Why Is Time Management Important when running a business?

by | Jul 24, 2023 | Productivity

Managing your time is important – we know, you hear that a lot, but it is 100% a fact. The question you want to know the answer to is why exactly is time management important and how will these skills help you become a better business owner and grow your business? Let’s take a closer look at time management and what it means for you.

I know time management is Important but what is it exactly?

Managing your time well rarely comes down to just one thing. Good time management is often a result of different factors working together – making to-do lists, planning and prioritising tasks. Looking at what you need to achieve and how much time you have to achieve it is the first step to good time management. Based on this information, you can then create a plan of what you need to do. You can break this down into smaller and more manageable tasks which can help to improve your time management.

Why is time management important?

There are several reasons that time management is important, including:

  • Relieve work stress: Managing your time well often means that you have decreased stress on a day to day basis. Lack of time management often leads to increased pressure as a result of leaving tasks until the last minute.
  • Increase your performance: Time management is important if you want to get things done efficiently and to a good standard. You can increase your performance and impress your clients by planning ahead and allowing yourself more time to do the tasks which you know may be more challenging than others.
  • You can’t get it back: Time is precious, and you can’t get it back once it’s gone. This is important if there are things you need to do by a certain deadline – the more time you waste, the more time you could have spent on completing an important task.

Time management is a valuable, impressive and useful skill to have, and everybody can benefit from improving it. Start by making a list of the outstanding tasks that you have to complete and allocating a set amount of time to each one. You can then break down your working day to ensure they are completed, allowing a little extra time for you.

Signs That You Need Better Time Management

Some people seem like they were born with great time management skills. Others aren’t so good at organising their time well throughout the day. We’ll look at some of the most common signs that you need to improve your time management skills.

You consistently fail to meet deadlines

Sometimes this isn’t the most obvious sign, particularly if you don’t have any big important deadlines. Perhaps you forget to respond to an email by the date you promised you would, or maybe you had to finish that document overnight because you couldn’t finish it by the end of the day in the office. Look out for the smaller deadlines that you might be missing – this could be a key to discovering you need to improve your time management.

You’re always stressed

If other colleagues or friends notice you’re more stressed, or you just feel as though you never get to take a break, you could need to look at different ways of managing your time. This could be re-prioritising and looking at the ways you could make more of your time, but it could also involve delegating more tasks to others, like a virtual assistant.

You’re worried about getting more tasks

This could also link to feeling stressed all the time, but if you’re starting to feel worried about more work coming your way, think about what you can do to finish other tasks earlier and feel more confident about new projects. Trying to avoid taking on any new work could mean you become overwhelmed by current projects and lose all enjoyment in your work.

You’ve lost sight of the overall goal

If you seem to be constantly working on small tasks and losing sight of the overall goal, it could be time to think about how you’re managing your time and what you could be doing better. It’s always good to have the right level of work to maintain a stream of strategic thinking above all the day to day.

You’re running out of steam

Feeling like you’re all out of energy before you even get started? Whether you’re at work or at home, you should have enough time to relax so that you don’t feel run down every day. This is a common sign that you’re lacking good time management, so if this sounds familiar, take a step back to reconsider.


5 simple time management tips that can make your life easier

Struggling to manage your time can feel awful. Whether you’re finding it difficult to complete everything at the weekend, or you’re failing to meet deadlines at work, there are small ways you can manage your time more effectively and have an easier life. Here are some of the simple ways you can start managing your time better.

Make a plan at the start of each day

Whether it’s a weekday or a weekend, and whether you have a list of twenty things or a list of one, it’s good to get into the habit of making a plan at the start of the day. If you have a colleague or team you work closely with, it could be a good idea to make it a routine habit. To avoid using up too much extra time by doing this, set a strict limit of five or ten minutes. Utilise your calendar so you know exactly how your day is going to look. Check out our diary management article covering everything you need to schedule for maximum productivity.

Be honest about how much work you can handle

Too many of us are worried that we’ll put our jobs in jeopardy by refusing to take on extra work. We’re worried about what other people might think, or whether it will make us look as though we can’t handle the job. However, it’s important to be honest with you – about how much you can handle but also about how much you’re capable of doing.

Keep an eye on the time

Can you believe it’s lunchtime already?!” Most of us have said or overheard something to this effect, showing just how common it is to lose track of time. Keeping an eye on the clock could be the key to helping you manage your time better and become more efficient.

Stop multitasking

While multitasking has been hailed as a great skill, and in many cases is very useful, sometimes it’s just not the right time for it. Multitasking could mean that you’re hardly ever focusing on just one task, which makes it much more likely that you’ll go off track or forget about something else entirely.

Recognise your distractions

Knowing what distracts you from your work is a great way to find out how you could make better use of your time. If you often get distracted by your phone, put it in a drawer or out of sight elsewhere. If other colleagues keep distracting you, don’t be afraid to say no or let them know that you’re working to a deadline.

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