Time Management For Solopreneurs

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To create a thriving business you must stay in action and put time, energy and attention on the things that will generate the results you desire (ie: more clients!). Seems fairly obvious, right? Well then why is it so hard to DO?!?

Virtually all small business owners struggle with time management. They say, “There just aren’t enough hours in the day.” OR “There is never enough time.”

And for home-based business owners, as most solopreneurs are, scheduling and managing our work time is all the more difficult.

A clear and proactive weekly schedule can help you stay in action and focused on the key areas necessary to build a thriving business.

The 4 Step Time Management System for solopreneurs can assist you in creating a customized weekly schedule that works perfectly for you.

STEP 1: Identify Your “Big Rocks”

This concept is derived from Stephen Covey’s training in time management. He uses rocks and sand as a metaphor for the things we need and want to put in our schedule. He demonstrates that by first filling a bucket with “big rocks,” you still have room to add sand and fill in the crevices.

The “big rocks” represent your most important activities (even if they are not urgent). The sand represents less important activities, some of which may be time critical. The concept is
that if the sand is dumped into the bucket first, the more important “big rocks” will not fit. (And he displays this very effectively in his seminars.) When the big rocks are placed in the bucket first, you still have room for the sand, but NOT the other way around.

To create an effective schedule that will support you in growing your business you need to identify and focus on your “big rocks,” and not spend too much time on smaller, administrative-type items that do not generate results and revenue.

For most solopreneurs, the following areas comprise some, if not all, of their “big rocks.”

SERVICE – The actual time you provide your services, prepare for, post-work and follow-up, etc.

NETWORKING – Going to networking events for the purpose of securing Comp Sessions.

EXECUTING MARKETING STRATEGIES – Such as speaking, sending out a grassroots marketing letter, making follow up calls, forming a strategic alliance, etc.

SALES PRESENTATIONS – Performing sales presentations to secure new clients.

CONTINUING EDUCATION – Taking additional training, reading, going to seminars, etc.

ADMINISTRATION – Answering/sending email, billing, filing, paperwork, etc.

WRITING/CREATING – Such as newsletters, articles, working on programs, etc.

BUSINESS PLANNING/STRATEGY – Setting goals, creating plans, brainstorming ideas, etc.

Using the above list as a guideline, what are your “big rocks”? What are the areas you know you need to focus on in order to build the business you desire?

STEP 2: Create Your Time Allotment

Next, determine how many hours you have each week to dedicate to your business and assign appropriate blocks of time to each category.

Note: This is highly contingent upon where you are as a solopreneur and the size/scope of your business.

As a GENERAL rule, however, we suggest that if you don’t yet have a full business, MOST of your time should be dedicated to MARKETING ACTIVITIES (including executing your strategies, networking, presentations, etc.). As you gain more clients and the time you spend providing your services increases, your marketing time may decrease proportionally. Again, this is a general rule. Please note however, that your time in marketing will never be zero, and will rarely fall below 20% of your
total time.

STEP 3: Schedule Your Time

Next, you want to block out times in your calendar (ie: your daytimer, Palm Pilot, etc.) for each area. We recommend you do this weekly. This will then become your “ideal” schedule. Your goal. Your target.

Not every week will perfectly match the schedule you create, in fact most will not! That’s okay! But if you have a plan and do your best to stick with it you will be a lot better off than if you had not created a schedule to begin with.

STEP 4: Implement/Measure/Modify

Once you create your blueprint, it is important to commit to your schedule and strive to implement it the best you can. During the week take note of what is working and what is not.
Make the appropriate adjustments and you will begin to feel great about your schedule.

Success in Time Management requires dedication and commitment. The first step is to commit and at least get things scheduled and then dedicate yourself to getting a little better each week.

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Source by Michael Charest