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How Entrepreneurs Can Avoid Wasting Time

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As an entrepreneur, you probably spend 10+ hours each day working to build your business’ foundation. From writing your business plan to securing funding to stocking your inventory, there’s a lot to do yet there never seems to be enough time.

While you may spend most of your hours focusing on your business, are you using your time as wisely as possible?

The fact is that certain time-wasting activities can’t be avoided, but there are others that you have 100% control over. Here’s what you can do to avoid wasting time so that you can make the most of your days.

Not Tracking Your Time

You may know that you work long hours day in and day out, but do you know how much time you spend on certain business activities? Could you for a fact say that you spend X amount of hours checking email? Or that you spend X number of hours conducting business research?

One of the best things you can do to avoid wasting time is to know where your hours are being spent. The good news is that there are apps that track your time for you, so you don’t have to keep a constant eye on the clock.

With a time tracking app, you can determine exactly how much time you’re spending on certain tasks. This allows you to find ways to streamline your processes and make day-to-day business more efficient.

Wearing Too Many Hats

As an entrepreneur, you probably not only serve as a business owner but as an accountant, a marketer, and a strategic planner. And while it’s important to have a “can-do” attitude, having all of these jobs at once can lead to burnout and tons of wasted time.

Even if you’re just starting out and operating on a small (or non-existent) budget, it’s impossible to do everything yourself. If you’re trying to wear every hat possible, you’ll quickly find that you don’t have enough time to be a business owner, which is the main and most important job.

Look for ways to automate certain business operations. You may also want to consider outsourcing some of your work, which is much more cost-effective.

At the end of the day, it’s okay to ask for help! Delegating is crucial to staying balanced and focused.

Getting Distracted

We live in a world of distractions. From the television to phone calls to social media, there are tons of things that cause entrepreneurs to take their eyes off the prize. What starts as a few minutes of checking your social media accounts can lead to hours spent tracking down leads and consuming an endless amount of content that may or may not be beneficial.

Entrepreneurs put tons of time into consuming content when this time could be spent completing other important tasks. In order to avoid wasting time on distractions:

  • Conduct business in a quiet place (ie. your home office)
  • Know your triggers
  • Turning off your phone and television
  • Let others know your work schedule
  • Set aside time for breaks

Daily distractions can cause you to lose hours of a day. Be aware of what distracts you and find ways to avoid distractions as much as possible.

Set a Schedule

As an entrepreneur, you may live as if all of your hours are work hours. But, in order to be successful and to make the best use of your time, it’s important that you have a set schedule. With a schedule you can tell clients and investors when you’re available. A schedule also allows you to achieve a work/life balance that is healthy.

When creating a schedule, be sure to build in time for breaks. Mental breaks are crucial to keep you focused and productive.

Create a To-Do List

How can you best use your time if you don’t have a daily plan of attack? As an entrepreneur, it’s all too easy to lose track of tasks you’ve completed and which ones still need to be done. Instead of trying to keep a mental note of your tasks, write them down!

With a to-do list, you can wake up each day knowing exactly what you need to accomplish. Be sure to prioritize your tasks so that you can complete them in a sequence that makes the most sense.

At the same time, it’s also important to write down your accomplishments. With a long list of things to do, it’s easy to lose sight of what you’ve completed. Note your accomplishments and celebrate your success each day.

Conclusion

As an entrepreneur, there’s never enough time in the day to do everything you want to do. To make the most of your hours, keep these tips and tricks in mind so that you can avoid wasting time.

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