Time Allocation

Time is a precious limited resource and how we use it can affect not just the health of our business, but our private life as well. The owner must have a clear vision for how he or she will use productive time before the vision for the organization is developed. This vision, as it relates to the business, will focus on the owner’s personal competitive edge. Being able to spend 75% or more of your business time using your competitive edge will not happen if you dwell in the past or are focused on what you are today instead of what you can become. You need to have a clear vision of what you want to become in order to reach the goal of spending your time doing what you enjoy while advancing your business. To get there, you must be committed to further development and learning how to take advantage of your natural talents. This means continued learning in the areas that will develop your competitive edge.

Do not expect to eliminate activities outside of your competitive edge areas overnight. As your business grows and your competitive edge grows, you will need the funds to pay people to handle these activities for you (people who are better suited to do them anyway).

First of all, you need a plan for your time. As a business owner, you should not worry about structuring your time like that of your employees. Who hasn’t felt guilt when away from the office doing what you enjoy, such as golfing and being called into the office to attend to an issue?

You need to set aside Free Thought Days (FTDs). Free Thought Days are days in which you are not involved in business activities and are out of contact with the office. No one should be calling you from the office unless it is an emergency. You should not be involved in any routine business matters.

There are two types of time blocks that you spend during your business days. One is devoted to short-term results that do not involve the big picture. Your action plans will identify specific activities that need to be focused on during these small picture half days.

The other time block is devoted to things that involve the big picture, such as preparing for a major presentation or proposal, working on your vision and mission, or contacting potential clients that could have a major impact on your company. These big picture activities cannot be bogged down with handling day-to-day problems or activities such as signing checks. There will come a time when you may be able to make these blocks full days, but you can start off with time blocks that are half days.