Time management is essential for every business owner. Accomplishing more in a shorter period of time allows you to take advantage of more revenue opportunities, which has a direct impact on your bottom line.
Prioritize Three Tasks Every Day
Choose every day the three most important things you must absolutely get done and focus on them. As you do this, keep in mind the 80/20 rule. According to this principle, 20% of your tasks produce 80% of your results. Identify the tasks that fall into the 20% category and make sure to include them in your daily top three.
Use Technology to Your Advantage
Technology can be your best ally when it comes to time management—but it can also lead to wasted time with its many distractions. Use technology to your advantage following these guidelines:
- Use calendar apps, checklist apps and time tracking tools
- Take advantage of recurring billing and payment reminders
- Turn off email and social media notifications
- Log off social media
Learn to Say “No”
Saying “no” is a basic time management skill. Saying “yes” all the time and taking on more than you can handle only leads to burnout and dissatisfaction. If you find it difficult to say “no” to work requests, use these tips:
- Identify what’s important for you: You must delimit what you want to protect when you say “no.” It can be your family, your time, or the quality of your work.
- You are saying “no” the request, not to the person: Remember this, and make sure the other person understands it as well.
- Practice: Imagine situations where you have to say “no” and articulate your reasons. Under stress, we rely on familiar behavior, so practicing will make it easier for you to say “no”.
Focus on Your Core Business to Improve Your Time Management Skills
Remember: 20% of your efforts produce 80% of your results. That 20% is your core business, and that’s where most of your income comes from. Focus on those activities and find ways to reduce the amount of time you spend doing everything else.
Factoring of accounts receivable is a smart way to focus on what you do best. When you factor your receivables, you sell them to a company, or factor, that provides you with a sum upfront and the factor gets paid from your clients. This way you don’t have to worry about the collection process, and you get the money right away, without having to wait 30 to 60 days – all of this for a small percentage of the invoice!
At ACS Factors we are able to advance cash on receivables for companies anywhere in the US.
We are located in Upland, California, and have many clients in the distribution and logistics corridor which includes Ontario, Riverside, Fontana, Jurupa Valley and Moreno Valley. Reach out today by email (info@acsfactors.com), telephone (909-949-5599) or through our social media accounts on Facebook, Twitter and YouTube to learn more about the benefits of turning your invoices into immediate cash!
