Archives#saving time Archives — C. Lynn Northrup, CPA, CPIM
Saving time is the pathway to greater productivity and profitability. Small business owners realize that time is money and both are precious resources. It’s what makes the engine run.
The 5 Keys to Results:
- Set Goals
- Create a Plan
- Set Priorities
- Be Realistic
- Track and Measure Results
Setting daily to-do lists on what you want to accomplish is one of the main keys to achieving results, day in and day out. I use 6” x 9” spiral bound steno pads to keep my to do lists and notes. They keep everything bound and in one place giving me a chronological record of what I did each day.
Creating a plan keeps you focused on your goals and when you’ll need to accomplish them. Plans provide a roadmap letting you know if you’ll need help, acquire supplies, or add equipment. The small business plan should also document the results that are expected from your effort.
Planning forces you to set priorities. It spells out what get done first and how much time will be needed. Prioritization addresses the most important thing to get done. Some things will have greater urgency and force some tasks to be done at a later date.
Address larger projects and break them into a more realistic workload to avoid getting overwhelmed. Be realistic to avoid trying to put 10 pounds in a 5-pound sack. Knowing your capabilities and limitations is critical because small businesses always will have more work than time.
Tracking results and measuring performance sounds like an obvious step. It often gets put aside because small business owners have a tendency keep things in their head. There is no substitute for measurement. It forces a focus on results. It is essential to have a clear idea on what you’re doing, how you are doing and adjusting accordingly. This is where an accounting system can prove to be invaluable in avoiding mistakes and wasting time.
I think these five keys will help keep you and your business on track and focused on better results.