TIME MANAGEMENT 101: BOOST YOUR PRODUCTIVITY AS A FOUNDER

Oyinkansola B.

Welcome to this week’s edition of Leverage by The Bulb. 

Time is arguably the scariest and most valuable resource in the world. When you lose time, it is gone forever, you cannot regain that same time again. The issue of time management is so important for individuals and businesses seeking to better utilize their time. 

With effective time management skills, you can get more of your activities done in a shorter time. In today’s newsletter, you will learn everything you need to know about time management including top tips for better time management. 

What is Time Management? 

Time management is the act of planning and regulating the amount of time spent on a particular activity. Good time management allows individuals to be able to complete more work at the same time and better prioritize higher-value tasks. It helps to reduce stress when these activities are done efficiently. 

Efficient usage of time helps you know what to do, the time allocated to various activities, and how these activities can be done efficiently. It can also be seen as a guide to being on track towards the attainment of your goals as a founder.  

According to Founder’s Institute, there are three P’s of time management: Planning, Prioritizing and Performing. 

Planning 

Having a planner or creating a to-do list before you start your day will help you stay organized till the end of the day. You will be able to tick off items as you are done with them. It gives you a sense of accomplishment and keeps you focused on your goals.  

Prioritizing 

Prioritizing tasks should be based on how important and big your work is. In the morning, we have the most energy to perform our various tasks. The stressful tasks and the urgent ones should be done in the morning. 

Getting to do the most important work first will make your day better because you can do the least important one later. If you are working on several projects, make a project list to manage multiple projects successfully by prioritizing the more important ones first. 

Knowing urgent tasks that you must complete will increase your productivity.  

Performing 

After planning and prioritizing, it’s important to do the work. As a founder, work must be done to move ahead and facilitate growth hence, this is a crucial part of managing time for productivity.  

Effective Time Management Tips for Founders 

1. Setting clear goals and priorities 

As a startup founder, it's crucial to have a clear understanding of what you want to achieve and what steps you need to take to get there. 

To set clear goals, start by defining what success means to you and your startup. This could be a revenue goal, customer number, or product launch date. Once you have a clear idea of what you're working towards, break it down into smaller, actionable goals that you can work on each day or week. This will help you stay focused and motivated and give you a sense of progress as you work towards your larger goal. 

2. Creating a daily schedule 

Creating a daily schedule is an important time management strategy for founders who want to stay organized, focused, and on track. By planning your day ahead of time, you can ensure that you're making the most of your time. 

When creating your schedule, it's also important to consider your energy levels throughout the day. For example, if you're a morning person, you may want to schedule your most important tasks for the morning when you're fresh and alert. Alternatively, if you're more productive in the afternoon, you may want to schedule your important tasks for later in the day. Once you have your schedule in place, stick to it as much as possible, but also be prepared to be flexible if unexpected tasks or emergencies arise. Your schedule is a tool to help you manage your time effectively, but it's not set in stone. 

3. Delegate 

As a founder, it's easy to fall into the trap of trying to do everything yourself. Delegating tasks to others can be a powerful time management tool that can help you free up valuable time, focus on your most important tasks, and achieve your goals more efficiently. 

Delegating involves identifying tasks that someone else can do as well or better than you can and then assigning those tasks to them. This could be delegating tasks to other members of your team or outsourcing tasks to a third-party service provider. 

4. Learn to say no 

As a founder, you likely have a lot of demands on your time. It's easy to fall into the trap of saying yes to everything but learning to say no can be a powerful time management tool that can help you stay focused and avoid burnout.  

Learning to say no involves setting clear boundaries and being selective about the commitments you make. This means that when someone asks you to take on a new task or attend a meeting, you should evaluate whether it aligns with your goals and priorities before saying yes. 

5. Take breaks and practice self-care 

As a startup founder, taking regular breaks and practising self-care is essential for maintaining your mental and physical well-being, and ultimately, your productivity.  

In addition to taking regular breaks, practising self-care is also important for maintaining your well-being. This can involve a range of activities, such as getting enough sleep, exercising regularly, eating a healthy diet, and taking time to do things you enjoy outside of work. 

Self-care also involves setting boundaries and managing your workload. It's important to recognize when you're feeling overwhelmed or stressed and take steps to address these feelings. Practising self-care can also involve developing healthy habits and routines that support your overall well-being. For example, setting a regular sleep schedule, scheduling time for exercise or meditation, or prioritizing time with friends and family. 

By taking care of yourself, you'll be better equipped to handle the demands of your work and achieve your goals. 

The benefits you get from managing your time are creating better habits for yourself and increasing productivity. Effective time management helps you boost your focus and create confidence in the activities you plan to do. 

Know someone who might be interested in this newsletter, share it with them!