TIME—a Strategic Corporate Asset

Thinking  of Time Management, most of us are considering the complex time balancing issues we leaders face with the opportunities/demands from family, church, business, staff,  and many other sources.   Wikipedia--Time management is the act or process of planning and exercising conscious control over the amount of time spent on specific activities, especially to increase effectiveness, efficiency or productivity. We can learn about Time Management from Dale Carneige.com, Mind Tools.com, Dartmouth College, and hundreds of other expert sources.

Does the electronic/digital age create too many time indicators for us to follow?

Some researchers indicate that meaningful communications and conversations with associates and loved ones are disemboweled with frequent “productive” glances at the inbox; smart phone clock, thus our ability to think is decimated by the distraction of the ping and the ring. We maintain a state of chaotic mental activity that some call psychic entropy. This is the opposite of the optimal psychological state of flow, where attention is allowed to linger, to sink into an activity without distraction.

Andy Stanley has stated--“Direction, not intention determines your destination.” –If we look at this statement from the time management axis— would say that “Schedule management, not distractions , determines successful completion.

Are you focused on corporate time management at this time?

For most enterprises- this is the season of  annual budget/planning.  Businesses are gathering forecasts, planning for marketing/sales activity, developing the annual budget with some consideration given to multi-year expectations.  As this annual plan is developed—are we as careful considering time as a planning variable and asset as we are when considering financial capital.

Does your  performance reporting and variance analysis deal primarily with financial measures or does it also focus attention on corporate and individual time management issues?

Procrastination and poor time management: is one of the leading reasons small businesses fail--Putting off tasks that you don’t enjoy will sink your business faster than anything else. You can’t afford to waste time on unimportant tasks while critical tasks pile up. All tasks need to be done; if you don’t like to do them (or don’t want to spend your time doing them), hire someone to do them for you. If your time management and prioritizing skills are rusty, hire a small business coach or take a class to help you. - See more at: http://www.passionforbusiness.com/articles/why-businesses-fail.htm#sthash.LSZvoq3L.dpuf

Time management is a booming business—everyone wants to get more done and control time wasters. But for Christian business leaders the need to manage time is even more urgent.  We are Stewards of the Business God has given us.  Poor time management in our business is a waste of God’s resources.  Be sure your annual business plan gives significant focus to TIME as a critical investment asset.  Consider Time KPI’s on your management dashboard.

It has been stated—“No CEO/Owner can let the business run out of Cash”—Likewise, no CEO/Owner should let the business run out of Time”

“Walk circumspectly, not as fools but as wise, redeeming the time, because the days are evil” (Ephesians 5:15-16).

Avoid these common time management mistakes

Fall is upon us! With summer having come to a close, your schedule is back in full swing. Now is the time to reevaluate your time management approach to make sure you end 2015 achieving your goals. Make the most of your time, work efficiently and smart, and avoid these all too common time management mistakes.

1. Skipping prioritization - Sure, that expense report is easier to complete than the comprehensive sales strategy you promised to create, but the expense report won’t move you as far towards your goals. During your most productive times of the day, focus on your most important tasks.

1. Failing to set daily goals - Be realistic and formulate your daily goals based on your weekly and monthly goals. Always leave room for flexibility, you never know when that elusive client will call with a special request.

1. Succumbing to distraction - Ever spent the day checking email, reading the news, or surfing the internet instead of working? We all have. No doubt you will get distracted throughout the day, however, it is essential to set aside times when you shut off your email, close your internet browser and tuck away your phone. After your work is complete, reward yourself with a 10 minute internet session.

1. Neglecting to take breaks - Far too often, I have tried to work through the day without stopping. I end up being less productive, and more stressed. Take time to recharge, grab a coffee or go for a short walk. I think you’ll find these breaks help make your day more enjoyable, and more productive.

1. Multi-tasking - On paper it sounds like a good idea, but in reality it produces less than stellar results. Check out this article on why you should start single tasking.

1. Failing to reevaluate your schedule - When you start your day, take time to look at your schedule and run through your goals. If you no longer need a meeting, cancel it. This will help you prioritize, schedule breaks, set daily goals and avoid having to multitask. If you are flexible, you’ll be better equipped to handle the unexpected client call at 4:45pm on Friday.

Hopefully, being aware of these common time management blunders will increase your productivity and help you close out those 2015 goals!