This blog post is full of time management tips. To learn how to implement them into your business and workday, book in a quick 15-minute chat with us: http://bit.do/15minchat.
1. Create Productive Habits
Create a calendar that includes your goals and the details of your actions needed to complete those goals. Make sure you prioritize your actions and tasks so that you’re always working on the most important items. Do not multi-task, but rather work in block times. For example: 8am-9am check emails/faxes, 10am-12pm work on estimates and bidding, etc. This way you can focus on 1 task at a time without deviating from being distracted by too many items.
2. Motivate and Delegate
Cultivating a ‘no waste’ environment in your small business is extremely important! Get your employees involved and on-board by getting them to create their own calendars. Share your calendar with your team members, so that they are aware of when you are available for meetings. The calendar will aid in improving your communication with your team members. You should also start delegating work; one way is to develop an apprenticeship plan that focuses on getting team members trained on low-valued tasks. This in return will help you free up your time to focus on the high valued tasks. Have the details of the training laid out in a manual, so that you can leverage this process for any new hire.
3. Take Time to Check on Finances
The old adage that “Cash is King” is true, but we should consider time as a factor as well. Time’s value of money is crucial, especially in account receivable analysis. Many companies fail to keep up with the account receivables.
You should bill your customers right away. Every day you wait is another day without getting paid. Print your account receivable report every month or if you are in a cash crunch then every week, so that you will know when you need to initiate stronger collection methods.
4. Time and Projects
The most important thing that all contractors should be doing is responding to quotes on a timely manner. To achieve this, you need to first prioritize your tasks, so that you make the time needed to create a quote, because if you’re slow at getting it out, then you give your competitors a bigger chance to walk away with the win.
Always track your time, because during projects this will be a vital source that will help you generate a more accurate estimates on how much time you need to work on a project and it will prevent you from getting under cut.
Many contractors will take deposits upfront and bill end of projects, but when you do this you leave yourself open to running out of cash especially if it’s a large project, and that is why I recommend that you breakdown project fees into different stages of payment.
One of the easiest way to increase your income, is to pay attention to how you are spending your time, and then make adjustments to help you spend it better. Having time management as a vital role in your company will allow you to make better choices that will yield better results. Get proactive about time management and start conditioning your environment and do not let it condition you.
Register for a complimentary webinar on Jan 24 at 11:00am and learn how to free up your time in 2017 and stop leaving behind what’s important. Click here to register: http://bit.do/jan24-web