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The importance of time management can’t be underestimated.  We all have 24 hours every day.

How we manage time can set us up for success or keep us where we are.  It’s up to you to make the most of your time.

This article lays out the importance of time management, shares what good time management skills are and provides proven time management tips to help you manage the time you have more effectively.

While we can’t add hours to our day, understanding the importance of time management can help you maximise the time you have.

Time management is not just a skill that small business owners and entrepreneurs need to master.

Everyone can benefit from managing time more effectively so they can have more time for the most important things in business and life.

The importance of time management

The importance of time management comes down to how much you value the time you have.

Effective time management is about being clear on your goals and then prioritising your day to work only on the activities that will help you reach those goals.

By developing time management skills, you can create a much better work-life balance.

The consequence of bad time management can lead to stress, burnout and frustration as you simply don’t have the time to achieve your goals.

Even if you think you don’t have enough time currently, the time management tips I’ll be sharing can transform how you think about time.

When you can manage your time and progress towards your goals quicker the benefits include:

It helps you achieve goals quicker 

When you understand the importance of goal setting and understand the importance of time management, you will be excited and motivated to get into action.

You understand the activities that need to be undertaken to reach your goals, eliminating low-value activities that won’t help you reach your goals.

It helps you work less and leverage time

When you manage time effectively rather than efficiently, you become more productive and get more of the right work done.

You look for ways to leverage time rather than trying to do everything yourself which helps to free up more of your time.

It helps you eliminate work you’re not good at

When you understand your unique strengths and the high value activities only you should undertake to reach your goals, you can eliminate work you’re not great at.

By having this clarity, you’ll be clear on where to spend your time and where not to spend your time.

It helps you rejuvenate

Effective time management is about working at a peak state on activities you love to do and are great at.

Taking more time off to rejuvenate mind and body puts you in that peak state.

Rather than focusing on time and effort to achieve something you become focused on delivering a result.

You become focused on working smarter, not harder.

To deliver that result effectively, put your mind in a peak state.

It helps you feel energised and focused

When you properly manage time, and work more and more using your unique strength you are always energised, motivated and focused.

Eliminate and outsource what takes up your time and find collaborators to achieve bigger results by leveraging your time.

You’ll focus more and procrastinate less

When you are clear, focused and energised you’ll learn how to stop procrastinating.

All of your skills won’t help if you don’t have a clear direction and focus for your time.

Reduce the amount of things on your to-do list and make sure your goals are achievable to reduce procrastination.

It will also help reduce overwhelm.

What is effective time management?

Effective time management is simply about maximising the time you have to produce the results you want.

It is about leveraging your time to produce the biggest result possible with the least amount of effort, be that working by yourself, as part of a team or collaborating with someone else.

Why effective time management matters

The ability to manage your time effectively is important if you want to have more time for the people that matter and to reach your goals quicker.

Effective time management leads to improved productivity, quicker results and more success in business and life.

Understanding the importance of time management can create more time, more opportunities, less stress and the achievement of bigger goals.

The benefit of time management 

Here are 10 time management tips to help you manage time and reach your goals quicker: 

1. Create a time audit

If you want to have more time the first step is to understand where you are currently spending it.

This time audit will help you identify activities to eliminate and activities to invest more time on.

Simply list all of the activities do you in a week and time spent on each.

Then ask yourself if that time investment is the best use of your time.

Eliminate activities where appropriate and spend more time on the activities that will help you reach your goals quicker.

Focus on results not time spent.

2. Become a planning master

Start becoming intentional about where you spend your time.

If you’re clear on your goals, lay out clear plans to achieve those goals.

This should include quarterly planning, monthly planning, weekly planning and daily planning.

If you have no direction or focus for your day or week then you can easily become distracted and waste time.

Each night list the top three activities you want to focus on for the following day and review at the end of the day.

Every Friday or Sunday, lay out your focused plan for the following week, listing the key outcomes you want to achieve.

3. Focus time on your most important activity

Don’t multi-task, get clear on your most important activity and work on just that one project.

Multi-tasking can waste hours of time every day.

Choose the one thing and use time blocking to remove distractions.

Work for 45 minutes, take a break, work for a further 45 minutes and then take a longer break.

This will help mind and body stay focused and energised.

4. Use the Pareto Principle to manage time

Not all activities, relationships and clients are created equal.

Use the Pareto Principle, otherwise known as the 80:20 rule, to prioritise your time and energy.

This rule suggests that 20% of something produces 80% of the results.

Using the Pareto Principle look at how you can focus less time to produce a bigger result.

When it comes to your clients, there are a small number who will deliver much bigger results than the result.

The Pareto Principle is all about leveraging a small amount of time and effort to deliver bigger results.

See how you can work less to achieve much more. 

5. Don’t worry about being perfect

 Trying to be perfect wastes a huge amount of time and lowers productivity.

Perfectionists think that nothing will ever be perfect so they spend too much time tweaking and amending to ensure that a project is perfect.

Nothing will ever be perfect.

Use your best capabilities to start a project and then work with someone else or delegate the rest.

6. Prioritise your time

Knowing how to manage time means leveraging time to focus on your biggest opportunities.

By focusing, and staying away from low value work you can achieve more by working less.

This focus comes from being clear on your goals and an ability to prioritise and work on projects in blocks of time until completed.

If you can free up an extra hour of time a day think how much more productive you’ll be.

7. Celebrate progress

Have you ever got to the end of the day and wondered what you’ve actually achieved?

There are always things to celebrate and achievements made in every day.

At the end of each day list three things you’ve achieved.

This will ensure you end every day feeling motivated and energised.

8. Achieve goals faster

Many people have big goals that they don’t achieve.

But without understanding the importance of time management, you may always have big goals that you don’t achieve.

The reason.  Too short deadlines.

If you want to achieve goals faster set bigger goals with longer deadlines and smaller goals with shorter deadlines.

Use 90 day, monthly and weekly time-periods for your goal setting and don’t set too many goals.

Every goal achievements builds progress and momentum so make it easy on yourself to achieve your goals.

9. Increase energy by freeing up time

Constantly feeling burnt out and stressed is miserable.

It hinders creativity and productivity.

The answer is to take more time out of your business and life for rest and rejuvenation.

This time could be taken just for you or to spend with the people in your life that are most important.

More time out increases energy and motivation.

10. Create time to do more of what you love

This time management tip applies to both your business and life.

In business focus more of your time on the activities that you’re great at and love to do.

When you spend more time doing things you’re passionate about with people you want to work with you can create a much bigger impact.

In your life, spending more time doing the things that you love is exciting and motivating.

Summing up

These 10 time management tips are essential to your mental and physical wellbeing.

If you want to manage time better make them part of your business and life.

If you do, you’ll perform better at work, grab more opportunities, have more free time and feel generally happier.

Understanding the importance of time management and developing good time management skills dramatically improve all aspects of your life. All you have to do is get started!

By sharpening your time management skills, you can expect to be more confident, productive and effective at work.

You’ll also have more time to spend with your family and take care of your own health and wellness.

Effective time management leaves you energised, which translates into living fully and trying exciting things in the new time you’ve found in your day.

Further Reading 

3 Simple Ways to Achieve More by Doing Less

7 Super Tips for Effective Time Management 

How to Be More Productive: 7 Habits of Productive People 

How to Increase Productivity and Achieve More in Less Time

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P.S. Whenever you’re ready….. here are 5 ways I can help you free up your time to grow YOUR business:

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Mark Pettit Administrator
Strategic Business Coach , Founder, Lucemi Consulting
About the Author Mark Pettit is a leading 1:1 business coach to ambitious entrepreneurs who want to free themselves up to jump to the next level of time freedom and business growth. He is the founder of Lucemi Consulting, a coaching and consulting company. Visionary, creative, and generous, he is a hero to entrepreneurs seeking to work less, do more of what they love and multiply their revenue and profits. www.lucemiconsulting.co.uk
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