Business Tip Vol. 3 - Time Management

Where do you spend most of your time running your business?

If you had to allocate a normal 40 hr work week between Sales, Production and Administration what would be the percentage breakdown between all three?

I've devised the 40/40/20 rule. 40% of your time on sales, 40% on production and 20% on administration.

As businesses grow, we all have a tendency to skew those figures and end up spending more time on production than sales. But the time and resources on sales is what grows your business. Think of it as a large pipeline. You have to prime that pump for a while to get the oil flowing. Once the pump starts to fill you have to manage what comes out the other end. However, if you don't keep working to keep the oil going into the pipeline it will ultimately drain and you'll have to spend more time priming again.

For now, just observe and note your time management. Just observing your time will have you changing course in no time.