Do you ever wonder how many hours the average small business owner works? Probably not, but it’s an interesting question.
According to a study by TheAlternativeBoard, 19% of small business owner works a whopping 60 hours per week, and here is the breakdown of hours worked per week by small business owners.
|Percentage of Small Business Owners
|Number of Hours Works per Week
Small business owners are responsible for all aspects of their businesses, from marketing and sales to bookkeeping and customer service. if you’re like most business owners, you probably don’t have time to waste.
As a small business owner, you must manage your time effectively. Let’s take a closer look at how to do this.
Time Management Tips for Business Owners
As a business owner, you are likely always short on time. You are juggling so many different balls that it can be difficult to know where to start, let alone how to find the time to get everything done.
If this sounds like you, then it might be time to reevaluate your approach to time management. By following these simple tips, you can make the most of the time you have and get more done in less time.
1. Set daily and weekly goals.
One of the best ways to make sure you are using your time wisely is to set goals for what you want to accomplish each day and week. This will help you stay focused and on track. Make sure your goals are realistic and achievable, otherwise you will only end up feeling frustrated.
2. Make a list.
To-do lists are a lifesaver when it comes to time management. By writing down everything you need to do, you can prioritize your tasks and make sure nothing gets forgotten. Checking items off as you complete them will also give you a sense of satisfaction and progress.
3. Delegate and outsource whenever possible.
As a business owner, it can be tempting to try to do everything yourself. But this is not only unrealistic, but it is also counterproductive. Learning how to delegate tasks is an important skill for any business owner. When possible, delegate tasks to employees or outsource them to professionals who can get the job done quickly and efficiently. This will free up your time so that you can focus on more important tasks.
4. Take breaks.
Contrary to popular belief, taking breaks can actually help you be more productive. Working non-stop without a break will only lead to burnout. When you take a few minutes here and there throughout the day to step away from your work, you will come back refreshed and ready to tackle whatever comes your way.
5. Set aside uninterrupted blocks of time for specific tasks.
Trying to do too many things at once will only lead to frustration and poor-quality work. When possible, set aside uninterrupted blocks of time in your schedule so that you can focus on one task at a time and give it your full attention. This will help you stay focused and produce better results in less time.
6. Learn to say no (politely).
Business owners are often bombarded with requests from employees, customers, vendors, etc., and it can be difficult to say no without seeming rude or unprofessional.
But, knowing how to say no graciously is a vital ability for any business owner who wants to efficiently manage their time. When presented with a request that is not feasible or does not align with your goals, simply say something like “I’m sorry, but I’m not able to do that right now.” This will allow you to avoid taking on more than you can handle and focus on what is vital.
The Top 5 Activities Small Business Owners Engage In
Being a small business owner is no easy feat. Not only do you have to wear many hats, but you also have to be comfortable with change and constantly adapt to the ever-changing landscape.
While every small business owner’s day-to-day is different, there are some common activities that most of us engage in on a daily basis. Here are the top five:
1. Wearing many hats: As a small business owner, you are likely responsible for a wide variety of tasks, from accounting and bookkeeping to marketing and sales. Wearing many hats can be daunting, but it’s also one of the most rewarding parts of being your boss. You get to see the direct results of your hard work and dedication and watch your business grow as a result.
2. Constantly adapting: The landscape of business is always changing, and as a small business owner, you have to be comfortable with change. Whether it’s a new technology that you need to learn how to use or changes in the marketplace that you need to adjust to, being comfortable with change is essential for success. The good news is that once you get used to it, it becomes second nature!
3. Delegating tasks: One of the most important things you’ll learn as a small business owner is how to delegate tasks effectively. As your business grows, you’ll quickly realize that you can’t do everything yourself and that delegating tasks is essential for keeping things running smoothly. When delegating tasks, be sure to choose people who are trustworthy and who have the skillset necessary to complete the task at hand.
4. Managing finances: Another important aspect of being a small business owner is managing your finances effectively. This includes keeping track of your income and expenses, as well as creating and sticking to a budget. Staying on top of your finances will help ensure that your business is profitable and sustainable in the long run.
5. Promoting your business: Last but not least, promoting your business is essential for attracting new customers and keeping existing ones coming back for more. There are many ways to promote your business, from traditional methods like advertising and PR to newer methods like social media marketing and content marketing. Whatever method you choose, make sure it aligns with your goals and budget so that you can get the most bang for your buck.
These are just some of the activities that small business owners engage in daily. While this is not an entire list, it should provide you with an idea of what to expect if you are considering starting your own small business. Remember, being your boss comes with its challenges but it can also be incredibly rewarding.