Being able to effectively balance all aspects of an entrepreneurial lifestyle is a difficult feat.
When you have finished the budgeting, project management, marketing and sales tasks set during the working day, you go home and somehow have to find the time entertain the children, spend time with your partner and (if you are lucky) steal some precious moments for yourself.
How are you supposed to juggle such a hectic existence?
With so much to accomplish during a 168-hour week, the need for effective time-management in your business is increasingly essential to leading a successful professional and personal life. With so many people vying for your attention, it can be difficult to establish and maintain a healthy work-life balance.
A common weakness of many entrepreneurs is their inability to delegate. Many of those who started their own business have spent hour upon hour breathing life into their project, and as specialists are reluctant to hand over even the simplest of tasks.
If this sounds all too familiar, then keep reading. Here are a few suggestions to help you discover that you can have your cake and eat it after all.
To-do lists are a great way to prioritise your workload. Research has shown that people who create to-do lists are 90 per cent more likely to complete them. Ticking each task off as you complete it increases your momentum for achieving further successes throughout the day. Try to set realistic tasks to avoid disappointment and losing focus.
Take time out each day to gather your thoughts, even if this means locking your office door and taking your phone off the hook to avoid interruptions. Choose a time during the day when you feel the most focussed and reflect on your current situation.
Delegate or die!
As an entrepreneur, you must learn to accept that delegation could be the answer to your time management prayers. It can provide you with the freedom to nurture other areas of your life that you have been neglecting and to rescue floundering relationships.
Mastering the art of successful hands-on management also requires you to know when to back off and let somebody else use his or her expertise to drive the business forward. Focus on what needs doing but don’t feel the need to explain how it should be done. Empowering your employees with such decisions will make them feel appreciated and more motivated to achieve success.
Use the 80/20 rule
Have you ever heard the saying “80 per cent of your success comes from 20 per cent of your efforts”? As an entrepreneur you can save a lot of time and by figuring out where the most profitable business stems from and dedicate the majority of your energy invested into those activities. Where does your most profitable 20 per cent lie?
Join the 21st century and take advantage of the technical revolution. This may involve uploading your e-mail onto your mobile phone, updating the company website, producing e-newsletters for your clients and even purchasing a PDA to store important administrative information – and of course, for easy access to your to-do lists! Automation is a great way to multiply your efforts.
Finally, you need to learn when to take time away from your professional life. For many, this is easier said than done. Accept that “time off means time off”. Schedule that dream holiday with your loved ones, switch off, and focus on your personal life and well-being. It could be just the tonic needed to reenergize your depleted energy levels and refocus on your real estate career.