Rethinking common time management tips

November 26, 2019

Instead of cramming more onto your to-do list, figure out how to do less. It allows you to focus on what’s most important — and do that well.

 

As a business owner, you’re busy. You know that tips on time management are often very useful. And everyone else knows it, too. There’s an entire industry of books and seminars devoted to the subject.

Often, busy as you are, you’re trying to add even more to your to-do list. It might seem heroic, but could this actually be counterproductive?

Feeling like you’re in a constant time crunch is stressful — and it prevents you from doing your best work. What if there was a better way? 

 

Take a different perspective on time management skills

You’ve probably been told to manage your time by making to-do lists. Certainly, every small business has priorities, things that absolutely must be done. As a concept, lists can be very helpful.

However, don’t let the list rule you. Take some time to review your list — or your daily routine. Think about what needs to be done, what you’re good at, and compare that to what you’re actually doing. Then, make a list of things not to do.

It might sound a little odd, but think of it this way: Trying to manage everything can be overwhelming. You spend time juggling tasks rather than actually accomplishing the things you need to do. That’s not skilled time management.

Paradoxically, the solution that will help you get things done often involves not doing something. That's right, making a not-to-do list could help you become more efficient.

 

How to eliminate tasks from your routine

  • Delegate: As a small business owner, you’re likely very hands-on. But, for successful growth, you need to let others take on significant responsibility. Make a list of things that you can put someone else in charge of. It can be good for you to realize you can’t be everywhere at once. 
  • Simply stop or cut back: Some things just aren’t necessary. For example, maybe when you first hired full-time employees, it was worth having a daily half-hour meeting to get up to speed. Now that everyone’s been with the company over a year, is a daily meeting necessary? Maybe once a week is all you need. 
  • Explore efficiencies: Is there some process or method you’ve been using that’s not as efficient as it could be? By reviewing what you’re trying to achieve with each task, you can determine if your method of getting there is really the most effective. There’s one great example below, where traditional time management skills are put to use.

 

Case Study: Some help from technology

A number of recent technological innovations have made running your own business easier and more efficient.

For example, managing your finances often means you’ll make at least one trip to the bank every day. This is a task that can really add up over time. But the daily drive may no longer be necessary.

With U.S. Bank, business owners can skip the trip by scanning their checks and depositing funds directly into their accounts. Kris Terp, CEO of 1 Micro LLC, started using this system — and stopped driving to the bank. He calculated it saved him 10 hours a month. That’s 10 hours he could devote to more important things.

 

Find out how U.S. Bank can help you save time managing your internal and external payments.

Learn about U.S. Bank

Related content

Automate escheatment for accounts payable to save time and money

Crack the SWIFT code for sending international wires

3 awkward situations Zelle can help avoid

Banking connectivity: Helping businesses deliver the easier, faster, more secure customer experience of the future

Innovative payroll solutions may help attract hourly workers

Restaurant survey shows changing customer payment preferences

Webinar: CSM corporation re-thinks AP

4 ways Request for Payments (RfP) changes consumer bill pay

Digital Onboarding helps finance firm’s clients build communities

Higher education strategies for e-payment migration, fighting fraud

5 Ways to protect your government agency from payment fraud

Improve government payments with electronic billing platforms

Unexpected cost savings may be hiding in your payment strategy

Treasury management innovations earn Model Bank awards

Dear Money Mentor: How do I set and track financial goals?

Can faster payments mean better payments?

4 benefits to paying foreign suppliers in their own currency

Benefits of billing foreign customers in their own currency

Real-time payments: the next major treasury disruptor

Ways prepaid cards disburse government funds to the unbanked

Want AP automation to pay both businesses and consumers?

Enhancing the patient experience through people-centered payments

Government billing survey: The digital transformation of the payment experience

Automate accounts payable to optimize revenue and payments

Colleges respond to student needs by offering digital payments

Dear Money Mentor: How do I begin paying off credit card debt?

What government officials should know about real-time payments

Time is money: Intelligent Payment Routing saves businesses both

4 ways to make practical use of real-time payments

Tailor Ridge eBill case study

Overcoming the 3 key challenges of a lump sum relocation program

Higher education and the cashless society: Latest trends

Unlocking payment flexibility with intelligent payment routing

A simple guide to set up your online ordering restaurant

ePOS cash register training tips and tricks

Managing the rising costs of payment acceptance with service fees

Tap-to-pay: Modernizing fare payments pays off for transit agencies and riders

Zelle® helps Sunriver Resort make payments efficient and secure

Role of complementary new channels in your payments strategy

Streamline operations with all-in-one small business financial support

6 timely reasons to integrate your receivables

How COVID-19 is transforming healthcare payments

Luxury jeweler enhances the digital billing and payment customer experience

How Everyday Funding can improve cash flow

Payment industry trends that are the future of POS

Modernizing fare payment without leaving any riders behind

Access, flexibility and simplicity: How governments can modernize payments to help their citizens

Webinar: Digitizing receivables to transform B2B rent payments

Checklist: What you’ll need for your first retail pop-up shop

Increase working capital with Commercial Card Optimization

How mobile point of sale (mPOS) can benefit your side gig

P2P payments make it easier to split the tab

When your spouse has passed away: A three-month financial checklist

How to save money in college: easy ways to spend less

Myth vs. truth: What affects your credit score?

ABCs of APIs: Drive treasury efficiency with real-time connectivity

Hospitals face cybersecurity risks in surprising new ways

How jumbo loans can help home buyers and your builder business

How real-time inventory visibility can boost retail margins

Escheatment resources: Reporting deadlines for all 50 states

How electronic billing platforms improve government payments

Rethinking common time management tips

How to apply for a business credit card

How a small business is moving forward during COVID-19

How to accept credit cards online

Digital trends poised to reshape hotel payments

Three healthcare payment trends that will continue to matter in 2022

Safeguarding the payment experience through contactless

Cashless business pros and cons: Should you make the switch?

Understanding and preparing for the new payment experience

White Castle optimizes payment transactions

ABCs of ARP: Answers to American Rescue Plan questions for counties

Government agency credit card programs and PCI compliance

3 benefits of integrated payments in healthcare

Webinar: AP automation for commercial real estate

COVID-19 safety recommendations: Are you ready to reopen?

How to improve digital payments security for your health system

Top 3 ways digital payments can transform the patient experience

Webinar: Fraud prevention and mitigation for government agencies

Webinar: CRE technology trends

Webinar: Robotic process automation

Webinar: CRE treasury leader roundtable

Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.