Running a business means juggling multiple projects and filling a variety of roles, sometimes in the space of a few hours. While expertise and ambition are vital characteristics for any entrepreneur, effective time management skills are one of the most important ingredients for success. Below are a few ways to develop time management habits that will contribute to your business development.

What Is Time Management?

Time is a resource that must be used carefully, so business owners or professionals who develop management skills will usually be more effective. Time management consists of deciding which projects require immediate attention, awareness of how much time has passed while working, and knowing when to move on to the next project.

What Are Some Tips for Improving Time Management?

Many business owners feel that they have to handle everything themselves, which often means spending hours every day working on something someone else can do. Learning how to delegate day-to-day tasks frees up time you can spend focusing on projects only you can complete.

Breaking your day up into several different time slots can also make management easier. Take notice of how well you perform at different times of the day, and dedicate high-productivity time slots to more important tasks. This will help you focus more on priority projects that can actually build your company and improve your business development.

Finally, learn to think about time as if it were money. This can help you create a “budget” and be more careful about overspending this vital resource on one project. When budgeting your time, consider which projects absolutely have to be completed and what can safely wait until later.

Since 1955, Greater North County Chamber of Commerce has been providing entrepreneurs throughout the St. Louis area with the business development advice and resources they need. No matter what industry you’re in, this accomplished Chamber of Commerce offers training courses and networking opportunities to set you on the path to success. Visit their website or call (314) 831-3500 to learn more about the benefits of membership, and follow their Facebook for more business development tips and advice.