The majority of small businesses might only be able to dream of having an office based on a private island like the one Virgin boss Sir Richard Branson owns, but they can learn to save time like him.
Running a company can be an exhilarating yet intimidating challenge as no two days are the same. Whether you’re managing a fleet of vehicles and drivers or regularly meeting clients, there are some tips that anyone can put into practice. We spoke to business owners about how successful entrepreneurs have inspired their own time management. Here’s what they said:
Take notes and communicate
“It’s interesting that you mention Branson, as he is a big fan of writing notes using pen and paper. I find this really useful to manage my lists of stuff to do and ideas,” says Tom Horigan, director of the eponymous company that provides professional services marketing for accountants and solicitors. He think jotting something down makes you more likely to act on it.
Branson has also talked about finding time to answer as many emails as possible. He recognises that senior executives may simply delete messages from people they don’t know, but he finds this impolite. Instead he dictates some responses to his assistants, forwards others to colleagues to deal with, and replies to a few himself.
“Some emails may not be mission critical but it’d be nice to answer as a courtesy,” says Esther Stanhope. Stanhope runs an impact coaching business that helps city professionals deliver pitches and presentations, and her clients have included Shell Trading and Shipping, the arm of the company responsible for managing the fleet of oil tankers. “It’s important not to burn bridges. You don’t need to be approachable, just good at communication and customer service.”
Any email could generate future business in the long-term, she adds, but it’s essential that correspondence doesn’t get in the way of dealing with tasks that require immediate attention. Tony Hsieh, CEO of online clothes retailer Zappos, is known for his Yesterbox system: replying to yesterday’s emails today. Other entrepreneurs reply to emails first thing in the morning or in the evening, while companies such as PBD Worldwide have introduced ‘No Email Friday’ as a way of improving workplace productivity.
“I no longer read unimportant emails as and when they come through. I save them until later when I have a time slot,” says Stanhope. “For example, if I need to give clients feedback after a coaching session, I book one hour to consider and craft the email.”
Create time slots, focus and prioritise
Stanhope draws up time slots for everything, whereas before, she says, she was trying to do too much at once and would find herself in a constant panic.
“I was on a panel [in May this year] at Mumsnet Workfest with Dale Murray – the businesswoman who introduced mobile top ups to the UK phone market – and she gets up at 6am and makes her ‘hot’ to do list of priorities for the day ahead,” adds Stanhope. She admits that up until recently her time management wasn’t nearly as good, despite previously being a BBC producer who was used to meeting tight deadlines. “I don’t get up [that early], but [doing this] and learning to focus on the things that make the business successful has been a game changer for me.”
Prioritising is a motivator for Horigan too, but he doesn’t just look to Branson for inspiration. “I like to learn something from anyone I can,” he says. In this instance it’s Sheryl Sandberg, chief operating officer at Facebook.
“Sandberg reckons you can only do so much,” Horigan adds. “She says you need to pick the three projects that are really going to matter and do those really well. Don’t even try to do the others.”
Delegate and get the worst thing done first
Horigan advises businesses to consider applying Sandberg’s approach of picking just a few projects that are really going to matter. However, he acknowledges that identifying the rights ones can be tricky. To lighten the workload certain tasks such as accounting, general administration work and external marketing may be best delegated to qualified individuals who can be trusted.
Ian Cass, managing director of the Forum of Private Business, likes to delegate as part of the way he sorts his daily workload.
“I’m a great follower of Brian Tracy’s concept of ‘Eating the Frog’,” says Cass. He is referring to the Canadian entrepreneur’s technique that takes its name from a quote often attributed to Mark Twain, which says that if you eat a frog in the morning, nothing worse will happen to you. “Each day I look at what I need to do and categorise it in terms of urgency and impact – I [concentrate on] what I am best at doing and delegate the rest. The worst item on my list is the first to do (eating the frog) and the day seems better once it’s out of the way.”
Unwind and reflect
Branson has written that small businesses owners may often find themselves overworked and this can lead to burnout.
Delegating and eating the frog may help ease Cass’ mind and workload, but for him it’s as important to know when to relax after a productive day in the office as it is to win clients and build partnerships. “I reward myself with a gin and tonic at the end of the day. I can, because I own the business.”
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