Build a Good Time Management Plan For Your Business

by | Jul 22, 2020 | Business Planning, Featured, Goals, Grow to Greatness, Grow to Greatness in Real Estate, Time Management

time management, business coach, coach Cheri AlguireThe second half of 2020 is here, how are you doing with time management?
Are you following a plan to work out your business activities everyday?
Or are you simply eyeballing it, responding to events as they come?
Are you being efficient in running your business even during this pandemic season?
Have you ever heard “the best made plans of mice and men often go astray?”
The old adage applies to your business plan if you do not manage your time effectively and/or delegate activities when needed.
You may have the most inspiring vision, the best financial management plan, or the most effective production strategy – if you don’t use your time or resources well, you’ll end up wasting all of it only to see your business fall.


Let’s take an in-depth look at time management by watching how you spend your time when working.
Begin with a work day and then expand your analysis to the entire week. How much time do you spend “IN” the business? 
This refers to the crucial everyday details of the job. It includes the showings, the opens, the listing appointments, and the negotiation of contracts. 
How much time do you spend on the technical aspects of the business?
The accounting, the scheduling, the entering of data and working on files?
Without question, this can take the lion’s share of any given work day. However, danger awaits you if that is the case.


Working “ON” the business is vital if your business is to ultimately succeed and cannot be ignored.
These tasks include management of the business and visionary activities. It includes mentoring, motivating, training and tracking accountability. It also includes “the big picture” activities like studying, reading, attending speakers and seminars.
The problem with working ON the business is that it is too easily set aside for the daily “put out the fire” duties of tending to clients and paperwork.
But that is why it is critical to create a physical time management plan that you abide as religiously as your budget. Chart it out, mark it in your online calendar, and pay attention to it.
Similarly, you must think ahead in terms of the number of tasks that have to be completed to successfully make your business run.
Have you ever read THE E-MYTH by Michael Gerber? Read or revisit it again in order to (re-)learn the lesson of the danger in wearing all the hats.
Probably the best way to delegate the workload of the business is to create and refer to the resources chart and written job descriptions. If it’s not your job—delegate!
If the person responsible isn’t doing the job, confront the problem and replace him/her as needed.
You are running a business.
Without delegating responsibility, you will not be able to hit your goals with ease .
And you won’t be having any fun, either.