How to Improve your Time Management

[Rick Howell]

Ever wish you had a few more hours in the day? Or that you could clone yourself to get more accomplished? We may not be able to do either of these, but with good time management, you can get more done in the 24 hours per day we do have. Watch out for these five areas that prevent you from managing your time effectively.

Procrastination

Procrastination is one of the biggest time management challenges investors face. With no one to answer to, and no specific schedule to keep, it is easy for investors to put off tasks they do not want to tackle. Staying focused and on task is tricky when you have the freedom to choose otherwise.

To combat procrastination, plan out your day in a way that works best for you. If you are a morning person, for example, you may find that tackling some of your more challenging tasks first gets your day off to a productive start. Others may find that crossing off several small items first creates a sense of accomplishment, which carries over to the bigger tasks later in the day. Once you find what works for you, you will have an easier time living up to the saying, “Don’t put off until tomorrow what you can do today.”

Lack of Organization

Staying organized in the midst of seemingly countless tasks and decisions can be overwhelming. If you struggle with organization, start small. Write down what you need to accomplish that day, and cross off items as you complete them. Seeing the list getting smaller will encourage you to keep going. The sooner you learn to hold yourself accountable—because no one else will—the sooner you will find you accomplish more in your day.

Technology Crutches

Technology is great. But there is a downside to our ability to constantly be “plugged in.” Pay attention to how long you are on Facebook or Instagram. You may be surprised that what feels like a few minutes is actually closer to an hour of lost productivity. For better time management, set aside a certain amount of time each day to respond to emails and update your social media feeds, then unplug. Your contacts need to be able to reach you by phone, but beyond that, it can probably wait.

Multitasking

Multitasking is dangerous simply because it’s rarely as achievable as we like to think it is. You are far more productive if you focus on one task, complete it, and move on. Trying to juggle is not going to produce the same quality results. To be sure, there will be times when a single-minded focus is just not possible. This is a complex business and most investors have many irons in the fire at a time. But if you can be more single-minded when possible, you will achieve more in the same amount of time.

Micromanaging

Property investors can feel like they have to keep a tight hold on every aspect of every deal. After all, you are ultimately responsible for your business. But micromanaging becomes mentally exhausting and drives away good business partners who are more than capable of handling their piece of the puzzle. If you spend more time building a successful team, you can spend less time watching over everyone’s shoulders.

Like any small business owner, you have a lot of responsibilities, and only so many hours in the day. By making changes to work more efficiently, you will find you can make the most out of every day.