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No 31                                                                                    August 2004

Making Time

You planned on getting to work early to finish the project that's due today but everything conspires against you, the computer has a virus, the family has a crisis, the computer doesn't start properly and then to top it all off, the fuse in the switch board decides to have a "time-out". You frantically start to put things to rights but there's no way you're going to have time to finish your project. You start to panic. And the clock just keeps ticking………

Most of us have felt swamped at one time or another. With hectic work schedules, family responsibilities, and social engagements, there just doesn't seem to be enough time for everything we need and want to do. However, there is light at the end of the tunnel. Although life will always provide us with its little twists and turns, once we learn to manage our time wisely, much of the day-to-day chaos in our lives can be reduced or even eliminated.

The first step in learning how to manage your time is to develop a general work schedule. Your work schedule should include time for yourself as well as time for the maintenance of your business.

After you've defined the major elements of your workload, the next step is to prioritise them by identifying critical deadlines, routine maintenance items, and fun/relaxation time. Answering questions like "How much time do I have to make this decision, finish this task, or contact this person?" will help you to start identifying what needs to be done immediately versus what can wait. Setting priorities depends on deadlines, how many people you must call to get the information you need, and whether you can delegate or get assistance from others. If you are involved in group projects, reserve additional time for communication and problem-solving.

Once you have identified your priorities, look at all of your options for achieving them. Evaluate and move forward with the ones you feel are the most useful for you. The only time to consider changing approaches mid-task is when you know the change will save time. If you are in doubt, it is usually best to consider in the direction you started.

By setting up your work schedule and identifying your priorities, you have already started down the road to more effective time management.

Take a few minutes at the start of each day (whenever and wherever that starts) to plan what might be done, what is achievable and how the priorities might be met.

Other time management suggestions you may find useful for managing both your business life as well as your personal life include the following:

• Contract out tasks. Contract out tasks you do not have the expertise to complete. Your client will appreciate your honesty and effort to get the best result.
• Start with the most worrisome task. Start the morning, afternoon, or evening with the most worrisome task before you. This will reduce your anxiety level for the next task.
• Complete deadline work early. Not only will this reduce stress and lighten your work schedule, but it will also give you more self-confidence about managing your schedule.
• Know your capacity for stress. When you are hitting overload, take the break you need (even if it is a short one) when you need it.
• Stay organised. Take time at the end of each day to briefly organise your desk and make reminder lists of tasks for the next day or week.
• Take advantage of "down time". Allow yourself some "down time" between busy periods to review your schedule and re-evaluate your priorities.
• Get physical. Physical exertion such as walking, bicycling, swimming, or organised sports activities helps to discharge stress. Stretching, yoga, jumping rope, sit-ups, playing with children, or doing yard work are other types of therapeutic breaks you should consider during times of stress.
• Have fun. Be sure to have some fun while working or playing; a good sense of humour can keep most problems in perspective.
• Divide up your time. Decide how much time to spend on business development, personal needs, volunteerism and family. Start by allowing 25 percent of your time for yourself. Each time you make a commitment, set a timeline for your involvement. Remember that maintenance takes at least 25 percent of the time you spend on any project whether it's business, marriage, or serving on the board of a non-profit organisation.
• Build flexibility into your schedule. Your availability to family and friends depends on the flexibility you build into your schedule. Female business owners frequently have the primary responsibility for making sure family members are cared for when they are dependent or ill, so it's necessary to leave some time in your schedule for emergencies or to have good backup resources. Get to know your neighbours so you know who to call on for help in times of crisis.

In the bigger picture, consider the relationship between your business life and your personal life. Be as realistic as possible when answering the following questions, keeping in mind what is most important to you:

• What are your long term goals? Your partner's goals?
• Where are the conflicts, and where are the similarities?
• What is it that you really want to do? List all possible ways to accomplish this.
• How long will it take you to reach your goal?
• How do your timeline and goals affect your family (parents, siblings, partner, children)?
• How do your personal goals conflict with or match your business goals?
• How much time can you donate to community programs?
• Have you talked about your personal goals with your business partner?
• Have you talked about your business goals with your personal partner?

Don't underestimate the toll that emotional stress takes on your physical health and your ability to concentrate on your work or enjoy time with your family. Make sure you have time for the important people and events in your life.

Taking Time Off

Sometimes the hardest part of running a small business is knowing when it's okay to take a break. After building the business from the ground up, it's hard to separate where work stops and the rest of your life begins. This same tension remains for the experienced portfolio worker

Nevertheless, it's safe to say that taking some time away from work will make you more productive in the long run.

Exit strategy. Before you go, you'll need to make sure that everything is in order. Plan vacations during periods where you know that there will be a lull in the business. Plan far enough in advance that you can be sure not to schedule any appointments during the time you'll be away. If you're not the sole trader, make sure that whoever is around has a clear idea of what is expected of him or her during your absence, and knows when it's necessary to contact you.

Your time away. It would probably be best for your sanity if you could forget about work during your time off, but this isn't always practical. Try to schedule any work you must do in short, discrete blocks of time - an hour in the morning before you start the rest of your day might be a good time to make essential phone calls or answer crucial e-mails. If you'll be changing time zones, the late afternoon might turn out to be a better time. Do your best to think about work only during these times, and you'll find that you're more refreshed when you return.

Getting back in the swing. Getting home from a 2-week vacation on Sunday night and heading into the office on Monday morning can be a little overwhelming. With some advanced preparation, your re-entry into the business world can go smoothly. First, it might be better to arrive home with a day to spare before you have to go back to work - for instance, fly home on Saturday instead of Sunday. That way you can take care of things around the house on Sunday, and mentally prepare for the workweek. Take a copy of your work calendar home, and leave it at your house so that you can refer to it when you arrive back from your vacation. If you can, quickly scan your voice mail and emails on Sunday evening so that you know what to expect in the morning.

If you plan carefully, and devote the same concentration to rest and relaxation as you do to your business, your time off will provide a much-needed change of pace.

The NEWORKer can be viewed online at the Work & Age Website http://www.nework.co.nz

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