6 Simple Time Management Techniques for First-Time Entrepreneurs

Business.com / Software / Last Modified: October 12, 2017
Photo credit: Nincha1911/Shutterstock

Time is an entrepreneur's most valuable asset.

People that start new ventures face many questions and challenges. When should I hire on help? Should I learn how to code and create my own website? As you try to find solutions to these problems, you'll probably turn to friends, advisers and mentors for advice.

All of these people will have ideas about how you should proceed, but they won't all be great ideas. As it turns out, bad advice – or too much advice – often plagues new entrepreneurs. Luckily, past entrepreneurs have gone through this process before, and drawing on their knowledge can expedite your decision-making processes and allow you to differentiate good advice from bad advice.

Established entrepreneurs have a lot of information to share, and a lot of it happens to center on one topic – time management. After all, time is an entrepreneur's most valuable asset.

Although there are a lot of ways to improve your time management skills, the tried-and-true technique among entrepreneurs is unique. Here’s their secret: Whenever you think about time management techniques, think about outsourcing. You simply cannot do everything yourself, and if you try, the growth of your business will suffer.

Below, you’ll find six outsourcing-based time management techniques. If you're a first-time entrepreneur, this article will provide you with valuable advice that you can use to streamline your operations.

1. Outsource your writing.

Writing content is a trying and time-consuming process. As a new business owner, trying to create consistent, high quality content that drives conversion can seem like an insurmountable task. Fortunately, you can outsource your writing instead of struggling to create and distribute it yourself.

There are a lot of platforms you can use to outsource your content writing – one of which is Upwork. This tool allows you to easily find quality freelance writers, and it can connect you to other types of freelancers, too, from programmers to customer support representatives.

2. Simplify your personal life.

One of the biggest challenges up-and-coming founders face is finding balance between their personal and professional lives. With a 9-to-5 job, keeping your personal and professional lives separate is fairly easy. However, as an entrepreneur, there's really no such thing as clocking out. Your venture will be part of your life, making balance paramount to success.

Occasion Station is a platform that helps the owners of new ventures stay connected with their loved ones. You simply upload important dates into their platform, and then their professional gift shoppers send presents to the important people in your life on the days that matter most, like birthdays and anniversaries.

Instead of taking time away from your business to think about the perfect gift, including where you’ll get it and how it'll be delivered, you can outsource this task and stay worry-free.

3. Optimize your conversion.

When you focus on improving your conversion rate, you can add tens to hundreds of thousands of dollars or more to your annual revenue. That being said, optimizing your conversion rates requires a deep knowledge of digital marketing and an up-to-date understanding of current trends.

To optimize your conversion rates and save time, you can use Conversion Rate Experts. They offer a money-back guarantee for first-time entrepreneurs if they aren’t happy with their results after six weeks of use.

4. Don't do your own accounting.

Your new venture's accounting needs only get more time-consuming and complicated as the business grows. To circumnavigate potential accounting issues down the road, you can hire a reputable person to run your books from the beginning. The right financial professional will also provide you with financial projections and reports that you can use in your business plan.

QuickBooks is an online accounting platform that can manage everything from your sales information to your payroll. A recent poll of QuickBooks users reported that 87 percent said the survey helped them make informed business decisions.

 

Editor's Note: Looking for accounting software? We can help you choose the one that's right for you. Use the questionnaire below to have our sister site, BuyerZone, provide you with information from a variety of vendors for free:

 

 

 

5. Hire a virtual assistant.

Sifting through an overflowing inbox and prioritizing communications is not an effective use of your time. Moreover, scheduling your own appointments and travel plans takes you away from what you should really be focusing on – growing your business.

First-time entrepreneurs can outsource all of their administrative tasks to a virtual assistant. Zirtual specializes in providing founders with college-educated virtual assistants that help improve communications and save time.

6. Play to your advantages.

The last – and one of the most important – time management techniques for first-time entrepreneurs is to outsource weaknesses. If you or your team struggle with a specific area, consider outsourcing it to improve quality and free up your schedule.

Starting a business isn't easy, and the never-ending suggestions and advice that come along with it are just as challenging. If you want to overcome these hurdles and find success, you’ll need to weed out the good advice from the bad advice. You'll also need to follow your own intuition and put time management techniques into place that are realistic and sustainable for you.

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