7 time management strategies for business owners

Learn how to implement time management strategies into your work for increased productivity and gain insights into the many benefits of razor-sharp time management skills.

Utilizing effective time management strategies is crucial for business owners. It allows you to maximize productivity, accomplish goals, and maintain a healthy work-life balance.

However, the American Psychology Association found that 20% of people in the United States have regular procrastination problems. Additionally, 82% of people don’t have time management strategies to help them stay productive throughout the day. 

So, to help you manage your day-to-day workload as a business owner, here are seven tips for honing your time management skills.

Jump to:

• The importance and benefits of setting goals
• 7 effective time management strategies
• Time management techniques
• Time management tools
• Additional tips for enhancing your time management skills
• Utilize clientflow software to work more efficiently

The importance and benefits of setting goals

No matter where you look, there’s one claim or another about how much time you can save by having a plan. No matter the number, what is always the same is that, in the end, setting goals and creating a plan to reach your goals saves time. 

Here is a breakdown of how it helps:

• Direction and focus – Goals give your business a clear sense of direction. They act as guiding stars, helping you navigate daily tasks and decisions.
• Prioritization – Goals help you prioritize tasks and activities. They help distinguish between what is essential and what is urgent. By understanding your goals, you can plan tasks based on their relevance to your goals.
• Resource assignment – When you set goals, you better understand what’s needed to achieve them. This includes time but also financial, human, and technological resources.
• Measurement and progress tracking – Setting goals and planning gives you a measurable way to track progress and success. By setting specific, measurable goals, you can see your achievements and better understand when your time management strategies are working.
• Motivation and fulfillment – Part of achieving increased productivity through time management is staying motivated. Setting a plan and reaching your goals gives you a sense of fulfillment, further motivating you as you go forward. 

7 effective time management strategies

Now that you’re ready to set goals, here are some effective time management tips to help you meet those goals. The list is divided into time management techniques and time management tools.

Though the phrase “time management” didn’t become popular until the 1950s and 60s, humans have been trying to figure out how to best use their time for centuries. Here are a few modern techniques that are effective for increased productivity:

1. The Pomodoro Technique

The Pomodoro Technique is a time management method developed by Francesco Cirillo. It promotes focus and productivity by breaking work into specific time intervals, known as “pomodoros,” followed by short breaks.

The Pomodoro Technique begins by selecting a task to work on and setting a timer for one pomodoro — 25 minutes. During this time, you dedicate your full attention and effort to that task, aiming to complete as much as possible within the given timeframe.

After the pomodoro ends, a short five-minute break is taken. This break allows for mental rest, physical movement, and relaxation before diving into the next pomodoro. Then, you repeat the cycle of 25 minutes of fully focused work followed by a five-minute break. This process is repeated four times, at which point you’ve completed a cycle of pomodoros. When you’ve completed a cycle of pomodoros, you can take a break between 15 and 30 minutes long, at which point you will begin the next cycle.

So, as a repeatable outline, the process looks like this:

• 25 minutes of fully focused work (one pomodoro)
• 5-minute break
• 25 minutes of fully focused work (2nd pomodoro)
• 5-minute break
• 25 minutes of fully focused work (3rd pomodoro)
• 5-minute break
• 25 minutes of fully focused work (4th pomodoro)
• 15 to 30-minute break 
• Repeat cycleCheck-in

The unique benefits of the Pomodoro Technique come from its structure and principles. This time management technique enhances focus and prevents burnout by breaking work into manageable intervals.

2. The Eisenhower Matrix

The Eisenhower Matrix helps with prioritizing tasks based on their urgency and importance. The matrix divides tasks into four quadrants.

The first quadrant includes tasks that are both important and urgent. These tasks require immediate attention and should be dealt with promptly. Examples may include critical deadlines, urgent client requests, or time-sensitive projects.

The second quadrant has tasks that are important but not urgent. These tasks contribute to long-term goals, personal growth, and strategic planning. Examples may include planning, goal-setting, skill development, or building relationships.

The third quadrant is for tasks that are urgent but not important. These tasks often involve distractions, interruptions, or activities that can be delegated or eliminated. Examples may include non-essential meetings, unimportant emails, or interruptions that hinder productivity.

The fourth quadrant contains tasks that aren’t urgent or important. These tasks have low significance and do not contribute significantly to your goals. Examples may include mindless scrolling on social media, unnecessary distractions, or time-wasting activities.

So, in practice, your Eisenhower Matrix may look something like this:

	Urgent	Not urgent
Important	Report due by end of day Urgent client request Scheduled client meetings for today	Schedule strategic planning meeting Check-in on long-term project progress Brainstorming session for new marketing plan
Not Important	Overall check-in meeting scheduled at 9am Message back about today’s lunch menu	Shopping online Checking social media Scrolling non-business related news

3. Timeboxing

Timeboxing uses specific time blocks, or “boxes,” for tasks or activities. It begins by breaking down your day into distinct blocks of time. Each block is dedicated to a particular task or category of work. 

For example: 

• 9:00 – 9:30: Meditation and planning/goal setting
• 9:30 – 11:30: Focused project work
• 11:30 – 12:30: Emails
• 12:30 – 1:30: Lunch
• 1:30 – 2:00: Project status meeting with team
• 2:00 – 4:00: Client meetings 
• 4:00 – 5:00: Administrative tasks and workday wrap-up

By setting specific time limits for tasks, timeboxing creates a sense of structure and urgency, promoting disciplined work habits and minimizing procrastination. It helps prevent tasks from expanding beyond their intended timeframe and encourages focused and efficient work.

Timeboxing also improves productivity by eliminating the urge to multitask. Instead of switching between multiple tasks, you allocate dedicated time for each task, avoiding the loss of focus and productivity that can come with task-switching.

4. Block scheduling

Block scheduling divides your day into distinct blocks of time, with each block dedicated to a specific task or category of work. begins by identifying the key tasks, projects, or categories of work that require your attention. Based on their importance and urgency, you allocate specific time blocks to each task.

For example, you might assign a block for strategic planning, another for client meetings, and another for focused project work. These blocks can vary in duration based on the complexity and priority of the task. 

By using block scheduling, you create a clear and predictable structure for your day. Knowing in advance how your time will be spent prevents you from wasting precious time and energy on figuring out what to do next. Having these blocks of time is one of the best time management strategies because it creates boundaries and helps you maintain discipline throughout your workday.

5. Pareto analysis

Also known as the 80/20 rule, Pareto analysis helps prioritize tasks based on their significance and impact. The principle states that roughly 80% of your results come from 20% of your efforts.

Begin by evaluating your tasks and categorizing them based on their importance and impact. This involves identifying the tasks that contribute the most to your goals, productivity, or desired outcomes. These tasks typically fall into the 20% category, representing the vital few tasks that yield the majority of the results. By focusing on the tasks within this vital 20%, you can prioritize them over less impactful activities.

The unique benefits of Pareto analysis come from identifying and prioritizing the tasks that yield the most significant results, allowing you to streamline your efforts and optimize your time management.

Time management tools

Like most jobs, having the appropriate tools to execute your plans is very helpful. Luckily, there are several options when it comes to finding time management tools.

6. Task management apps

Time management apps can help implement your new time management strategies by offering you a place to create and organize your tasks, set timers and reminders, and even help you plan and schedule your days. Some useful examples are the:

• Pomodoro Timer – Specifically designed for those using the Pomodoro Technique
• Toggl – A time-tracking app that helps you monitor the time spent on different tasks and projects
• HoneyBook – An app that helps you create projects, message clients, and track payments all in one place
• Evernote – A note-taking app that helps you organize tasks, create to-do lists, and set reminders

7. Project management software

Project management software is a powerful tool that helps with time management strategies by providing you with a single platform for planning, organizing, and tracking projects. Depending on the software you choose, it may offer additional features like:

• Workflow automation – This helps to automate repetitive tasks that are time-consuming, helping you save time and avoid errors while you are doing the same thing many times.
• Client communication – Some software offers a single place to communicate with clients and share documents, helping you manage clients more efficiently.
• Payment processing and analytics – Within this single program, it’s helpful to be able to both process and track financial information that helps you maintain a clear picture of where your business is financially without having to schedule a separate meeting for it.
• Mobile access – If you’re on the go, then it’s helpful to be able to access your information and do any work necessary without having to be at your desk all the time.

Additional tips for enhancing your time management skills

In addition to all the techniques and tools, there are some simple habits you can adopt to help you enhance your time management strategies.

First, find something that helps you relax and focus, whether that’s meditation, journaling, or any number of self-care routines. Studies have shown that mindfulness exercises such as meditation help with mental discipline, focus, and even memory.

Taking breaks is also a valuable habit that helps you boost your time management skills. It’s been found that even a 10-minute break can reduce fatigue and increase stamina throughout the workday. If you’re having trouble finding time in the day for a break, perhaps learning to say ‘no’ will help. For a business owner, many tasks require your attention, but at times, you need to say ‘no’ so that you can get the break you need to return to work with focus and strength.

Finally, learn to delegate tasks. Yes, you can do everything, but if you do, then you risk burnout or won’t be giving your full attention to the tasks that matter most, resulting in a lot of jobs that are half-done instead of a handful of jobs that are well done. Delegating tasks not only frees up your time but also allows your team members to develop their skills and contribute to overall productivity.  

Utilize clientflow software to work more efficiently

You want to develop effective time management strategies, but you need help. HoneyBook’s clientflow platform can help you manage every step of the client experience. 

Integrating project management, payment processing, and streamlined communication, HoneyBook is the best time management tool to help you focus on high-value tasks, prioritize your workload, and delegate responsibilities with confidence.

Plus, our workflow automation saves you countless hours otherwise spent on repeat tasks so that you can focus on running and growing your business.