Time Allocation: Creating a Formula for Your Business

Time_blog_June2015Contributed article in our entrepreneurial business series. Enjoy! – Kimberly

Running a business is a time consuming endeavor. If you don’t allocate your time well, it can quickly become difficult to manage. Entrepreneurs often work unusual hours and in unorthodox spaces. The Bureau of Labor Statistics reports that 56 percent of people who are self-employed have worked from their homes and 43 percent have worked on the weekends.

So, how can you manage all of the tasks needed to run your business? Allocate your time carefully with this formula so you can master your schedule instead of serving it.

Be the Boss: 5% of Your Time

As counterintuitive as it may be, running your company shouldn’t dominate your schedule. You need to manage employees, handle payroll and pay the bills to keep your business operational, so create a smooth and effective way of getting these tasks done.

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