Time blocking tips for entrepreneurs
The more well-balanced your schedule, the more well-balanced you, and your company, will be.
You’ve scheduled meetings with investors, interviews with job candidates and calls with advisors. But did you remember to schedule time to write, reflect and feed your personal life?
Unfortunately, entrepreneurs typically overlook some of the most important time blocks that make a well-balanced schedule. Time for self-development and learning is just as important as the time it takes to keep the business growing.
Entrepreneurs, make sure the following time blocks are on your calendar each week
Time to know your numbers.
Behind every successful business is a lot of data, whether it’s a study that supports your elevator pitch or forward-looking trends that back up your revenue forecasts.
If you reference a study, do you know how many respondents there were and what the margin of error was? Do you know the economics of your SOM (Share of Market) like the back of your hand?
Entrepreneurs need to know their numbers. That includes operating expenses, COGS (Cost of Goods Sold), your timeline to profitability, industry data, and much more. Take time each week to study your numbers and look for any changes. The more you know, the more you grow.
Self-development time
Self-development time is whatever you deem necessary to learn and grow as an individual. This could mean reading a book on a topic you haven’t yet mastered, meditating to clear your mind, doing yoga to stay physically fit, watching a documentary about a leader who inspires you or listening to a podcast about self-care.
If you’re not taking time to better yourself, you’re doing your company, employees, and customers a disservice. The more you learn, the more you, and your company, earn.
Time for customers
You’re the leader of the company, and you’re busy, but that doesn’t mean you get to overlook those who use your product or service. If anything, you should take more time to show appreciation to your customers. Without them, your business wouldn’t exist.
Interact with your customers on social media and take time to respond to comments directly, even if it’s just for a few minutes every other day. Engage with those who make your company what it is. Never let your hubris get so big that you forget the people who are technically putting money into your bank account. The more you care, the more your company can bear.
Time to write
What good is being the leader of a company and learning valuable skills and insight if you don’t share that with others? You don’t have to be a published author to write articles for your company’s website or publications like Medium. The more knowledge you bestow, the more seeds of inspiration you sow.
Time to reflect
The startup world often feels like it’s moving at 1,000 miles-per-hour. So much can happen in any given week that it’s difficult to stop and reflect on your successes and failures. But in these moments are extremely valuable opportunities to learn. At the end of each week, take time to reflect on what happened to you and the company.
Did you make a poor decision this week? What can you learn from that? Did you have a great meeting with an advisor? Write down the most important take-away. The more you reflect, the more wisdom you collect.
Time for friends and family
Burnout is a very real thing that happens to many CEOs. We’re all human. We need love, friendship, and camaraderie. Don’t sacrifice your personal health and mental well-being for a jam-packed schedule. The better you feel, the better off your company will be.
We all need time away from work, and that’s especially important for the leader of the company — the visionary — who must ensure the Golden Circle is always in balance. Whether you leave the office at 6 pm, take off on a random Friday, or don’t check emails on Saturday, always give your loved ones the attention they deserve. The more quality time you spend with those who love you, the more energy you have to give those who work for you.
Time to relax
Do you know those people who say “I’ll sleep when I’m dead”? Don’t listen to them. Research shows that the mind needs sleep to function at full capacity. And it also needs to relax. Sometimes that means sleeping 6 or more hours a night, and sometimes it means relaxing your mind while awake (meditating is great for this). The more you rest your mind, the more mental strength you will find.
As the leader of a company, it’s important to meet with investors, employees, and business partners, all while making sure there’s enough money in the bank to pay the bills. However, it’s equally important to make sure you have a balanced schedule so you can continue giving your company the energy it requires.
How can you keep track of it all?
Knowing what to put on your calendar is one thing. Actively managing a well-balanced schedule is another. The point of these tips is to make sure you’re not filling your calendar with meetings and calls at the expense of bettering yourself for the betterment of your company.
As Simon Sinek said, “those whom we consider great leaders all have an ability to draw us close and to command our loyalty.” Great leaders don’t burn themselves out. They take care of themselves just as much as their company, employees, and customers. Great leaders understand the importance of work-life balance.
