Why Is Time Management Important In Business? The Benefits You Need To Know
November 4, 2020
It may sound a bit like a cliche, but time is precious. And, it’s really valuable to us in our everyday lives, whether that is in business or at home. However, it’s perhaps the most prominent in business, where many people are often worried or stressed about not having enough hours in the day to complete the tasks that need doing to the standard that they want to do them! So, how can we make the most of the hours we have, to ensure that everything gets done in an efficient manner and to the best of our abilities? Well, the answer is time management! In today’s blog post, we’ll take a short look at what time management is, and answer the question of why is time management important in business? Keep on reading to find out more.
What is time management?
While it will mean something a little different to everyone, essentially, time management is the skill of planning your day and how the activities and tasks you need to do will fit into this. Good time management is a really vital skill to have if you want to be more productive and feel less stressed, even when deadlines are looming.
There are plenty of tools out there to help you manage your time more effectively, from making a traditional list with pen and paper, to dedicated apps that promise to revolutionise the way you work. Different things will work for different people, so it’s about finding what works for you and sticking to it! After all, you need to be motivated to practice good time management if you want to develop it, just like any other skill! Now we’ve covered what it is, let’s take a look at why it is just so important in the business world…
Why is time management important in business?
The number one aim of developing good time management skills is so that you can keep on top of all of your tasks, and even free up more space in your day! You may look at others around you and wonder how they seem to ‘do it all’ when it comes to work and even their home or family life. Often, the secret lies with good time management. So, if you want to improve your work-life balance, become more efficient at work, or simply get more done, time management is for you! But what are the tangible benefits, and why is time management important in business? Let’s take a closer look:
Make better decisions
When it comes down to it, business is all about decision-making. Making great decisions can lead to good things for your organisation, and making poor decisions can lead to some negative effects! So, it’s clearly important that we’re making good decisions as often as we can. And how do you make a good decision? By considering every option carefully and rationally. When we feel pressured, we are far more likely to just jump to conclusions and not take the time to do this careful consideration. However, when we learn to manage our time effectively, we won’t feel this pressure as much. As such, we will be able to plan in time to give our big decisions the consideration they need and deserve, and benefit our businesses as a result! Better decision making is a great skill to have in itself, and time management is something that can really help you get there and develop this skill.
Give yourself opportunities to learn
Learning and professional development are definitely important in business, no matter what sector or industry you might be in. There are many benefits to learning new skills. They can help you in your current role, and even equip you with the tools you need to advance your career if you wish. However, when you’re feeling snowed under with all of the work you have to do, it can be hard to find the time to dedicate to new learning opportunities. So, that’s where good time management skills can come in! If you’re managing your time more effectively, you will be able to prioritise everything you need to do, and see where learning and developing your skill set can come into this. There truly are opportunities for learning everywhere, so it’s up to you what to do! This could be anything from taking a course to shadowing a different department that interests you, or even just taking a few minutes to chat with your colleagues and learn more about their perspectives and insights.
Procrastination is something that everyone does now and then, it’s just in our human nature! However, those with good time management skills learn to do it far, far less. After all, if they want to stick to their time management schedule, there is no time for procrastination! Mastering the art of time management and giving each chunk of your time a specific job will definitely help to minimise procrastination if it is something that you find yourself doing a lot. If your time is managed well, your brain will be more engaged and focused, and you should find yourself enjoying your tasks more, so you feel the need to turn your attention to something distracting far less often. This is a win-win situation for everyone. You get more done in a shorter time, leaving you with free time to do things that actually matter to you, and not just mindless procrastination.
A better work-life balance
Leading on from this, it really is important to dedicate some time to doing the things that you enjoy outside of work. It gives you something else to focus on and an opportunity to relax and unwind. However, you may find yourself struggling to have a healthy work-life balance, because there’s just not enough hours in the day to get everything done! When it comes to the question of why is time management important in business, yes it is important for your working day. But it is also important for your life outside of the business world, too! What would you do if you had more free time outside of work, because all of your tasks are completed in the time you allot to them? Keeping busy and managing your time effectively means you get more done throughout the day, leaving you with a little extra time to enjoy yourself outside of work, too.
Reduce your stress
If we had a better work-life balance, many people would instantly feel less stressed. Well, good time management can give you that key! There are so many benefits to reducing your stress. You will feel happier, be able to sleep better, and it is just generally better for your health to be a bit more relaxed. In the business world, it is easy to feel overwhelmed, especially when you don’t know how long a task will actually take you, and you feel that you have too much on your plate. This is where practice comes in! You won’t become perfect at managing your time overnight. It takes effort, and trial and error, to find what works best for you. But, once you have found it, your stress should reduce. This is because you will have a clearer picture of what needs to be done, how long it will take, and how to manage expectations when it comes to deadlines.
Take control of your time and advance your career
This is our final point to answer the question of why is time management important in business. If you’re looking to move forward in your career, time management is a really important skill to master. Not only will it help you to get more done in a shorter amount of time, therefore showing that you are more efficient, it will also allow you to take control of your time! People around you will start to notice that you are making better decisions, taking advantage of learning opportunities, and just generally getting more done. This will always work in your favour if you do want to advance your career or build your business, as people will start to look up to you and want to know your secrets to getting everything done like you do!
This all seems simple, right? Well, you may be thinking that this is all easier said than done. While we hope that this post has helped answer the question of why is time management important in business for you. But, if you feel like your business needs direction, we are here to help. here at Chrysalis Partners South, we operate mainly in Surrey and Hampshire and work with all sorts of businesses to help them grow and thrive! We have over 50 tried and tested methods that are proven to work across a whole range of industries, and are set out in easy to follow formats that you will actually understand and implement.
We’re passionate about great businesses and great causes. Developing a great corporate social responsibility plan is a fantastic way of generating business. Yep, giving for good causes will generate you more business. Every single month we give away free resources in exchange for a suggested donation to directly support our chosen charity Action for A-T.