Time Management Tips for Young Entrepreneurs

Running a business is always time-consuming. This statement applies to an even greater degree when you’re a young entrepreneur trying to secure small business loans and other essentials to get your business up and running smoothly. Since you may not have as much experience as someone a little more seasoned, you might not know how to manage your time as effectively as possible just yet.

Don’t worry if that’s the case. You can always learn to be more efficient. These tips will help!

Keep a Schedule

This should go without saying. However, it’s worth mentioning, as some young entrepreneurs mistakenly believe the amount of time it takes to create and maintain a schedule could be better spent on other tasks.

That’s not the case. There’s a reason some of the most successful founders and business owners in Europe (and the world) emphasize the value of a schedule and routine. 

Remembering what you have to get done every day requires a lot of mental energy. This makes it difficult to work efficiently. With a schedule, you don’t have to keep track of everything in your head. This frees up more energy and makes you more productive in the long run.

Learn to Focus

It’s tempting to multitask when you’re a busy entrepreneur. Unfortunately, most experts agree that the vast majority of people aren’t capable of doing so effectively. You’ll get much more done if you focus on one task at a time.

Learning how may require some effort if you’re accustomed to being hyperstimulated. Luckily, through practices such as mindfulness meditation, you can develop the ability to focus your attention in a more directed way, greatly boosting your productivity as a result.

Set Aside Unstructured Time

The schedule of a young entrepreneur will generally be pretty full. That said, it’s still necessary to set aside unstructured time, where you can focus on any tasks (even if that means taking a break to play a game or check social media) you like. 

This offers two major benefits. First, it guards against burnout; even if you’re getting work done, you’ll sabotage your own time management strategy if you work yourself to the point of exhaustion.

Second, it gives you time to be creative. Unstructured time should be an opportunity to direct your attention to tasks that may not yield immediate business advantages, but may lead to new insights in the long run. This is how some of the history’s top entrepreneurs came up with some of their best ideas!

Audit Your Time

Don’t forget about the role technology can play in time management. These days, there are numerous apps and programs you can use to track how you use your time over the course of an average day.

This is key to identifying time-wasters. For instance, you might discover you spend too much time drafting emails to clients, when you could delegate that task to someone else.

That’s important to keep in mind. Again, it’s entirely possible for any young entrepreneur to develop stronger time management skills. A major part of that involves knowing how you spend your time now. By keeping these tips in mind and tracking your own behavior, you’ll learn to be much more efficient.

Author: Rae Steinbach

Rae is a graduate of Tufts University with a combined International Relations and Chinese degree. After spending time living and working abroad in China, she returned to NYC to pursue her career and continue curating quality content. Rae is passionate about travel, food, and writing for Funding Circle.

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