Time leverage is the process of getting the most out of the least amount of work, and it is a straightforward business concept. It focuses on simplifying and discovering the shortest path to the desired goal. There are only so many hours in a day, and you can accomplish more in less time by properly using your time and that of others. Leverage is a fantastic factor, and here is how you can leverage time to boost your business productivity and success.
1. Be clear about your goals
Clear goals are critical for leveraging your time and staying focused. Be as explicit as possible about your objectives and clearly outline what you need to do to achieve them. This encourages productivity since you will streamline your strategies toward achieving your major goals. Clarity about your business also eliminates delay and the time spent on unnecessary or less-pressing activities. Aside from being specific, the process involves commitment, regular assessment, and progress measurement.
2. Add deadlines to set goals
It is one thing to set goals and another to achieve them. Outlining your objectives undoubtedly allows you to make better use of your time. However, a proper approach is to make it quantifiable by including deadlines. You work significantly more effectively and efficiently when you have measurable outcomes and a deadline. According to research, deadlines directly force you to organize in order of priority to achieve your most important goals. When you're clear on what you want to do and when you want to accomplish it, you will more likely brainstorm the quickest way to get there.
3. Identify specialists for additional tasks
Delegation is beneficial because it saves you time and improves productivity. However, it is critical to understand why you want to delegate certain tasks. What task have you identified? Do you have anybody inside your business more qualified for the job? You can delegate or outsource some jobs, including recurring ones, those that are less beneficial to your business, time-consuming tasks, and those you don't have the expertise for. However, some jobs, like tax planning, require more expertise. So you might want to find a CPA to guarantee you are saving some money and enhancing your financial situation.
4. Have a management or follow-up plan
A follow-up or management plan is another time leverage approach for boosting productivity. This is especially crucial when you delegate tasks for the execution and completion of a project. Many people mistake micro-managing for following up. However, while the former indicates distrust in team members, the latter demonstrates the importance of the project, allowing managers and team leaders to accurately predict workflow to keep things running smoothly. Additionally, a follow-up plan guarantees delegation success. To design an effective management plan, you may have to first learn the best ways to assign tasks and responsibilities to your teams and ensure they are accomplished per your expectations and guidelines.
You can only benefit from leverage if you apply it correctly. Consider these tips when looking for ways to boost your business productivity and success.