Does every day in your business feel chaotic and disorganized? Maybe you sense that you’re wasting way too much time on stuff that doesn’t matter. You’re not alone. Statistics show that up to 80% of the average working day is spent on activities with little to no value.
So, what can you do to get the most out of your day when you have to do it all? In this post, we’ll share strategies you can use to leverage your time better so you can work smarter.
TIME-STAMPED SHOW NOTES:
[00:53] Wasted Time is a Big Challenge for Business Owners
[04:59] Where You Waste the Most Time
[10:14] Track Your Time to Leverage Your Time
[12:55] How to Track Your Time
[16:42] Why You Should Leverage Your Time
[18:58] Batch and Schedule Social Media Content to Leverage Your Time
[21:04] Create a Filing System to Manage Documents to Leverage Your Time
[24:31] Create Systems for Repeatable Tasks to Leverage Your Time
[26:05] Final Thought about Leveraging Your Time
[27:41] Bloopers
RESOURCES MENTIONED IN THIS EPISODE:
Toggl
HoursTracker
Harvest
Timely
Hootsuite
BufferApp
Tailwind
Eclincher
SocialPilot
Wasted Time is a Big Challenge for Business Owners
[Theresa] Hey Meghan. I was reading up on some current time management stats and I saw something really interesting. Did you know that business owners waste up to a third of their week on low-value activities? A low-value activity is a task that has to get done in your business but isn’t the best use of your time. For example, scheduling social media or doing your own accounting.
And that 80% of the average working day is spent on activities with little to no value? Just to be clear here, a no-value activity is those you shouldn’t be doing at all. It doesn’t contribute to the growth or finances of your business. For example, having a Facebook strategy when your niche is teens in the USA. They aren’t on Facebook, so spending time or money there won’t generate leads or revenue.
What do you think about those stats?
[Meghan] That’s nuts! It’s no surprise that business owners waste time on low-value activities, but I am surprised that the numbers are so high. I’d even expect maybe 40-50% for the average work day spent on activities of no value. But 80% is insane! That’s a savage waste of time!
[Theresa] I know! I think back to a time when I worked a crazy amount of hours but never felt like I was making progress on anything.
Back then, I was not productive at all. I didn’t have any understanding of what it meant to actually be productive. I thought that being busy all of the time was what I was supposed to be doing in my business. Busy meant progress and busy meant productive. I was wrong.
Setting the Wrong Priorities Has Consequences
[Meghan] You’re definitely not alone there. There were many times in my business when I set the wrong priorities. I worked really hard and was extremely busy. Yet, somehow I wasn’t getting important things done. I was making practically no progress for the hours I was putting in.
[Theresa] Exactly! Every day I’d run myself ragged with busy work. I’d exhaust myself trying to run through a huge list of random tasks. This was the story day after day. Then, I’d get to the end of the month only to discover that I was right back where I started.
It was really frustrating.
[Meghan] That is frustrating. I’ve had that happen many times too. You get to the end of a long work day only to find that you got almost nothing over the finish line. Right?
[Theresa] Absolutely. Remember, I was working about 16 hours a day at one point, and I still wasn’t making any real progress. It was ridiculous. I knew I was busy all day long, but I couldn’t tell what was taking so much time.
[Meghan] Oh yes, “busy.” I know it well. When you’re busy you feel like you’re getting work done and making progress. But that isn’t always the case.
When you’re doing most of the tasks in your business, it’s really a catch 22, isn’t it? There are really low level, low value tasks that have to get done. However, you also need time to focus on the higher-value work that drives revenue. So, how do you make time for both?
[Theresa] That’s a great question. When you’re running a business solo like we do, there are necessary functions in your businesses that need to be done and no one else to do them. That’s true.
You have a finite set of hours to get things done, so you need to streamline your efforts to leverage your time better.
You have a finite set of hours to get things done, so you need to streamline your efforts to leverage your time better.
Yes, you can employ a tactic like time blocking to help you get the most out of the hours you have. However, you still waste so much time.
Where You Waste the Most Time
[Meghan] I know! Wasting time is a big challenge, and I can’t stand wasting time. We have a brief amount of time on this planet, so we shouldn’t waste even one second, you know?
But we do waste time, and distractions are one reason why. Distractions are everywhere and eat up lots of valuable, precious time. We already discussed this a bit in Episode 10 when we shared tips to help you overcome distractions.
[Theresa] Oh yes, distractions consume more time than you realize. This isn’t the only pitfall though. There are two other areas where you misuse your time.
Identify Activities that Have No Value in Your Business
First, you waste time on activities that are unnecessary in your business. Those are the no-value activities I mentioned earlier. I can’t tell you what those are for your particular business, but you can easily identify them. They are usually tasks that don’t add any value or contribute to your revenue. Often, they had a purpose when you first began doing them but don’t any longer. Yet, you keep doing it out of habit.
I have a dear friend who started a Twitter account years ago. This is back when Twitter was still bright and shiny and new. She fell in love with Twitter and began growing her influence, authority and following there. One of her strategies was to thank every single person who mentioned and retweeted her. She did this for years. As her audience there grew, so did the amount of time she spent doing that task. What took a few minutes a day, now took a couple of hours. That was every single day. Seven days a week.
But here’s the thing. That strategy, while important when she was new, became unnecessary. It took time away from more important, revenue-generating things. When she finally chose to let that go, she gained back 14 hours! What would you do with an extra 14 hours, Meghan?
[Meghan] 14 hours! That’s like two days worth of work right there. But I’m not surprised that the task took up so much time since I used that same strategy when I started on Twitter, and it was a massive time suck. I couldn’t keep it up.
Now with an extra 14 hours or two days in my week, I’d work ON my business a little more and I’d likely spend more time with the people I love.
[Theresa] I would expect no less from you, Meghan.
Identify Inefficient Tasks
[Theresa] The second place we waste time is on how long we actually spend doing particular tasks. I’ll be bold here. You’re taking too long to do simple things.
You’re taking too long to do simple things.
Once I worked with a service provider who would spend a quarter of our meetings looking for documents on her computer. I could see the stress it caused her right there on her face. I helped her set up a simple file hierarchy and she saved time, yes. But, she also felt more confident.
Before she organized her documents, she’d worry her clients would ask to see a document that she hadn’t pulled up ahead of time. After, she knew exactly where all of her files were, which gave her confidence that she could find what she needed quickly and easily in front of her clients.
I felt her pain though. Trying to locate a document on my computer was like playing Where’s Waldo. There were even occasions where I recreated documents that I couldn’t find. Talk about a waste of time!
That’s just one example of how something that should be simple devours precious time.
[Meghan] Oh yeah, organizing the files on your computer saves time in a big way. I used to have about 100 files on my Desktop. Um, hello! What a mess! And watching people react to my Desktop when I shared my screen was funny and embarrassing at the same time.
Track Your Time to Leverage Your Time
[Theresa] Oh…embarrassing yes! This morning was on my online networking meeting. I shared my screen and when I unshared, I saw that I’d gotten a private message from another member who asked if I needed help getting control of the tab situation on my browser. Apparently, I had like 20 Canva tabs open because I was working on a project. I blushed a little.
But I digress. To change how you’re spending your time, you have to know how you’re spending it. Make sense?
[Meghan] Total sense. Change starts with awareness. You can fix what you identify. Plain and simple.
[Theresa] Start by tracking. I’ll be honest. This activity is going to take a bit of work, but if you do this in earnest it will reap huge rewards for you.
You track by recording everything you do and noting how long you spend doing it. Some activities you may do multiple times a day, like checking email or social media. Record every time you do those activities.
[Meghan] Time tracking is a total pain in the butt, but it’s really eye-opening! Like I said a minute ago, awareness is important. You may think you look at your social media five times a day.
But, tracking your time may reveal that you’re looking at social media more like 10-15 times a day. If we convert that to overall total time invested in social media distractions, that could be more like 45 minutes and not the five minutes you thought.
[Theresa] Exactly. So, don’t leave anything out. There’s no judgment here. No one sees this information but you. It’s data you need to make necessary changes.
To get a clear picture of how you spend your time, I recommend tracking for a period of 5-7 days. Choose the time period over which you’ll track and use some type of system to do so.
How to Track Your Time
[Meghan] There are lots of ways to track your time. The trick is to make it fun and easy. Then you’re more likely to stick to it.
There are tons of apps you can use to track your time. Some of them are:
- Toggl
- HoursTracker
- Harvest
- Timely
I use two methods for tracking my time. The first is a Google Calendar. I block time for projects and tasks. Then I edit the time blocks after the fact to reflect the actual time I worked on an activity.
If I’m working on a client project, I use the time tracking feature in Teamwork, which is the project management app I use. I like this option because Teamwork tracks each separate time block per project so that I can see the total time spent on any project.
[Theresa] Those are great ideas for setting containers around your time, especially if you’re tracking hours for client work or trying to figure out how long a specific activity actually takes to complete. I want you to be aware of those things, but I also want you to be conscious of every time you’re distracted by email or social media, for example, and for how long. I’ll give a clear example of what I mean in a minute.
Use this activity to not only track the big things but also the small things that you believe don’t take up lots of time. Tracking can reveal different evidence.
However you choose to record your activities is fine. Just record them. If apps are your jam, definitely use one.
You can simply use paper and pen if that’s more your speed. Write down the task and note your start and stop time.
Do this every time you start a new task. And don’t cheat because, no, you won’t remember!
At the end of each day, take a quick inventory of what you did, how many times you did it, and how long it took. For example, you may notice that you checked your email 10 times that day and it took a total of 67 minutes.
It’s important to pay attention to these things because it’s where you identify waste. Once you have that information, you’ll see how you can create a better system for dealing with those tasks. Instead of checking your email every time a notification goes off, leverage your time by turning off your notifications and scheduling three times in your day to check it.
[Meghan] Yes. It’s important to identify areas of waste and look for patterns so that you can batch work. When you do this, you’ll notice that the amount of time certain tasks take will decrease significantly.
You’ll free up time for other things. And who doesn’t want extra time in their day?!
Why You Should Leverage Your Time
[Theresa] If you’re working solo. Time can be your enemy or your greatest ally. You can keep time in the friend zone by learning how to leverage it.
In the past, I was horrible with time. Ironically, I wasted even more of it by worrying about it. I felt overwhelmed, anxious, and out of control.
How about you, Meghan?
[Meghan] It’s odd how critical time management is to success in business and in life. But once you leverage your time, you’ll make more progress in your business and you’ll be less frazzled.
[Theresa] Once I streamlined parts of my business, I saw dramatic changes. I noticed that I —
- Increased my efficiency and the amount of time spent on certain tasks
- Had more free time
- Spent less time on low-value tasks
- Reduced waste, by eliminating unnecessary work
- Felt emotionally lighter
I was generally more productive. This new way of working spilled out of my business and into my personal life, too.
[Meghan] Leveraging your time makes it possible to achieve the greatest results with the least amount of effort. Streamlining your business is an effective way to leverage the time you have to get work done in the most efficient way possible, okay?
There are many things you can streamline in your business. Today we’re sharing 3 tips to help you get started right away.
3 Strategies for Streamlining Your Small Business so You Can Leverage Your Time
#1: Batch and Schedule Social Media Content to Leverage Your Time
[Theresa] Most of you are using social media as part of your marketing strategy. So, you know how much time it takes to curate your content, create graphics and schedule.
Instead of posting to social media whenever you feel like it, whenever you have time, or whenever there’s breaking news, I strongly recommend batching and scheduling your social media posts.
Instead of posting to social media whenever you feel like it, whenever you have time, or whenever there’s breaking news, batch and schedule your social media posts.
First, set aside 1-2 days at the beginning of the month to plan out and create your posts. Not only will it be faster because you’re doing it all at once, but it will also undoubtedly be more cohesive…because you’re able to choose a theme and then really follow it through.
Next, use a social media tool to schedule out your entire month’s content. There are many tools you can use. You can check out
- Hootsuite
- BufferApp
- Tailwind
- Eclincher
- SocialPilot
That’s it! All your social media planning and scheduling are done…so you can focus on other aspects of running your business.
[Meghan] Social media was the biggest time waste in my business for several years! When I look back and think about the time I invested in the results I achieved, I almost want to cry. Total regret.
But, it was a learning opportunity, as they say, yeah? Your advice is absolutely a better, more effective way to manage time spent on social media. So, I hope people pay attention to it.
#2: Create a Filing System to Manage Documents to Leverage Your Time
[Theresa] Papers in every nook and cranny, files scattered across your actual and computer desktop, and emails not in any kind of recognizable order. Does that sound familiar?
If so, you could likely benefit from a document management system. This is simply a system for how you’re going to handle both digital and physical documents. It will likely include everything from:
- Where and how you’ll store/file physical documents like invoices, receipts, letters, tax forms, etc.
- How and when you’ll archive old files
- How you’ll create new documents, like blog posts, invoices, letters, etc. This will usually include creating and using templates for each of these types of docs
- How you’ll keep important files safe and secure Will you encrypt digital files? Password-protect sensitive info?
Create your document management system, implement it, and follow through so that you never have to waste time with documents again.
[Meghan] Okay, so I’m a work in progress on this one. I do have digital and physical filing systems, but I’m not always good about staying on top of filing and organizing. So, sometimes I fall off the wagon and have to get back on. When I look at how organized Theresa is, I’m so jealous! However, I know that Rome wasn’t built in a day and I’ll get there.
#3: Create Systems for Repeatable Tasks to Leverage Your Time
[Theresa] Do you ever feel like you’re wasting time by not using systems and business processes for common, everyday tasks?
Systems can not only increase your efficiency but can definitely make you feel calmer and more in control as you go about your day.
Some tasks I recommend systemizing include:
- Paying bills, bookkeeping, and budgeting
- Creating content for your website and social media
- Hiring new team members
- Sales – Including lead generation, proposals, and delivery
An added benefit of having great systems that are actually written out is that they become training materials once you’re ready to hire.
[Meghan] I love creating systems because I see how much time and hassle I save when I have a system in place. The issue I run into is that I want a system for everything, and sometimes that isn’t possible until I’ve done something multiple times. You know me, I prefer things all neat and perfect straight away and that isn’t how business or life work!
Like you always say, you don’t know what you don’t know. Be patient and go do stuff to figure it out!
[Theresa] Right. Don’t be afraid of doing it messy!
PRO TIP: Use marketing templates to support your recurring tasks and systems. You’ll save so much time and effort!
Final Thought about Leveraging Your Time
[Theresa] Running a business is hard work, but it doesn’t have to be chaotic. The strategies we shared today will not only reduce your stress, improve your efficiency, and save you hours, it will also have you leveraging your time like a pro!
Now it’s your turn. Which of the strategies above are you going to implement? Remember, you only need to begin with one. Let us know by leaving a comment!
Meghan, do you have any final words?
[Meghan] You gave us a lot of practical, actionable insight and tips today Theresa! The only thing I’ll add is that getting better at managing your time takes practice.
Like we say, things are often very messy before they improve. So, be patient and don’t give up because you will get better at this stuff!
