The importance of time management

"Time waits for no man." Indeed. It is one of life's great truisms. Productivity and work-life balance are both dependent on our ability to develop a system of managing our schedule and our time. Studies have shown that those of us that master the management of time, lead richer and more fulfilling lives.

Early in my career I worked in a professional CA firm where some of us wore our cumulative overtime hours like a "badge of honour". There was no overtime pay, no benefits, just the prospect of passing the final exams and getting our CA designation. What were we thinking?! From my understanding things have not really changed all that much, and many of my colleagues in the legal profession have had similar experiences. I carried that so-called work ethic into many of my subsequent career moves. It affected my personal and professional life in so many ways, and many of them were not positive.

Most of us are not as effective as we think we are when working long hours especially if we do so on a regular basis. It is a known fact that fatigue impedes our judgement, affects our productivity, and most importantly impacts our stress level and our health.

You've probably heard the famous quote: "No one ever laid upon their death bed and wished they'd spent more time at the office." It is just as important for the success of your business as it is for the quality of your life, that you master the art and discipline of time management. You will be amazed at how much more productive and effective you will become. The benefits of spending more time with your family and pursuing other interests are well known to improve ones health, energy, focus, and overall sense of well being.

The Seemingly Elusive Work-Life Balance

As you're reading this you may be thinking, "That sounds nice, but the business cannot survive without me. I am wearing too many hats!" If you feel that way, you are not alone. It is the bane of every startup business. However, it should not, and must not become a way of life. Ask yourself this: "What would happen to my business if for some reason I was no longer able to work?" Would the business fail? Would your family be without a bread-winner? Would your employees lose their jobs? If you answered yes to any or all of those, then you owe it to yourself, your family and your business to master the art and discipline of time management.

The Art and Discipline of Time Management

What are the steps to getting there? Firstly, it's important to take a close look at how you actually spend your time starting with how you spend time in your business. Do you delegate effectively? Do you have confidence in your staff? Do you have systems and procedures in place that will enable you to confidently delegate and monitor performance? The answers to these questions are an indication of the some of the issues that are causing you to be "trapped" on the hamster treadmill that makes the Work-Life-Balance so elusive. What does your organization chart look like today? What should it look like in order to give you the freedom to enjoy life more?

I encourage to carefully consider your answers to the above questions, and to determine what needs to change in your business organization in order for you to achieve work-life balance. It will have the added benefit of protecting your biggest investment -- your business.

If you need help or would like to speak with one of our advisors on Work-Life Balance and the Art and Discipline of Time Management, please contact us, or book a complimentary 1 hour advisory session with one of our advisors.

Debra Farquharson is the CEO and founder of The Turnaround Team Inc.