Home Business Time Management Strategies

It's tempting to sleep late or spend extra time reading the newspaper when you work from home. But since you're your own boss, you need to get started promptly and keep working on a regular schedule. Here are several suggestions:

* Take action. Sit down at your desk, make up or review a "to do" list, and then begin with the most interesting task on the list.

* Set a deadline for yourself to complete a given project by a certain time.

* Bribe yourself by promising a reward if you accomplish a specific task.

Once you get started, your work can develop a momentum that keeps you going all day. We've also found, however, that taking a break every few hours contributes to an increase in productivity and creativity.

Set Specific Boundaries
Even the most carefully constructed plans are vulnerable to interruptions and distractions. The most common ones you are likely to encounter fall into these three categories:

* Household responsibilities. Don't let errands and household activities become a regular part of your workday. Cultivate the attitude that even though you are physically at home, you are mentally at work.

* Family and friends. Talking to your spouse, children or friends can potentially consume much of your time. Instead, work out a clear plan with your loved ones and get their support. Let them know when you will be working so they will avoid disturbing your concentration.

* Losing focus. Don't interrupt yourself with office minutia or extraneous phone calls. Set up your environment to help you stay focused on the job at hand. Put temptation out of sight as much as possible.

If disruptions continue to be the bane of your workday, consider relocating your office to a different area of the house or changing your office hours, perhaps working after the children are asleep or early in the morning before other activities have started.

Make Time for Your Private Life
As your own boss, it's also easy to become a workaholic and inadvertently neglect your personal life, family and fun. Follow these recommendations to avoid burnout and depression from undertaking too much work:

* Set up a firm schedule. Establish a fixed stopping point every day and do not compromise on this except for emergencies. If needed, develop a closing ritual such as a walk around the block or taking a class to make sure you get out of the office at a set time.

* Protect your free time. Make sure clients know your work hours, and do not take calls or allow business visitors to "drop by" at any hour.

* Establish minibreaks. Set aside five to 15 minutes a day to "do nothing." Spend that time doing something you enjoy such as gardening, playing with a pet, or sitting in the sun.

If you tend to overwork, it is crucial to develop new values that support a healthier and more balanced, productive and secure life. Never underestimate the therapeutic effects of relaxing on a regular basis.

Use Technology to Streamline Your Operations
Home-office technology can streamline many of your most time-consuming administrative tasks -- and save you money. Here are a few examples:

* Use the templates that come with your word processor for standardized documents such as fax cover sheets and invoices.

* Learn to rely on the spell checker, grammar checker, dictionary and electronic thesaurus features that are part of many software packages to enhance the accuracy and quality of your business documents.

* Scan names, addresses and phone numbers directly from business cards into your computer using a card scanner.

* Use special preprinted papers from companies like Paper Direct (800/APAPERS) and Queblo (800/523-9080) to produce attractive customized flyers, business cards, presentation folders, brochures and newsletters quickly.

In addition, many kinds of technologically-advanced equipment are available that enable you to speed up daily tasks. These include programmable telephones, high-speed printers, electronic postage scales, electric staplers, letter-opening machines, letter folders and dictation equipment.

Whether you manage a factory, wholesale outlet, retail store, Service shop, or are a builder, you will need to sell. However good
your product is, regardless of what customers think of this, you must sell to survive.

Direct selling approaches are through private sales efforts, Advertising and, for many companies, exhibit - including the styling
and packaging of the item itself - in windows, at the establishment, or both. Establishing a good reputation with the general
public through courtesy and special services is a direct process of selling. While the latter shouldn't be neglected, this short
discussion will be restricted to direct selling methods.

To establish Your Company on a firm footing requires a great deal Of competitive personal selling. You may have established
competition to conquer. Or, if your idea is new with little if any competition, you've got the additional problem of convincing
people of the value of the new idea. Personal selling work is almost always necessary to achieve this. If you aren't a fantastic
salesperson, seek an employee or asociate who is.

Another way to create sales is by marketing. This may be achieved Through papers, shopping newspapers, the yellow pages section of
the telephone directory, along with other published periodicals; radio and tv; handbills, and direct mail. The media you choose,
in addition to the message and kind of presentation, depends upon the particular customers you wish to reach. Plan and prepare
advertisements carefully, or it will be unsuccessful. Most media are going to have the ability to describe the features of their
audience (readers, listeners, etc.). Since your first planning described the characteristics of your potential customers, you need
to match these features with the media audience. If you're selling expensive jewelry, don't advertise in high school newspapers.
Should you repair bicycles, you probably should.

Advertising can be very costly. It Is a Good Idea to place a limitation upon An amount to spend, then remain within that
limitation. To help you in deciding how much to invest, study the operating ratios of similar businesses. Media advertising
salespeople will allow you to plan and also prepare ads for you. Make sure you tell them your budget limits.

A third method of sparking sales is successful displays both in Your place of company and outside it. If you've had no prior
experience in display function, you will want to examine the topic or turn the task over to someone else. Watch displays of other
companies and read books, trade publications, and the literature provided by equipment manufacturers. It may be wise to hire a
screen expert on your opening screen and special occasions, or you may get the services of one on a part time foundation. Much is
dependent on your type of business and what it takes.

The appropriate number and types of marketing campaign to utilize vary from business to business and from owner to owner. Some
businesses prosper with low-key revenue efforts. Others, like the used-car lots, flourish on aggressive, hoop-la promotions. In
any event, the significance of successful selling can't be over-emphasized.

On the other hand, don't Eliminate sight of your Key goal - to Make a profit. Anyone can produce a large sales volume selling
dollar bills for ninety bucks. But that won't last long. Keep control of your costs, and price your product carefully.

Record Keeping. 1 essential element of business management is the keeping of adequate records. Study after study shows that many
manager failures can be attributed to insufficient records or the owner's failure to make use of what information was available to
him. Without records, the businessperson can't see in advance that way the business is going. Up-to-date records may forecast
impending tragedy, forewarning one to take steps to prevent it. While additional work must maintain a decent set of records, you
will be more than paid for the effort and cost.

If You Aren't prepared to keep adequate records - or have somebody Keep them for you - you shouldn't try to run a small business.
At a minimum, records are needed to substantiate:

1. Your returns under taxation laws, including income tax and social Safety laws;

2. Your request for credit from equipment manufacturers or even a loan From a bank;

3. Your claims about the company, in case you wish to market it.

However, most important, you want them to run Your Company successfully And to raise your profits. Having a decent. Yet simple,
accounting system you may answer these queries as:

How much business am I doing? What are my expenses? Which appear to be too large? What is my gross Profit margin? My net profit?
How much am I piling in my charge business? What is the condition of my operating capital? How much money do I have available? How
much in the bank? Just how much do I owe my Suppliers? What is my net worth? That is, what is the worth of my ownership of The
enterprise? What are the trends in my Receipts, expenses, gains, and net value? Is my financial situation improving Or growing
worse? How can my assets compare with what I owe? What's the Percentage of return on my investment? How many cents out of every
dollar of Sales are net profit? Answer these and other questions by preparing and studying balance sheets and profit-and-loss
statements. To do this, it's Important to record information regarding trades as they occur. Maintain This data in a detailed and
organized fashion and you will be able to answer the above questions. You will also possess the answers to such other vital
questions About your company as: What products or services do my clients enjoy best? Next best? Not at all? Can I take the
merchandise most often asked? Am I Qualified to render the services they need most? How a Lot of my charge Clients are slow
payers? Shall I change to money only, or use a charge card Bill program?

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