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Time Is a Resource, Here’s How You Should Manage It

When it comes to the concept of corporate resources, the majority of people think about money (especially cash flow), supplies and similar assets. What they often forget about is time, which is a crucial and finite resource. You only have so many hours every day (and so many effective work hours), which means that you need to be incredibly careful about what you do with it. Time until the next deadline is usually quite short as well, meaning that you need to be extra careful with your every move. Here’s what you need to know about managing time as a resource.

1.      Watch what your team is doing

Just because your team is supposed to be doing something doesn’t mean they are. This is the so-called corporate time theft and it is a serious offense. Remember, if time is resource, then wasting it, while you’re supposed to be working, is theft. From the legal standpoint, you can’t treat it as such but, then again, it causes your company to be at a loss nevertheless. One way to fight this problem is to supervise what your team is doing via an employee monitoring software. This way, you’ll see if one of your employees is watching YouTube videos when they’re supposed to be working or using Skype to chat with their friends/SO.

2.      Outsource

Using your time effectively is just as important as how much time you have. You see, half an hour doesn’t always have the same worth. If you have a task that you can complete in 20 minutes, then it’s more than enough. If you need one hour to complete it, on the other hand, this is a problem. Instead of looking for a way to find more time (which is often next-to-impossible), why not find someone who can do this more quickly and outsource your task to them. This way, you get to increase the efficiency of your business and get a chance to focus on those tasks that only you can do.

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3.      Invest in quality equipment

Quality equipment saves time by causing less latency and delays due to technical issues. This is especially important when buying/hiring equipment that is used by more than one person. Corporate smartphones and laptops are personal equipment that affects the performance of individuals in your employ. Office printers, on the other hand, are used by the entire office floor. This is why going for printing devices like OKI Pro printers may help you get the maximum efficiency (even cost-efficiency).

4.      Dual-devices

The next thing you need to understand is the fact that using your personal phone and laptop acts as a major distraction. Sure, you may be determined not to use this device for personal purposes but notifications that will start arriving at any moment may turn out to be too much of a distraction. Therefore, you might want to invest in dual-devices. Therefore, you’ll use one laptop, phone or tablet for work, while using others for your personal affairs. This may seem as too excessive to some but those who have tried it believe that it’s more than worth it.

5.      Take a break and encourage your team to do so

Earlier on, when we talked about the finiteness of time, we used the phrase effective work hours. The use of the word “effective” was deliberate, due to the fact that you might be exhausted over time. When trying to save time, it may seem counter-intuitive to go on a lengthy break. Nonetheless, if you decide to stay, the time you spend working will be less effective. Therefore, either adopt interval working method like Pomodoro or just use regular breaks.

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Conclusion

In other words, it’s not just about how much time you’ve got but what you do with it that counts, which isn’t unlike managing any other resource, for that matter. With these five simple tricks up your sleeve, you’ll be able to outperform even some of your much bigger competitors by using only those resources that you already have available. Truly a win-win scenario.

Dan Radak is a marketing professional with eleven years of experience. He is a coauthor on several websites and regular contributor to BizzMark Blog. Currently, he is working with a number of companies in the field of digital marketing, closely collaborating with a couple of e-commerce companies.

About author

Dan Radak is a marketing professional with eleven years of experience. He is a coauthor on several websites and regular contributor to BizzMark Blog. Currently, he is working with a number of companies in the field of digital marketing, closely collaborating with a couple of e-commerce companies.
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