by Scott Holloway

Created on: February 24, 2007   Last Updated: May 21, 2007

In order to efficiently manage your time with a new business you must have a thorough understanding of the resources at your disposal. Take stock in what you have whether it be knowledge based, labor, or capital equipment. Based on goals you have established for your business you must deploy your resources to meet those goals. Since you must be able to control all aspects of your business, you must decide which require your personal involvement and which goals can be accomplished using other resources.

Knowledge based resources can include software which can handle payroll, production scheduling, graphics needs, or a wide array of functions which can eat up a lot of time. These can free you up to perform other activities or can be used by other staff members to increase the efficient use of their time.

The use of additional labor can be used to perform certain functions within your operation. Although this is increasingly a very expensive component of any business, it is often necessary in order to grow a business. A proper training program for all employees will ensure you can manage those parts of your business without constant direct involvement. In recent years outsourcing has been used increasingly to achieve the above-mentioned functions. In some cases this can also save you time and money depending on your business.

The use of equipment to increase capacity and reduce the labor intensive nature of some businesses can be beneficial. This is especially true for small enterprises such as sole proprietors who only make money when they are working. By increasing your capacity, you can get more work done quicker. This allows you to spend more time in areas like marketing, sales, and customer service.

One of the biggest complaints from people today is the lack of customer service. When you are bogged down performing non-essential functions yourself, you are taking valuable time away from being available to your customers and making them feel like a priority. By using all resources available to you to run your business, you will maintain control as well as achieve your future goals. Review your activities on a regular basis to see what you are doing well and what you are failing to accomplish in a timely manner.

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