Time: The Most Precious Asset of a Business Owner
As a business owner, I have come to realize that time is the most valuable resource at my disposal. In fact, it’s not just valuable; it’s indispensable. Every minute, every second counts in the realm of entrepreneurship, and how I choose to allocate my time directly impacts the success of my business. Understanding this fundamental truth has transformed my perspective on time management and the role it plays in my journey as a leader.
Being a business owner myself, I have learned that time management is the most valuable skill I possess, and one that I constantly strive to groom. While I may not be able to do everything at once, I firmly believe that there is always a way to adjust my schedule to accommodate the things that truly matter. It’s not a matter of not having time; it’s a matter of setting priorities.
It’s disheartening to hear phrases like “I don’t have time” or “I’m too busy” being casually thrown around by business owners and corporate executives. Such statements reflect a lack of control over one’s own schedule and signify a failure to recognize the significance of time. When we utter these words, we inadvertently convey a message to our teams and colleagues that we are not fully in charge of our own time, let alone capable of managing theirs effectively.
I refuse to be one of those leaders who are perpetually overwhelmed and constantly claim to lack the time to accomplish important tasks. If I don’t account for my own time, then how can I expect the other people in my organization to succeed? It is my responsibility as a business owner to ensure that I am using my time wisely and setting an example for others to follow.
I have come to understand that effective time management is not about fitting more tasks into each day; it’s about making conscious choices and allocating time to the most important activities. It’s about understanding the difference between urgent and important, and focusing on the latter. By consciously prioritizing my time, I can ensure that I am devoting my energy to the tasks that have the greatest impact on my business’s growth and success.
To achieve this, I have embraced various strategies to optimize my time management. I have become diligent in planning my days and weeks, setting clear goals and deadlines for myself. I delegate tasks that can be handled by others, empowering my team and freeing up my own time for higher-level responsibilities. I also guard against distractions, recognizing that time wasted is an opportunity lost.
Moreover, I constantly remind myself of the ripple effect my time management has on my organization. If I fail to allocate time to critical tasks, deadlines may be missed, opportunities may slip away, and my team may falter. As a leader, it is my duty to ensure that my actions inspire and motivate those around me, and that begins with how I manage my time. This is not an idea that I came up with all on my own. I’ve been surrounded by fantastic leaders who embody these principles my whole life.
In 2018, I had the pleasure of working with Daniel Jones, President, CEO, and Chairman of the Board of Encore Wire Corporation. As the leader of a company with 1,700 employees and revenues exceeding $3 BILLION, you can imagine he’s a busy man. However, I’ve never come across anyone in my life who is better at balancing his faith, family, business, community involvement, and strong personal relationships. He makes time to work out, eat healthy, and accelerate growth in his organization.
He told me, “If you want to get your priorities straight, focus on Faith, family, and work, in that order, and you’ll never make a wrong decision.” These are words that I’ve lived by, and they’ve helped me keep my priorities in check. During my time working with Mr. Jones, I was constantly amazed by the things he MADE time for, including 1-on-1 interviews with engineering interns to coach them on the business and answer their questions about life and the new world of corporate America.
So, the next time you hear someone say, “I don’t have time” or “I’m too busy,” remember that these phrases reflect a lack of control over one’s own schedule. As business owners and corporate executives, we owe it to ourselves and our organizations to prioritize time management. Let us rise above the notion of not having time and instead focus on making time for what truly matters. Because in the end, it is our ability to master time that separates the successful leaders from the rest.
Therefore, I invite you to join me in prioritizing time management and exploring ways to enhance efficiency within your organization. Demonstrate to your teams that you care about their success and well-being by seeking out innovative solutions. I encourage you to set up a time to discuss with Ultimus Engineering how we can leverage expertise to streamline your engineering processes and optimize your productivity. Together, we can Create Solutions to Build Better Companies, yours included.
