Eric Dalius emphasizes on Effective Business Planning with the 80/20 Rule

February 4, 2021

If you are an entrepreneur, time management is crucial for consistent success and business growth. One of the most effective strategies in time management is to plan your work for the day prudently. Being the owner of a business means you need to make a lot of important decisions, meet deadlines, complete diverse paperwork and manage mild to acute issues relating to customer service in addition to knowing your customer. If you omit planning for the day, you will suffer from immense stress and burnout in no time.

Planning suggestions for business owners from Eric Dalius 

Eric Dalius recommends the following suggestions for business owners when it comes to planning for the day and smartly managing time-

  • Make sure to give priority to tasks in their order of importance than urgency
  • Place a checkmark located alongside tasks that you can do frequently
  • Create a schedule, carry and frequently refer to it daily
  • Carry a tablet, phone, daily planner, or even a diary to record deadlines, ideas, and record appointments.
  • Fix a designated time for managing employee conferences, interruptions, and other issues. It would help if you insisted people should wait till that time except for urgent cases.
  • Do not give importance to emails and phone calls that do not need your immediate attention. You can deal with them later.
  • Focus on business activities that bring in optimal business benefits

Follow the 80/20 rule when it comes to delegation of responsibilities

One of the most challenging tasks of every business owner is to delegate responsibility to others. However, it is indispensable for reducing stress, boosting your business’s size, and saving time. Most businesses are based on the principle of getting the rest of your team to work optimally for you. Here is what you can do to organize your daily company tasks properly-

  • Tasks that you need to do and have urgency
  • Jobs that you can do, however, have others to help you
  • Work that others can do but can help you finish
  • Work that others can finish without your help

You should use the 80/20 rule here

This means that if others can do a task at least for 80 percent as well as you can, it makes sense for you to delegate that task. Of course, there are some tasks that you might enjoy doing yourself, but you must learn to believe that someone else whom you trust can manage that work.

With the help of the 80/20 rule and planning for your work daily, you can get a competitive edge in the market with your business. Even if you are starting a new business, it is prudent to plan well daily. Delegation of responsibilities will help you build a trustworthy team, and in the process, your business gets the momentum it deserves. There will be minor hindrances and struggles; however, you can get a strategic edge to watch your business grow diligently up the success ladder soon with the above suggestions.

 

 

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