Time Management for Internet Entrepreneurs


In any business, time is precious. But in the online environment, where new developments occur rapidly, time is an especially critical resource. Many blogs and websites include useful suggestions about time management systems. Now I’d like to share some of my own approaches to handling time.

I’m arranging my discussion on time around several recurring problems from my own work. Each problem - with its solution - is listed below.

I just can’t seem to complete those really important projects.
It is frustrating to see an important new project or venture stalled because you always seem to “lose” time. For me, the current problem is finding time to complete the eBook I will release  released in July. For you, it might be setting up that new website or blog. Just making something happen.

I became keenly aware of *priority* after reading a post at Steve Pavlina’s blog about managing time. Pavlina has one approach he calls the 50-30-20 rule. It’s simple: spend 50% of your time on tasks of high importance, 30% on those of moderate importance, and the remaining 20% on the least important stuff. (Read Steve’s full description of the system for more details.) The key with this system is deciding just what is important and why it’s important.

As a test, you might even sit down today and figure out just how much time you’re spending on things that really matter (and ask yourself, “What does matter?”). I’m sure you’ll be surprised to learn where much of your time goes, which leads me right into the next problem…

I waste time checking email, refreshing stats pages, and surfing the web.
I do these things so much the behavior is borderline compulsive. Just this weekend, I decided to make a conscious effort to eliminate pointless tasks that eat up little chunks of my time here and there. All of those minutes add up - according to my current calculations - to something like 20-30 hours per month. That’s almost a full work week. Think of how much more time I could spend finishing that business plan I’m procrastinating!

To remedy this one, I’ve made a few new guidelines to become more conscious of the time. I allot about an hour for general housekeeping activities as follows:

*15 minutes checking and responding to email *once* per day. That’s it.
*15 minutes checking stats and other sites.
*15 - 30 minutes exploring the web for new ideas and inspiration.

During each of these sessions, I use a timer to stay focused and keep my eyes off the clock.

For all “work,” I now only use my Firefox browser. For personal surfing, I use Safari. Creating this division on my iBook helped create a mental division that reminds me, “Hey! It’s time to work.”

The web environment is such a non-linear world, it’s easy to get side-tracked from your original purpose. These guidelines help me focus on one thing at a time by creating a specific time when I’m allowed to wander aimlessly - sometimes a useful thing for internet business owners.

I have so many new ideas, I don’t know where to begin.
It’s true: there are so many possibilities for business development. One sometimes doesn’t know where to begin. What an exciting reality! Perhaps… But it’s also an overwhelming thing to consider. With so many *new* ideas surfacing everyday, one can hardly get a footing before itching to move along.

I address this problem by keeping a list at my computer at all times. The list is titled “Great Ideas (That Can Wait).” It provides a ready space for jotting down quick notes about a new business idea or affiliate program, while reminding me that I don’t have time for everything. Later, when I’m not feeling quite as swept up, I can reconsider the project if time becomes available.

I have so much work, I don’t know how to stop.
Instead of holding off on new ideas and focusing on one or two at a time, it is tempting to believe that you need to do everything NOW. Hard work does pay off, but work should not be everything, even for entrepreneurs (especially for entrepreneurs!).

Often, I push myself to work so hard that life becomes secondary. Of course, that approach really defeats the purpose. Why work so hard if you cannot enjoy life too? It’s a cliche point but it never hurts to be reminded. Every day I take a moment to remember why I wanted to become an entrepreneur in the first place. For me, this path is about creating more independence and freedom in life - creating opportunities to make my own decisions about time, money, and lifestyle.

While I find it useful to create work-achievement goals, I also work to make life-achievement goals. In order to pursue those goals, I want to create more time for myself - time I consider essential to my life today and 10 years from now.

Getting more time means using more of it where it matters most.

Now, I’d love to hear about your time management approaches.

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