In this episode of EmpowerBiz: MSME Growth Mindset, we explore the critical importance of time management for MSME entrepreneurs. We discuss how to identify priorities, plan your day with intention, manage interruptions, delegate tasks, and use technology to your advantage. Additionally, we emphasize the importance of balancing work and personal life and regularly reviewing your time management strategies. This episode is packed with practical insights to help you optimize your daily operations and move your business forward efficiently.
If you found value in this episode, please subscribe to our podcast, leave a review, and share it with fellow MSME entrepreneurs. Visit our website https://msmegrowthhub.com for more resources and join our MSME Growth Hub community to continue your journey towards business excellence. Until next time, keep managing your time wisely, stay balanced, and keep growing!
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Speaker 1: Hello and welcome to A P short 10 of EmpowerBiz:MSME Growth Mindset.
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Speaker 1: I amAbanibhusan Bera your host. And today we are going to
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Speaker 1: explore one of the most critical aspects of running a
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Speaker 1: successful business. And that's time management
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Speaker 1: as an MSME entrepreneur. Your time is one of your
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Speaker 1: most valuable resources. How you manage it can make the
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Speaker 1: difference between a business that thrives and one that struggles
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Speaker 1: to stay afloat. In this episode. We will talk about
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Speaker 1: how you can optimize your daily operations through effective time management,
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Speaker 1: ensuring that you maximize productivity without burning out. Let's dive in,
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Speaker 1: you know, time management is often talked about. But how
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Speaker 1: many of us really take the time to understand its
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Speaker 1: impact on your business?
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Speaker 1: It's more than just getting through your two D list.
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Speaker 1: It's about working smarter, not harder, proper time management allows
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Speaker 1: you to focus on what really matters, reduces stress and
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Speaker 1: ultimately leads to better decision making and more strategic planning
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Speaker 1: when you manage your time. Well, you are not just
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Speaker 1: ticking off tasks, you are moving your business forward.
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Speaker 1: The first step to optimize your time is identifying your priorities.
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Speaker 1: It's easy to get caught up in the day to
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Speaker 1: day tasks, but not all tasks are created equal some
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Speaker 1: activities will drive your business forward while others, although necessary,
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Speaker 1: don't directly contribute to your growth. Think about the 8020 rule,
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Speaker 1: also known as the Pareto principle.
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Speaker 1: I have seen it working in every aspect of my life.
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Speaker 1: It suggests that 80% of your results come from 20%
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Speaker 1: of your reports. Your job is to identify that 20%
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Speaker 1: the key activities that will have the most significant impact
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Speaker 1: on your business. For some, this might be sales and
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Speaker 1: customer relationship management for others. It could be product development
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Speaker 1: or marketing.
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Speaker 1: Once you've identified these priorities, you can start structuring your day
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Speaker 1: around them.
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Speaker 1: Let's talk about planning. It might sound basic but a
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Speaker 1: well planned day is the cornerstone of effective time management.
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Speaker 1: Start your day with a clear plan. Personally, I find
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Speaker 1: it helpful to plan my day the night before that way,
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Speaker 1: I wake up knowing exactly what I need to accomplish.
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Speaker 1: Use a planner with a digital or paper and break
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Speaker 1: your day into time blocks.
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Speaker 1: Each block should be dedicated to a specific task or
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Speaker 1: group of tasks. The key here is to be realistic
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Speaker 1: about what you can achieve in a day. Overloading your
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Speaker 1: schedule can lead to burnout and stress which are counterproductive.
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Speaker 1: Another tip is to tackle the most challenging tasks. First,
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Speaker 1: this is often referred to as eating the frog a
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Speaker 1: concept popularized by Brian Tracy. The idea is to do
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Speaker 1: the most difficult or least enjoyable task first. So the
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Speaker 1: rest of your day feels easier by comparison,
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Speaker 1: not only does this boost your productivity, but it also
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Speaker 1: gives you a sense of accomplishment early in the day,
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Speaker 1: which can set a positive tone for the rest of
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Speaker 1: your activities,
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Speaker 1: managing interruptions and staying focused. This is the next principle
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Speaker 1: interruptions are a natural part of any working day, especially
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Speaker 1: when you are running a business, whether it's an unexpected
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Speaker 1: phone call, an urgent email or a team member needing assistance.
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Speaker 1: These interruptions can throw off your schedule if not managed carefully.
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Speaker 1: One effective strategy is to set specific times for checking
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Speaker 1: emails and returning phone calls rather than allowing these tasks to
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Speaker 1: dictate your day. For example, you might decide to check
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Speaker 1: your emails first thing in the morning after lunch and
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Speaker 1: before the end of the day, the rest of the time,
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Speaker 1: keep your inbox closed to avoid the temptation to check
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Speaker 1: it constantly.
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Speaker 1: Another tactic is to create a physical or mental, do
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Speaker 1: not disturb. Sign during your most productive hours.
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Speaker 1: Let your team know when you are in a focused
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Speaker 1: work session and would prefer not to be interrupted unless absolutely necessary.
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Speaker 1: Of course, this works both ways. Make sure to respect others,
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Speaker 1: focus time as well
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Speaker 1: as a business owner. It's tempting to try and do everything yourself.
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Speaker 1: But this approach is not sustainable. Delegation is key to
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Speaker 1: effective time management. Identify tasks that can be handled by
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Speaker 1: someone else, whether it's administrative or social media management or
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Speaker 1: even customer service. Delegating these tasks frees up your time
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Speaker 1: to focus on high level activities that drive your business forward.
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Speaker 1: But delegation is not just about offloading tasks. It's about
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Speaker 1: trusting your team and empowering them to take ownership of
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Speaker 1: their work. Clear, communication is vital here, make sure that
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Speaker 1: the person you are delegating to understands the tasks has
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Speaker 1: the necessary resources and knows when the task is expected
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Speaker 1: to be completed.
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Speaker 1: Outsourcing can also be a great option for tasks that
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Speaker 1: require specific expertise such as accounting, marketing variety support. The
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Speaker 1: key is to find reliable partners who understand your business
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Speaker 1: and can deliver quality work on time
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Speaker 1: in today's digital age. there's an app or a tool for
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Speaker 1: almost everything and time management is no exception.
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Speaker 1: There are countless productivity tools available that can help streamline
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Speaker 1: your operations from project management, software to time tracking apps,
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Speaker 1: tools like Trello Asana or monday.com can help you manage
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Speaker 1: projects and collaborate with your team more efficiently. They allow
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Speaker 1: you to track progress, set deadlines and ensure everyone is
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Speaker 1: on the same page. For personal time management
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Speaker 1: apps like todoist, Evernote or Google calendar can help you stay
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Speaker 1: organized and ensure nothing slips through the cracks. But remember,
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Speaker 1: the key is not to overload yourself with too many tools,
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Speaker 1: choose the ones that best fit your needs and stick with them.
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Speaker 1: The goal is to make your life easier, not more complicated.
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Speaker 1: We can't talk about time management without addressing the importance
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Speaker 1: of work life balance. As an entrepreneur, it's easy to
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Speaker 1: let work consume your life. But this can lead to
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Speaker 1: burnout and negatively affect your productivity in the long run.
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Speaker 1: Make sure to set boundaries between work and personal time.
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Speaker 1: This could mean setting a strict end time for your work day,
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Speaker 1: not checking email, an hour or scheduling regular breaks throughout
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Speaker 1: the day, taking care of your physical and mental health
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Speaker 1: is also crucial. Regular exercise, a healthy diet and sufficient
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Speaker 1: sleep can all contribute to better time management
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Speaker 1: by keeping you energized and focused and don't forget to
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Speaker 1: make time for hobbies and activities that bring you joy
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Speaker 1: outside of work. This not only helps recharge your batteries
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Speaker 1: but also stimulates creativity and problem solving skills. Finally,
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Speaker 1: it's important to regularly review and reflect on your time management
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Speaker 1: practices at the end of each week, take a few
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Speaker 1: minutes to reflect on what worked well and where you might
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Speaker 1: need to make adjustments. Did you accomplish your goals for
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Speaker 1: the week? Were there any recurring interruptions or challenges that
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Speaker 1: need addressing?
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Speaker 1: Reflection helps you to continuously improve your time management strategies
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Speaker 1: and ensures that you are always moving closer to your
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Speaker 1: business and personal goals. It's also an opportunity to celebrate
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Speaker 1: your successes, no matter how small they may seem.
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Speaker 1: Thank you for joining me today on this journey through
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Speaker 1: time management. Optimizing your daily operations is not just about
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Speaker 1: squeezing more tasks into your day. It's about prioritizing what matters,
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Speaker 1: planning with intention, managing interruptions, delegating effectively and using technology wisely.
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Speaker 1: Remember to balance your work with your personal life and
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Speaker 1: to regularly review your strategies to keep improving.
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Speaker 1: If you found value in this episode, please subscribe to
00:09:43
Speaker 1: our podcast. Leave a review and share it with fellow
00:09:47
Speaker 1: MSME entrepreneurs. Visit our website MSMEgrowthhub.com for more resources and
00:09:55
Speaker 1: join our MSME growth hub community to continue your journey
00:10:00
Speaker 1: towards business excellence. Until next time, keep managing your time wisely,
00:10:05
Speaker 1: stay balanced and keep growing.