Some of the most important skills that a future franchise owner can cultivate are effective time and task management. As business owners, franchisees typically juggle many different responsibilities from day to day. Without the ability to manage priorities and competing demands, it will be hard to achieve the kind of productivity that being a franchise owner requires. For this reason, learning some of the basics can help you as a future franchise owner prepare well in advance for those busy times of owning your own business.
Developing good time and task management skills while preparing for franchise ownership can be the difference between maximizing your future earning potential and winding up in the red. If, as they say, time is money for business owners, then wasting time can be incredibly expensive. The U.S. Small Business Administration (SBA) defines time management as “a systematic prioritization of tasks and competing demands to complete the most important tasks within a target timeframe.” Simply put, you need to have a system in place to help you to effectively manage your time and tasks, and you need to start working on it now, not when things get busy.
Start Preparing Now
Some future franchise owners mistakenly believe that the time to start learning good time and task management is after they get their new franchise up and running. In reality, before your new business welcomes your first customer, you will be accountable for numerous tasks and responsibilities that come with business ownership. Chances are, the demands of running a new business may leave you feeling like you don’t have the resources to figure out how to best manage your time. This is why you should start arranging your tools, habits, and schedules to accommodate your new status as a business owner before the need arises.
Task Management Software
One of the best ways to help you manage time is the use of a task management system that allows you to organize tasks and collaborate on those tasks with others. For example, beginning with their on-boarding training, Real Property Management franchisees take advantage of Wrike, a task management program that helps them not only with the launch of their office, but also later on in their day-to-day operations to ensure things don’t slip through the cracks. This is a scalable tool as well, so that as they progress and add team members, keeping track of the large number of tasks and who does what will not be daunting.
Adjust to Franchise Working Hours
You should also adjust your habits so that you are functioning at an optimal mode during your franchise’s working hours. For example, if you are strongly considering buying a franchise that is open Monday to Friday from 8:30 am to 5 pm, then you should start training yourself to get up and manage that same schedule now. Simply waking up at the necessary time each morning can help ease the transition to business owner and give you the energy you need every day to complete the many tasks that await your attention.
Arranging Your Personal Life
In addition to planning ahead for your new schedule, you also need to “train” the people in your life to know your available times as a franchise owner. For example, if you plan to open a franchise that requires that you work Saturdays, start letting people know now that you won’t be available for other activities on Saturdays. Managing the expectations of those around you, and encouraging them to avoid distracting or interrupting you while you are working, can significantly improve your daily productivity. Effective time management isn’t just about what you do with your time, it is also arranging your life to ensure that your productivity is a priority.
By developing effective time and task management, you can not only maximize the number of things you can accomplish every day, but also track your progress toward your larger goals. If one of those goals is to learn more about a Real Property Management franchise, make it a priority and contact us today! We are looking for motivated professionals like you to help us grow our top-rated property management brand.