1. Identify Your CompetitorsYou are probably aware of most of yourcompetitors. But you may not know allof them. Best way to identify them is,go to Google and other search engines,Facebook, and YouTube and search foryour type of business. Make a list ofthe top five companies that show upand write down their domain names.

Note where your top competitors showup in the search listings and analyse thedescriptions that show up in the searchresults. Those descriptions may giveyou an indication of who their targetmarket is or what the search enginesthink is important about their pages.

Top Tip: Search using Incognito modein Chrome or InPrivate mode on otherbrowsers. This will help prevent thesearch engines from guessing at whatthey think you want to see based onyour previous searches.

If you are a local business, do somesearches that include your town/cityname, county or other geographicalinformation followed by the product orservice you sell. If your competitorsshow up in search results for those

terms, but your company doesn’t, take aclose look at the pages the searchengines link to on your competitor’swebsites.

Look at what the focus of the page is,and what words are used on the page,whether their name, phone number, andaddress are on the page, and what thepercentage of text to images is. Thencompare the results to your ownwebsite. If the company is usingYouTube, look at their videos to seewhat they are promoting and who theirtarget market appears to be. Whatinformation or products do thecompetitors feature on their website?

Do they have a blog? How do theydisplay what they sell? Are theyrunning special promotions? Do theyhave testimonials or case studies orvideos on the site? What are theheadlines they use on each of theirpages? Are their sites easy to navigate?How do what they are promoting andhow their site looks compare to yours?Does their name, address and phonenumber appear on every page? Do theyhave an email signup form in aprominent position on their site?

What you’re looking for here are anycommon factors (i.e., inclusion ofgeographic location, keywords, types ofproducts featured, guarantees, leadcapture forms, social media links, etc.)that your top competitors are includingon their sites that are missing from yoursite, or possibly from your productofferings.

2. Search for Specific Products and KeywordsChances are, your type of business maysell more than one product or service,and those products and services mightbe called different things by differentcustomers. To catch some of thevariations and see which yourcompetitors are getting found, forsearch for individual products or theservices you sell, and see whatcompanies show up on the first page ofsearch results. Then, repeat the searchusing variations of the product orservice name. For instance, if you dolawn care, search for lawn maintenance,grass cutting, and landscaping inaddition to lawn care. List thecompanies that show up in each search.

Main Story - Pages 1 & 2 - Competitor Analysis Tips for Small Business - Page 3 - The ‘how-to’ of business strategies, Tips for boosting creativity in

business - Page 4 - Starting up - What to Expect, What type of business best suits you? - Page 5 - Are you up to date with your GDPR?, Warning:

Bogus phone calls - Page 6 - Starting your own business!! - 3 Key Tasks That Small Businesses Can Outsource Easily - Page 7 - Top 5 tips for

introverts to network successfully - Page 8 - Time Management Tips

Competitor Analysis Tips for Small Business!

Q2Newsletter

2019

3. Follow Competitors on Social MediaFind out about new products yourcompetitor has in the works and whenthey'll release them by keeping track oftheir Twitter feed, Facebook, LinkedIn,Instagram and Pinterest pages. If youknow who some of the employees are,see if those employees have profilesand pages on any of the socialnetworks and follow those, too.

4. Sign Up for Your Competitors Email ListsWhen a company is introducing a newproduct, planning a sale or an event,promoting their communityinvolvement, or just looking for repeatbusiness, they email their customersand subscribers. If you’re on the emaillist, you’ll have that competitiveinformation delivered right to yourinbox.

5. Collect and Analyse Their SalesLiterature & Analyse YourCompetitors AdsTake a look at the kind of salesliterature your competitors hand out.What kind of information is on theirflyers? Do they promote any oneproduct more than others? Is thematerial professionally designed? Howdoes it compare to your own?

Depending on what type of businessyou run, there are any number of placesyour competitors may be advertising. Ifthe competitors have been around for awhile, keeping an eye on what they’readvertising and where they areadvertising can give you importantclues about what’s selling and what’sworking to attract customers. Places tomonitor will depend on your line ofwork but may include online search ads,local newspaper advertisements, localsponsorships, and social mediaadvertising.

6. Search Specific Competitors byName Online & Set Google AlertsUse Google, YouTube, Facebook, etc tosearch for the names of specificcompanies you want to know about.Add terms like ‘reviews,’ ‘news,’ ‘pressrelease,’ or other terms that might giveyou public information that would beuseful to you.

Find out when there is new informationon the web about competingbusinesses, their employees or theirproducts by setting a Google Alert foreach. The alerts will make you aware ofpress releases, mentions, and newwebsites that have been found relatedto the alert terms you set up.

Top Tip: To keep your email box fromoverflowing with alerts, be sure to readand follow the instructions and the tipsin the links on the right side of theGoogle Alerts page.

7. Attend Trade ShowsListening to presentations made byyour competitors and talking to otherattendees and suppliers at trade showscan help you pick up information youwouldn't get elsewhere. This can be ahit or miss strategy, so save it for tradeshows that are local and inexpensive toattend, or that you plan to attendanyway.

8. Talk to Suppliers and CustomersA little networking with suppliers andcustomers can bring you a gold mine ofinformation if you're tactful and haveestablished a good rapport with them.The key is to be a little chatty butfriendly. When you're talking withsuppliers, see if they can give yousuggestions about how othercompanies who buy from them arepromoting products, or which products

they’re selling a lot of. If a customercalls and mentions a competitor, askwhat they think about the competitor.Have they ever bought from them?Were they satisfied? How does thecustomer think the competitorscompare to you?

9. Join Local Business NetworksIf your business is local, joining one orseveral local business networks andattending their meetings regularly canhelp keep you on top of localcompetitors and new competitorscoming into your neighborhood. Theselocal business groups are your eyes andears to any community. By becoming aregular attendee and a friendlynetworker, you may hear about newbusinesses moving into the area, or getreferrals, things that will give youcompetitive and strategic information tohelp your business survive and thrive.

Put your research to Work aftergathering intelligence about yourcompetitors, go over the data you’vegathered to see if it suggest changesyou should make in your own website,operations, or product offerings. Listthe changes and prioritise them.

- PAGE TWO -

Strategy types - It’simportant to realise thatthere are different types ofstrategies and differentprocesses for strategydevelopment which areadopted by different typesof businesses, large andsmall.

Here are a few definitions:

• Planned: strategies that are formulated centrally

• Imposed: strategies either dictated by a parent company, or by economicor other circumstances.

• Opportunistic: deliberate strategies to respond to opportunities as they arise

• Entrepreneurial: strategies that are driven by an entrepreneur which may not be written down, but may be understood by those around them.

• Emergent: strategies that evolve in an unplanned and sometimes unintentional way

• Realised: strategies which are the outcome of combining planned and emergent strategies. Strategy formulation is an inexact science.

Everyone is on a continuous learning curve.

• Strategy process: The process of developing a strategy involves stepping back from day-to-day operations to answer some big picture questions about what a business stands for, as well as its purpose. You should define the following terms:

• Vision: What is the future direction ofthe business?

• Mission: What business are you in? How does the business create value for customers, shareholders, staff and other audiences?

• Values: What does your business believe in and stand for?Strategic analysis is necessary to get to understand where the business is, where it is going and how it can make forecasts. That analysis may be based on reviewing and interpreting both internal and external data, and market trends.

Such analysis is an essential part of thenext stage of the process, which isabout defining the strategic direction ofthe company. This includes:• Agreeing on a broad direction

for the business• Setting objectives, which should be aligned to the business’s vision

• Reviewing various options and making decisions

• Strategic implementationThis is the process whereby the strategy gets turned into an operational plan or a series of plans with clear objectives and actions to be pursued by a business. A clear vision should make sense to everybody. It should allow for objectives and Key Performance Indicators (KPIs) to be set. A mission statement needs to grab the attention and interest of your employees and customers.

• Values are very important. They set the tone for how people behave and how your business is perceived, both internally and externally. Values underpin many successful businessesand dictate how a range of activities are pursued, from dealing with customers, to entering new markets and even recruitment.

- PAGE THREE -

The ‘how-to’ of business strategies

What’s the best way togenerate original andprofitable new ideasfor your business?Here are 5 tips for Irishbusinesses to boostcreativity in theworkplace:

1. Record ideas“Get into the habit of coming up withnew ideas and keeping a book ofthem”. “You don’t have to implement allthe ideas but doing this every day islike exercising your brain to be morecreative.”

2. Absorb ideas“Follow brands that are outside yourindustry for inspiration”. “There are lotsof brands that are doing great thingsthat will spark ideas for your ownbusiness.

3. Throw in an element of critical thinking“Ask yourself: why would people careabout this?”. “What would make peoplewant to get involved with your idea andwhy would they invest their time andenergy in it? It’s easy to fall into a trapof doing things you think will be goodfor business, but unless people careabout or want what you are creatingthen it’s never going to be successful.”

4. Mix it up“Invite staff to leave their comfort zone– for example, invite those that arereally focused online to swap placesand do the face-to-face work offline –they might have skills they never knewabout,”. “For example, invite staff inother departments to brainstorm withthe marketing department: creativeminds are not department specific, andyour marketers may welcome thesupport.”

Tips for boosting creativity in business

If you are thinking aboutstarting a business or havejust started one, there isno secret that the pathahead will be a difficultone, so expect theunexpected.

Every single startup takes a differentpath that results in either sustainedsuccess or an untimely demise. Astartup's greatest strength is its agility,so stay open to new opportunities androutes for growth.

Traditional financingYour first investors will be people whobelieve in your brand/product/serviceand also believe in you. From a basicidea to a business's ascent toprolonged success, there are roughlyfour traditional equity financing steps a

startup can take. Funding usually comesfrom friends and family, investors,government business grant aid,business loans.

Internal challengesWhile financing is an important externalchallenge to deal with, the internalhierarchy of a startup can also pave thepath to success. One of the biggestchallenges startups face as they scale isbalancing internal structure andorganisation with its demands. Ascompanies grow and add members totheir teams, natural complicationsemerge. Focusing on culture andanalysing and simplifying processes canhelp a startup avoid what he'sformulated as the capability gapIt's important for businesses to buildhierarchical internal structures as theygrow. This framework will make it easierto hire people, take on more projects

and organise the company. While it maynot be ideal for every company toestablish some form of internalbureaucracy, it is important to entertainthis idea.

The bottom lineThere is no traditional and set path forstartup growth. What makes startups soexciting and unique is the ability tochange direction or paths on a whim.Keeping the internal processes in mindand trying to simplify things can keepstartups on track.

The aim is to strike the right balancetoward growth, financially and growthwise. As a business grows, however, it'salso crucial for the founder’s totransition the company's reputationaway from themselves and startbuilding the reputation of yourcompany as one so it stands on its own.

Starting up - What to Expect

- PAGE FOUR -

What type of business best suits you?You know you want to set upyour own business, but youare not sure about thebusiness structure that wouldbe best suited for it?A business can be either a professionor a trade which supplies goods,services or both. Your personalcircumstances will be a deciding factoras to whether you operate the businessas either a sole trader, a partnership ora company. Here is a brief descriptionof each term, to help you distinguishthe best one for you.

Sole TraderIf you are a sole trader all businessdecisions are made by you. You will nothave any partners in your business, butyou may have employees. You areresponsible for keeping records of yourbusiness. To set up a business as a soletrader you must register as a selfemployed person with Revenue if yournet income is above €5,000. You willhave to pay Income Tax, Pay RelatedSocial Insurance (PRSI) and UniversalSocial Charge (USC) on your net

business profits. You will also have topay any employee Pay As You Earn(PAYE), employer PRSI, Value Added Tax(VAT) and Relevant Contracts Tax (RCT)due. Use Revenue Online Service (ROS)to submit your annual tax return, whichis called a Form 11. Any salaries thatyou pay to employees are paid throughthe PAYE system. As a sole trader yourtax matters will always be dealt withunder your Personal Public ServiceNumber (PPSN).

PartnershipA partnership is where you run yourbusiness with one or more people. Theperson who is responsible for keepingrecords of the business is called the'Precedent Partner'. Each partner mustpay Income Tax, PRSI and USC on theirshare of business profits. You includeyour share of the business profits inyour own personal tax return. Thepartnership must pay any employeePAYE, employer PRSI, VAT and RCT due.

You may also have employees. Theemployees' salaries are paid through

the PAYE system. A partnership’sannual return is the Form 1 (Firms). ThePrecedent Partner must complete thisform. When you register thepartnership, Revenue will issue a TaxReference Number for the partnership.This number is used to register foremployer PAYE, employer PRSI, VAT andRCT. Your personal tax matters will bedealt with under your PPSN.

CompanyA company is a legal form of businessorganisation. It is a separate legal entityfrom those who run it. If you aretrading as a company, you are not selfemployed. The company must payCorporation Tax (CT) on its businessprofits. The company’s annual return isthe Form CT1. This must be submittedthrough ROS. The company will have topay any PAYE, VAT and RCT due. Alldirectors’ salaries and fees are paidthrough the PAYE system. Revenue willissue a separate Tax Reference Numberfor the company. Your personal taxeswill be dealt with under your PPSN.

Are you up to date with your GDPR?

- PAGE FIVE -

The General DataRegulation Protection(GDPR) puts personal databack in the hands of theindividual who owns it.It’s an important piece of legislation,yet some people still aren’t sure whatit’s about. Many start up businessesand organisations might be underprepared. So, here’s what you need toknow:

Just what is GDPR?If you’re one of the many people thatdoesn’t understand the conceptbehind GDPR, you don’t need to swimthrough pages and pages of legaltext. GDPR puts personal data back inthe hands of the individual who ownsit. It also ensures organisations areclear and honest about how theyhandle personal data.

How do you handle personal data?Only collect personal data that youneed and only store it for as long asyou need it. You have certain keyresponsibilities in relation to theinformation which you keep oncomputer, or in a structured manualfile about individuals. Here are thesummarised ‘Rules’ which you mustfollow, according tohttp://www.dataprotection.ie

You must:Obtain and process the informationfairly. Keep it only for one or morespecified and lawful purposes. Process

it only in ways compatible with thepurposes for which it was given toyou initially. Keep it safe and secure.Keep it accurate and up-to-date.Ensure that it is adequate, relevantand not excessive. Retain it no longerthan is necessary for the specifiedpurpose or purposes. Give a copy ofhis/her personal data to anyindividual, on request.

These provisions are binding on everydata controller. Any failure to observethem would be a breach of the Act.Check data storage systems are secureDon’t store personal data unencryptedon a USB stick, for example; or leave iton an unsecured web server. Databreaches can lead to big fines underthe regulation, so keep it secure,encrypted and safe.

Who is responsible for data protection at work?You need to appoint someone withinyour company to take charge of data

compliance. They must be properlytrained and briefed on theirobligations. This person could be aData Protection Officer – if you’rerequired to appoint one – dependingon the nature of your organisation.Certain data controllers are requiredto register with the Data ProtectionCommissioner.

Treat personal data with care and respectThis is the simplest part of the wholething. How would you want yourpersonal data treated? Treat anypersonal data you collect the sameway. There will be consequences fornon-compliance with GDPR, includingfines up to €20 million.

If you’ve started thinking about GDPRand have good practices in place,none of this should be a hugeproblem. But if not, don’t panic, butmake sure you take action now to getyour business in order.

Revenue has becomeaware of a number ofindividuals who receivedphone calls from a personpurporting to work inRevenue advising that atax refund is due,demanding the immediatepayment of a tax bill orstating that a criminal caseis being taken against theindividual. This person isnot calling from Revenue.

If you receive a telephone callpurporting to be from Revenue aboutwhich you have any doubts, particularlyif the call is unexpected, you shouldcontact your Revenue Office.

If you receive contact demandingpayment of tax about which you haveany doubt, you should contact:

Collector General's Division (1890 20 30 70 or 01 738 36 63).

Anyone who mistakenly providespersonal information in response tothese types of fraudulent phone callsshould contact their bank or credit cardcompany immediately and alert theGardaí.

It is important to point out that thesetypes of scams in no way involveRevenue’s systems or security.

Warning: Bogus phone calls

- PAGE SIX --

Questions to considerbefore starting yourown business!!

1. How well do you ‘know yourself’?Are you able to work alone and/or withpeople? Can you take responsibility ofthe tasks to achieve? Are you selfmotivated, open minded and have apositive attitude?

2. Are you prepared to take a risk?Starting a business will involve riskingyour savings, and others if you areborrowing money, also alot of timeAre you prepared for the demand andsacrifices?

3. Research, research, research yourmarket/industry/product!What are the statistics/results/findingsto help you set up a business plan?Have you checked the market for yourproduct/service? Who are yourcustomers? Who are your competitors?

4. Look at your productionrequirements – premises, equipment and labour

Where will the business be located?What considerations are important inthe choice of premises? Whatequipment is required? Will employeesrequire additional training prior tocommencing work?

5. Work out your total costsWhat costs are involved in the purchaseof capital equipment/premises? Whatare your labour costs/what is the costof your time? What is the cost involvedin production?

6. Estimate your selling price andplan how you will achieve salesTaking the above factors intoconsideration estimate your sellingprice for service/product. Who/where isyour target market (local/national)? Howwill you promote your enterprise?What channels/platforms will be used?

7. Decide the legal framework ofyour business/check out anylegislation that might affect youWhat business structure will theenterprise use – sole trader,partnership, limited company?

Have you registered your businessname with the register of businessnames? (www.cro.ie)Have you registered as self employed?Are you familiar with your obligationsas an employer? Are you familiar withyour tax obligations (Income & VAT)

8. Check out your sources of materials/supplies, their availability and costWhere can the raw materials bepurchased? Have you receivedquotations from a number ofpotential suppliers?

9. What are your totalfinancial/investment requirements?How will you fund the project (personalinvestment, borrow from family &friends, grant aid, loan)?

10. Produce a Business PlanUse a template that's up to date,commit relevant information to paperand be realistic and set targetsbased on the research carried out.

Starting your own business!!

In the past, the wordoutsource had a fewnegative connotations.People associated it withoutbound and inbound callcenters routed to foreigncountries.This assumption isn’t accurate, asoutsourcing is actually hiringindependent workers or firms to handletasks you don’t want to overpay tohandle yourself. It doesn’t necessarilymean hiring someone in a foreignnation either; an outsourced employeecould be in a neighbouring building.

Here are 3 key tasks that you couldlook at outsourcing for your smallbusiness:

1. Computer Repair, Monitoring and ServicesAn IT department isn’t always necessaryfor a small business; instead, why not

hire a third-party IT support companyto manage your IT support and ITservices?

Outsourcing your networking needsdoesn’t mean you won’t receiveimmediate support should somethinggo wrong. These companies providearound-the-clock care, including non-stop monitoring against viruses andother threats.

2. Accounting, Payrolland other FinancialsFor small businesses, moneymanagement is a key component ofyour success. Poor record keeping cancripple your business. You absolutelymust keep a record of your spending,including expense reports and taxinformation. When you factor in payrollthings can and will get complicated, butwhen you outsource accounting to athird-party professional you’re ensuring

records are well-managed and you’resaving money.

3. Marketing and SEOIndependent contractors are muchcheaper than employees. You can payby the assignment or job, and whenyou’re not in need of marketing youwon’t pay anything. The problem here ishow important marketing materials andSEO tasks are. You absolutely mustconsider time, talent, and cost. Costisn’t the predominant factor herebecause you’re going to get what youpay for. Because marketing is going tobring in new customers, it’s essentialthat you choose an independentcontractor who is capable of deliveringresults at a price that’s fair to both ofyou.

You need to focus on making money,which can be difficult with many taskslooming and lots to delegate.

Small Businesses can easily outsource

- PAGE SEVEN --

For introverts andthose that are just shy,networking can feeloutside of theircomfort zone. Still,networking isimportant for anycareer and job.

It is through contacts and connectionsthat many interviews are scheduled,and jobs earned. If the idea of anetworking event makes you shudder,here are some tips that will help it gosmoother.

1. Take Networking OnlineFor many, it's the in-person quality ofnetworking events that can beparticularly challenging. The idea ofhaving to go up to strangers can beenough to make hands sweat andstomachs roll. Fortunately, we live in adigital age. Networking on the web has

never been easier to establish an activepresence online and interact withpeople in your field, LinkedIn, Twitter,Facebook etc.

2. Network One to One or Bring a FriendNot all networking needs to be done ata big event or meet-up. While groupconversations can be a struggle forintroverts, a one to one conversationcan give them an opportunity to showoff keen listening skills, and make asolid connection. Suggest coffee datesand other one to one interactions, andask friends and colleagues to set youup on chats with people outside of

your immediate network.Headed to a big gathering ofstrangers? See if you can bring afriend, co-worker, or even anacquaintance along. There's justsomething about knowing at least oneperson at an event that can make it lessnerve-wracking.

3. Don't Forget Old Contacts in aQuest for New OnesWhen you're in networking mode, it canbe easy to focus on expanding yournetwork, tracking your growing numberof LinkedIn contacts obsessively. Don'tforget, as you make new connections, tokeep in contact with the old ones. Dropold co-workers an email to catch themup on your situation (and of course,don't forget to ask after their career,too!). Schedule coffee dates, and keepin regular touch with the importantpeople in your network: as withfriendship, you don't want to only be intouch when you need a favour. Alwaysfollow Up After Introductions. Collectbusiness cards and send emails thenext day: make them personalised andtargeted to increase your chances ofsuccess. Add people on LinkedIn: mostpeople will accept invitations frompeople they've met in person.

4. Be PreparedAs you prepare for a networking event,think of it as if you're going into battle:your weapons are small talk. If there isa list of the people at the networkingevent available beforehand, make a listof the ones you'd really like to chatwith. Look them up online to find out abit of their work history to makestarting and maintaining a conversationeasier. Review these conversationstarters, so it's easy to connect withother participants.

5. Be YourselfYou don’t have to be the centre ofattention and don’t pretend to be. Youcan be reserved, and take advantage ofyour listening skills. You don't have tobe the centre of attention if that's not arole that you're comfortable with. Afterall, all the extroverts need an audiencefor their stories.

Perhaps the most important tip is toremember that you're not the only shyperson in any situation.

Top 5 tips for introvertsto network successfully

Your Goals do not getachieved by wishfulthinking nor does yourbusiness succeed withjust wishes anddreams.

Action is what moves items from beingthoughts, ideas, and goals into reality.To help make your plan work, use analarm for a task you have allocated.

Remember to complete deadline andhighest priority tasks first to get themost impactful, and sometimes moststressful, items off your plate early. Donot work on any other tasks until yourgreatest priorities for the day arefinished. Include 15 to 30 minutes inyour schedule each day to manage yourbusiness.

Also include 10 to 15 minutes at theend of each day to review the tasks forthe next day in your time managementplan. On the last business day of yourwork week, allocate at least an hour towrite and prioritize your five-day weeklyplan for the following week. Some small business owners feel sooverwhelmed with the number of thingsthat need to get done that they do notwant to take a break. A physical andmental break will increase your overallproductivity.

However, if you feel you must keepworking, look at your time managementplan and spend 15 also 30 minutesworking on a lesser-ranked task that isless mentally intense. Working on a lesschallenging task will give your brain abreak while still allowing you to beproductive.

Assigning Tasks and Delegating Reviewthe list in your five-day weekly timemanagement plan for tasks that can bedelegated to others. Many ownersfalsely believe they are the only oneswho can effectively do what needs tobe done. Objectively ask yourself, “Whoelse can do this task?” If you haveemployees, give them their timemanagement plan in the form of a setof tasks.

Be sure to provide these employeeswith insight into the importance oftheir work to the achievement of the

business’s goals. Whether you chooseto delegate tasks or not, as a smallbusiness owner, much of the work willfall to you.

You should be aware that mentalfatigue can occur when workingintensely for long periods during theday. When fatigue occurs, take a mentalbreak for 15 minutes.

Focus on nothing in particular. Considerusing this time to stretch your musclesand even take a quick walk. If you haveleft 25 percent of your workday open,you should not feel guilty about takinga break.

Key Elements to a Time ManagementPlan An effective time management planhas five important elements:

1. Clearly defined written goals2. Detailed list of tasks3. Prioritisation of the tasks4. List of important ongoing

business functions5. Built in flexibility

Key Element 1: Clearly Defined Written Goals. Start your time management plan withclearly defined goals. What do you wantto do? What do you want to be? Whatdo you want to have? Your timemanagement plan will be derived fromthese stated goals. When writing yourgoals, identify each of them as a short-term (quarterly), mid-term (12 months),or long-term (two to five years) goal.

Key Element 2: Detailed List of Tasks. Breakdown each goal into a set ofclearly defined tasks that need to becompleted to accomplish the goal.Goals do not get accomplished on theirown. Breaking down goals into writtentasks allows you to see and understandwhat actions are required. The task listwill also help you to see what resourcesare needed and how to allocate them.You may see areas where resources arelacking. Use the task list to startidentifying ways to get the tasks donein a timely manner.

Key Element 3: Prioritisation of the Tasks. With any task or “to-do” list, someitems on the list will be more importantthan others. Always try to complete themost important tasks first because

these tasks will usually have thegreatest impact on your goals and, byextension, your bottom line. However,some less important tasks may becomecritically urgent. For example, if youhave an ongoing task to pay all yourbills on the 15th of each month andyou forget to pay the electric bill, theunpaid bill will become a high priorityto avoid an interruption in service.

Key Element 4: List of Important Ongoing Business Functions. Many times, important ongoingbusiness functions are not directlyrelated to a goal and are not listed assteps or tasks. However, these functionsabsolutely must be completed tocontinue business operations. Acomplete list of key components ofyour business operations may not beattached to a goal but needs to beincluded in your time management plan.

Key Element 5: Built in Flexibility. Each day has only 24 hours. Your timeis limited. By assigning a time estimateto complete each prioritised task, youcan plan your day such that the mostimportant tasks are always completedin a timely manner. When scheduling,avoid filling every hour of the day withtasks. Leave plenty of unscheduled timefor flexibility.

SMART Goals Proper goal setting startswith knowing what you want toaccomplish. Try to write your goalsusing the following format:

• Specific - state the goal precisely.• Measurable - good measures allow you know when a goal is completed.

• Attainable - resources needed to complete the goal are within your reach.

• Relevant - the goal is applicable to your business.

• Time Bound - the goal has a completion date or timeframe for being achieved.

It is important to keep yourself in checkand to plan even for the unexpected.

Time Management Tips

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