Time management. Just thinking about it makes us sick, doesn’t it? In truth, we need it. It’s necessary. It keeps us on track and makes us more efficient.

Greater business efficiency boils down to just one thing: How you spend your time. It’s the most important thing in business. Making money is good. You always want to make a profit. But if you lose revenue over a bad decision, you can always turn that around and increase your future revenue. You learn. You turn a loss into a gain. But if you lose time then you can’t get that back. That makes a time a bit more valuable than money, doesn’t it?

Small business owners are typically more strapped for time than their big corporation counterparts. Corporate executives usually have access to free training tools that help them become more efficient managers. Small business people, though we face the same challenges, are on our own. We’ve got to pay to play. Many of us feel that we can’t afford to shell out the dollars for the efficiency training, so we go on and on and on spending our time on things that don’t matter and in the process lose out on ROI. It’s one of the reasons many small businesses go down before the five year mark.

One tip I’d like to share for making your business day more efficient and allowing you get more done is this: Limitation. Grasp it.

Yes, I’m talking about limiting your activities. Let me explain:

Many of us, when we hear of the great new tool that everyone is using, rush over to give it a try. Some of us have so many social media accounts that we don’t use that if we started using them all then we’d only spend one day a month at each one, or less. Stop that!

The key to more efficiency is to learn what is truly important to your business and to focus on that. Do you need all those social media accounts? Maybe not. Maybe you just need one or two. Or maybe more, but who’s going to manage them?

There are two ways to increase your efficiency: Hire someone to handle the tasks that are eating up your time, and that costs money – although, it may not be a bad solution for some of you – or to limit the amount of time that you spend doing unnecessary things. In some cases I’d say hire someone and pay them $8-$10 per hour to handle those menial tasks that you shouldn’t be doing. In other cases, and in a lot of cases, I’d say cut out completely some of those things you are trying to do and just focus on the important ones. I’ll bet you get more done.