10 Top Time Management Skills for Small Business Owners

What are the best time management strategies for small business owners?

You’re in the right place. Today, you’ll learn the best strategies to…

Build a highly profitable business
Have time for personal projects
Be present for your family and take care of your health

So that you can enjoy life more instead of feeling burned out, overwhelmed, and stuck.

These are the exact steps Demir and I took to running our multi-seven-figure business while working 20 hours a week.

Want to learn all about time management for business owners? Read on!

💡Key takeaways:

Nearly 60% of small business owners work at least 50 hours every week.
44% experience burnout multiple times a month.
Learning to prioritize tasks, delegate, and set boundaries can help business owners take control of their time.

Top 10 time management tips to save time as a business owner

Nearly 60% of small business owners work at least 50 hours every week. Most (70%) don’t mind, but it can take a toll. For example, 70% of small business owners say they’re stressed each day, and 44% burn out multiple times a month.

As a business owner, you’re responsible for daily operations and:

Accounting and finances
Marketing and sales
Planning and strategy
Hiring, managing, and mentoring employees
Legal contracts
Customer service

It’s no wonder burnout happens. You’re not just wearing many hats—you’re wearing them all at once.

But here’s the good news: you don’t have to burn the candle at both ends to succeed.

Take Mike, for example.

Mike left his corporate job to start his own business. He was passionate about making it work but quickly found himself stuck in a whirlwind of tasks. His days were chaotic—he couldn’t focus, stay organized, or make progress on his big goals.

Then he joined our Lifehack Tribe and learned time management strategies in our Bootcamp.

The result? He completely redesigned his workflow. In less than a month, Mike landed several million-dollar clients.

How does he manage his time while growing a thriving business?

Here are the best time management strategies for business owners who want to get it all done without burning out:

1. Prioritize tasks

As a business owner, everything can feel like the most important task.

But if you want to manage your time effectively, you have to prioritize the right way—and focus on tasks that truly move the needle.

Here’s a simple yet powerful tool to help: The Eisenhower Matrix.

Use this framework to categorize tasks and decide how to handle them:

Urgent and important: Do these now.
Important, not urgent: Schedule these for later.
Urgent, not important: Delegate whenever possible.
Not urgent, not important: Eliminate these altogether.

Another way to think about it: What’s the one task you can tackle today that will make everything else easier or unnecessary?

Start your week by finishing the high-leverage tasks first. This creates momentum and frees up your time for less critical tasks later.

Want to see how this works in action? Check out this quick video:

And while you’re prioritizing, don’t forget to write it all down. Why? Because a clear to-do list is like a roadmap—it keeps you on track and stops you from wasting time.

Here’s how to create an effective to-do list:

Use the 1:4:5 rule: Write down 1 major task, 4 medium-level tasks, and 5 simple tasks.
Write tasks with actionable verbs (e.g., “Draft proposal” instead of “Proposal”).

Break each task into smaller, manageable subtasks to make them easier to complete.

2. Use time blocking

Stop trying to multitask! You might feel like you’re getting a lot done. But multitasking doesn’t work… and studies show it reduces your productivity by 40%.

So, what’s the smarter alternative? Time blocking.

Time blocking is simple but powerful: you set aside specific blocks of time on your calendar for each task, ensuring you focus on one thing at a time.

Here’s how to get started:

Plan your day in blocks: Assign every task a dedicated time slot.
Leave 12-15% of your schedule as flex time for unexpected tasks or interruptions. This gives you breathing room without throwing off your entire day.

A great way to start time blocking is with our Sticky Focus Game.

It’s fun and incredibly effective. Here’s how it works:

Write each 60-minute block of your day on a sticky note.
Set a timer and commit to focusing on just one sticky note at a time.
If you finish all your blocks without distraction, you win. If you get sidetracked, you lose—but it’s a great way to improve your focus over time.

Want to see the Sticky Focus Game in action? Watch this quick demo:

3. Track your time

Do you ever feel like there’s just not enough time in the day?

Here’s the surprising truth: you probably have more time than you think. You just don’t know where it’s going.

That’s why tracking your time is so powerful. It helps you uncover hidden patterns, wasted hours, and opportunities to optimize your day.

Start with a simple time audit.

For two weeks, write down exactly how you spend every hour of the day. Yes, it might feel tedious, but the insights are worth it.

Here’s what you’ll discover:

How you’re actually spending your time
Which tasks and meetings eat up the most hours
Whether your actions match your priorities
Areas where you can improve efficiency
Opportunities to outsource or delegate

This information will help you optimize your calendar, which is a crucial part of time management for business owners.

Take my client Margie, for example.

She felt constantly overwhelmed, with no time for herself or her family. After completing a time audit, she found a surprising time-waster: she was spending hours each week scrolling through news sites.

By cutting out this habit, Margie freed up 11 extra hours a week—time she now spends on high-value business tasks and quality time with her husband.

Want to learn how to conduct your own time audit? Watch this quick video:

https://www.youtube.com/watch?v=I6l_RDW30vk

4. Set goals

Every business owner needs goals.

Why? Because goals give you direction. They keep you motivated, focused, and performing at your best.

But not just any goals will do. For goals to truly work, they need to be SMART:

Specific – Clear and detailed, so you know exactly what you’re working toward.
Measurable – Easy to track your progress.
Attainable – Challenging but realistic.
Relevant – Aligned with your business priorities.
Time-bound – Set with a deadline to keep you accountable.

Here’s the secret: don’t just set goals—leverage them.

Ask yourself: Which goal will make the biggest difference in the shortest time?

Start with the high-impact goals and tackle those first. This approach builds momentum and helps you see results faster.

And remember: small steps lead to big wins.

Break down your big goals into weekly milestones. For example:

Decide on your #1 priority for the week.
Make sure it ties into your bigger monthly or quarterly goal.
Focus on completing this one priority before moving on to the next.

When you set clear, actionable goals and break them into manageable steps, you’ll not only finish what you start—you’ll feel more confident and in control of your time.

5. Learn to delegate

Unless you’re the ONLY one who can do it, delegate it. Delegating isn’t just about lightening your load—it’s about freeing up your time to focus on what truly matters: growing your business, serving your clients, and pursuing your big-picture goals.

And delegation doesn’t stop with your employees. You can also hand off work to freelancers or virtual assistants (VAs).

Don’t want to give up control?

I get it.

The thought of hiring my first virtual assistant was nerve-wracking…

Freelancers and VAs have been game-changers for my business.
They’ve helped us grow to multiple seven figures, land high-profile podcast interviews, and even enjoy personal freedom—like traveling the world.
They allowed me to take a six-month break after my daughter was born, knowing my business was in good hands.

Delegating isn’t about losing control; it’s about gaining more freedom and focus.

Ready to explore hiring your first VA or freelancer? I’ll walk you through the process step-by-step in my guide:

Outsourcing Mastery course

6. Minimize distractions

According to the Pareto principle, 80% of your results come from 20% of your effort.

Which means that even small distractions can wreak havoc on your productivity.

Why? Because distractions aren’t just momentary interruptions—they have lasting effects:

It takes 23 minutes to fully recover your focus after being distracted.
They lead to more mistakes.
They fuel procrastination, making it harder to get back on track.

So, get rid of as many as possible!

Here are a few simple but powerful strategies:

Close your door to block interruptions.
Put your phone on Do Not Disturb or hide distracting apps.
Set a communication policy so your team knows when you’re available (and when you’re not).
Invest in noise-canceling headphones to create a focused work environment.

But these tricks don’t work for the ultimate distraction – the internet. The internet is a productivity black hole. It’s designed to grab your attention and keep you scrolling, making you lose track of time.

That’s why I recommend using focus apps like:

Freedom – Blocks distracting websites and apps.
Cold Turkey Blocker – Completely locks you out of distractions.
LeechBlock NG – Customizes blocking rules to suit your workflow.

With these tools, you can reclaim your focus, minimize interruptions, and maximize the impact of your 20% effort.

7. Schedule your day

Creating a daily schedule helps you:

Reduce stress.
Use your time more efficiently.
Stay focused on what matters.
Find a better work-life balance.

The key is to determine when your energy is highest and lowest and build your schedule accordingly.

Everyone’s energy peaks and dips at different times. If you plan around your natural rhythm, you’ll get more done with less effort.

For example, Demir’s energy is highest in the morning, so that’s when he tackles deep, focus-intensive work. In the afternoon, when his energy dips, he switches to lighter, shallow tasks.

Ask yourself: When do I have the most energy? The least? Then structure your day to match.

But why stop at scheduling your day?

For years, Demir and I have been pre-planning our weeks with what we call the Winning the Week formula. It’s transformed the way we work—and it can do the same for you.

Here’s how it works:

Review last week – What worked? What didn’t?
Set goals for this week – Focus on priorities that will move the needle.
Prioritize your tasks – Decide what must get done first.
Block your time – Assign specific time slots for each task.
Review and adjust – Stay flexible and refine as needed.

Want to see exactly how we do it? Check out this video (or our book):

8. Use technology

Managing your time as a business owner has never been easier—thanks to technology.

With the right tools, you can streamline your workflow, eliminate repetitive tasks, and stay laser-focused on what matters most.

Here’s how:

Organize and track your tasks
Task management apps like Asana and Trello make it easy to organize, prioritize, and track your projects. We use Asana to manage our entire team. It’s helped us cut down on unnecessary meetings and endless email threads, freeing up hours every week.

Automate routine tasks
More tasks can be automated than you might realize. From call management to invoicing, automation can save you time and mental energy.

For example:

We use Fathom to take notes and summarize calls automatically.
Zapier helps us log calls into a tracking sheet—no manual input required.

And look for other tools that fit your specific needs—like a CRM or invoice automation—and you’ll create a tech stack that works for you.

9. Set boundaries

Here’s a lesson I wish more business owners would take to heart. Setting boundaries won’t kill your business. They’ll help it grow.

Why? Because boundaries are the foundation of:

Productivity – They protect your time and focus.
Work-life balance – They create space for rest and personal priorities.
Mental and physical well-being – They reduce stress and prevent burnout.

In short, boundaries make your journey as a business owner sustainable.

But boundaries aren’t just good for you—they’re good for everyone around you:

Your family gets more quality time with you.
Your team learns when they can expect your input and when to take ownership.
Your clients know exactly what to expect from your services.

Of course, setting boundaries isn’t always easy. Saying “no” can feel uncomfortable—but it’s often the most powerful move you can make.

Take our student Dietmar, for example.

He realized his lack of boundaries was causing constant stress and overwork. By learning to say no and set clear limits, he reduced his workload to just six hours a week—without sacrificing results.

Hear how to set them in this quick video:

10. Take breaks

Staying glued to your desk is one of the quickest ways to kill your productivity.

Taking regular breaks isn’t slacking—it’s self-care. And it’s one of the most effective ways to:

Recharge your energy.
Improve your well-being.
Boost your work performance and productivity.

Personally, I make it a point to take a 10-minute break at the end of every hour. I use that time to stretch, get some fresh air, or say hi to my kids. These short breaks make a huge difference in how focused and energized I feel throughout the day.

If you struggle to remember to take breaks, try using tools like the Sticky Focus Game or the Pomodoro Technique. Both are built around structured work sessions with built-in time for breaks—so you stay productive and refreshed.

So, those are the secrets to better time management for business owners.

But why is time management so important? Let’s find out.

The importance of time management for business owners

Business owners are responsible for every aspect of their business.

No wonder 72% of entrepreneurs feel overwhelmed!

One of the biggest challenges for business owners is time management – on average, they only have 1.5 hours of highly productive time each day.

And that’s why learning time management is so important.

It can improve everything – including:

A healthier work-life balance.
Greater productivity and focus.
Lower stress levels.
Enhanced creativity for solving big challenges.
Better engagement with your clients and employees.

In other words, time management doesn’t just make your day-to-day easier—it transforms your business and your life.

FAQ: Time management for business owners

How do small business owners manage their time?

Small business owners manage their time by focusing on what matters most. That includes:

Prioritizing the tasks that drive results.
Delegating responsibilities to employees, freelancers, or virtual assistants.
Automating repetitive tasks to save time.
Setting boundaries to protect their time and energy.
Establishing clear goals and tracking progress.
Taking care of themselves with breaks and self-care routines to stay sharp and productive.

How do you stop wasting time in your business?

Eliminate as many distractions as possible and automate as much as you can. Once you’ve done that, use project management software to streamline the workflows that can’t be automated. Set clear daily goals and priorities and use time-blocking techniques to stay focused.

What are the 4 P’s of time management?

The 4 P’s of time management are:

Prioritization: Identify and focus on the most important tasks first.
Plan: Create a detailed schedule to organize your day and stay on track.
Productivity: Use techniques like time blocking to stay focused and efficient.
Procrastination Management: Minimize distractions and stay committed to completing your tasks.

Next steps

That’s it! These are the best tips for time management for business owners.

Managing your time as a small business owner can not only help you get more done, but you’ll also feel more fulfilled, build a far more profitable business, and enjoy your own time.

That’s exactly what we’ve been able to achieve with the Lifehack Method.

We grew our business to multiple seven figures while working just 20 hours a week. We’ve taken long vacations, raised our three daughters, and still found time to enjoy the journey.

Want to learn how we did it?

Get our time management training now!

Read more:

Time Management for Consultants

How CEOs Manage Their Time

The Best Productivity Coaches for Entrepreneurs

The Best Time Management Courses

Time Management for Lawyers