According to a new survey from The Alternative Board, 84% of business owners are logging over 40 hours a week, and 1 in 10 feel continuously overwhelmed by their workload. The average business owner reports having only 1.5 hours of uninterrupted, high productive time each day, says the report.
35% of the business owners surveyed cite poor time management as the #1 productivity killer for their business, says the report, above:
TAB CMO Jodie Shaw says “Fortunately, the recent survey helped uncover where business owners are losing time and how they can reclaim it.”
Of the business owners surveyed, the majority report spending most of their time on email, though only 9% feel it’s the most important use of their time.
A third of those surveyed agreed that the best strategy for improving productivity would be scheduling specific time for responding to email.
Shaw says “… planning is the best way to reduce hours spent on necessary, yet time-consuming tasks such as email and meetings… set aside a defined block of time each day for responding to your email… create a thorough agenda/timeline for meetings… these tactics help cut out the extra minutes that add up to extra hours each day…”
81% of business owners feel most productive in the morning, with 87% preferring to get the most important tasks out of the way first. While the average business owner feels most productive from the office, nearly a third report that the most work is done from their home office, says the report.
86% of entrepreneurs believe company culture helps their productivity, and 47% in general believe productivity is equally a reflection of them as leaders, as do 46% of their employees. In terms of promoting better time management, 56% of entrepreneurs believe the best way to improve productivity across their business is better communication.
Shaw says “… it’s up to you… as a leader… to… pave the way for improved time management…”
The Alternative Board is an international provider of executive peer advisory boards. For additional information from PRUnderground, please visit here.