Time Management in an Online Business System

One of the biggest things plaguing home based business entrepreneurs is time management. Since we do not have someone setting our schedules and making sure our duties are accomplished, it is our responsibility to ensure that our time is spent wisely. This is true for those that have a solo work from home business as well as those involved in an online business system, as this is what will make your business profitable. If you have members in your team, you will need to figure out how to spend your own time so you can teach your team how to which is a definite win-win situation.Recently I was reminded of "The Pareto Principle: The 20/80 Principle". I was re-reading "Developing the Leader Within You" by John C Maxwell, and states this principle as this. "20 percent of your priorities will give you 80 percent of your production IF you spend your time, energy, money, and personnel on the top 20 percent of your priorities." What I read into this principle is simply send 80 percent of your time on the 20 percent of activities that are most profitable. Leave the 80 percent of duties that are not money making till you have the time, or get someone else to do them if you are able to would be even better.You can never overestimate the unimportance of practically everything.As I am sure everyone in Network Marketing or MLM business has heard, "It is not how hard your work; it is how smart you work." We have all shuffled papers, answered emails and phone calls that have tied up our entire day which has produced little to no profit to our business. If you figure out what gives you the most profit, or those people that are most productive and spend your time dealing with those, you are on a great road for success.Efficiency is the foundation for survival. Effectiveness is the foundation for success.Figuring out what the top 20 percent profit makers are, but here is a hint that I learned at one of the trainings I attended. Make a list of everything that makes up your business, and write everything - tasks and people. Now look at each and think "If this has a negative action against me, what will the impact likely be?" If it can hurt your business, put a check beside it. If it will not impede or harm your bottom too much, leave it. The ones with the checks are the ones that make up the 20 percent and the ones you should spend the majority of your time looking after. This little trick has helped me with my online business, so I hope you find it useful as well.