Time is our most valuable asset. It’s limited, non-renewable, and impacts every area of our lives, from business to relationships to personal health. For entrepreneurs and those starting their own businesses, mastering time management is a crucial skill that can set you apart.
This guide explores the value of time and how we spend it and offers strategies for using it effectively. Whether launching a startup or growing a business, learning to handle time well is vital to success.
1. Time is Precious Because We Have So Little
The average life expectancy is 73 years. For most of us, that time breaks down into various activities:
- Sleeping: 26 years
- Working: 13 years
- Leisure and Hobbies: 4.5 years
- Eating: 4 years
- Commuting: 1.5 years
- Household Chores: 1 year
- Education: 1 year
- Socialising: 1 year
As you can see, much of our time is spoken for, and some of it is spent in ways that don’t always bring value. Understanding where this time goes is the first step to reclaiming it for more purposeful pursuits.
2. How Our Years Get Spent
A breakdown of time helps us see that our lives are mostly taken up by necessary but repetitive activities. Awareness of this lets us make intentional choices about where we spend our remaining time.
For example:
- Sleep is a non-negotiable, yet we can improve its quality.
- Work and commuting consume a large portion of our lives. Choosing meaningful work and reducing commute times can free up hours over a lifetime.
- Leisure can be rejuvenating, but we can aim to make this time genuinely fulfilling rather than passive.
This awareness empowers us to shape how we use time after necessary tasks.
3. Time by Month and Day: Earning, Spending, and Relationships
On a daily and monthly basis, here’s how time is typically divided among critical activities and relationships:
Monthly Time Breakdown:
- Work: ~160 hours (for a full-time job)
- Family: 60-80 hours
- Social and Friends: 20 hours
- Self-Care: 30-40 hours
Daily Time Breakdown:
- Earning (work): 8-10 hours
- Relationships (family, friends): 2-3 hours
- Self-care (exercise, hobbies): 1-2 hours
- Necessary Tasks (eating, commuting): 3-4 hours
With these insights, we can see that personal dreams and growth require intentional planning. Most days are filled with obligations, so guarding any time left for high-impact pursuits is essential.
4. The Entrepreneur’s 8 x 8 x 8 Framework
The 8 x 8 x 8 time management framework is a popular method to balance work, personal life, and rest:
- 8 hours of work: Concentrated, high-energy tasks that drive your business.
- 8 hours of personal time includes family, friends, and hobbies.
- 8 hours of sleep: Essential for mental and physical rejuvenation.
This approach divides each day into productivity, relationships, and self-care segments. It allows entrepreneurs to create balance while giving focused attention to each part of life.
Here are additional frameworks to enhance productivity:
- The Pomodoro Technique: Work in 25-minute intervals (Pomodoros), followed by a 5-minute break. After four Pomodoros, take a 15-30 minute break. This technique encourages focused work without burnout and can be great for tasks that need deep concentration.
- The 80/20 Rule (Pareto Principle): Recognize that 80% of results come from 20% of tasks. Focus on high-impact activities and minimise or delegate low-impact ones. This prioritisation helps you cut through busy work and focus on what drives growth.
- Time Blocking: Divide your day into blocks dedicated to specific activities. Reserve larger blocks for “deep work” and shorter ones for administrative tasks, like emails. Dedicating particular times to each task minimises interruptions and stays organised.
Using tools already available on most smartphones can help implement these frameworks. Calendar apps on iOS and Android and built-in timers can effectively support time blocking and Pomodoro intervals. You don’t need extra apps—just consistent habits and smart scheduling.
5. Time Equals Money—and Health
For entrepreneurs, time is money—but it’s also health. Productive time drives revenue, while wasted time has financial and personal costs. Poor time management can increase stress, impact health, and reduce work quality. Balancing time for work and well-being helps you create a sustainable, fulfilling lifestyle.
6. Treat Time Like an Investment
Think of time like a financial investment:
- High ROI Activities: Actions that produce significant results, like strategic planning or networking with valuable contacts.
- Moderate ROI: Routine tasks that need to be done but don’t offer huge returns.
- Low ROI: Distractions or tasks that don’t align with your primary goals.
Just as you would with money, place, and time, where it gives you the greatest return. Regularly reevaluate your "time investments" and adjust to meet changing priorities and opportunities.
7. Know Who Wastes Your Time—and Who’s Worth It
Your relationships play a significant role in how your time is spent. Here are some examples of those who drain time and those worth investing in:
Time-Wasters:
- Energy Drainers: People who complain often without offering solutions.
- Procrastinators: Those who put off decisions or actions, holding you back.
- Non-Collaborators: People who resist working towards common goals, creating friction.
Time-Worthwhile:
- Mentors: Those who guide you toward growth.
- Strategic Partners: People who contribute mutual value and help grow your business.
- Supportive Friends and Family: Those who encourage your goals and respect your time.
Spend time with people who add value, challenge you to grow, and support your journey.
8. Cherish Time by Cultivating Self-Awareness
Time is honest—it always tells the truth about where it’s spent. Cultivating awareness of your time allows you to make better decisions about who you spend it with, what you focus on, and how well it aligns with your goals. Taking time to reflect daily or weekly can reveal which activities are helping you move forward and which are just passing the hours.
In the spirit of using time wisely, consider integrating s͛Card into your networking strategy. s͛Card, a digital business card, helps you make powerful first impressions with quick and relevant information. It saves time for both parties when networking by instantly presenting essential details about your background, skills, or services. Plus, with a complete and up-to-date profile, you’re less likely to miss opportunities since your contacts won’t need to dig through multiple channels for information. s͛Card keeps things professional and direct, letting you spend less time explaining and more time connecting.
In summary, time is more than a clock ticking in the background; it’s the foundation of your potential, relationships, and success. Spend it as carefully as money, guard it as fiercely as health, and invest it for the best returns.
