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Why and How Time Management Skills are Important for The Success of Your Business
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Time management skills are like a good pair of pants – you need to try several pairs before you find the right one which suits you best. Time management is not very difficult as a concept but it is hard to put into practice.
In this article we will introduce a time management tool called priority matrix. You can have try and see whether it is the right one for you.
Priority matrix defines all tasks into four categories depending on the importance and urgency of each task. It is shown as follows,
|
|
Urgent |
Not urgent |
|
Important |
1.Do now |
2.Plan to do Do later after finish box1 tasks |
|
Not Important |
3.Reject and explain Do later if still necessary |
4.Resist and cease Do when finished box1-3 tasks and need a rest |
Activities in box 1 include all emergencies issues, demands from customers, planned tasks not due, etc. Box 2 includes planning, preparation, scheduling, research, investigation, reviews, networking relationship building, etc. Box 3 includes trivial requests from others, pointless routines, accumulated unresolved trivia, etc. Box 4 includes all comfort activities like computer games, net surfing, excessive cigarette breaks, etc.
We have different priorities for tasks from different categories. People with poor time management skills tend to spend more time on box 1 and box 4 because they tend to do easy comfort tasks and ignore non urgent important tasks so all important task become urgent.
People who are good at time management spend more time on box 2, which is the most critical area for success, development and proactive self-determination.
The right way of handling four kinds of tasks is written in the matrix. Urgency or not is not a fixed status. You should review your task list regularly to make sure that nothing gets moved up just because it has become more urgent.
Other time-management tips:
· Tidy up working environment.
· Make a list before starting a pile of work.
· Do not multi-tasking.
· Learn to say no politely and constructively.
· Never try to eat an elephant all in one go.
· Pick at least three of the above tips and put them into practise.
Saurav Wadhwa is a Principal Accountant at IBBZ Accounting Limited
M Bus (TAX) PG Cert (LAW) CA CPA
Membership and Qualification:
- Masters in Professional Business Studies (Taxation) with Distinction from Auckland University of Technology
- Post Graduate Certificate in LAW, Law School at Auckland University of Technology
- Chartered Accountant(CA), New Zealand Institute of Chartered Accountants (NZICA)
- Certified Practicing Accountant(CPA), CPA Australia
- Bachelor of Commerce, Grad. Cert. in Business from Auckland University of Technology
Saurav has many years of practical experience in tax & accounting services and is the co-founder of IBBZ Accounting Limited. He is qualified both in law and accounting. Saurav has worked in various tax & accounting specialist roles for large corporates in New Zealand. He loves to work with Small Businesses.
His key focus is on:
- Tax advisory for small and family operated businesses on a wide range of taxation issues.
- Legitimate tax saving structures.
- Advising on range of new business issues.
- Ensuring business growth is attained.
- Effective cash flow planning.
Saurav specialises in Tax Disputes resolution, Tax Relief applications, Tax Debt resolution/management, and representation in Tax Audit. Saurav can represent you in Taxation Review Authority, in Tax Dispute Court Cases or he can represent you during Tax Audit Investigations.
Blend of skills in Tax laws and accounting, makes him perfect advisor for small businesses and individuals like you. Saurav understands how to safeguard your business from creditors risk, maximise the business growth and pay low taxes. He can be your good strategic and business partner. He is of a friendly nature and easily approachable.
Saurav understands the numbers very well. He is a qualified Chartered Accountant and registered with highest professional accounting bodies of Australia and New Zealand. He can help you to plan for the future to satisfy all your financial needs.
Consumed by a hunger for knowledge, Saurav has never stopped furthering his education or expanding his pool of knowledge. Nothing gives Saurav more satisfaction than assisting his clients to achieve their financial goals. His diligence, passion and accuracy has earned him a reputation as a reliable professional who strives to serve his clients above and beyond the call of his duties.
Saurav was nominated for the Best Accountant of the year and the Young Entrepreneur of the year, and his company IBBZ Accounting won the award of Best Small Business 2014. In 2015 Saurav won the award of Best Accountant of the Year.
In 2017 Saurav was appointed as a committee member to New Zealand Public Practice Board of CPA Australia.
Saurav is a dedicated family man. Saurav is very fond of outdoor activities and enjoys pretty much all outdoor activities: running, bike, motorbike, snorkel, fishing, skiing etc. Saurav, is also a self-confessed workaholic, spends some of his free time thinking about his client’s affairs and forecasting their financial future.
He can be contacted on saurav@ibbz.co.nz or 09 272 8050
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