Why and How to Set Priorities For Effective Business Growth and Time Management

Being able to set achievable priorities is the key to getting more organized and making the most of your time. As a businessman, you can always make more money, but you can never make more time. Knowing how to set priorities is vital to creating extra time to achieve business plans. Good time management entails identification of what’s the most important.

The most successful businessmen achieve effective time management by – creating all possible situations, defining priorities and avoiding distractions. A major part of becoming a productive person is learning on how to prioritize tasks. A priority is something that is given special attention. It is the state or quality of being earlier or occurrence.

Why set priorities

Living a life of smart priorities defines the best ways to becoming more efficient in making most of your time and reaching your goals with less effort. Priorities are not what you say they are. They are what you do. You should make an internal reflection on whether those are the priorities that you want to live in. Benefits of setting priorities include;
– You take control of your life
– You focus on important things first
– You will make good decisions
– You finish tasks effectively
– You can evaluate your progress on the success ladder

How to set priorities

The process of setting priorities will begin with making a decision on what you want most in life, followed by organizing your time and activities so that all that you do is valuable for your time in achieving the set objectives.

1. List your tasks

Efficiency involves doing things right, but effectiveness is doing the right things. List down the thing or the objectives that you want to achieve. Sort out the highest priority on your list. You can’t begin on working effectively unless you effectively work on achieving your major goals. You can never work towards achieving your success if all the objectives that you have listed have equal strength. They shall clash, and you will not be in a position to perform each at a time. Use an index to set the highest in the must do.

2. Use the ABCDE Method to set priorities

In your list, use the ABCDE method in defining the most important priorities

A – The very important or the ‘must do’ – They have severe consequences if not completed.
B – The Important or the ‘Should do’ – They have only minor negative consequence if not completed
C – Stands for the ‘nice to do’ – They do not have a negative consequence of not completing
D – The ‘Delegate’- You can assign to someone else
E – Stands for the ‘Eliminate.’

3. Create the right pace and the sequence for the future

Not all of the priorities are equal. It is quite a challenging task to strike the right balance of the most important tasks and what each priority will impact on the business. Achieving the right balance involves consideration of the two factors. Have a sequence of priorities and know how to balance them as the near term or long term.

The Priority timetable that you should follow.

1. Take your time to be clear about your goals and the objectives that you need to meet.
2. Develop a long-term perspective and work on achieving the listed things.
3. Make a personal commitment to improving on those aspects of your life that are most important to you.
4. Take your time to do your work right the first time.
5. Remember what counts is the amount of time that you spend working on the high-priority tasks
6. Understand that the ability to making wise choices is the most important factor in setting priorities

The essential key to achieving success in setting priorities lies on having a long time perspective to achieve. You can tell how vital something is today, by the measurement of its potential future impact on your life. Setting priorities will entail sacrificing the present enjoyments for future enjoyments. It involves giving up on the short term pleasures to enjoy a far greater and more substantial pleasure in the coming future.