Wednesday, June 2, 2010

Time Management

Somehow DME/HME providers have lost track of the value of time. When Iget calls from dealers often Ihear the same complaint, “there aren‘t enough hours in a day.”

My response is always the same. “You do not schedule your daily activities!” Then I am asked, “How can we do that in an active retail operation?” The solution is in the question! “An active retail operation.” This would never be without a staff.

Iusually use the term “entrepreneur”, but now Iwill us the term “proprietor.” The proprietor will try to do everything by himself and so neglect to correctly utilize his staff. When there are employees to do it then he should not be at the counter waiting on retail trade. He really should be in his office mapping out new strategies. Time must be set aside for that purpose. Should he be running to the warehouse to check on outgoing orders or incoming merchandise when he pays staff to do it? Who should be reviewing invoices and purchase orders to ensure these are correct? Should he be writing purchase orders when there is a purchasing agent? The proprietor cannot do everything! Time management means delegating.

A true entrepreneur would set aside time to monitor all operational activities. (Webster: an entrepreneur is a person who manages a business undertaking, assuming the risk for the sake of profit.)

It is not difficult to sit down and plan daily activities. As the entrepreneur, you know what must be accomplished and by managing the time spent in the office, as well as when out, you will discover very quickly that there is time to achieve all of your goals. Time management is another key to success!

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