Time Management for Maximum Ecommerce Profit

(529)

If you are running an ecommerce website, then time management is probably one of your top issues. Indeed, there are endless opportunities to make money on the internet… but you only have so many hours in a day. Here are a few tips for managing your time in a way that will maximize product and get the most profit out of every second.

  1. Remember the 80/20 rule. This rule states that 80% of your profit comes from 20% of your effort. Your goal is to identify the 20% of your activities that are making money and then to do more of these activities. That other 80% of your time may not be entirely wasted, but it is not profitable either. 
  2. Be a list maker. Rather than let your days pass by in a flurry of activity, make a list of the things that you need to accomplish in your day. Don’t put too much time or thought into the matter; simply jot these things onto a piece of scratch paper. Then, take a highlighter and highlight the activities that directly earn money. These activities will be the first to be accomplished and receive the most energy and time.
  3. Give yourself deadlines. One of the benefits of working for yourself is that you don’t have a boss breathing down your neck as deadlines approach. Unfortunately, this is one of the drawbacks as well. Being your own boss means that you need to set your own deadlines and hold yourself accountable to them. This will help you to work faster and organize your time more effectively.
  4. Avoid being connected to other. While technology makes it possible to earn money on the internet, it can also be a huge distraction from earning money. Howe many times do you check your email every day? Are you constantly texting friends and family or checking in on Facebook? These activities probably do not earn money or enrich your life in any way, so put them on the back burner when you are trying to work.
  5. Take action. It’s easy to let the planning stages take too long, and it feels safer as well. After all, you can plan endlessly, feel like you are accomplishing something, and still be taking no risks. Do not fall into this trap; plan only as much as you need to and then take the leap. Take action as early as it is possible. Be a doer, not a planner.
  6. Schedule important tasks. Let’s face it: if you simply wait to get the time to do something, it will probably never happen! Time seems to fill itself. If an important, profit-earning task needs to be completed, schedule it into your day so you will definitely have time for it. 

Sometimes good time management can be the difference between failure and success. Learning to manage your time wisely will make you more profitable and also leave you with time for a better work-life balance.