"Good luck on your venture!" You hear these words very often when you tell the close people to you that you are currently running a business. Sounds simple, right? However, for business owners, of course these words are prayers that will always provide motivation to continue to grow.

Moreover, regardless of what type of business you run, there will always be challenges or unexpected things. Therefore, you also have to have an unyielding mentality and make your business sustainable. To make it happen, you have to do some introspection about how you manage your business. Well, if you are having trouble running a business, manage your priorities in these 5 ways!

What is meant by priority management?

So, priority management is a way for someone to focus on the time and resources she/he has so that he can carry out the work, task, or project given. When people set their priorities, they will have a positive impact on the project, the people around them, and their experience in the long run. Of course, to have good priority management, you must also be able to manage the time you have.

5 Ways to Manage Priorities

In addition to focusing on time, you also have to adjust your resources, schedule, and the things you need to do if you want to manage priorities. So, what are the things we need to pay attention to? Here’s the explanation!

1. Understand the company’s goals

So that you can do priority management, you first need to understand what the goals of the company or business you are establishing are. After that, then you can manage
your business priorities. Because regardless of how experienced and productive you are, you won’t be able to set priorities properly if you don’t understand what’s important to your business.

2. Create a teamwork culture in line with the company’s vision

After you understand very well what the company’s vision is, then now your job is to direct the staff so that their performance is in line with the company’s vision. So, how? You need to introduce and ensure that every team member understands the company’s strategic plan. Therefore, you also need to communicate regularly and clearly.

3. Create business operational standards

In order for every business affair to run effectively, you must first apply the company’s Standard Operating Procedures (SOP). That way, the whole team can carry out their tasks without wasting time. When there is a new project, they can understand easily, where they should start the work.

4. Motivate team members to prioritize

Ever heard of Stephen Covey’s 4 priority quadrants? So, when carrying out tasks, you and your team must divide them into four types of priority scales. The four are:

1. important and urgent
2. important and not urgent
3. unimportant and urgent
4. not important and not urgent

Make sure you and your team always do the tasks and jobs that are in the first quadrant!

5. Make an evaluation

Once you determine the goals within a team and know which ones to prioritize, then team performance can begin. As a leader, make sure you always monitor developments within a team and provide feedback and adjustments if needed. For example, when your team is still having trouble entering sales reports manually, you can switch to Cashlez. So, sales reports will be recorded automatically and can be monitored on the Cashlez Reporting dashboard!

Priority management not only allows you to increase business effectiveness, but also learns to deal with various unexpected things that can arise. And remember, every business actor will of course set her/his priorities in different ways. What is suitable for other business actors, may not be suitable for you. So, first understand the characteristics of your business!