As business owners, we must constantly look for areas where we can economize and become more efficient with our time and resources. While technological advances have made arduous, routine tasks a matter of keystrokes, the pace of life has somehow seemed to increase and rather than our lives and businesses becoming easier and freer, we are now busier than ever.

With the overwhelming number of choice and techno-toys now available to us, we must be very careful to remain focused on the bottom line. We need not only to look at capital expenditures, but also at time expenditures.

Using this simple time management formula, I have increased my own business revenues by 50% over the past three months.

1. Make a list of everything you need to accomplish in your business.

2. Using 3x5 cards or quarter sheets of paper, write down one task or project onto each.

3. For each task or project, list each and every step you can think of that needs to be accomplished to complete the task.

4. Prioritize the cards as follows:

a. Do the tasks that directly produce income.

b. Do the tasks that will lead to producing income.

c. Do the tasks that increase your ability to provide a service. (Education)

d. Anything that does not or will not lead directly to increased business income is a waste of your time and resources. Discard it.

Doing this exercise will take an hour or two of your time, but it will streamline your business activities. And, a streamlined business means a better bottom-line.