A recent productivity study from The Alternative Board measured how entrepreneurs spend their workweek, including how they stay productive and where they’re losing time.
Denver, CO (PRUnderground) June 15th, 2017
A new survey from The Alternative Board found that 84% of business owners are clocking over 40 hours a week — and 1 in 10 feel continuously overwhelmed by their workload. According to the survey, the average business owner reports having only 1.5 hours of uninterrupted, high productive time each day,
“The business owners surveyed cite poor time management as the #1 productivity killer for their business (35%) — above poor communication (25%), personal problems (18%) and technology distractions (16%),” notes TAB CMO Jodie Shaw. “Fortunately, the recent survey helped uncover where business owners are losing time and how they can reclaim it.”
Of the business owners surveyed, the majority report spending most of their time on email, though only 9% feel it’s the most important use of their time. A third of those surveyed agreed that the best strategy for improving productivity would be scheduling finite time for responding to email. Following email, business owners report losing considerable time to in-person meetings and phone/video conference calls — yet only 4% of business owners believe those meetings are 100% productive.
“Planning is the best way to reduce hours spent on necessary, yet time-consuming tasks such as email and meetings,” adds Shaw. “Set aside a defined block of time each day for responding to your email and create a thorough agenda/timeline for meetings. These tactics will help cut out the extra minutes that add up to extra hours each day.”
So how do business owners maximize productivity? The large majority (81%) feel most productive in the morning, with 87% preferring to get the most important tasks out of the way first. While the average business owner feels most productive from the office, nearly a third report getting the most work done from their home office.
86% of entrepreneurs believe company culture helps their productivity, and in general believe productivity is equally a reflection of them as leaders (47%) as their employees (46%). In terms of promoting better time management, entrepreneurs believe the best way to improve productivity across their business is better communication (56%).
“Productivity begins from the top down,” says Shaw. “It’s up to you, as a leader, to set the tone for the company and pave the way for improved time management.”
The Alternative Board is an international provider of executive peer advisory boards, with over 3,000 members worldwide. For full survey results, executive summary or to schedule an interview with Jodie Shaw, contact Lynn Maleh at lynn(at)contentfac(dot)com.
About The Alternative Board
The Alternative Board helps forward-thinking business owners grow their businesses, increase profitability and improve their lives by leveraging local business advisory boards, private business coaching and proprietary strategic services.Press Contact
Read full release at PRUnderground.com: 1 in 10 CEOs Feels Continuously Overwhelmed, New Survey from The Alternative Board Shows Why.