Where does the time go?

Written by Richard Baldwyn ATT, CTA
February 9, 2016

One of the common complaints I hear from business owners is that they don't have enough time in the day for everything they have to do.

And yet when I question them a little more it seems that there's a common underlying problem.

Interruptions.

Interruptions from staff, interruptions from customers, interruptions from suppliers - you get the picture.  (And we haven't even mentioned cold calling - we get about 5 calls a week from printer cartridge salesmen - particularly annoying as we're paperless!).

And those interruptions get even worse when you have your email on all the time.  Who hasn't been tempted to sneak a peak at their inbox - and then their attention is diverted by that new email.

And don't think that each of these interruptions just takes 5 minutes.  You can double or treble that interruption when you include the time you need to spend getting your mind re-focussed on that task you were initially working on.

So I've got a couple of quick suggestions:

  • Only switch your email on two or three times a day.  It will be hard to begin with but you'll soon get the hang of it (it's commonly suggested that it takes 21 days to form a new habit - so stick with it!).
  • Set aside at least 30 minutes a day when you can't be contacted - by anyone!  And spend that time working 'on' your business rather than 'in' your business.

Remember, unless you're a doctor or a surgeon, what you do is not life threatening and your business won't fail if you can't be reached for a few hours.

And I believe if you make these two simple changes to your business, you'll be amazed at the difference it makes.

About the author

Richard Baldwyn ATT CTA

Richard is Co-Founder of The Friendly Accountants and has more than 30 years' experience in tax, including 3 years spent inside HMRC before moving into private practice. He advises individuals and owner-managed businesses on a wide range of UK tax issues, including the tax challenges created by digital platforms and online business models.

Richard has specialised in UK crypto taxation since 2016 and was one of the first UK tax advisers to write publicly about the taxation of cryptoassets. His work includes advising individuals, investors, founders and owner-managed businesses on complex crypto transactions, HMRC disclosures and enquiries, DeFi, NFTs and the tax issues facing businesses operating with digital assets.

He also has first-hand experience of cryptoassets and Web3 projects, combining practical knowledge of how crypto is used with wider UK tax experience.

He particularly enjoys making complex tax transactions easier to understand and helping clients apply tax rules to transactions and technologies that do not always fit neatly within traditional tax categories. More about Richard and the TFA team

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