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Bethenny Frankel's Success Starts With Time Management

By Jason Feifer, Entrepreneur Magazine Staff

Like most successful entrepreneurs, Bethenny Frankel is super busy building multimillion-dollar brands, starring in TV shows, and making deals. She used to think that she needed to clone herself, to find someone who thinks like her to help her with all the work. But she has come to realize that this is near impossible. So, she has developed her own unique approach to time management.

According to Parkinson’s Law, one of the greatest theories about work is that “Work expands to fill the time allowed.” That is, a task will take a long time if you have a lot of time to finish a task, but if you have a little time, you somehow plow through it.

Frankel believes that it is critical to look at the big picture and decide what is important… and what is not. As every business owner knows, there are endless tasks and ideas to pursue. No one can do everything… so which do you do? Frankel suggests that you pick the ones that have the greatest payoff and put similar activities together in buckets. Note that it important that the exact type of payoff be determined by the individual entrepreneur. Then, stack and complete similar activities together to maximize ancillary time. For example, put tasks that use the same resources together and do them when the resources are easily available.

Discard all the activities that you do not regard as important and either never do them or save them when you have some free time. It is also important to remember to move fast to empty those important buckets, keeping in mind the truth of Parkinson’s Law.

As a last note, “I say no an awful lot,” Frankel says.

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