Problem Solver

>>Q: I can't catch up. How can I better manage my time?

"If we had a cultural change in our perspective and would think in terms of 'priority management' instead of 'time management,' we'd already be 10 steps ahead," says Cheryl Lynn Dratler, a certified master career counselor at Resource Innovations.

The biggest problem for most people is designing a system of prioritizing and tackling tasks, and then having the commitment to follow through, she says. "One of my favorite quotes about commitment is that it raises energy to a very high level because it removes all doubt," Dratler says.

Evaluate obstacles that get in the way. "That might be an unplanned meeting, telephone interruptions or someone walking in your office to interrupt, or it might be someone else's priorities. From there you have to troubleshoot ways to get around those barriers," she says.

Some tips:

> Schedule appointments with yourself so your calendar is booked.

> Have only one project on your desk at a time.

> Have a time frame about how long the meeting will last.

> Have three to five bulleted items that serve as an agenda for face-to-face meetings.

"Another technique some people strongly advocate is not opening e-mails in the morning until you organize the day and identify priorities," she says. "This prevents getting lost responding to low-priority e-mails and related tasks without ever touching your first priority."

Check and see if priorities are getting done first, because they consume a great deal of brainpower. "When those are done, it frees up a lot of energy to complete a lot of minor tasks," Dratler says.

Q: I'm thinking about taking on a partner in my business, but I know it can be risky. What are the most important considerations?

A business owner needs to ask a number of important questions when determining whether it is time to bring in a partner, and some have very little to do with their business competency, says Kevin Carmichael, a partner with Quarles & Brady law firm.

"First, the businessperson seeking a prospective partner must ask themselves whether or not they work well with others and can share responsibility and control of the business," he says. If you are unable to release the reins, you should seek employees rather than partners.

A partnership is about sharing to succeed, he says, so ask yourself the following questions:

> What are you willing to share in order to attract a partner to take the business to the next level?

> What perquisites should the partners be jointly entitled to, in return for their relative abilities to generate business, cover costs and produce profit?

> Can the prospective partner cover the anticipated costs and generate the expected profit?

> Can you generate income sufficient to keep the business running if the partner is unable to generate the business?

Carmichael points out that there are no perfect partners. He recommends writing down qualitatively and quantitatively what you expect in a partner. For example, they must:

> Generate X amount in business within two years.

> Generate sales and serve new and existing clients.

> Handle paperwork and cheerfully accept some administrative duties.

> Have cash outside the business to support operations in times of need.

> Be loyal to the business goals and demonstrate a desire to succeed.

Define terms in a clear agreement signed by both parties, says Carmichael. Well-drafted agreements should include contributions, management, allocations and distributions of profits and losses, buyout and termination provisions, and cover procedures for dissolving the relationship. It is best to seek competent legal advice during the process, he says.