You are a shop owner, which means your day is filled with personal tasks, emergencies, phone calls, running the business, handling customer problems, managing people, meeting with salespeople, on and on. Effective time management is vital to your success. Without an effective time management plan, you will end up at the end of the day, feeling as if you did not accomplish anything. You will also never achieve your goals. Wasting time eats away at your ability to remain profitable.