Problem is, typical Internet entrepreneur is in a race against time: Often snowed under with many things to do, trying to achieve maximum results (income) within precious, very limited time available.

Especially if you're holding down a full-time job while trying to launch or expand your Internet business in your spare hours, you've got precious little time to waste.

If care isn't exercised in way we spend time online, our personal and family life can suffer, not to mention bad financial consequences.

To add to that pressure, family members may resent amount of time spent on our venture, versus limited income it may initially earn.

As author of an audio program on time management, I'm going to share with you some proven time management tips, which have been adapted to running a business online. I can't promise you more than 24 hours in your day, but I'll share practical tips to help you work smarter and more profitably online - instead of longer or harder.

Two primary keys to making most of time we spend online are:

A) Being selective, and

B) Staying focused.

We must be SELECTIVE, because there are an infinite number of things we can spend our online time on, which will not yield productive results.

We must stay FOCUSED, because any of an infinite number of things can easily distract us from getting more important things done.

That brings us to first step of effective online time management...

1) Set Goals

If you don't know what your final destination is, how can you ever take action toward getting there? Hence, need to set goals.

The goals you set for your online business will vary, based on which stage you're at and which direction you want to go from there. It helps to write your goals down and periodically review them. Many feel that this better enables your subconscious mind to help you work toward your goals.

2) Keep and Use a Prioritized To-Do List

Keeping lists may seem simplistic, but most productive top-achievers are typically methodical users of To-Do lists.

Be sure to rank each task on your To-Do lists by priority, such as high, medium or low. As you tackle items on your list, always tackle highest priority tasks first, and those of lower priority as time allows. Obviously, your highest priority tasks will correspond with achievement of your highest priority goals.

I've found that a 3-ring binder kept near my computer is a good place for organizing To-Do lists, project notes, and other frequently used online information, within easy fingertip reach.

One lesson many business people learn very early on is that you can't make it on your own. You don't have knowledge or time to do everything that needs to be done in your business or to meet all of your customer's needs. You can compensate for that by building relationships with people who can provide you with skills and services you need and a place for you to refer your clients. So, for example, even if you can't do your clients taxes, you can refer them to a good CPA.

In coaching we call this exercise of identifying other people who can be resources for your business "creating a Team 100 list." It's a very simple process; select 100 other professionals you want to do business with and you would like to be able to refer your clients to. This is your Dream Team. Start building relationships with these people.

When creating your Dream Team, take a holistic approach. Include individuals from many different professions to cover every facet of your life.

1. Business Relationships. Running a business or managing your career is a lot easier when you have a strong support team. This includes a coach, writer, computer consultant, graphic design artist, etc.

2. Professional advice. The best advice does not come from your mother, best friend, or co-workers. It comes from trained professionals who specialize. This includes an attorney, realtor, banker, insurance agent, etc.