“Time is money” – Ben Franklin
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I am an absolute nut about time management.
There are so many things in life and business that you cannot control that the one item you must utilize is time. On the other hand, perhaps it is better to state that we must attempt to influence it with a willingness to fail and a healthy mantra of “progress not perfection” since time cannot really be tamed, managed or defeated. It always wins.
The system that I personally use is the Franklin Planner and have done so for the last 30 years – see the picture below as evidence of my obsessive nature with this subject. I can literally tell you what I was working on during any given day. It may be a sickness but it’s all mine.
Stacking planners for a move to Texas.
The Franklin Planner system was founded in 1983 by entrepreneur Hyrum W. Smith in the basement of his Utah home. It is a time-management system Smith created and named after Benjamin Franklin, who kept a small notebook for daily observations. In 1997, Franklin Covey company was founded as a global consulting and training company specializing in organizational performance improvement. The company represented a merger between Franklin Quest and the Covey Leadership Center, which was founded by Stephen R. Covey, the author of the best-selling book The 7 Habits of Highly Effective People. Franklin Covey now operates in over 160 countries. It is a system that I highly recommend but there are any number of great systems. The point is to have one, use it daily and be consistent.
There only are a set number of hours in a day and a lot of demands on personal time. A hectic schedule quickly can get the better of anyone. It is even more important when going through uncertain times like we are now to establish some sense of control.
According to Starling Bank’s “2020 Make Business Simple” report, small business owners and solo entrepreneurs spend up to 31 percent of their weekly time sorting finances and doing other administrative work. Learning early on how to more effectively allot time for tasks is one of the key skills a person can learn.
Here are some creative ideas to consider:
There’s only so much the average person can remember. Putting events into a calendar will provide visual cues as to what needs to be done and when. It also may help illustrate a pattern of when blocks of time are busier and when there are free moments so that tasks can be redistributed, serving as a time audit of sorts. Reminder functions are a great way to stay on top of things and avoid feeling stressed and rushed when responsibilities are accidentally overlooked.
Learn about the Eisenhower Matrix
The Eisenhower Matrix is a tool that helps people distinguish between tasks that are important, not important, urgent, and not urgent. The matrix is broken down into quadrants that correspond with the 4Ds of execution: do, defer, delegate, and delete. This matrix can help a person prioritize tasks relevant to their goals.
Tackle difficult things first
Leadership expert Brian Tracy developed a productivity method called Eat That Frog. It is good for those who have trouble avoiding distractions or people who tend to procrastinate. The gist is tackling the most complicated or dreaded task first, and only moving on to other things once you’ve “eaten that frog.”
Use the right tools
Certain tools work for some and not for others. While one person may like making paper to-do lists, another may prefer digital devices. Identifying the resources that help a person manage time better can be an asset.
Limit time spent on each task
According to Parkinson’s Law, “work expands to fill the time allotted to complete it.” People should set reasonable limits on how long to give each task; otherwise, they may spend more time than is necessary.
Multitasking is not the answer
Productivity is reduced when individuals multitask, says the American Psychological Association. Sticking to one job at a time draws full attention on that job and may help it get done more quickly and to a better level.
Time management is a skill like any other that can be learned with practice and offers the benefits of work /life balance, personal direction and a sense of control.
I hope you enjoy this week’s edition and have a wonderfully productive week.
- To review other editions of our newsletter please see our website: GlobalCommonCents.com
- For more about my personal wonderings please see my blog: JeffCorbett.com
