Managing Your Time: Hey Big Spender! Part 3 of 3

In my previous blog on Managing Your Time, I urged you to look at “time” as you do “money.” I invited you to assign a dollar amount to each work task in your day. By the end of the day, ideally, if you did everything on the list, you’d figuratively earn a day’s pay. If you slacked off instead, it would reflect in your bottom line. In this blog I’m suggesting you think of every minute of your workday as a dollar. Periodically throughout the day, ask yourself: Am I wasting or saving time right now?

Time is more precious than money. There are many similarities: they are limited, have value, and are measurable. If you viewed your time this way, you might be shocked to see how much better you are with your money than you are with your time. The difference between the two is that you can earn money back, but not time.

Consider viewing time spent playing video games, surfing social media, consenting to interruptions, and worrying as “throwing time” out the window. If you “throw out” an average of four hours a day ( 240 minutes) with every minute at $1, it’s $240 lost a day, x 7 days is $1680 a week out the window! Would you throw $1680 out the window every week? Hell, no! If you’re conservative with money, thinking of “time as money” is a great way to think twice before you act.

Need some extraordinary ways to manage time? Let me know. Rebecca@MindfulCommunication.com

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Managing Your Time: What is Your Day Worth? Part 2 of 3

If money drives you, think about placing a dollar amount on your day equal to the effort and efficiency you put forth. This is one of my clients’ favorite strategies for enhancing productivity and assessing their performance at day’s end.

For example, imagine a day where you put forth your 100% personal best. What dollar amount might you tag to a day like that? $1000, $5000, $10,000? Let’s say $5000.  A $5000 day  assumes that every task on your list gets done, done well and delivered. The next step is to assign, according to the time needed per task, complexity and priority, a dollar amount where the maximum total for the day = $5000. For example:

  • refining a clear description of your business model = $500
  • making 5 cold calls to prospects = $1000
  • clearing your desk and planning your schedule for the next day = $1000
  • sending out the three proposals you’ve been putting off = $2500

Therefore, accomplishing all these tasks would earn you your max for the day ($5000). Consider attaching greater dollar amounts to the most undesirable, but essential tasks on your list.

At day’s end ask yourself : What did I pay myself today? What did I earn? $500, $2000? $4500? Where did I jip myself and how can make more tomorrow?  You can also use a self-rating scale from 1 (total slacking) to 10 (personal best) and resolve the next day to beat the previous day’s rating. If you easily made your quota, perhaps your allotments per task are too generous, or you can fit more into your day and pay yourself more.

Let me know how this works for you! Need help being productive in not so ordinary ways? Contact me at Rebecca@MindfulCommunication.com.   

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