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* If you were paying you to waste time on trivia rather than planning your next quarters sales plan – would you think you were getting good value for money? * If you were paying you to sit in numerous unproductive meetings would you feel that was a worthwhile contribution? I suspect that the answer to those questions is no and yet, in effect, that’s exactly what you are doing. By choosing to adopt poor time management habits and poorly prioritise what’s important you are in effect creating a poor return on investment for your self your organisation or you own business. Now go One Step Further and ask your self “If I was paying me by the hour, day or on specific results what would I pay myself?” It might be $30/hour, $800/week or $150000/year depending on your skill, knowledge and experience and in what role or business you are in. Let’s say for example you are a manager earning $80000/year. Let’s assume you work 250 x 8 hour days a year, which means you are earning the equivalent of $40/hour * For every hour you spend trawling through your emails the cost is $40 * For every ½ day you spend catching up on your personal administration because you are poorly organised the cost is $160 * For every day you sit in unproductive meetings the cost is $320 Now imagine that came out of YOUR paycheck. Would that refocus your priorities? Probably. You can see now how your poor time management could be costing you dearly and that’s only in financial terms. You are probably paying the price physically and emotionally for your lack of prioritisation of what’s important versus what’s urgent and unimportant. But look how easily you can make impactful changes Using the same average work pattern look how much extra time you could have if… * You save 5 minutes a day; you will increase your productivity by 2.6 full days. * You save 30 minutes a day; you will increase your productivity by 15.63 full days. * You save one hour a day; you will increase your productivity by 31.25 full days. Suddenly you have “created more time” with the opportunity to achieve more results. You can see that even small changes can make a huge difference. By saving that time or by choosing to reallocate that time to higher priority work you will achieve better results, reach the targets you have been set and help others to do the same. By changing your costly habits you might also help others change theirs.
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More Articles:1. Quick Tip - Effective Meetings Have a Complete Agenda By Steve Kaye Most agendas for a meeting look like this.* Budget* Payroll* Staff* Sales* VutszxtnSome people would tell me, "That's a perfectly good agenda. I know what all of those things mean, except, uh, 'vutszxtn'." The point is, vutszxtn means as much to you as the other terms mean to the other participants. For example, does budget mean increase the budget? Plan a budget? Report on the budget? Reduce the budget? Complain about the budget? Make fun of the budget? Or what?An agenda like the one abov… 2. Let's Flourish and Prosper! By Michael Priv Some say that in business as in sex: if it is good, it’s great and if it is bad it’s still pretty good. This does not happen to be true. If business is bad, it can get very bad. There are personnel problems, production expenses, overhead, laws, taxes, fines. Faulty financial decisions, inability to accurately evaluate the situation and quickly resolve problems all lead to an extremely high mortality rate among new business: up to 95% do not survive past their first 12 months.Modern business ma… 3. The Challenges of Human Resource Management By Alvin Chan IntroductionThe role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. Organizations that do not put their emphasis on attracting and retaining talents may find themselves in dire consequences, as their competitors may be outplaying them in the strategic employment of their human resources.With the increase in competition, locally or gl… 4. Communicating Effectively In The Workplace: Four Vital Steps By Azriel Winnett Ineffective communication is a major, yet avoidable, obstacle to business productivity. And yes, it can be avoided. Given the will, the bleakest of situations can be turned around for the better. Management must face squarely the challenge of formulating strategies to encourage personnel to communicate effectively. On the other hand, managers themselves have to set the example. They need to realize that successful communication is no one-way process. On the contrary, repricocity … |
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