Everyone has the same 24 hours in a day and 168 hours in a week. So, why do some CEOs, CFOs, managers or employees accomplish more in that time than others? How are some companies able to compete in multiple markets, develop new products and forge into growth markets while similar companies with similar capabilities are not? How are some companies able to achieve more with a smaller workforce? How are some business owners able to take vacations while others work 90 hours a week every week? The answer to all of these questions is the same: Time management and delegation.
It is imperative to block out your time to maximize productivity. The three blocks of time to document are:
- Organization / Planning / Training / Preparing / System Development
- Days or Time Off
Time Management and Delegation
Time is one of the most valuable resources a person or company has and can be easily underutilized or wasted. If you asked most people if they make the most productive use of their time on the job, they would answer, “yes.” If also asked if they need time management training, they would answer, “no.”
Most people judge time management by how busy they are: if they’re busy they don’t need it and they’re not busy they don’t need it. Yet, unless there is a record of how time is spent, there is really no way of knowing if the best use was made of the time. With corporate advancement, the management of time becomes more vital due to the increased responsibilities and management of people. Effective time management is more than taking control of your work day; it’s a way to gain time and efficiency by working on the most important tasks every day.
The first step in taking control of your work day is to complete a Daily Time Log of how you spend your time for a month. To harness the power of time management your key personnel should also track their time with a Daily Time Log for a month. These logs will give you a true picture of how effectively time is being managed and will increase the efficiency of the company.
Once you have a month’s record of how you spent your time you can then decide which tasks can be eliminated, delegated or planned for in advance.
For more help on time management, check out our blog posts. Part 2 outlines how to use a calendar system: