For years, Time Management has been the means for business owners to ‘find’ more time in their day so that they can do more tasks. Time management was to show you how to accomplish a great return on your time through increased organization and focusing. The result was to decrease the amount of time you had to work to achieve the same results.
We have since then learned that Time Management doesn’t work for achieving increased business success or for gaining more business or personal time. No matter how organized or focused a person becomes, the amount of time a person can work is limited. The hours in each day will never increase. Your productivity level and thus your business and personal success will plateau eventually, no matter how well you implement Time Management techniques.
On the other hand, using the Time Smart techniques allows you to use your time more wisely by using it only on the highest value returns; you can increase your income while decreasing your work time.
The key to Time Smart is for any business to ask: how can I simultaneously earn more income and free up more time? What tasks will give you the biggest return for your time? Once you know the answer to these questions and take action to implement the Time Smart techniques, much larger results are available than Time Management could ever create.
Implementing Time Smart means that you have to separate your tasks into 4 basic categories:
- Business activities, customers, or products that require a great deal of time but generate little gain in free time, income or other benefits.
- Business activities, customers, or products that require a great deal of time but generate either more free time, more income or increase other benefits.
- Business activities, customers, or products that don’t require much time but the returns are very little too.
- Business activities, customers, or products that don’t require much time but through the limited investment of time you have put into them; you receive a return that is greater than your investment.
To start achieving Time Smart in your business, focus on categories #2 and #4. Start by looking at your daily tasks, customers, and products to see which category they fall into and then develop a strategy on how to diminish, outsource, or delete categories #1 and #3 tasks in your business and personal life.
Other Time Smart tactics include targeting the customers who can pay you and for you to charge what your services are worth and your customers are willing to pay for.
Remember too, you should only be doing tasks yourself that are equal the dollar value of your time, otherwise delegate them.
Network and develop relationships with depth rather than ‘fluff’. A few relationships with depth are much more valuable than numerous shallow ones.
Remember to show your appreciation for your relationships, which can turn into partnerships, and for current and past customers and followers. Create a plan on how often you will connect with your network of relationships but also with your loyal customers and followers.
The results of implementing Time Smart are that you will be more productive with your main work tasks, your income will increase and you may have more free time, or your income may stay the same but you will have more free time. Some side benefits are less stress, overwhelm and likely a more cohesive and satisfying business and personal lifestyle.