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The Time Management Index

Time is wasted in a thousand different places in your day and there is no magic silver bullet that can change things in a single bound. There are a number of areas that have to be addressed and it is an ongoing process that needs to be continually repeated as inappropriate things creep back repeatedly into your day.

The easiest starting point is to identify tasks that you perform that are below your pay grade. The most effective way to do this exercise is to keep a log for as long as you can bear (but at least a week) of all the things you do. If you cannot bear to do it this way, then write down a list off the top of your head and then think repeatedly throughout your day whether the task you are performing is one that you should be performing…whether it is below your pay grade.

When you have a list of the major components of how you spend your day add four columns to the right hand side as follows, each on a scale of 1 to 10 where 1 is unimportant and 10 is extremely important:

· Importance. Use whatever criteria you deem best to identify the importance level.

· The pay code for each activity. To express this on the scale of 1 to 10 have $15/hour as 1 and increase ratably to $350+/hour for 10.

· Ability to delegate. The harder it is to delegate and the more reluctant you are to let it go the higher the score you should give it.

· Total. Add the scores from the other three columns.

Once you have done this sort by the total column and start to evaluate the task with the lowest score and see whether it is something that can easily be removed from your day.

 

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Did you know ?

Entrepreneurs wear so many of the hats in their business that many of the tasks they carry out are at a level way below the real value of their time. Are you working below your pay grade by not handing off menial tasks that should be done by others?