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Time is A Key Success Metric
Although time is the primary measure of success, I am always amazed at how many managers fail to do this. Time is indeed a precious and limited commodity, and professionals who manage it wisely will achieve the best results. Show me a manager who doesn’t make the most of time and I’ll show you a manager who is likely to be replaced by one who can. In today’s blog post, I explore the value of time.
The right understanding of how to use your time directly affects your income… Let me give you a personal example. I had my first six figure year when I was 24 (stop laughing…I know it was a long time ago) and I still remember the formula that got me to that figure. $100,000 a year equated to $8,333 a month, $2,083 a week, $416 a day, and $52 an hour. I took those metrics and then applied them to my business development model to determine how many calls on average I had to make to get an appointment, how many presentations I had to make to get a new client, and then weighted that against my average. the client earned in terms of revenue to determine what my production resistance was. I simply broke down my earning goal into bite size metrics and used my time accordingly. It was understanding how to use the time that made the difference, and that hasn’t changed over the years.
Whether you’re a sales person, a professional advisor, an entrepreneur, or a CEO, you only have 24 hours in a day, which consists of 1,440 minutes and roughly 86,400 seconds. If you want to earn more, you need to get more out of the time you have. I earn significantly more today than I did as a young professional, but I actually work fewer hours because I’ve learned to use my time. So, my question is this… How well are you leveraging your 86,400 seconds?
Have you ever heard someone say that they wish there was more time in the day? Well, the secret is that you can actually increase the time in the day if you know how. Some people only use part of a full day, while others use the whole day, and those who are the most productive use multiple times a day… How many days, you ask? In my world, there are much more than 24 hours in a day… Through effective use of personal time, personnel, technology, outsourcing of different time zones, increasing the quality of the clientele served, ensuring a HUGE offer for customers. return on investment and various other factors I estimate that I can average about 12 work days into a 24 hour period, rarely working more than an average work week personally.
In two previous posts titled: “How Productive Are You?” and “The Power of Focus” I gave an overview of how to get more out of your day. The first step is to understand that time itself is the main measure of success. You can manage your time or allow time to manage you. Once you learn how to manage your time, you can reach a point where you can start using your time in multiple ways. The first step in learning how to manage your time is to maximize your personal time by avoiding the most common time wasters in the workplace. According to Swingline, the following items represent the top 10 time wasters:
1. Shifting priorities;
2. Telephone interruptions;
3. Lack of direction;
4. Trying too hard;
5. Drop-in visitors;
6. Ineffective delegation;
7. Lack of organization;
9. Inability to say “No” and;
Time can be your best friend or your worst nightmare. Leaders who understand how to use time to their advantage do great things, and those who let time slip through their fingers do not. The goal of the game is to learn how to earn more through leverage while reducing your personal time investment.
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