How Much Is Poor Time Management Costing You?
by
Beverley Hamilton
* If you were paying you to prioritize emails over coaching your team, would you feel you were getting a good return on your investment?
* 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 prioritize what’s important you are in effect creating a poor return on investment for yourself, your organization, or your own business.
Now go one step further and ask yourself
“If I was paying me by the hour, day or on specific results what would I pay myself?” |
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It might be $30/hour, $800/week or $150,000/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 $80,000/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 organized 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. |
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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 prioritization 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.
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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.
About the Author
Beverley Hamilton is the author of Take Control of Your Time: 7 Straight Shooter Strategies for Success - http://www.takecontrolofyourtime.com. To learn more, subscribe to Quickstart her free ezine and get more tips, tools and articles visit at http://www.onestepfurther.co.uk.
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