6 Steps for Doubling Your Income & Time Off | Time Management

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CoinsThe key for making more money while claiming more time off is learning essential time management skills. Think about how you spend your day. Studies have shown that as much as 80% of an average workday is spent with activities that contribute very little to the employee’s greater performance goals. Even more shocking, as much as 50% of an average day is being wasted with socializing, personal calls or text messages, social media, and other personal business.

Time management centers around your ability to maximize productivity during your day. Here are the six steps you need to start taking to double your income and your time off.

 

Step 1: Identify High Value Tasks

Your current to-do list may be deceiving you. The 80/20 Rule states that 20% of your tasks contribute to 80% or more of your valuable output. That means that more than a quarter of the work that’s causing your stress is doing very little to drive your ultimate success.

Take some time to identify the top tasks that contribute the greatest value to your work. Discuss it with your boss and coworkers to make sure you understand (with absolute clarity) what you can do to make the greatest contribution in your role.

Step 2: Identify and Delegate Routine Tasks

Once you know your high-value tasks, look at the rest of the items that take up your time. Delegate routine and low-value tasks to other team members.

If you find this challenging, think about it from a cost perspective. Calculate your hourly rate: annual salary / 52 weeks in a year / 40 hours in a week. Then consider whether it’s fiscally responsible to be charging your company that hourly rate for those low-value tasks.

Step 3: Implement the Grand Slam Formula

One of the greatest tools for time management is the Grand “SLAM” Formula. This technique provides insight into how you use your time and guides strategies for optimizing your productivity – through Simplification, Leverage, Acceleration, and Multiplication.

Step 4: Commit to Prioritizing One Day Off

Getting absorbed in work and allowing your personal life to take a back seat is a choice – as hard as that may be to accept. Make the decision to take at least one day each week when you spend time exclusively with your family or on your personal pursuits. Refuse to do anything associated with work. At first, this may feel indulgent, but the truth is that it’s essential for boosting your productivity because it allows your brain to recharge and become more focused at work.

Step 5: Expand Your Commitment

Once that becomes comfortable, expand your commitment to placing a high value on your personal time. Take two days off – each and every week. Then, start to schedule three day weekends every quarter. Time management means reorganizing your life so that time-off becomes a major priority.

Step 6: Improve Your Awareness

Throughout this process, you’ll start to gain more awareness of your time management decisions. Don’t let this stop once you’ve achieved this level. Continue to be conscious of yourself and your actions. Think about the impact of tasks before you begin or agree to take on new projects. Your new habits will inevitably lead to greater levels of productivity and performance.

Remember – The more you get done during work hours, the more free-time you’ll have. The more free-time you have, the more focused you’ll be. The more focused you are, the more productive you’ll be at work. It’s a cycle that leads to increased profits and greater work/life balance.

 

About FocalPoint Canada:

At FocalPoint Canada, we guide our clients in overcoming challenges and leveraging opportunities with proven processes and methodologies that have been used by thousands of successful businesses over the past two decades. Our FocalPoint business coaches use their expertise to teach our time-tested methods through individual coaching, group sessions, or trainings and workshops.

It all starts with a conversation, click here to get started.

 

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