Better Business: A New Year, A New Approach – Brett Davidson on time management

by | Dec 12, 2017

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Are you too busy to be effective? As you consider your strategic planning for 2018, Brett Davidson, of FP Advance, suggests that now is a great time to take a more disciplined approach to getting things done. Check out these five common time management mistakes that many of us are guilty of making and see how your effectiveness can be transformed.

Do you plan your day first thing every morning, or do you just jump straight in and answer a few emails?

If you do jump straight in I’m going to suggest that you could be way more productive than you currently are, so read on.

 
 

In the past I knew I needed to plan my day, but still failed to do it. I’ll explain why later in this article. Nowadays I start every day with a coffee and my daily planner. I’ve learned my lesson.

However, I’ve got an even more valuable tip for you if you are trying to improve your personal productivity. The key step is actually taking your to dos for the day, and entering the time you expect each job to take in your diary or scheduler. This way you can see if tasks are achievable.

Where do I create problems for myself?

There are some shortcuts that I have tried to take (that don’t work). I know that most clients I work with do the same, and it doesn’t work for them either, so take heed. How many of the shortcuts below are you guilty of?

 
 
  1. I don’t enter times in the diary

When I don’t enter the time each task will take in my diary I always seem to get in a pickle.  Why?  Because I can delude myself that it’s all possible; that I can get everything done. The truth is I can’t get it all done and nor can you.

When I take ten minutes to simply plan out the time each task will take, I often spot in the planning phase that I’m being unrealistic. It won’t all fit into the time I’d like to work today. If I’m ok with working until 8pm it all fits, but if I want to stop at 5pm, it doesn’t.

  1. I overreach

I often try to do too much. Now you can laugh this one off and say “Yeah, everyone does this. So what?”.

 
 

By deluding myself that I might get it all done, I am avoiding the real issue; that I probably have too much on my plate. More on this in a minute. Lying to myself is never a good thing. Moving forward in one’s business requires total honesty.

  1. I don’t allow time for a proper lunch break

Sometimes I just omit lunch altogether in my day plan. Big mistake. A person has got to eat in order to concentrate and work at their best. If I try to ram down a quick sandwich on the fly it’s never enjoyable, and it still takes 20-30 minutes minimum by the time I nip out to get it and eat it.

  1. I don’t allow some down time between tasks

There needs to be some down time between jobs for a few reasons:

a.) It can take five or ten minutes to regroup and to mentally switch from one job to the next. Not in every case, but taking that time just to have a break or a coffee is useful and enjoyable.

b.) Sometimes my team need a response to something, and I can do that in these in-between times. If I plan my time to the second, it might work for me, but not for my team.

c.) Occasionally a task overruns the time I allowed for it, and so some slack in the timings lets me recover that easily and without any stress.

  1. I don’t allow a realistic (and then some) time for each task

I often used to put in timings for each task and still run into problems.  Why?  Because I entered the amount of time each task would take if it all went perfectly, I was on fire, and there was not one distraction.

Sadly, that’s not the real world, and so often things would implode. The minute I start thinking I might be able to shave five minutes off this job, or steal ten minutes from that one to do another one, I’m in real trouble.

Facing the truth

Why would I do the things I’ve listed above? I’m not an idiot.

The only conclusion I can come to is that it’s a form of denial or delusion, and I see it in almost every single one of my clients.

What’s really behind all of this is that, in the past, I just had too much on my plate. With too much on your plate there are decisions that need to be made:

Work out what’s important – Probably, something has to go. You can’t do it all. However, this now requires you to make choices about what’s most important to get you to your objectives.

Most business owners don’t ever make these tough choices consciously. They let disorganisation make the choice for them, and it’s a really poor way to do it. You can go for months or years at a time wondering why you seem to be chasing your tail, and not doing the things you know you should do to succeed.

Build a team and delegate – Alternatively you could get more support in place, so that you can focus on the things that only you can do. The rest can be delegated to other members of your support team.

The test here is easy enough to work through. If you can afford to hire more support then just do it. If you are really tight for cash you might want to let go of the non-essential tasks by making conscious choices as I outlined above.

The most important thing is to stop the delusion, and that all comes from one simple step; doing the planning at the beginning of every day.

Planning for success

Here are the key takeaways:

  • It’s the planning part of the day that is critical – If it won’t work on paper now, right at the start of my day, it’s not going to work as my day heats up.
  • Plan the day well and it’s more fun – with time off for a lunch break and some free time in between, everything not only gets done, but it gets done in a fun and enjoyable way. I can’t describe what a difference that makes to my journey. And remember, success is a journey, not a destination.
  • Stop deluding yourself – get planning your day properly by entering the time each task will take into your diary at the start of each day.
  • If you can’t plan your day effectively and honestly yourself, get your Personal Assistant or an organised team member to assist you – Doing this with another person can stop you lying to yourself, and can dramatically improve your productivity and quality of life.

Business and personal success doesn’t happen by accident. If you can become a master of planning you can achieve anything you set your mind to. Here’s to making it happen and making your 2018 a very happy new year!

About Brett Davidson 

Brett is the Founder of FP Advance, the boutique consulting firm that helps financial planning professionals to advise better and live better.

He is recognised as one of the leading consultants to financial advisers in the UK. You can follow Brett online and via social media:

Website: www.fpadvance.com

Twitter: @brettdavidson

LinkedIn: http://www.linkedin.com/in/davidsonbrett

Facebook: www.facebook.com/FPAdvanceLtd

 

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