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Turning Time In To Money - What You Need To Do Now

Author: Allison Stevens

Time Management

"Time = Money" - You have heard this phrase over and over again. But how do you use time management techniques to actually turn time in "to" money - now that is the question!

If you work for someone else and your time is not totally under your control - you will relate to this.

If you work for yourself, working at your own pace, and you are a constant slave to deadlines and other important deliverables set by your stakeholders and/or the demands of your customers - you will relate to this.

Success is enjoyed most by those who are satisfied with their work and continue to do it successfully. The truth is that the biggest roadblocks to professional success are wasting time and/or simply the bad habit of procrastination. For you to be able to work through these impediments, you must begin your work each day with a clearly defined time management plan. You can do so if you:

PRIORITIZE

Developing the skill of "wise prioritization", aside from getting bigger income potential, gives you results faster. Before you formally start your day, make sure that you have identified all the things that you need to do and estimate how much time each task will take to complete. You must do this at the start of your work day since you'll have a clearer understanding of the pending tasks ahead; thus, giving you a better idea of how well you are pacing towards your goals. With the list of things you need to do, you also need to rank which tasks are more important. Urgent deliverables and those that generate bigger financial returns need to be placed at the top, while long term projects and time consuming endeavors that can still be continued tomorrow are better placed at the bottom of your list. Focus on those tasks that have the greatest possibility of generating cash for either the company you work for or your own business. Why? Because as you consistently apply this approach you will build an operating reserve of cash which will be appreciated by your employer or in your bank account if you are the owner.

SCHEDULE

In addition to wise prioritization, practicing "wise scheduling" is another major time management skill that will help you increase your work productivity and financial cash flow. Simply stated: You will do more with a well-scheduled day. Your revenues start to spike up when you schedule your phone calls, attend meetings, do marketing, check emails and perform all other routine tasks in an orderly fashion every single day. You will be able to successfully pursue multiple tasks at the same time as long as your schedule and workload permits.

You should also consider alternating what you consider as enjoyable tasks with those that bore you. Doing what you consider as non-pleasurable tasks all in the morning equates to weaker satisfaction and lesser work done. That's why you need to mix them up as it guarantees a sense of accomplishment, not only for the satisfying activities, but also for those you initially hated to do. With this, you are consistently converting all of your time into gold throughout the day even though some of those hours were not that enjoyable.

Furthermore, you should work within your to-do list and work schedule. Time management suggests that there will be occasions wherein you need to do task 3 first instead of task 2, because it fits your planned schedule a lot better. Being flexible can give you better results, since you should work based on the demand and not entirely base your activities on the schedule you set a day ago.

If you are working in a place with a large workload and teams utilizing an automated time management system should be a serious consideration. They help you save considerable amount of time and labor scheduling your workday by yourself manually. The extra time you save every day at workplace means you can manage more tasks, ultimately contributing to more earnings; thus, helping you turn your precious time into money.

MAXIMIZE YOUR SPARE TIME

Every now and then you will get some spare time. Be sure to use a portion of your spare time to prepare yourself for busier times. As part of time management, it always pays if you are proactive and you know how to anticipate tasks. So, instead of using your extra time gossiping with your workmates, it is wiser to use it planning for your upcoming tasks. For office workers, spare time can effectively be utilized to do the routine tasks of filing documents or arranging important paperwork that may clutter the desk if piled up for a while. For the self-employed, this can be utilized to make a phone call and negotiate a discount of $100 per month on your company telephone bill. Then, after you spent 27 minutes on the phone saving $1,200 a year, go do your thing and enjoy your spare time!

CONCLUSION

You should start and end your day with an effective time management plan - one that works for you and that is easy to use Using your time management plan to turn time into money requires the prioritization of accomplishing those tasks that generate actual positive cash flow. Thus, it is a two step process: 1. Implement and use a time management plan, and 2. Focus the action items on those tasks that generate actual positive cash flow.

Time Management


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