Personal Time Management: A common mistake in which the COST IS TOO HIGH!
I often think about the opportunity all of us have with our time, and our personal time management. Yes, we are all different, but similar in that we have all been given a limited amount of time and a unique set of circumstances. We are to all use our time the best way that we can!
To me, that is often an overwhelming challenge!
How can we use our time the best?
In this article, we will explore the cost of our own time in the context of our Goals, Dreams, and Purpose – and how we might think about our future.
1. What is the cost of our underutilized time?
We all probably have our dreams, our goals, and our unique purpose. Sometimes in the Stressed Out world these get slowly squeezed out and we go into a response mode. That is probably common to a lot of us.
Stop and think. What are your goals? Maybe you:
- Have a passion or message that you want to get out.
- Want to learn a new skill or career.
- Want to spend more time with your children and / or grandchildren.
- Want to write that book you’ve been thinking about.
- Have a talent, skill, and passion for helping others – but don’t have the time.
- Want to improve your health with how you eat, relax, and exercise.
- Have a faith that burns with a desire for more service.
- Have a project that you want to finish.
- And on and on…fill in yours here!
but they more often than not get squeezed out by the demands of life.
What is the cost of allowing other things to chip away at our priorities?
2. How high is too high?
Let’s look at a few examples to get a feeling of the opportunities available.
We all have this:
Simply put, we all have
- 24 hours in a day
- We sleep around 7 to 8 hours a day
- Leaving us with approximately 16 hours of “Wake Time”
And can estimate what time can be freed up:
On average, when Personal Time Management concepts can free up approximately 25% of that time by removing, transferring, or reducing the needed time for tasks we do.
- That makes 25% of 16 Wake Time hours, or 4 hours per day available if we decide to use the simple Time Management concepts.
- Multipy 4 hours by 7 days a week, and we now have 28 hours a week available for re-targeting toward important stuff!
- That is more than 3-1/2 Eight hour workdays of freed up time available!
Three Examples of the real cost:
1. Cost to your “Write and Publish a book” goal.
One author estimates that to write, edit, and get a book published it took him 736 hours or work. If he/she were to spend just 2 of the 4 hours a day working toward that book, in 368 days, or approximately 1 year the book would be finished!
- A. Keep doing what you are doing today and No book in 1 year.
- B. Decide to act: The book is complete in 1 year!
2. Cost to your “Earnings” goal.
Let’s assume you work 40 hour a week for 50 weeks a year – that totals 200 hour of work.
If we can free up 28 hour a week, that equals 28 times approximately 50 weeks a year, or 1400 hours.
Those 1400 hours are equivalent to 70% of the time spent working. If we put a price on the time:
- 70% of a $20,000 salary is $14,000!
- 70% of a $50,000 salary is $35,000!
- 70% of a $100,000 salary is $70,000!
Calculate your equivalent Salary Opportunity $ by multiplying your annual salary by .70.
- A. Keep doing what you are doing today and No salary $ opportunity.
- B. Decide to act: Have available time valued at 70% of your current income!
- Some use this time to develop more income or a second career which is more flexible. Here is a post addressing that Work from Home opportunity.
3. Cost to your “Time with important relationships and service” goal.
This one is easiest to grasp. If we free up 28 hours a week, we now have available that to strengthen those important relationships or service commitments to others. The impact is huge – Imagine spending 28 hours a week toward others.
That opportunity is possible the greatest!
- A. Keep doing what you are doing today and minimal relationship or service time available for others.
- B. Decide to act: Huge impact on others – the world and your relationships are truly boosted!
3. What did I do to get started utilizing my time more effectively (Personal Time Management)?
Answer: I simply acted:
Sure, for years I have been involved with Time and Process improvement including Personal Time Management around the world, so I know fully well what works and what doesn’t. But it’s not a matter of knowledge, as much as a matter of doing.
I followed 7 steps which are in three phases to quickly map our a new direction:
- Visualize the Possibilities.
- Analyze the Opportunities.
- Realize the Improvements.
Step by step I, and others have charted a new course, by freeing and re-targeting time that I already had.
But we don’t have to continue it. We can do better if we choose. In my experience, only 5 out of every 100 are the achievers who look to better themselves. The other 95 continue through life as they did yesterday. Since you are reading down to the end of this article, you are probably one of the 5 achievers.
Ask yourself these questions:
- Is my price too high not to do something about my time? (When I look at the little girl and the duck, I am inspired again!)
- Am I using my time the best way that I can – for my unique situation?
Above all DON’T “DO NOTHING” – THE COST IS SIMPLY TOO HIGH!
I hope this information helps you!
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