Time Management For IFAs - Blog

Oct 09 - Prioritising For Profit

Most of us are tightening our belts and being careful about how and where we spend our money, in the current economic climate.  How many of us are as careful about how and where we spend our time?

Time Management might not seem like a particularly exciting subject but when you think about where you spend your time and what it's actually costing you, it puts the importance of good time habits into perspective.

One of the most relevant quotes I found and use often, is:...

To read more - just register for the free IFA Time Life Newsletter and you'll also receive my free Top Time Tips for you and your business.

TM4D - 12 Step Programme

For all of you who don't have time to read the book!

Step 1 - Click here to order the book - and make an added contribution to Cancer Research by using my link.

Step 2 - When Amazon confirm the order, make a note of the delivery date

Step 3 - Book 10 minutes out in your diary on said delivery date (lunch break or when you finish work).

Step 4 - Book arrives - take the opportunity for a break. Spend 10 minutes (that you've already booked time for) reading the Table of Contents and the Intro - this will take about two to three minutes. Spend the remaining time making a note of which Chapters are most relevant to your immediate needs.

Step 5 - Decide how many Chapters you need/want to read to make the biggest impact. There are 18 chapters in all, two of those are in the Parts of Tens - so shorter and not all may be relevant.

Step 6 - Now set aside 30 minutes in your diary each day (or every other day) for the Chapters you need/want to read. Either at the very beginning of the day, before you get going or at the end of the working day - you might think of relevant points you want to address. Prioritise the most important chapters first.

Step 7 - Read first 'most relevant chapter' - decide on one key action you're going to take or a tip that you can apply from what you've read.

Step 8 - Take action. Apply the tip or take the necessary action as soon as possible.

Step 9 - Next 30 minute slot - read the remainder of the existing chapter or the second 'most relevant chapter' (Rinse and repeat steps 5-7, as necessary). Some chapters are a little longer and may have actions and checklists that you need to complete. Set yourself a target for when you plan to complete the book. (Ch1)

Step 10 - Take the book with you everywhere, so you can put the tip in Ch17 into action and keep reading when you've got a few minutes spare.

Step 11 - Give yourself a pat on the back (Ch10).

Step 12 - If you're having trouble with any of the Steps 1-11 - give me a call.

Time Management For Dummies

Today, the day it's actually published and I finally get a copy in my hand. Well, I have to say - I'm pretty chuffed and had to go and show it off at a local network meeting, despite still having a head full of cold, so not totally able to celebrate.

It's available to order on both Amazon.co.uk and Amazon.com - get your copy now while stocks last! www.clareevans.co.uk/timemanagementfordummies.htm

Early Or Late?

I'm sure most people endeavour to arrive on time - after all we're business professionals and it wouldn't do to turn up late and keep clients or prospective customers waiting but there's so much that can go wrong and things being what they are, it will. I've been ultra-conscious having just written about not being late - it wouldn't do for me to turn up late now would it! So much so that I've been arriving ridiculously early - I'd feel so bad if I did arrive late.

How often have you arrived just in the nick of time? You make it but just by the skin of your teeth, stressed and flustered having negotiated yet another traffic jam on the M25 or every traffic light being against you, slow traffic (especially caravans and tractors) on single lane roads, roadworks and detours.

Plan to arrive early - not just in the nick of time. Planning is good and essential to using your time effectively but when you plan things too closely you don't leave any slack time for when something unexpected comes up. Knowing a route well, gives you a better chance of estimating travel time but also makes it easier to leave things to the last minute, then when you discover they're digging up the road again and the traffic is backed up all along the coast road and you're going to be late. Fortunately, I can walk fast or know a short-cut or am lucky to find a parking space quickly but my 20 minute journey can easily become 40 minutes or longer with road works and traffic thrown into the mix.
- Aim to arrive at least 10 minutes early or 30 minutes if it's a longer journey.
- Get things ready before you leave - don't rush out of the door, grabbing things as you go.
- Leave extra time to allow for delays.
- Catch an earlier bus or train.
- Allow time for parking.
- Phone ahead if you know you're going to be delayed or late.

Better to arrive early rather than late and if you are early - it's not wasted time. Take a book, newspaper or your laptop with you so you can do some work while you wait. I managed to read a whole book on a  recent journey up to London. I left plenty of time to get to the station - as I said, I've been so conscious about arriving early that I was there about 30 minutes before the train was due to leave. I had an hour to read on the train and while I sat waiting for my meeting and although it was a packed late train back home - I'd all but finished the book by the time I got back to Brighton.

If you expect other people to turn up on time for you - make sure you turn up on time for them. Have as much respect for someone else's time as you would expect them to have for yours.

Set Your Office Hours

If you work from home it can be helpful to have a flexible working day to fit in around family and home life but don’t blur the lines between the two.  Create a structure of core hours.

Start work at roughly the same time each day.  By all means take breaks during the day to have some ‘home’ life, or time to get chores done.  But place a time limit around these.  Set a fixed start time and finish time to your working day or your likely to end up working late into the evening – just because there are still things to be done.

Plan your time at the beginning of the week and if you need to take a half day for home based tasks or school commitments – sports day, school play, car servicing etc.  Book this in and plan your work around it.  How many hours do you work in a week?  Spread them out across six days rather than five or work four long days and have three days off.

When working from home you can at least choose the hours you want to work but make sure it’s not getting in the way of the rest of your life.  Working at weekends can be a good time to catch up on things at the end of the week, or spend some time planning for the week ahead.  There’s no reason why you need to stick to 9-5 but make sure that you don’t end up working a 50-60 hour working week.

If your family and friends are complaining that they never see you, take a look at whether you’re really using your time effectively.

How long is your working week?

MPs reckon they work on average 85 hours a week when Parliament is sitting.  How much of that time is spent snoozing in the Chamber or out on boozy lunches I'm not sure (it did include travel/commuting time).  Of course my ears pricked up on hearing this.

They're voting on how much of a pay rise they're going to reward themselves and obviously feel that they deserve a big pay rise because they work such long hours.

Apart from rushing up to the House of Commons and offering them all time management courses ... can you really have a life when you're working an average 80 hours a week?  That's 16 hours a day, so not a lot of time for eating, sleeping and socialising.

We're renowned for working longer hours in the UK than our counterparts in Europe. Do you work longer hours than you would if you were working for someone else because it's your own business or are you happy with the hours you're working.  You chose your hours, you have the lifestyle you want and have plenty of time for family, friends and to enjoy the rest of your life?  Many people who run their own businesses feel that in order to make a success of the business they have to put in long hours in order to make it work.

Even in the corporate world there's an unwritten expectation that if you're only working 9-5, you're not working hard enough.  Eyebrows are raised or tutting occurs if you attempt to leave 'on-time'.  The threat of job cuts and redundancy means that if you  can give the impression that you're working really hard (because obviously if you have to come in at 7.30am and leave at 7.30 every day - you must be) then you'll be so indispensable your name won't be on the list should the worst happen.  Say yes to everything the boss throws at you - of course you can handle it - you'll just stay a couple of hours longer.

It doesn't have to be this way - unless of course you enjoy working 60-80 hours a week (does that include weekends?).

Learn to say No - whether to the boss or to yourself (the boss) is one way to start cutting back.

Plan your time - appropriately and effectively.

Obvious - but how many of us actually do it or are you just reacting to things as they come in - dealing with them on a first come first saved basis or whoever or whatever shouts the loudest?

Get control of your time and you can reduce your hours.

January Newsletter

Business Planning

Every business needs to have an idea of where it's headed and it's purpose. For that reason, you need a Business Plan.

It doesn't have to be a long, detailed business plan, It can be as short or as long as you like and in whatever format you prefer, to capture the essence of your business and what you plan to achieve in the coming year.

Businesses that actually write down their plan with specific goals, objectives, strategies and tasks, are more likely to achieve their goals and be successful.

"If you fail to plan, you plan to fail."

To read more - just register for the free IFA Time Life Newsletter and get Top Time Tips for you and your business.

Easing Back Into Work

If you're easing yourself back into work after a long break over Christmas you might be finding it hard to get focused. You've only got three days this week, so spend a few minutes thinking about what you need to get done in this time.

Don't overload yourself, after all, it's a short week. Write a list, sort it in order of priority with the important things to be done first and then plan when you're going to get these things done.  Actually plan the time out in your day.  What are your main goals for this year - what do you need to get done this month to Kick Start the year?

People you usually deal with may still be on holiday this week, so it's a good time to clear the decks, plan for the year and set yourself up for the coming year.

Get the email backlog cleared but don't spend all day on it.  Spend the first few minutes doing a quick scan of your Inbox.  Quickly delete all the spam and things you don't need to read.  Pick out and flag the emails you need to respond to and if they're Important - set aside time to respond or do them first.  Read my article on clearing your mail backlog.

Unless you've started with great enthusiasm, fully refreshed after your time off - you're unlikely to be hitting the ground running and be able to launch yourself straight into a full day's work.  Tackle your action list in chunks.  Set mini-targets and spend just thirty minutes on the first task.  If you finish it in that time, move on to the next one.  Every couple of hours take a break or go and do something different.

Each day:

Make sure you do one thing that will 'grow' your business.

Make sure you do one thing each day for yourself.

If you've had a busy Christmas with the usual activity of friends and family, don't end up at the end of the next three days worn out and exhausted.  Ease yourself back in gently.  If you're still in holiday mode - decide just to work for half a day or a couple of hours.

If you've planned out what needs to be done, you can be more effective by doing two or three things well rather than trying to do several things half-heartedly.

Finishing Work

How many of you currently work from home?

Do you find that you're getting tempted to work extended hours just because your office is in the room next-door or that you end up working sporadically throughout the day or late into the evening and at weekends?

Just because you work from home doesn't mean that you can't create structure in your day. While you might not want to work 9-5, think about hours that work for you. How many hours a day do you need/want to work? Would you like to have some time off during the day/week?  Spend time planning what needs to be done first thing each morning and fit it into your day around client meetings. What would be a good start time ... 7.30am, 9.30am? What is a good/reasonable time to finish ... 3.30pm, 6.30pm? If you're in the habit of working most evenings to catch up on research, admin and paperwork, aim to finish work a little earlier on <u>at least</u> a couple of evenings a week.  Why not take half a day off during the week and work a little later one evening if you need to.

Make sure that you plan in breaks too. You won't work as effectively or be as productive if you're working continuously and not taking breaks. Even if you work from home, so the 'office' is never far way, set yourself a cut-off time each evening and make sure you get breaks during the day. Take at least one day off at the weekend.

If you're focusing on what <b>needs </b>to be done, you'll be working more efficiently, you won't get so tired or feel guilty and you'll be more productive.  Think about what you need to get done each day and plan it in accordingly. If you want to reduce your hours - look at what's currently on your list of things to do and see what you can change about the way you're currently working to give yourself more time.

Not Turning Up

Now I know life gets in the way sometimes and we can't always allow for the unexpected but it often surprises me that people will take the time and effort to book, register, sign-up or agree to meetings, seminars and workshops and then just not turn up.  Sometimes these events are free, sometimes they've been paid for in advance.  Is it just disorganisation, poor planning or over commitment?

If you've agreed to be there -  there's an expectation that you will turn up.  If you have to change your plans, call the person at the first and earliest opportunity to let them know.

Have you ever agreed to something and then had to cancel at the last minute?  If you find you're saying yes to things and then not turning up or having to let people down at the last minute, start being more realistic with your time.  Don't over commit yourself - make a tentative arrangement and then confirm nearer the time but agree this upfront, so that the other person isn't left in doubt.  Don't say yes when what you actually mean is probably not.

There's no excuse for not turning up and not letting someone know?

If you want to be more organised and effective when organising your meetings, give me a call.