Why are business people so busy?
In First Things First, Stephen Covey posits, "Individuals anticipate that we should be occupied and overworked. It has become a status symbol in our society — if we are busy, we are significant; if we are not busy, we are almost embarrassed to admit it. Busyness provides us with a sense of security. It is validating, popular, and pleasing. Moreover, it serves as an excellent excuse for not addressing the primary concerns in our lives."
Reflect upon your beliefs and patterns concerning the utilisation of your time and your propensity for busyness. For instance, do you derive pleasure from working extended hours and engaging in numerous activities? Does it make you feel indispensable, or does it merely cause a sense of being overwhelmed? Do you execute low-value tasks as a means of distraction from confronting unpleasant, albeit more critical, matters? Do you evade conflict, procrastinate, or take on excessive responsibilities? Do you habitually agree to every request for your assistance or time?
What gets measured gets managed
Time is a finite resource for humans. On average, an individual has approximately 4,000 weeks of life. Thus, at the age of 40, one might have about 2,000 weeks remaining. However, one can never be certain of the exact number of weeks left, so it is prudent to choose to utilise the remainder judiciously.
Every individual should devote time to scrutinising precisely how they spend their time. This can be achieved by creating a Time Log, an Excel spreadsheet representing an entire week. One column per day (Monday to Sunday), with each row signifying 10-minute intervals from 6 am to midnight. Carry the Time Log and complete it for a minimum of two weeks, discerning your time usage patterns. Document precisely what transpired during each of the 10-minute blocks throughout the week.
This exercise will heighten your awareness of time and inform how you can allocate it more effectively. Did you predominantly engage in high-value or low-value activities? Did you observe recurring routines throughout each day or week? Prior to initiating your Time Log, develop categories such as visiting, preparing, planning, reading, learning, meetings, family time, relaxation, travel, telephone calls, etc. Subsequently, estimate the amount of time you would allocate to each activity before commencing your log. Once completed, compare your estimates with your actual time usage. Then, juxtapose that information with your vision and values. Finally, pinpoint the essential areas for improvement.
Does your Time Log reflect a balanced, fulfilling life, or is it replete with low-value activities like playing computer games, watching television, or browsing the internet? Time is your most valuable resource. Every week comprises 168 hours. Have you utilised your time judiciously this week?
A business can easily consume all of the owner's waking hours. Business is a ceaseless "game." There is invariably more that could be accomplished. It is never complete; there is always further research, analysis, innovation, competitor study, and customer interaction that could transpire. No one has ever uttered on their deathbed, "I should have spent more time at the business." Ensure that your Time Log reflects the values and priorities for your life, rather than merely being "busy at the business."
Business is a beguilingly alluring game. It fulfils numerous human needs and can afford money, status, growth, interaction, love, energy, excitement, contribution, information, certainty, and risk.
For numerous businesspeople, it also provides for their families. Moreover, it can be an incredibly addictive and wholly engrossing pursuit. However, there is life beyond business, as many individuals have discovered.
A genuinely balanced life should encompass activities in an array of non-business domains, including health and fitness, relationships, spirituality, family, personal development, and finance.
Your Values
In order to lead a fulfilling and gratifying life, it is essential to dedicate time to discerning one's values and priorities. Firstly, pose three pertinent questions to oneself: "What is of significance to me in my life?" (life values), "What is of importance to me while working for this company?" (work values), and "What is crucial about being a...?" (career values). Continue asking these questions until five reasonable responses for each have been obtained. Subsequently, prioritise the answers from 1 to 5. This prioritisation is crucial, as it elucidates what truly motivates you and offers insight into what you perceive to be absent in your life.
Know your Outcome
For every endeavour in your life, it is essential to identify your desired outcome before commencing. As Stephen Covey articulates in 'The 7 Habits of Highly Effective People', "Begin with the end in mind." Experiment with this approach for various activities in your life. For instance, what outcome do you seek from exercising today, conducting this meeting, or hiring that individual? Most importantly, contemplate the outcome you desire for your life. What would you like people to say about you after you have passed away? What inscription would you prefer on your tombstone?
Take your list of life, work, and career values and formulate specific goals or objectives you would like to achieve in each area. These goals might be lifelong aspirations or simply objectives to be accomplished within the year. Write down your list of goals and review it every morning and evening. If you are a predominantly visual person, search for images on www.google.com to represent your various goals and create a visual goal sheet.
What do you want?
It is essential for everyone to maintain a list of goals. There is a saying, "You either have a goals list or end up working for someone who does!" Ensure that your goals are not merely a simplistic to-do list for your life; endeavour to include some considerably challenging goals or BHAGs (Big Hairy Audacious Goals) – ones that may seem daunting and seemingly unattainable. Write your most critical goals on a business card and carry a laminated copy with you daily.
Developing a "dream sheet" is another effective method to gain clarity on your desires in life. A dream sheet is a compilation of images representing all the things you would like to possess and experience in your life – such as your dream cars and houses, jewellery, boats or planes, hobbies, sports, and so forth. Whatever holds significance for you! Cut out these images from magazines and affix them onto a large piece of cardboard, accompanied by words of encouragement. These images should inspire and motivate you.
Focus for Success – the 80/20 rule
Almost everyone ought to be familiar with Pareto's principle or the 80/20 rule. This principle is a consequence of an asymmetric, skewed, or non-normal distribution chart. A prime example is the notion that 80% of sales turnover stems from 20% of one's customers. Applied to time management, it is not about the intensity of one's labour, but rather the astuteness. One can achieve 80% of the desired results with only 20% of the effort. By concentrating on the appropriate areas, this allows for remarkable leverage of one's time.
It is necessary to focus on the "important but not urgent" aspects of one's life. These tasks may encompass planning, research, analysis, innovation, rest, proper sleep, diet, and exercise. While the "urgent and important" tasks should already be addressed, one should question whether an excessive amount of time is being spent on "urgent but not important" or "not urgent and not important" tasks. Numerous individuals avoid the "important but not urgent" tasks for various reasons, often rationalised as being "too busy," when, in truth, it is due to procrastination, fear, lack of motivation, or aversion to the task.
Keep a Journal and Write things down
Research demonstrates that over 80% of newly acquired information is forgotten rather swiftly. Taking notes during meetings, seminars, presentations, and telephone conversations can enhance one's recollection and productivity.
Richard Branson, the founder of Virgin Brands, which encompasses Virgin Cola, Virgin Airlines, and Virgin Record Stores, maintains all of his diary notes in school exercise books. A notebook or journal can also serve to document the transient ideas that arise throughout the day, capturing them for more in-depth examination. Utilise your journal to record your emotions before and after significant events, enabling you to observe the correlation between your feelings and successful outcomes.
Decide Your Hourly Rate
What is your hourly worth? $50, $100, $200 or more? Should you desire to increase your annual income, the solution is straightforward. Simply determine the hourly rate you wish to earn, and cease performing tasks that can be delegated to others for less than your desired hourly rate. For instance, if your goal is to earn $100,000 per annum, refrain from engaging in tasks such as washing your car, mowing the lawn, cleaning your house, setting tables, or clearing dishes, which can be completed for less than $50 per hour. Concurrently, you must endeavour to identify and execute tasks that yield returns significantly greater than $50 per hour, including investing, analysis, recruitment, and negotiation.

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Information contained in this document constitutes general comments only for the purposes of education, and is not intended to constitute or convey specific advice. Clients should not act solely on the basis of the material contained in this document. Also, be aware that changes in relevant legislation may occur following publication of this document. Therefore, we recommend that formal advice be obtained before taking any action on matters covered by this document. This document is issued as a guide for clients only, and for their private information. Therefore, it should be regarded as confidential, and should not be made available to any other person without our prior written approval.