An amazing client recently sent me this HBR article, Productivity Skills to Help You Gain Time Back, by Steve Glaveski.
The first sentence is: "We're all busy - so busy."
The article compares money and time, reminding us that most of us are more aware of how we spend our money but not our time.
"Unlike money though, time can't be earned back."
Think about that for a minute. While we can go into a financial debt, and earn it back, we truly cannot go into a time debt. What do you do regularly that costs you money? In this month's productivity hack, I want to help you explore that.
Focusing on the $10,000 Per Hour Tasks
You are reading this because you are a smart, amazing, and a high-achieving professional. At the same time, you could always benefit from some time management tips and strategies. So today, I will ask you, "What percentage of your time do you spend on $10-an-hour tasks?"
We all have tasks we regularly do at home or the office that should be delegated, systemized, or removed. Perry Marshall created this chart to help you assess the value of the common and repeated tasks.
I know you. There are a few $10 per hour tasks that you are doing multiple times per day that you should not be doing, such as:
Working "social media" the way most people do it.
Did you know that you are knocking TWENTY YEARS off of your life by chronic doom scrolling on your phone? It's true. I wrote about it about it in The Seemingly Insignificant Time Leaks blog. I want to help you today stop doing $10 per hour tasks that are not worth your time.
Increase your value today with these 3 easy steps.
Review the above chart: Is Your Work Worth $10 an Hour or $10,000 an Hour and identify
What are some frequent activities you do and are not a good use of your time?
Maybe you have even thought about delegating them, but don't know how.
Highlight those activities.
Consider what your process or habits are and determine how you could outsource or delegate the task or some part of that task.
Write out the steps that you take. I promise doing this one time might pay for itself the next time this activity is done.
Send the steps to your assistant, spouse, or outsourced help.
Filming a Loom instructional video is a time-saving tip and the instructions are clear and evergreen.
Sample: Expense Report
Let's assume you completed Step 1 and identified "Doing expense reports" as an activity you are still doing yourself. If you write out the process, it might look something like this:
Locate all of my receipts in my email.
Locate all of my hard copy receipts thrown into my workbag or purse.
Double-check my calendar for any travel or events that I may have forgotten.
Calculate mileage for driving trips.
Fill out the expense report form in Excel / Chrome River -- or whatever tool or software you use.
Review the report and attached receipts.
Submit to accounting for reimbursement.
When writing out the process, you recognize where you could use your assistant for help. Maybe instead, you set up a new process where you:
Immediately forward all emailed receipts to your assistant via email (Tip: use a Quick Step in Outlook to make this efficient.)
Provide all hard copy receipts to your assistant regularly.
Request that your assistant complete the expense report contemporaneously and check it against your calendar for any gaps in information.
Sign off on it once complete.
Reach out to me if you've identified some $10 or $100 per hour tasks that you should not be doing, but you're struggling with delegating or removing those tasks. These are the exact issues that the Firm Focus team helps with.
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