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Time Management

Guest post by: Casey Cavell

Article Overview: The world’s most precious resource is not oil, gold, or the almighty dollar; it is time. Since it is a finite resource and no one knows how much time they are guaranteed, it is important to maximize efficiency in all of your business ventures.

Time Management

The world’s most precious resource is not oil, gold, or the almighty dollar; it is time. Since it is a finite resource and no one knows how much time they are guaranteed, it is important to maximize efficiency in all of your business ventures.

Most people don’t realize how much time they waste throughout the day. Let’s say that you watch on average 1 hour of television per evening. Multiply that by 365 and that’s 365 hours worth of watching TV. If you divide 365 by 24 (number of hours in a day), you arrive at 15.2. That’s right, by just watching 1 hour of TV per day, a person spends 15.2 days of their year being unproductive. That’s a long vacation by most standards. Can you imagine all of the progress you could make towards realizing your financial dreams with 15.2 extra days to work on them? Now I know that it is important to have a little time to relax so that you don’t become burnt out. This was just one task though. Imagine all of the other ways that we waste time throughout our day. Looking at people’s statuses and pictures on facebook, taking long lunches, zoning out and listening to music; virtually anything that you do that isn’t helping you directly or indirectly achieve your dreams is wasteful.

I recently challenged myself to work on maximizing my time in order to become a better employer, real estate investor, colleague, and mentor. I decided I would devote 60% of my work day to work on goals I have set for that month. 30% of my work day would be spent on creating new goals and challenges for me for the next week or month. 10% of my work day would be spent identifying my weaknesses and developing solutions for them. This 60-30-10 ratio can be applied to any goal you set. For instance, if you have recently purchased a self storage property and your goal is to increase occupancy from 65% to 80% within one month, you can use the 60-30-10 ratio for your work day. 60% of your work day would be spent on marketing your property, sending referral bonus emails to current customers, and making improvements to your property. 30% of your day would be spent planning future goals such as; how to get from 80% to 85%. 30% of your day would be spent figuring out how to sustain your occupancy rates once you achieve your 80% goal. Finally, 10% of your day would be spent on introspection and indentifying why you are having problems meeting your 80% occupancy goal. If you spend 100% of your day working on a goal, setting higher future goals, and identifying any problems you might have in obtaining a goal; you will always be working towards a goal and you will achieve them.

So to get you started, I challenge you to spend tomorrow working on a single goal. Identify a goal that you have that can be accomplished in one day. Spend 60% of your work day on obtaining that goal. Spend 30% of your day planning future goals. Finally, spend 10% of your time thinking about what is wrong with your plan and how to fix it. Of course these duties don’t have to be done in this order. Develop a plan for your day and budget your time accordingly. After spending a day doing this, you will find that when you apply it to other tasks too, you are consistently achieving your goals.

Good Luck to you.

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Article Tags: casey cavell, commercial real estate, efficiency, personal goals, precious resource, real estate investing, success, time management



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Your Intial Mistakes Business - Hi, When I started my business I had made a lot of mistakes initially. These helped me in learning the art of the trade and today when I look back, I feel that these mistakes were quite silly. I had made my learnings then and those learnings have helped me time and again. Some of the mistakes I made were - i. Wrong Time Management ii. Wasting money on glossy Brochures and Business cards iii. Believing what they taught me at school was 100% correct iv. Giving too much when it was not required...... I would like to find out what have been your faltering moments in Business when you had started and what/how did they help you grow. Regards
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Which kind of industries are you interested in? - Ecological or E-business or Investment or Finance or Management or Non-Profit or Retailer or others.
Books that should be written - [quote:1m0dcpd7]"The Idiots Guide To Sticking With One Thing At A Time and Not Doing Something New All The Time" [/quote:1m0dcpd7] I myself am a 'constructive' procrastinator... I don't know if I'm alone in this. I have about six or seven projects I'm working on at any given time. I get one project almost done... then my interest is piqued by another project and I work on that... I get burnt out and move to another...I know I do this so I have it arranged such that once I get bored or burnt out with one project, I can step right back into project 1 - or 2 or 3, and get that a little bit more done before moving on to something else. As long as you're organized and know where all your reference material/idea sheets are when you're ready to get back to work on each project, it should be fine. I also find that by stepping away from a project - I still work on it in the recesses of my mind so that when I go back to it - it's with some good ideas that I wouldn't have had if I'd continued on with it originally. Maybe I should write a book on how to Procrastinate Constructively... I've actually thought about doing that...because most people procrastinate, don't they...and very few are ever able to stop.


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