Friday, October 06, 2006

Squeezing 48 hours into a day

How often do you find yourself wishing there were 48 hours in a day? Do you find that your to-do list is frequently left untouched? Managing time effectively is one of the key challenges for a successful entrepreneur.

Break it up: Break up your large tasks into small and manageable ones. Start by estimating the effort needed to accomplish a particular job. Write out a sequence of activities that are needed in order to complete it, along with an estimate of how long each will take. Now take them on one at a time, and periodically monitor how much time you’re actually taking, compared to the plan. This is a very important part of time management, and with practice you’ll be able to get it right!

Prioritize your work: List out all the tasks you must carry out to achieve your goal and put them in order of importance. This enables you to tackle the most important and beneficial jobs first. If there are too many high priority jobs, you’ll either have to rearrange your schedule or delegate some of the work. This helps you focus on doing things that are really critical.

The 80:20 rule says that 80% of unfocused effort generates only 20% of results and the remaining 80% of results are achieved with only 20% of the effort!

Plan the unplanned: Things rarely turn out the way we intend them to. Time management teaches you to keep aside some time for those inevitable crises. Often not budgeting for those extra hours might itself create a crisis!

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