Apply the 80/20 Rule to procrastination. Resolve to procrastinate on the 80% of tasks that are of low value so that you can dedicate the limited amount of time you have to those 20% of tasks that have the highest value.
Return on Time Invested
In terms of value, and “return on time invested” (ROTI), if you have a list of ten tasks to complete, two of those tasks will be worth more than all the others put together. This means that each of those tasks will be worth at least five times, or give you a 500% return on time invested, over doing any of the other eight tasks on your list which are of low or no value. Focusing on these two tasks will give you the highest payoff possible for the investment of your time.
It has been said that effectiveness is doing the right things and efficiency is doing things right. The difference between leaders and managers is that leaders do the right things, and managers simply do things right. In setting priorities, you must focus on doing the right thing, rather than simply doing things right. As a knowledge worker, according to Peter Drucker, your first 111
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job is to decide “what” is to be done? The questions of how and when only come later. Remember, if it is not worth doing, it is not worth doing right.
Priorities versus Posteriorities
An important part of setting and working on priorities is for you to set posteriorities as well. A priority is something that you do more of and sooner. A posteriority is something you do less of, and later, if at all. Setting priorities means starting something and completing it as quickly as possible.
Setting posteriorities means stopping something or even discontinuing an activity altogether.
Since you can only do one thing at a time, and you cannot do everything that you have to do, one of the questions you ask at the beginning of each day and each week is,”What am I going to stop doing?”
What are you going to cut out? What are you going to eliminate? What activities are you going to delete? What are you doing today, that knowing what you now know, you wouldn’t start up again today if you had to do it over?
Stop Doing Things
The fact is that you can only get control of your time to the degree to which you stop doing things that you are doing today. You cannot simply find ways to do more things, to work longer and harder hours. Instead, you have to stand back and look at your life and work objectively and ask, “What am I 112
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going to stop doing, so that I have enough time to do the most important things in my life and work?”
Before you start a new task, remember that, “Your dance card is full.” You are already overwhelmed with work. You have no spare time. You are subject to The Law of the Excluded Alternative which says, “Doing one thing means not doing something else.”
Before you commit to a new task or job, you must think through and decide upon the things that you are not going to do right now, or which you are going to eliminate altogether. You must decide how and in what way you are going to defer, delay or delegate certain tasks on your work list if you are to free up enough time to do other tasks that are more important. Getting into a new task means getting out of an old task. Picking up something that you haven’t done requires putting down something that you were already working on.
The very act of thinking through what you are going to stop doing is a tremendous help in setting accurate priorities before you begin.
Practice the ABCDE Method
One of the most helpful ways for you to organize your tasks by priority is for you to use the ABCDE Method. This requires that you review your list of daily activities before you begin. You then place one of these letters in front of each activity. Organize your tasks in terms of potential consequences.
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Your “A” List
An “A” task is something that you must do. It is very important. There are serious consequences for not doing it. Place an “A” next to every item on your work list that is urgent and important, and which has serious consequences for completion or non-completion.
If you have several “A” tasks, organize them by importance by putting “A-1, A-2, A-3, and so on next to each item. When you begin work, you always start on your A-1 task. This is your top priority.
Your “B” List
A “B” task is something that you should do. There are mild consequences for doing it or not doing it. The rule is that you should never do a “B” task when there is an “A” task left undone. A “B” task may be getting back to a coworker with the answer to a question, or replying to correspondence.
The rule is that you never work on a “B” task when there is an “A” task still not done. Working on your “A” list is the key to high productivity and maximum performance.
Your “C” List
The letter “C” stands for things that would be nice to do, but they are definitely not as important as “A” or “B” tasks. There are no consequences 114
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for doing them or not doing them. Reading the paper or going out for lunch fall neatly into the “C” category.
Delegate Everything Possible
The letter “D” stands for delegate. Before you do anything, you should ask if there is someone else to whom you can delegate this task to free up more time for the most important tasks that only you can do.
Eliminate Everything Possible
The letter “E” stands for eliminate. There are many little tasks that creep onto your daily list that you can eliminate altogether and it would make no difference at all to you or to anyone else. The rule is that you can only get control over your time to the degree to which you stop doing things of low or no value. The more things you stop doing or eliminate altogether, the more time you will have to work on your “A” tasks, the tasks that determine your success or failure at work.
Reengineer Your Work
The process of reengineering applied to your personal work can be very helpful to you in setting better priorities. The central focus of reengineering is simplification. You must continually look for ways to accomplish a complex task or busy job by simplifying the process of work on the task from beginning to completion.
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In reengineering your work, you continually look for ways to delegate, defer, downsize, outsource or eliminate. In delegating, you look for someone else who can do the job at least as well as you, but at a lower hourly rate than you earn. In deferring, you look for ways to put off parts of the task that do not have to be done immediately. In downsizing, you look for ways to reduce the size or complexity of the task. In outsourcing, you look for individuals or outside organizations that specialize in doing this particular task, and you turn over complete parts of the task to them. In eliminating, you look for ways to discontinue the task altogether, especially if it is no longer important in the current situation.
The decision to continually look for opportunities to outsource, delegate and get things done by other people frees you up for the things that only you can do. It is a critical part of setting and achieving your top priority tasks.
Setting Personal Priorities
Your main goal at work, and the key to self-esteem, self-respect and personal pride is for you to increasingly develop your personal and corporate effectiveness. The more effective, efficient and productive you are, the better you feel and the more successful you will be. This is a central focus of time power.
To set better personal priorities, regularly ask yourself questions such as: 1. “What are my unique strengths and abilities?
2. What are my natural talents?
3. What do I do especially well?
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4. What have I done well in the past? What skills, abilities and accomplishments account for most of my success in life and work up until now?
5. What are the things that I do quickly and well that seem to be difficult for other people?
6. Where do I have the ability to become outstanding if I were to upgrade my knowledge and skills?
7. What do I really love to do?”
Most of your results in life come from your ability to perform well in a few limited areas. One of the characteristics of leaders is that they only choose positions and accept jobs and responsibilities where they know they have the ability to do the job in an excellent manner. They refuse to do things that they don’t enjoy, or which they do not do particularly well.