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Your Time: Your Most Valuable Asset
by Roger Thomas Lincoln
Here is another article on how to manage and use your
most valuable asset: time. Time is the one asset you cannot buy, borrow or steal. You have a
fixed amount, the same amount as everyone else. How you use that time may have more to do with
how successful you will be than anything else you manage. RTL.
Putting a Priority
on Your Time
By Mark Ellwood
Tomorrow is coming fast. Do you know where you're
headed? The goals you set for tomorrow are your pictures of success. By setting them today, you
aim your activities in the right direction. But a goal shouldn't just be "I want to lose
weight," or "I hope to be rich someday." Those goals are too vague. They're like New Year's
resolutions-well-intentioned wishes that are short on substance.
So use a handy acronym known as SMART to clarify your
goals. This acronym stands for Specific, Measurable, Appropriate, Realistic and Timely.
SPECIFIC - Goals such as being happy, getting rich or
having a good time lack specificity. But when they focus on more concrete aims such as getting
married, reducing accounts receivable or taking regular vacations, they take on more definition.
Being specific also means being focused. Many people find themselves frustrated because "there
are just too many things to do and not enough time." They can't get more time, but they can
specify fewer goals.
The s in "specificity" also stands for "substantial." It
means a goal is concrete and worthy of pursuit. You might decide that cleaning up your desk is a
goal. But it's not the sort of lifetime accomplishment you would want to be praised for in your
epitaph. If cleanliness is an issue, then certainly establish a goal to improve. But put it in
context with more important pursuits. What will you be proud of five years from now? If you had
to write a resume right now, what would you want to put in it? Your accomplishments would be
based on goals that are specific and substantial.
MEASURABLE - The second criterion a goal should meet is
measurability. State your goal in a way that an outside observer could measure it objectively.
For instance, "We will reduce delinquent accounts by one third," or "I will take two vacations
this year," or "I will stop smoking in two months."
Something that is important can be measured with more
than one goal. For instance, a sales rep might aim for specific sales dollars, profit for the
territory, introductions of new products and an increase in distribution channels. It's possible
that she would be successful in one criterion, but not in another. Multiple goals provide
greater perspective.
APPROPRIATE - An appropriate goal is within your area of
power or responsibility. Don't try to work on someone else's goals. Appropriate goals are also
consistent with your organization's aims, culture or standards. For instance, it's difficult to
have a goal of increasing customer satisfaction levels while simultaneously introducing discount
pricing.
Appropriate goals also relate to your personal style.
What are you capable of accomplishing, given your background, your skills, your training or your
physical limitations? People who are only five feet tall have little chance of making the
Olympic basketball team.
That's not to say you shouldn't extend yourself. It is
possible to go beyond anything you've done before, and to push yourself past the limits you
thought were unsurpassable. It is possible to stretch your imagination to conquer heights you
thought were unreachable. Allow your dreams to flourish. But make sure you have the appropriate
resources, time and makeup to turn your dreams into reality.
Goals should also be appropriate to each other. For some
businesses, a goal to increase sales by 20% by the end of the quarter may be inappropriate with
simultaneously reducing bad debt accounts. In many cases, one or the other can happen, but not
both.
REALISTIC - Goals should be a bit of a stretch, but not
so much as to be out of reach. A goal might be achievable within the next three months, but this
deadline may be unrealistic, given the other constraints you're facing. In your business, don't
aim for a market share that is simply not going to happen. Often new businesses will make claims
that seem to be very modest; a very conservative 1% share would satisfy them. In reality, that's
a huge amount!
How do you know what is realistic? Look for relevant
comparisons. Examine historical trends. What has been done in the past? Or look at economic
indicators. What are the trends for the future? Or industry trends. What has the competition
been able to achieve? Has someone else embarked on a similar journey whose results might
indicate what is possible?
A dose of good old gut feeling also helps. Tripling your
salary in your current job by the end of this year is a specific and measurable goal. But it's
not very realistic if you're earning minimum wage by washing dishes at the local greasy spoon.
In that case, perhaps your goal should be to find a higher-paying job or to start your own
business.
TIMELY - Put a deadline on your goals-this Saturday, the
end of the month, the end of the year, your fiftieth birthday, whatever. Start with the end in
mind. What will the final picture of success look like and when do you want it to happen? By
determining the end time, you can then work your way back to see what you need to do on the way.
The challenge you might face is that your goal seems overwhelming. You just don't know where to
begin. If that's the case, break your larger goal into smaller ones.
The SMART acronym should have one extra letter, p for
"passion." Pursue your goals with passion! Don't become complacent about not meeting them. For
example, saying, "We didn't meet our goal last month, but that's all right, we'll make up for
it," should never be good enough. Rework your goals if necessary, but pursue them with a renewed
vigor and with a sincere desire to succeed. Always give it your best, and then some. In Who's
Running Your Career, Caela Farren says, "Passion and purpose go hand in hand. Passion is the
fire in the belly, the willpower, the courage you harness to achieve your mission despite all
the obstacles and reversals." Go for it!
Your time is worth it.
Mark
Ellwood, president of Toronto-based Pace Productivity Inc, is an internationally known
productivity consultant and the leading expert on how people spend their time at work. After
employees participate in his unique, user-friendly time studies, Mark shows organizations how
those employees can spend an extra three hours per week on their top priority activities. Mark
is also an award-winning speaker, training organizations on how to get more results. He has
written two books on productivity and is the inventor of the TimeCorder, a simple-to-use device
for tracking time spent on various activities. Reach him at http://www.getmoredone.com
Article Source:
Putting a Priority on Your Time
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