This post originally appeared in the July 2014 issue of Time Management magazine.
People who seek advice on time management often tend to lust after the concept of winning back more hours in the day in order to get things done. “If only there was a way to freeze time,” they say, or “If I could just squeeze another hour or two out of the day, I could get caught up.”
Well, maybe, but consider the following non-time-related issue:
A friend comes to you and says, “I have a problem with credit cards. I am maxed out, I am paying hundreds of dollars per month in payments and I feel I am getting nowhere. What should I do?”
Many people, in seeking to answer such a question might reply, “cut up your credit card,” or get a loan or a line of credit and pay off the balance right now.” These are two highly practical suggestions, but they will not solve the problem. They will not achieve the desired result.
A person with a credit card has a spending problem. The habit of spending on credit, of giving in to the temptation or distraction of the immediate will not be cured by removing the debt or destroying the card. A person who cuts up a credit card can still shop online and a person who converts a credit card debt into a bank debt will quickly have two sets of debt, as the freshly emptied balance gets used again.
The trick to successful credit card management is to develop new habits that replace old ones. Habit such as paying only with money available, or diligently paying the credit card balance to zero every week. These habits take time and effort, and the odds in favour of relapse are great.
The same thing applies to tasks and time. People who win back an hour or two in their day, either by delegating some work, eliminating it entirely, or cutting back on the time spent in meetings or responding to email, only to fill those newly-won hours with more of the same have achieved nothing. Nothing, that is, except a form of ergonomic inflation. It’s like saying “I have learned how to speed-read and speed-type. Now, instead of handling 100 emails per day, I can handle 200.” Is that really an achievement? Do those extra emails deliver twice the success, or do they simply add more redundancy to the pile?
The issue here is a difference in results. Being able to do twice as many largely impractical tasks, may feel like achievement, but it truly isn’t.
One application of the Pareto principle (also known as the 80/20 Rule) is that 80% of the value of a meeting happens within 20% of its duration. So why do meetings last as long as they do? Because they can. Why do we reply to as many emails as we do? Because we can.
In short, if a person is actually able to win back two, three or four hours of extra productivity time in the day, they had better be very sure of what they plan to do with it, because much like a freshly cleared credit card debt, it can refill awfully fast.
So how to ensure all time is well-spent? Through adequate planning. Investing in a small amount of time to plan the day means that everything can be accounted for. An email that contains a task request that will take more than two minutes to complete should be promoted into a scheduled activity. What about the crisis-of-the-day that almost always happens? Schedule it anyway. If it has better than 75% odds of happening sometime after 9:00 a.m. today, then assign a moveable block of time on your calendar right now, and fill in its name and official start time later.
The goal here is to stay totally aware of the value of every minute of the day. If every credit card came with an app that revealed the true price of every item purchased on credit, for example a $100 small appliance actually costing $700 after three years of interest and late payment charges, many people would rethink a spontaneous purchase.
That’s how planning can achieve results. Genuine productivity happens when the value of the work done exceeds the sensation of work being done. In other words business instead of busy-ness. A result should always represent a positive outcome, not merely an outcome.