Do you Manage Time or, does it Manage You?

As a professional you’ve probably seen all of the standard “time-management” techniques.???There are a lot of different approaches.???All work to some extent.???Most miss a key element that I believe you need to internalize.

One of those I’ve found most valuable over the years is Steve Covey’s with this Time-Management grid separating Important-Urgent, Important-Not Urgent, Not-Important-Urgent, and Not-Important-Not Urgent.????The book “First Things First” or, “7-Habits” give a better explanation and strategy.????The discussions of Roles and Goals tied into Efficiency and Effectiveness are great.???I’d argue all of it together is incomplete and inadequate.

One of the most comment “Time-Management” techniques is to keep track of how you spend each chunk of your day.??Similar to a spending log.???Recording each 15 minute chunk with what you’ve been doing during that segment.????Again, useful.???Anymore, it’s shocking to see how much time you may have spent, for instance on Social Media.???

In most cases I bet your time allocation really ignores the 80/20 Rule (often more like 90/10.). What do I mean by that?????We’ll I’m sure you’re familiar with the concept but generally 20% of your time creates 80% of your results.???20% (or, 10%) of your clients create 80% (or, 90%) of your revenue, referrals, results.???I’d add the most valuable clients rarely chew up huge amounts of time (I know, I know there certainly are exceptions to that rule.)

Another, pretty good system is within a program that I bought years ago I believe called Personal Time Management by a company known as LMI (Leadership Management International.).???A unique piece of the program is what they called a “conference planner.”??What is was is a discussion planning checklist.??You’d get your staff together and train them on the program.???

What they’d do is anytime they had a question, needed a decision from you, or had an item they needed to communicate – they’d note in on their planner.???You’d have a pre-scheduled meeting with each weekly, daily, or perhaps monthly or quarterly.??Instead of popping into you office every few months, calling continually, or now – CONSTANTLY emailing often with little thought ahead of time, they’d wait until your scheduled meeting and then knock off all of their points.???One big advantage that I found to this one is in great measure it teaches the staff to take responsibility, make a decision, and keep things off of your plate (a BIG DEAL.)

As long as we’re on staff – I’d highly recommend a book that’s really good:??“The One Minute Manager Meets the Monkey.”

While we’re on staff, the concept of “completed staff work” that I picked up from reading about the U.S. Military leadership.????The basic concept is that if staff are going to bring you a problem, they should also come with options for solutions.???That ties nicely with the “The One Minute Manager Meets the Monkey” book that I referenced above.

As you’re obviously aware, effective Time Management could be a full-week topic.???

I’d note a couple of observations that I’ve had of Advisors.

One, it seems that Advisors are very often Busy being Busy.???Just because you got a lot of stuff done, doesn’t mean that you’re moving in the direction of your goals.??It doesn’t mean that you are effectively generating revenue, creating new clients, increasing your AUM.

Two, I see way too many Advisors that are constantly and almost instantly accessible to clients.??Working franticly to answer emails, answer texts, answer their own phone (often interrupting lunch, dinner, time with the kids, or other important meetings to do so.).???The reality is that people consciously or unconsciously rate your value in inverse proportion to your accessibility.??Confusing instant accessibility with customer service is always a mistake.

Three, with regard to marking I see advisors constantly wasting time on social media, spending time “posting” and doing a variety of activities that rarely turn into new clients.???We think by “being out there” we’re going to create client flow.??It rarely happens.???Very few advisors really take the time to thoroughly understand correct “Direct Response Marketing” and fixate on online marketing to the exclusion of all other options.

I did a great interview with Lee Milteer last month where we discuss our time-management systems.??

One comment that I made in my “Way of the Mile High Maverick” book (happy to give you a free copy at:??https://www.AdvisorWealthMastery.com .).??Where I made a comment that unless you’re working with clients or staff you’re wasting time.????Now, that clearly overstates it a bit but you’ve only going to “close a deal” by talking with a prospect.??You’re only going to increase the relationship with a client by talking with them.???You’re only going to develop a strong team by effective and constant training.???

Well, I leave it at that.???I’m putting up a the finishing touches on a Time-Management program for Financial Advisors and, if you’d like the recording with Lee Milteer just request our free package of practice growth materials and, I’ll make sure you get a copy of it as well.

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About Stephen Oliver.???Stephen Oliver graduated from Georgetown University with a degree in International Economics, expecting to go onto a Harvard or Wharton MBA then onward to Wall Street.??Instead he ended up in Denver, an started 6 martial arts schools in 36 months.???He ended up with over 2,500 active students and promoted one of the largest martial arts tournaments in the country along with 100’s of other events.???Very early on professionals ranging from Financial Professionals, commercial realtors, lawyers to, of course other martial arts schools sought him out as a consultant on Marketing, Sales, client relations, and staff development.???He completed his MBA in 1992.??His first book in 1999 was on using the internet to market a small business.???Since then, he’s written a number of books on business management, marketing, personal development, and sales and has worked with 100’s of clients on growing their businesses aggressively and effectively.???He’s taught business seminars all over North America and has shared the stage with speakers ranging from former NYPD commissioner Bernard Kerik to Tony Robbins and Brian Tracy to marketing guru’s such as Dan Kennedy and Jay Abraham.??More at LinkedIn:????https://www.dhirubhai.net/in/stephencoliver/