A Time Management Truth!

Few days ago, I was working with one of my client, and out of a conversation she said, "Its October end, whole year just seem to go by and nothing satisfactory is been accomplished in last 10 months." So true, isn't it? Time just flies. New Year is about to start in 2 months time and we would be again getting ready for another NEW YEAR RESOLUTION.

According to a report, By the second week of February, some 80 percent of New year Resolutions are out.

So what most of the time, the missing link is of building a proper mindset for proper goal setting and actually allocating time to accomplish it.

As Tony Robbins say, 'If you talk about it, it's a dream. If you envision it, it's possible. If you schedule it, it's real.

Once you have the proper time management mindset, you can apply what I consider key time management truths: We all have the same amount of time. Time can have a future value, like return on investment from money you invest at a bank/business. Some activities produce better results than others. Let's look at some applications of these truths.

As I began to learn more and more about time, I discovered the importance of understanding the value of an hour. To calculate the worth to you of an hour financially, take how much money you earn annually and divide this by the number of hours that you work per year. Generally speaking, if you work full-time, you work 2,000 hours per year (fifty weeks a year times forty hours a week). If you earn Rs 1,20,000/- a year and you work 2,000 hours per year, an hour is worth Rs 60 to you. (You may work more or less than forty hours, so adjust your numbers according to your situation.)

If you play with these numbers, one thing you'll notice is that, because your annual revenue is directly proportionate to the value you earn per hour, you can dramatically increase your annual revenue by increasing your productivity.

For instance, if you earn Rs 1,20,000 annually and work 2,000 hours a year, an extra hour of productivity per work day is worth Rs. 21,000/- to you per year, or Rs 2,10,000/- over ten years. If you earn Rs 2,40,000 a year, the value of an extra hour a day doubles to Rs. 42,000/- a year or Rs 4,20,000 in ten years. Understanding an hour's financial worth to you provides a great starting point for you to begin to make better time management choices.

For Example, The person who cleans my home charges me Rs 500/- for each visit. It probably takes her and her crew three hours to complete the job. If I was to do the work myself, and it took me three hours, then I'd be earning Rs. 167/- an hour. An hour to me is much more valuable than Rs 167/-. Hence, that's why I hire her and her team to do it.

Here's a key time management principle that focuses directly on this idea of understanding the value of an hour: Do what you do best and pay others to do the rest. Pretty simple, huh? Yet you'll be amazed at how understanding the value of an hour will help you prioritize tasks and activities.