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The Importance of Effective Time Management

2 March 2010 No Comment

Time management is one of the most best things that you can strive to get better at in your life in my opinion.  Improving your time management can be the difference between an increase in income, the ability to build and manage a second income stream and a quality work / life balance versus a poor one.

When it comes to developing a second income stream, most fail to do it not because of the difficulty or the lack of skills.  Most fail to develop a second income stream due to an inability to manage their time well and a lack of determination.  The determination can be solved fairly easy – simply, get determined!  The time management however isn’t solved so quickly.  It needs to be modified and analyzed.

A few tips to improve your time management:

  1. Analyze how you spend your time – track your time and categorize it according to purpose (job, side income, leisure, family time, etc.) – rank each “session” according to how productive it is
  2. Find specific ways to improve the productivity of various sessions
  3. Minimize time wasted doing things like aimlessly surfing the web, or browsing facebook, or “seeing whats on TV” (rather than sitting down to watch a show you actually plan to watch)

Some areas where you shouldn’t eliminate or even cut down:

  1. Sleep – you need sufficient sleep
  2. Family time – should take priority over work and money
  3. Exercise – Stay healthy

What are some ways that you have improved your time management?

Have you added a major responsibility into your daily life such as running a side business or income stream without dropping any areas of life (quitting a job)?  How did you manage to effectively increase your responsibilities?

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  • Ted @broketofree said:

    The most important part for me has been- when I sit down to work- I gotta work efficiently. Then my time is so much more maximized. I tend to daydream a bit and get distracted easily. I try hard now to work smart, fast, and efficient so that the free time I have is guilt free. And when I needed some extra time to write or prepare for speaking- I was ahead in work and could take it.

  • Ken said:

    I get up 1/2 hour earlier than I need to..this allows me 30 minutes to focus on my blog….a small change that helps me have time to focus…I have a wife and 2 children.

  • Accountants Sussex said:

    At the end of each day I plan for the next days activities. I prioritize in my diary, in order and the approximate time it should take to complete. Any tasks (work related) that I do not achieve in the allotted time spot will be put forward. If I need to alert stakeholders of the delay this task is also noted. The diary then becomes a record and reference should it be necessary to recount that given day.