The Importance of Effective Time Management
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:
- 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
- Find specific ways to improve the productivity of various sessions
- 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:
- Sleep – you need sufficient sleep
- Family time – should take priority over work and money
- 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?