We all have the same amount of time

We all have the same amount of time

Some use their time to accomplish an impossible amount of work, while others waste their time repeating the same few tasks, perhaps gaining 10% improvements each year.

Even if you believe you're in the first camp of making heroic progress, if you're focused on finding the right productivity app, you're in the second.

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Time Management

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It's easy to fall into the habit of doing something repeatedly without clarifying what the steps are. Explaining how to do things ensures tasks are done properly, and that no one has to spend time constantly re-teaching how to do something. Once the system is defined, it's possible to start automating and delegating it.

Before you consider automating or delegating a system you've defined, go through each step and see if it can be removed, combined with another step, or if you can create some new step that removes a handful of others.

Financial leverage involves using other people's money to improve everyone's returns. The very rich had the confidence to take on some leverage to increase their upside if they succeeded.

We all have access to another form of leverage which can be the difference between increasing your salary by 10% per year and doubling it every year. It's called Personal Leverage and is a measure of your ability to extend your productivity beyond yourself.

  1. Decrease the amount of time something takes you. You can get 10% more productive.
  2. Pay a machine or person for their time. You can get 10x more productive.


The best way to extend our work beyond ourselves and take advantage of personal leverage is to go through the Personal Leverage Loop: define, refine, automate, and delegate.

  • Look at each individual step of your refined process and ask if a machine could do this. But be careful not to skip straight to the automation step without defining and refining the system first. Skipping to automation might create unnecessary complexity.
  • Once you have defined, refined, and automated the system to the greatest extent, you can delegate it. Invest in someone who can take the system you started, implement it as you designed it, then continue to improve and refine it. If someone was doing this work instead of you so you could focus on other things, would you eventually be able to afford them? Taking a step back financially often gives you the ability to take two steps forward. If someone else could do the work at least 80% as well as you, delegate it.

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  • For new and inexperienced in the job staff -  use a directive delegation style (Tell exactly what you want them to do).
  • For staff that has experience in the job (they know what they are doing) - use the effective, management by objectives delegation method (Tell people the end result that you want and then get out of their way).
  • When the staff person is completely experienced and competent, your method of delegation in this case is simply, easy interaction.

5

IDEAS

Focusing on your skills

You will stand out in some specific skills and tasks. Those are the skills others pay for and where you add the most value.

But you probably don't spend that much time using your skills because you try to do everything else by yourself. You may know that you should delegate more, but it's just too difficult to do.

Automate Decisions
  • Transfer money to your savings account every time you receive a paycheck
  • Choose all your outfits for your week on Sunday and hang them in the closet in order
  • Subscribe to a weekly fresh delivery of organic vegetables and fruits to your home
  • Standardize the typical daily meals you like the most, saving time in cooking and grocery shopping
  • Prepare your sports bag every night and put it in your car. If you prefer running the morning, leave your running shoes near the bed
  • Automate all electronic gadgets to go into sleep mode at a certain hour

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