One area where a lot of people have problems with running an online business is time management. Too many of us spend too much time on the things that don’t matter and not enough time on the things that do matter.
Recently I’ve been reading “The Four Hour Workweek” by Tim Ferriss, and since doing so have really improved the way I use my time. So in this post I want to share a few ideas that I’ve taken from his book. I hope they help!
Pareto’s LawMost of you have probably heard of this by it’s other name, the 80/20 rule. Sometimes the ratio is different, but the principle is the same: 80% of the effects come from 20% of the causes.
So what does this mean to us as internet marketers? They way I look at it, it means that you can easily waste a lot of time! But what if you were able to identify the most important things that you can do to move your business forward every day?
Here’s an activity I want you to do sometime soon:
- Make a list of the things you do for your business. This list could include everything from answering emails to processing orders.
- Next, grab a piece of paper and draw a line down the middle. At the top of one column write ‘20%’, and at the top of the other, write ‘80%’.
- In the 20% column, list the things you can do each day that can actually help to produce income. In the other column, list the other things that you feel need to be done, but don’t directly relate to producing income.
The purpose of this activity is to help you to identify the things that you should really spend your time on versus the things that are important to do, but don’t lead towards creating an income.
Chances are your 80% list is longer. This list most likely includes things like answering email, reading other blogs, etc. These things are good things to do, but are there better things you can be doing with your time?
So what are things that you should focus on? Things that help to produce results! This would include anything you do to market your site, or anything really that directly helps you to get people to your site.
Parkinson’s LawSome of you may have heard of this law, but some of you probably haven’t. Parkinson’s Law states that a task will swell in perceived importance and complexity in relation to the time allotted for its completion. In other words, a task that should only take an hour to accomplish can easily take a week if you give it that much time.
So how do we take advantage of this as internet marketers? Well, give yourself short deadlines. If it takes you 3 hours to write an article, you’re taking way too long to do it! When I’m focused, I can usually get an article done in 15 minutes. In fact, just today I wrote 3 blog posts in about 20 minutes total. This is because that’s about all the time I gave myself to do it!
Maybe you’re thinking to yourself that you aren’t good at writing. Well, part of that if probably because you’re thinking about it too hard! Honesty, it shouldn’t take you that long. And you’ll find that you get better at it as you do it more and more. But you’ll get better faster if you give yourself short deadlines to get things done.
Putting the Two Laws to Good UseWe’ve just learned two ways to make better use of time: first to identify the most important tasks, and secondly to give yourself short deadlines to get things done. By using these two laws together you can get a lot of things done each day.
Here are a few other tips that you can follow to make the most use of your time:
- Only check your email once or twice a day. Too many of us are addicted to checking our email (I’m guilty of this quite often as well!)
- Limit your information intake. Find those blogs or information sources that are good and read them as needed, but don’t spend time just browsing for information.
- Spend most of your time taking action, not reading!
- Actually schedule your business into your day. If you’re just waiting for time to work on it, it won’t ever happen.
- Have daily and weekly tasks, find a way to track these things to keep yourself accountable.
If you have any other tips, feel free to share them below!