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The Most Powerful Time Management Question You’ll Ever Ask

September 29th, 2015

clockSusan is a business owner who loves to innovate.

She generally makes good business decisions, except when she’s under pressure. A week before the most important trade show of the year, Susan decided to create a holiday-themed video. She spent several 20-hour days working on the video, pulling staff away from important show preparation.

At the trade show, the video got only passing glances from attendees. Susan was too exhausted to work the company’s booth effectively and hadn’t prepared her staff to step into her role. The company’s show orders decreased 30 percent from the previous year.

Maybe you’ve been in Susan’s shoes. You have a significant project to complete, a month-end quota to meet or a looming deadline. Just thinking about the work overwhelms you, and your knee-jerk reaction is to focus on something else – anything else. The decision you make in that moment will move your business forward, or set it back.

You can break this bad-decision cycle with one simple question:

What is the best use of my time right now?

Here are three simple ways to manage your time for the results you want.

Reviewing Your Goals

Write down your goals in an easily accessible format. Two options are to store them on a mobile device or keep them on a card in your wallet. As you review your goals, ask yourself: What is the best use of my time right now? Identify actions that will move you toward your goals.

Setting Your Daily To-Do List

Chances are that the tasks on your daily to do list exceed the time you have to accomplish them. Start by categorizing your list by:

  • Tasks that maintain your current business
  • Tasks that grow your business
  • Tasks that simplify your business

Review the tasks in each of these categories and ask: What is the best use of my time today in each of these categories? Then select the most important items for the day.

Using the Gaps in Your Schedule

Every business day has schedule gaps. Some are intentional windows of time between meetings; others take shape due to cancellations or unexpected adjustments. Examine how are you using those gaps in your schedule, and ask yourself again: What is the best use of my time right now?

Fifteen minutes between meetings can be a coffee run, or a time to connect with a high-value customer. Having lunch with a friend could be time better spent having lunch with a new business contact. That 40-minute task could be halfway to completion in 20 minutes

Deciding to take action is not the issue. Deciding to spend your time wisely is. Using this simple, powerful question on a daily basis can help you manage your time for results.

Reinventing TGIF: Top Business Development Activities for Summer Fridays

July 9th, 2015

There are nine Fridays between the Fourth of July and Labor Day. How much new business will you generate with yours?

The idea of working on Fridays in the summer seems counterproductive. It can be easy to talk yourself into not working or leaving early: everyone’s on vacation; no one’s serious about business on Fridays.

Here’s the surprise: research indicates that taking Fridays off during the summer can be counter-productive. In a survey conducted by Captivate Network, fifty-three percent of those surveyed said that reduced hours on Friday lowered their productivity and increased their stress. Leaving early on Friday and dreading Monday all weekend is the ultimate waste of time.

Summer Fridays are the time to work smarter, not harder. Take advantage of the relaxed vibe and the slower pace with these tips.

Schedule Friday Morning Meetings

Busy executives wind down on Fridays and their calendars are often more open than other days of the week, especially during the summer. Meeting at a breakfast or coffee spot that is convenient to your prospect’s office can provide a brief change of venue without taking up much time. This approach can be especially effective as a follow-up conversation to an initial meeting. Nine Fridays? That’s nine opportunities to move nine potential buyers closer to a close.

Do Lunch, Get an Introduction

Summer Fridays are an ideal time to schedule lunch with former colleagues or business associates. Always confirm that you’ll meet at their offices, and ask in advance if they’d be willing to introduce you to their boss or other executive at the company that you’d like to meet. When you meet your new contact, be sure keep the conversation brief and informal. Remember, it’s not a sales call; it’s an introduction. By the end of the summer, you’ll be back in touch with nine colleagues and you’ll have nine new business contacts.

Send “Three by Three” Emails

Fridays are also a good time to refine and test your email messages to prospects. Pare yours down to three sentences, then test sending a few by 3:00 p.m. on Friday to three types of prospects:

  • New prospects you haven’t met
  • New contacts you have recently met
  • Contacts you know but have not approached as prospects

The typical business executive receives over 600 emails a week. This inflow slows down as the work week closes, and your email may get more attention on a Friday afternoon than on a Tuesday morning. 

Clear Your Desk and Your Head

When I worked for a global consulting firm, we had an unwritten rule: don’t leave the office on Friday until your desk is clean and your week ahead is planned. It seemed restrictive at the time, but it’s a practice that pays big benefits: it frees up your head space for weekend pursuits. Nothing boosts productivity like coming back to a clean desk and a game plan on Monday morning.

If you work smart on Fridays in the summer, you won’t be alone. But you will be ahead of the competition.

Letting Go: Delegating for Business Growth

May 28th, 2015

Ann started her company from her dining room table fifteen years ago, and gradually grew it into a nationally recognized brand in a specialty market. Like most business owners, she wore many hats in the early years. She wanted to grow the company and knew it was time to stop doing everything herself.  Ann learned how to delegate the hard way – by not getting the results she wanted.

Ann announced to her team that she was only going to focus on the activities that she enjoyed: managing the company’s social media presence and creating new products. She told them to figure out how to deal with “everything else.” Within a few weeks, Ann was inundated with questions from her team on everything from how to deal with distributor relationships and customer fulfillment issues, to partnership opportunities and production adjustments. 

Here’s what Ann learned about delegating for business growth.

Don’t Delegate by Default

Ann defined her own responsibilities without clarifying her team’s responsibilities. Before you delegate, ask yourself what you expect your team to do, as well as what you intend to do.

Let Go of the Right Things

Ann decided to focus only on what she enjoyed doing, but letting go of what she didn’t like doing may not grow her business. It’s a fact of business ownership – doing what you like to do is sometimes different from doing what you need to do. You can explore your own want to/need to activities with these questions:

  • What do I enjoy doing most?
  • What activities do I need to do myself, and why do I need to do them?
  • What activities do I need to be kept informed about, and what information do I need to stay informed?

Delegate to the Right People

Ann didn’t match specific activities with specific team members’ strengths. Assigning additional work to a team won’t compensate for a lack of specific skills or expertise. If you don’t have the right people on your team, delegating for growth requires hiring or outsourcing.

Delegate Authority and Accountability

Because Ann didn’t specify what “everything else” meant, her team brought everything back to her for resolution. Effective delegation requires three elements:

  • Assigning specific activities to specific team members
  • Empowering them to make specific decisions
  • Clarifying what results they are expected to achieve and how to keep you informed

When you’ve built your business from scratch, delegating can feel strange and uncomfortable at first.  You can make it easier by applying Ann’s lessons before you delegate for growth.