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2. Employ the 80/20 Rule for Time Management
If you’ve ever taken a business class, then you know about the 80/20 rule or the Pareto Principle. If you don’t know what it is, the Pareto Principle is a theory developed in 1906 by Italian economist Vilfredo Pareto that states that 80 percent of the output from a given situation or system is delivered by 20 percent of the input. So, how can this rule be implemented to help you better manage your time and increase your productivity? When it comes to time management, it involves completing 80 percent of your tasks using just 20 percent of the time you have.
The principle advocates delegating those incredibly time-consuming tasks, but that create less revenue for your business than other jobs. Doing this will allow you to focus your time and energy working on those tasks that will bring in more money for your business. When prioritizing your to-do list, you have to remember that your energy levels and productivity tend to fluctuate throughout the day. For you to successfully master the 80/20 rule, you need to make sure that you focus on completing the essential business tasks during the times that you are most productive.
You can use the 80/20 rules in several different ways to help you increase your productivity. If you look closely at your to-do list, the chances are there are only a few tasks that are tied to important issues. While you may find it satisfying to cross off a large number of the smaller issues, the 80/20 rule suggests that instead, you focus on the few items that are more important, and that will generate the most significant results for your business. While your to-do list might not be much shorter at the end of the day, you will be practicing effective prioritization.
3. Manage Your Energy, Not Your Time
One way you can manage your time and increase your productivity during the day is by managing your energy rather than your time. If you know that you are more productive in the mornings, you can plan to accomplish the work on your to-do list that requires the full extent of your competencies in the morning, rather than trying to achieve them in the afternoon when your energy might be lagging. This frees up your afternoons to schedule the work that doesn’t need as much of your brain power to accomplish when you know your energy levels are lower.
If you typically manage your time by creating and prioritizing to-do lists and scheduling dedicated time to each of those tasks, you know how easy it is to get derailed during the day. A single conversation or email can quickly break your focus or completely rearrange your day. By managing your energy, you can bring your best performance to any activity that comes up. You can achieve far superior results over the incremental gains that you might get from other time management techniques.
Using this method of time management relies on your understanding of what points in the day you are optimally ready to work. According to Alex Pang, the author or Rest, people are most productive when they work in four-hour intervals. This means that you need to make sure that you schedule your essential work within the four hours that you are at peak performance.
4. Find Ways to Automate
A recent survey showed that entrepreneurs and business managers spend 68 percent of their days working on administrative tasks. That’s a lot of time to work on something that doesn’t directly contribute to the growth of the company. The best way to bring that amount of time down is with artificial intelligence. AI can now automate many processes that are necessary to run a business, including administrative tasks. For instance, chatbots can handle thousands of queries a day without involving humans. Then there’s Bookmark’s, Artificial Intelligence Design Assistant, AiDA which can help you design a website within minutes, eliminating the most painful process of creating a company website.
When you can remove these menial, but necessary tasks from your daily schedule you can free up your time to focus on more critical tasks that will help you grow your business and increase profits. Also, AI is expected to be used to find solutions to the more complex business processes that you may be faced with completing. This will significantly reduce the amount of time that you spend making important business decisions, which in turn will significantly improve your business efficiency.
According to a recent survey, 78 percent of entrepreneurs said that in the future, they would trust the advice that they receive form artificial intelligence systems in making decisions. In addition, there are a ton of time tracking applications that are powered by artificial intelligence that can help you complete essential tasks on your daily and weekly to- do list. These time tracking tools are highly useful in helping you increase your productivity and achieve your goals.
5. Stop Multitasking
Many people believe that multitasking is an essential skill that you have to master if you want to be successful. While it might seem like a great way to get a ton of things done at once, research shows that our brains aren’t nearly as good at multitasking as we might think. Some researchers suggest that our productivity is reduced by 40 percent when we try to multitask. Unfortunately, when we try to multitask, we are quickly shifting our attention and focus from one task to the next, which makes it more challenging to tune out distractions and can create mental blocks that ultimately slow you down.
When you try to work on several tasks at once, you can lose the focus that is required to complete the tasks adequately. Switching between multiple tasks breaks your concentration, which ends up requiring more time to come back and work on a job where you left off. When you bounce from one task to the next, you waste more time because your brain has to refocus on the essential activity that must be completed. Multitasking can also lead to your brain function becoming overstimulated, which can lead to memory impairment. When you have too much information inundate your brain at once, your mind can’t differentiate between what is essential and what isn’t which can negatively affect your memory.Other Details
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