April
2004 ********************************************
IN THIS ISSUE
Welcome
Article: Time Management
News and Announcements
Contact Information
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WELCOME
To create a growing business you must stay in action and put
time, energy and attention on the things that will generate the
results you desire – in other words, more clients! Why is
this so hard to do when it seems so obvious?
Virtually all professionals struggle with time management. Many
of my clients tell me week after week, "There just aren't
enough hours in the day." OR "There is never enough
time."
And for those who are basing their business from their homes,
scheduling and managing work time is all the more difficult.
In my work with professionals, I have found that a clear and proactive
weekly schedule can help you stay in action and focused on the
key areas necessary to build a thriving practice.
If you are one of those time-starved professionals, try this four
step time management system and see if it makes your week run
more smoothly. This month I share an overview of a Time Management
System that has worked for many professionals. As you read through
the steps, think about how you can take the suggestions and create
a customized weekly schedule that works perfectly for you.
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FOUR-STEP TIME MANAGEMENT SYSTEM
STEP 1: Identify Your "Big Rocks"
This concept is derived from Stephen Covey's training in time
management. He uses rocks and sand as a metaphor for the things
we need and want to put in our schedule. He demonstrates that
by first filling a bucket with "big rocks," you still
have room to add sand and fill in the crevices.
The "big rocks" represent your most important activities
(even if they are not urgent). The sand represents less important
activities, some of which may be time critical. The concept is
that if the sand is dumped into the bucket first, the more important
"big rocks" will not fit. (And he displays this very
effectively in his seminars.) When the big rocks are placed in
the bucket first, you still have room for the sand, but NOT the
other way around.
To create an effective schedule that will support you in growing
business you need to identify and focus on your "big rocks,"
and not spend too much time on smaller, administrative-type items
that do not generate results and revenue.
I have found that for many professionals, the following areas
comprise some, if not all, of their "big rocks."
PRACTICING YOUR CRAFT - The actual time you coach,
consult, practice law, prepare tax returns, or whatever it is
that you “do” for a living. This includes preparing
for calls or meetings, post-call follow-up, drafting
documents, etc.
NETWORKING - Going to networking events with
the idea of building relationships that will lead to business.
EXECUTING MARKETING STRATEGIES - Such as speaking,
sending out a grassroots marketing letter, making follow up calls,
forming a strategic alliance, etc.
COMPLIMENTARY OR REDUCED FEE CONSULTATIONS –
Providing a complimentary or reduced fee consultation to secure
new clients.
CONTINUING EDUCATION - Taking additional training,
reading, going to seminars, etc.
ADMINISTRATION - Answering/sending email, billing,
filing, aperwork, etc.
WRITING/CREATING - Such as newsletters, articles,
working on programs, etc.
BUSINESS PLANNING/STRATEGY - Setting goals, creating
plans, brainstorming ideas, etc.
Using the above list as a guideline, what are your "big rocks"?
What are the areas you know you need to focus on in order to build
the business you desire?
STEP 2: Create Your Time Allotment
Next, determine how many hours you have each week to dedicate
to your business and assign appropriate blocks of time to each
category.
Note: This is highly contingent upon where you are as a professional
in your field and the size/scope of your practice/business.
As a GENERAL rule, however, I suggest that if you don't yet have
a full practice, MOST of your time should be dedicated to MARKETING
ACTIVITIES (including executing your strategies, networking, complimentary
consultations, etc.). As you gain more clients and your practicing
your craft” time increases, your marketing time may decrease
proportionally. Again, this is a general rule. Please note however,
that your time in marketing will never be zero, and will rarely
fall below 20% of your total time.
EXAMPLE:
Time allocation for a full-time coach who has 8 clients and wants
20.
CATEGORY %% HRS (40 total)
Practicing Craft 20% 8
(coaching)
Networking 10% 4
Executing Marketing 25% 10
Comp Consultations 10% 4
Continuing Ed. 5% 2
Admin 10% 4
Writing/Creating 10% 4
Biz Planning/Strat. 10% 4
This is a general example so, whether you are a coach or other
professional, please do not feel compelled to match these targets
exactly. The key is to become more productive and effective with
your time by focusing on and doing the important things!
STEP 3: Schedule Your Time
Next, you want to block out times in your calendar (ie: your daytimer,
Palm Pilot, etc.) for each area. I recommend you do this weekly.
This will then become your "ideal" schedule. Your goal.
Your target.
Not every week will perfectly match the schedule you create, in
fact most will not! That's okay! But if you have a plan and do
your best to stick with it you will be a lot better off than if
you had not created a schedule to begin with.
STEP 4: Implement/Measure/Modify
Once you create your blueprint, it is important to commit to your
schedule and strive to implement it the best you can. During the
week take note of what is working and what is not. Make the appropriate
adjustments and you will begin to feel great about your schedule.
As an example, let’s say our professional coach from the
example above LOVES doing complimentary consultations on Fridays,
so he blocks out 4
hours on that day. He HATES admin, so he dedicates the first hour
of every day to that, as he is a "morning person" and
wants to get it out of the way. On Friday afternoons, as he eases
into the weekend, he loves to write and
do business planning. It took him time to realize these things
and now he has a schedule template that ensures results and is
fun for him!
Success in Time Management requires dedication and commitment.
The first step is to commit and at least get things scheduled
and then dedicate yourself to getting a little better each week.
Good luck and keep me posted on your results!
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NEWS AND ANNOUNCEMENTS
Focus Group Participants Wanted! Any small business owners out
there frustrated and wasting precious time trying to manage/make
your computer systems work? If this sounds like you (and it certainly
is me some of the time!) let me know and I’ll put you in
contact with the owner of a company who is running several focus
groups on just this subject. Come share your computer systems
nightmares and war stories while helping this company perfect
the design of a business whose mission is to solve these problems.
It’s also going to be a great place to network with owners
of other small and home-based businesses! Interested?
Give me a call at 858-566-5585 or email at Barbara@Rainmaker-Strategies.com.
Booklet Details.
To purchase your copy of my booklet,
Business Development: 97 Quick & Easy
Tips For Lawyers, go to my web site
at www.rainmaker-strategies.com
or send me an email at
Barbara@Rainmaker-Strategies.com
and I’ll be happy to process your order.
Cost is $5.00 for a single copy (plus
tax where applicable and shipping).
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CONTACT INFORMATION
Barbara Nichols Mencer
Rainmaker Strategies
Barbara@Rainmaker-Strategies.com
www.rainmaker-strategies.com
If you’ve enjoyed this article and learned a valuable
business-building tip, please feel free to forward
this newsletter to your friends and colleagues.
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Copyright 2003, All Rights Reserved. Reproduction
in whole or in part without permission is prohibited.
