As one of my mentors, Barbara Hemphill, is fond of saying, "There's a big difference between activity and productivity."
A couple of years ago I did a little experiment when I was feeling overwhelmed by a particular project that was causing me a lot of anxiety. I wanted to find out whether it really was consuming 'every waking hour,' or whether it just felt that way because of the associated stress. I also wanted to figure out whether I was merely spinning my wheels or producing something worthwhile. I started tracking the time I spent on that project against time I spent working on other aspects of my business. Then I looked at the financial return on my investment of time. This data objectified the situation and helped me to make some important decisions.
For that project I just recorded the hours on a note in Outlook, but now I can get fancy…
My fabulous virtual assistant has put me on to a powerful tool that makes clocking time spent on various activities a breeze. MyHours.com provides an online system that is easy to set up for an individual or for a company and works like the good old fashioned time card that I used to punch in and out of a clock at my part-time job when I was in high school.
Here's how I'm planning to use it:
Barbara recently challenged me to get very specific about how I want my life to look, down to the number of hours per week I want to be working. As an entrepreneur, this can easily get out of control! I told her that my goal is to be working no more than 30 hours per week on the things I love doing, and to delegate the rest to people I trust.
The trouble is, I have no real metrics on my current workload. How many hours per week do I work now? I know it's way more than 30, but it's cold hard facts we need in order to measure progress. Where exactly does the time go? I have a pretty good idea because I block my time for various activities, but I don't really keep track of certain 'bonus' work times like late at night when the kids are sawing logs.
Lawyers, accountants and other professional services types who bill clients by the hour are completely accustomed to punching in a client code before they pick up the phone, crunch numbers or open a document they're drafting. Their payroll depends upon it!
This approach can be valuable for any individual or any business looking to understand where the time is going. If you struggle with delegation, tracking your activities for a week or two could be very revealing, particularly if you are spending a big chunk of hours on things that don't add real value to your business, your career, or your life. Information is power – power to change and improve.
I LOVE the MyHours reports I get every month from my virtual assistant. With no significant effort on her part beyond clicking 'start' and 'finish,' then typing a brief note about what she worked on, she can provide me with a detailed look at where my money goes every month, minute by minute. I like that. A lot.
We've started using MyHours throughout the company, starting with yours truly!
How about you? Would keeping track of where your time goes help you decide to delegate better, reach a goal, or monitor payroll more closely?
Here's the best part: MyHours is absolutely free. Check it out: MyHours.com
Filed under: Business Organising, Productive Routines, Time Management, Work/Life Balance | 2 Comments »