6 Master Time Management Skills For Wealth Builders

6 Master Time Management Skills For Wealth Builders
Image – Pixabay (PD)

“Successful people are more concerned with pleasing results. Failures are more concerned with pleasing methods. Successful people do things that are goal achieving. Unsuccessful people do things that are tension relieving. Successful people do the things that are hard and necessary and important. Unsuccessful people, on the other hand, prefer to do the things that are fun and easy and which give immediate enjoyment.” — Brian Tracy, “The 21 Secrets Of Self Made Millionaires”

Time management is MISSION CRITICAL to getting rich. Here are six “keys” – master these and watch your productivity soar:

1: Realize That You Do Not Have Forever

In life, some people act as though they have forever. This is a great mistake for an entrepreneur or would-be high achiever in any field. You don’t have forever. It may be more fun to relax and let the day drift by, but if you want to get somewhere, you have to be able to cut to the chase. This doesn’t mean recklessness – but efficiency and motivation are paramount. If you wish to become rich, there is simply a lot to do. Not everyone will understand – and they may criticize you; but a person who is on a mission simply gets on with it. There isn’t time to explain to doubters.

2: Prioritize

It’s critical to choose well how to use your time. Every single moment, you have a choice. Will you focus only on the things that are most important, or will you do any old thing?

Those who choose to do the things which lead to results, are going to get ahead of those who drift or keep busy with inconsequential tasks.

In order to be successful, some sacrifices must be made. That doesn’t mean that you should punish or hurt yourself – it just means that it is to be understood that the actions that lead to success and wealth are not necessarily going to be those that are the most pleasurable in the moment. It is about being results oriented. “Delayed gratification” is one of the master keys.

3: Learn To Say No

There will be psychological pressure to overcome. Those who have taken the easy road, will sometimes attempt to discourage others from taking action. They may not even really be aware that they are doing it. Or they may simply want to enjoy your company. Come to the beach with us! Have a drink with us! Why do you work so hard? Can’t you enjoy life? You don’t know how to have fun! Don’t be so boring – you’ve got to learn to live!

I’ve heard it all before. Notice the subtle or not-so-subtle “put down” in statements such as the above. Having missions to accomplish is nothing to do with not knowing how to have fun. The successful know how to concentrate – and know that when their efforts pay off, they can reward themselves in far greater style later. They prioritize well, and disregard the opinions of the rest.

4: Discover And Fix Your “Time Leaks”

Where are your “time leaks”? The best way to find out is to keep a detailed notebook, for a week, of how you spend every minute of your time. You will be shocked at how much of your time was spent on things that are not related to your actual goals. Also, you will learn how long things actually take. Make note of all the things that slowed you down, of all the areas in which your calculation was wrong.

This is an incredible exercise, most highly recommended for anyone. You’ll be astonished when you see how you actually spend your time – it’s amazing just how much is wasted without realizing it.

It takes a true warrior to get real control of how time is spent. Doing the above exercise might seem over-analytical, but it can give you a revelatory deep insight into what is pulling you around – and help you become much more powerful.

5: Allocate Time Accurately

You will also learn that things almost always take longer than you think they are going to. To take a simple example, people often estimate the amount of time a journey will take, and then in reality it takes much longer. I know many people who are predictably late, every time. One person I know, I jokingly suggest to people to add three hours to any appointment time that he makes!

But it is not actually that far from the truth.

People fail to budget for all the small extras and incidents that cause things to slow down. Traffic, finding the keys, going back for a forgotten item, unexpected phone calls, getting gasoline, reading the map, taking a wrong turning, finding a parking spot, putting the coins in the meter, walking from the car to the venue, stopping for tea… all these things and so many more, eat up little amounts of time, and they can easily make you half an hour or an hour late.

Being late can simply lead to work slowing down and taking a little longer. However, lost minutes can also easily lead to missed connections and appointments…… which can end up costing hours, days – or even total disaster.

Each day wasted and journey wasted costs a significant amount of money. In major projects these costs can be huge.

I have a rule of thumb that I apply when traveling for work. When working on event production, which I have done much of in the past, my associates and I applied the “extra hour theory” in order to increase our chances of being on time. This simple formula works fantastically well, and simply states that we form an estimate of how long it will take us to arrive at the venue and set up – and then add an hour to our estimate.

The extra hour always gets eaten – usually by some unforeseen event. The extra hour is a worthwhile investment, to save us from a perpetual state of panic – which itself can lead to further mistakes.

Allow yourself enough time to be on time. And in case you are early, have something prepared that you can do, so that time is not wasted. In my case, I simply bring the laptop wherever I go. I can open it and continue with my work wherever I am – and the total amount of work I have done in what would otherwise have been wasted time, is huge.

6: Move Faster

I do not advise reckless driving, which at best might save you a few seconds and at worst might cost you your life (or someone else’s!) But in most other circumstances, you can be more successful simply by moving faster. People who get on with it are going to be immensely more successful than those who go at a leisurely pace.

“A person who is a master of their time is a master of their life.”

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6 Master Time Management Skills For Wealth Builders
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