5 Tips To Help Make Better Use Of Your Time
By Paul Esajian on December 8, 2017
It seems like everyone is always stressed out. At the end of the day all we want to do is have a drink, relax and decompress. The main reason for our stress is not with our performance but rather trying to fit everything in an eight-hour work day. The best real estate investors understand the old cliché about working smarter rather than working harder. Hard work is always important but if you are not making good use of your time you will be frustrated and disappointed with the results. If we are being honest we often waste more time during the day than we care to admit. An email or text will send us off on a new path and the next thing you know an hour has passed. By managing your day and making better use of your time you will be more efficient and ultimately get more done. Here are five tips to help make better use of your time.
- Set goals. As a real estate investor, it is important to keep a steady flow of new deals coming in, deals you are working on and deals going to closing. The minute you let your foot off the goals you will have major stretches between deals. One of the best ways to manage your time and stay motivated is by setting goals. Every Sunday night or Monday morning you should list the things you want to accomplish in the next week. This could be anything from meeting two new contacts to getting one new deal. If you are working on a rehab project you should set a goal of what you want accomplished by the end of the day on Friday. Without goals you may get stuff done but it won’t be at the pace you need to be successful.
- Make lists. There is something very powerful about the to-do list. Some of the most successful people in every business make, and diligently follow, lists. As simple as it sounds putting something down on paper gives you a roadmap for what you need to accomplish. Every night before you go to bed you should write out a list of what you want to do the next day. From there you can hit the ground running the minute you wake up. You won’t waste time in the morning as you are drinking your coffee thinking about what needs to be done. You will get right into your day and by doing so you will knock off a few tasks first thing in the morning. This allows you to be more efficient and not waste any time. As your day progresses you can evaluate your list and make any necessary changes, but you will have a guide and a plan to revert back to.
- Major task in morning and afternoon. The best time to accomplish a major task is usually first thing in the morning. Our brains have just finished resting and there is minimal distraction. Even if you have kids you need to get off to school or other morning obligations there is still time to get a major task accomplished. The key is getting up an hour earlier in the morning to make a plan of attack. As soon as you get the kids to school you should tackle the most pressing item in your day. The longer the day goes the harder this is to accomplish. We usually end up procrastinating or thinking about this and not focusing on what we are doing. Tackle the hardest thing in your business first and go from there. You should also plan on doing a major task after lunch as well. If you can accomplish something major in the morning and in the afternoon, you will have a pretty successful day. Don’t let your morning spill over to your afternoon or your post lunch lethargy stop you from taking on a major business task.
- Avoid efficiency busters. As we stated in the opening we are often the victim of self-sabotage. We may think we are working hard but in reality we are just doing busy work, or not even working at all. There should always be a work/life balance but when you are working, you should really work. Five strong hours is always better than eight half hearted ones. Where most people get in trouble is with not eliminating distractions. If you are researching a property or planning a pitch to a homeowner put your phone away or turn it off. As difficult as this may be to believe you can get by without your phone for an hour. You should also cut down on the time spent checking email. If you read and react to every email that comes in you will never get anything done.
- One thing at a time. The concept of multi-tasking sounds cool but is often more damaging than efficient. Just because you can handle three things at once doesn’t mean that you should. You are much better off doing one thing all the way to completion rather than shifting gears every time your phone rings. Obviously, there are times when something truly pressing will pop up but for the most part the other things are just distractions. If you can manage to focus on one item at a time you will pleased with your results.
How you manage your time often dictates your day and determines your success. Use these five tips to help get your day on the right track.