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Last Updated on February 7, 2018

Getting More Things Done Means Nothing When Nothing Great Is Done

Getting More Things Done Means Nothing When Nothing Great Is Done

It’s an unwritten law of the corporate world, that the better you work – the more responsibilities you’ll gain.

These responsibilities will typically come in the form of more tasks assigned to you, more projects to manage, and more people (clients, co-workers, etc.) to take care of.

You gain these extra responsibilities when people above you on the career ladder feel that you have the relevant knowledge, context and power to do things better than the average employee.

Despite your positive attributes and obvious capabilities, you may find yourself forever prioritizing tasks based on the dates they need to be completed. These dates could be requested by someone, part of a deadline, or something that your co-workers have agreed to.

Just for a moment, put your working life aside, and imagine that you have own business selling hot dogs. You started your business a few years back, simply selling hot dogs from a little food truck that you parked on the corner of a busy street.

    As your hot dogs began to sell, you found yourself beginning to get more and more customers.

      Eventually, business was so brisk that you had to hire a few members of staff to help you out.

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        However, it was at this point that you focus began to change from making and selling hot dogs, to training and mentoring new staff. Unfortunately for you, your newly-hired helpers weren’t as good as you at making hot dogs (despite the training).

          Still, your business was doing okay. As more people came to your hot dog truck, plenty of them asked for drinks too. So you decided it would be a good idea to make and sell your own lemonade.

            You spent several weeks tweaking your lemonade recipe until you found what you believed to be the perfect taste. You then began to make it – spending hours per day in the process.

              Sadly, when it came to launching the drink to your customers, you were dismayed to find that very few of them liked it. And because your new staff hadn’t be able to make the hot dogs as tasty as you did, fewer and fewer customers came.

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                Looking back, you can see that your initially successful business went badly off track. You were producing sub-standard hot dogs, and a lemonade drink that no one wanted. On top of this, you were spending a significant amount of your time just managing your staff.

                The above scenario is a good representation of what happens to most businesses and to the people working in them.

                Turn Things Around with the Little-Known ‘Time Pyramid’

                I’m guessing that you’ve never heard of the Time Pyramid. Few people have. However, it is a super-useful tool for instantly visualizing what you should be spending your working time on.

                Think for a moment about your own work, do you spend most of your time working on tasks with the greatest values? Most likely not, as the majority of people spend little time on things that have the greatest impact. (Think back to the earlier hot dog selling scenario.)

                The time pyramid of how most people spend their time at work looks like this:

                  As you can see from the image, tasks that fall at the tip of the pyramid is of the greatest value, or have the biggest impact when completed. The middle of the pyramid covers tasks that are important – but are still lower in value than those at the tip. Finally, the base of the pyramid is strictly for tasks with the lowest value or impact.

                  In reality, most people spend the bulk of their time on tasks with the lowest value. These tasks are like the lemonade making in the hot dog story – they can be nice to do, but often fail to move the needle in the right direction.

                  Are you wondering how to use the time pyramid to your advantage?

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                  Well, it’s a very good question, and one that actually has a simple answer. You just need to invert your existing pyramid like this:

                    Tasks with the greatest value that you currently spend the least amount of time on, become your priority. Middle tasks stay the same, and tasks with the lowest value that you currently spend the most amount of time on, are placed at the bottom of the pyramid – where they belong!

                    How to Use the Time Pyramid

                    When you begin to use the Time Pyramid correctly, you’ll instantly be able to see the tasks that need your immediate time and attention, and those that don’t. It’ll be surprisingly easy to minimize time spent on low value tasks, while maximizing time spent on those all-important tasks.

                    By making this simple, but dynamic change to your working pattern, you’ll quickly begin to reap significant rewards.

                    As an example for you, imagine that you work as a project manager. Before learning about the Time Pyramid, you found yourself spending the best part of your time in meetings, answering emails and dealing with administrative tasks. While all of these things are useful and needed, they stole your time away from actually working on managing projects. Upon coming across the Time Pyramid, you immediately saw the error of your ways. From that day on, you put your efforts into tasks that helped your projects to reach completion in the quickest and smoothest way possible.

                    It’s truly amazing how much more you can achieve when you spend the bulk of your time working on major tasks. Let’s see now how it’s done.

                    Maximize time spent on important tasks

                    Consider implementing things like time blocking (so that clients and co-workers can’t disturb you), scheduling time for important things, and booking meeting rooms for yourself (so you can focus fully on the tasks at hand).

                    Coming back to the hot dog selling example, time should have been allocated for thinking of ideas to improve and sustain the quality of the hot dogs.

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                    Minimize time spent on low value tasks

                    Choose to limit the time you spend on these tasks, and schedule specific times to complete them. You should also delegate tasks that aren’t your strength, or that will have more value if done by others.

                    For example, it’s very easy to get caught up with the endless emails that arrive daily into your mailbox. Most of these will not require urgent attention, so instead of trying to reply to them instantly, it would be better to schedule a period of time each day to go through them. By doing this, you won’t become a victim of incessant distractions.

                    In the hot dog selling scenario, it’s obvious that the boss should have delegated the task of making lemonade to someone who was genuinely good at it – or simply have bought existing high-quality lemonade.

                    Getting the Right Things Done

                    I want to wrap up this article by giving you a sample Time Pyramid that you can adapt to your own working situation. Let’s talk about the hotdog business again.

                    I assumed that the boss worked an average nine hours per day. This led me to plan the time this way:

                    • Select five hours per day dedicated to important stuff such as improving and sustaining the quality of the hot dogs, coming up with ideas on how to successfully expand the business.
                    • For the less important stuff, I chose three hours per day. This would be adequate for food preparation, training staff, etc.
                    • Finally, for the lowest priority stuff, I allocated just one hour per day. This time would be for things like ordering food and drink supplies.

                    I can’t state it enough: the Time Pyramid is an incredibly powerful tool. It will help you to immediately prioritize the tasks that really matter to your business, and within days – you’ll begin to experience positive and tangible benefits.

                    Featured photo credit: Vecteezy via vecteezy.com

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                    Leon Ho

                    Founder & CEO of Lifehack

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                    Last Updated on June 22, 2018

                    How to Nix Your Credit Card Debt in Less Than 3 Years

                    How to Nix Your Credit Card Debt in Less Than 3 Years

                    Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

                    By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

                    This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

                    Hint: there are ways that are easier than you think.

                    1. Consider consolidating multiple credit cards if possible

                    This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

                    It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

                    Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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                    Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

                    My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

                    Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

                    2. Try to pay the full balance you spent each month at the very least

                    You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

                    Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

                    If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

                    3. Pay extra when you can – every small amount counts

                    This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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                    It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

                    4. Create a plan on how to pay extra

                    Back to the main point, having this plan is giving you one less thing to think about.

                    This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

                    For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

                    Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

                    5. Cut out costs for services you do not use

                    If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

                    In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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                    6. Get aggressive about it

                    Consider these points:

                    Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

                    Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

                    Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

                    Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

                    7. Reevaluate your progress at set intervals

                    Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

                    By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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                    Finally (and most importantly)…

                    8. Keep trying

                    Do not get discouraged. Pushing it off will make it worse. Just keep trying.

                    Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

                    Start knocking out your debt today

                    The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

                    Featured photo credit: Pexels via pexels.com

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