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Are You Using Time Differently In The Knowledge Economy?

Are You Using Time Differently In The Knowledge Economy?

The saying used to be that “time is money,” with the thinking going that putting in more time will guarantee good results. A common example of this is the 10,000 hour idea put forth by Malcolm Gladwell and others. In short: if you want to master something, you need 10,000 hours of repetition at it. This would directly tie “time” (the hours) to “success” (mastery), but unfortunately, the 10,000 hour theory has been debunked by many.

Here’s a micro example: sometimes, a person will study for days and days (time) for a test, then do poorly (no success) on the test. How is this possible?

It is because results and success have less to do with time, and more to do with how productively you’re using the time — namely, how much attention you’re giving to receiving information and applying it appropriately.

The history of time

In the then agriculture-driven economy, time management wasn’t so important. Most people spent their days farming or tending to animals. Why would anything really need to be tracked, per se?

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Soon, the Industrial Revolution moved more people off farms and into factories. Now there was a reason to track time. The evolution of the 40 hour work week (around the mid-1920s) made time a huge commodity. Time was, essentially, the new money. To get paid your hourly wages (actual money), you had to track time. Your value was quite literally tied to the hours you put in.

    The current economy has been described often as “The Knowledge Economy.” It’s much less about the number of hours put in (although people still work a lot), and much more about the amount of knowledge you can acquire and transform into something better.

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      The problem: many management approaches still are focused on the time side. Consider the idea of “seat time.” Most places in the first world are WiFi-enabled, so many Knowledge Economy workers can work from anywhere. They can access emails and files via the cloud. But lots of bosses are obsessed with “seat time,” or seeing the employees physically in a place near them. It doesn’t make sense, but it’s rooted in the “time is money” economy.

      Right now, many companies are focused more on employees being in a specific place for a specific period of time, instead of how to increase focus, energy, and delivery of high-impact tasks. And what’s worse: the “time is money” attitude stresses out employees majorly.

      Manage your energy and attention, not your time

      For as long as we can predict, time will continue to tick on at the same rate, but what actually fluctuates on a day-to-day basis is how much energy and attention you have — in the Knowledge Economy, that’s what makes or breaks how productive you are, and more important, it’s something you can actually control.

      Time is a necessity of work and of nature, but as far as productivity is concerned, it should merely be the backdrop against which you work.

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      Consider the sheer idea of the 9-to-5 workday. Today, when productivity is about what you accomplish and not how much you produce, a nine-to-five workday makes as much sense as diligently tracking your time out on the farm. After all, what if your Biological Prime Time falls when you’re not working, and you have the most energy from 6 to 9 a.m., or from 7 to 11 p.m.? Or what if you have trouble focusing because you’re trying to multitask on a million things at once? Or what if you’re constantly bombarded by distractions and interruptions?

      People — all workers — are different. And if the goal is productive output, we need to understand and respect that.

      When we schedule time for something, what we’re actually doing is simply deciding when we will invest our attention and energy into the task. That’s where time management should fit into the productivity equation. Managing your time becomes important only after you understand how much energy and focus you will have throughout the day and define what you want to accomplish.

      It’s much less about the time involved, and much more about the output.

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        So how can we work less and get more? 

        If your workplace has flexible working hours, make use of that. Have enough rest and come in ready to work so that you are at your optimum performance. During the day, take short breaks to disconnect. The optimal human ratio for work is 52 minutes on, 17 minutes off. 

        Schedule, but schedule differently: I schedule my entire day, and I’ve found that doing so makes me incredibly productive—especially when I form a strong intention about what I’m going to get done. But I only ever plan out my day after I account for how much attention and energy I will have, and most important, what I intend to accomplish.

        Consider “focus days” where your entire focus is high-level, big projects and new learning. Block your calendar out so no one can throw meetings on it and stir up distractions.

        Remember that the goal of the Knowledge Economy is different from the goal of the initial Industrial Economy. Now your time needs to be productive, not just a set amount of hours, so move towards that.

        Featured photo credit: http://www.theindependentbd.com/printversion/details/73926 via theindependentbd.com

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        Brian Lee

        Chief of Product Management at Lifehack

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        Last Updated on November 24, 2020

        50 LinkedIn Influencers To Follow, No Matter Your Industry

        50 LinkedIn Influencers To Follow, No Matter Your Industry

        LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

        Job Search Experts

        You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

        1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

        2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

        3. Dr. Marla Gottschalk will help you make an impact in a new job.

        4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

        5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

        Management Experts

        They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

        6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

        7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

        8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

        9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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        Productivity Experts

        By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

        10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

        11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

        12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

        13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

        Marketing Experts

        14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

        15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

        16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

        17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

        18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

        19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

        20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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        21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

        22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

        23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

        24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

        25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

        26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

        Personal Branding Experts

        Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

        Here are some personal branding experts from LinkedIn to improve your own brand.

        27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

        28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

        Other Notable Experts to Follow

        29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

        30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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        31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

        32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

        33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

        34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

        35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

        36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

        37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

        38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

        39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

        40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

        41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

        42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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        43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

        44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

        45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

        46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

        47. Rita J. King connects science, technology and business.

        48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

        49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

        50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

        These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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        Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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