The Pareto Principle, named after Italian economist Vilfredo Pareto, proposes that most things in life (effort, reward, output) are not distributed evenly.
When applied to time management, this 80-20 rule suggests that 20 per cent of your daily tasks produce 80 per cent of your daily results. In other words, we tend to waste valuable energy due to poor use of time.
Effective time management is vital to your success as a real estate salesperson or broker. Because this is not a nine-to-five profession, you must learn how to structure your time wisely. Otherwise, you will not accomplish those goals you have set out for yourself.
Here is a top 10 list on how to use your time more effectively.
1. Plan ahead – At the end of each day, prepare a ‘to do’ list for tomorrow, and arrange each item in order of priority – i.e., identify and complete the urgent task first.
2. Group tasks – An effective way to save time is to group together similar tasks, such as prospecting, answering clients’ queries, or paperwork.
3. Organize your workspace – Determine and gather what you will need to accomplish a task. Put these things away once you have finished. Cluttered workspaces can lead to big messes.
4. Keep a ‘notes list’ – During the course of the day, record items that come up that require you to take action.
5. Be flexible – Allow for and expect interruptions, but don’t allow these to take control. Get back to your tasks as soon as possible.
6. Set timelines and stick to them – Don’t postpone tasks that seem unpleasant. Work for 10 or 15 minutes at a time on them. You may want to divide a large task into several small tasks, which will give you a sense of accomplishment as you complete each step.
7. Know your peak time – Schedule your most difficult tasks for that part of the day when you’re most alert and at your best.
8. Do not multi-task – In other words, do not answer an email when talking on the telephone. Focus on what you are doing.
9. Take advantage of quiet times – This is a good time to catch up on routine tasks that have slipped behind or get ahead on your work.
10. Identify and avoid time wasters – Time wasters include socializing with colleagues or doing personal errands during work time. It is okay to take a break, but do so at the end of each task.
For More Information
For more information on effective time management, including maintaining a balance between your professional and personal life, and setting priorities, please consult our A Mentoring Kit for New Salespeople: Training For Success at http://www.orea.com/index.cfm/ci_id/14362/la_id/1.htm. This is a valuable resource for both brokers and salespeople.
Do you have any other tip on effective time management? Let us know.