Profitable action through effective time management ACCA members event
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Presentation delivered to ACCA members on profitable action and time management.
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Profitable action through effective time management ACCA members event
- 1. Profitable Action Through Effective Time Management 26th November 2013 Presented by
- 2. Reality of Business Today More... ...With Less • • • • • Quality Productivity Efficiency Business Competition • Time • People • Cost • Resource • Loyalty
- 3. £1440 Per day Conditions 1. No cheque book 2. No overdraft 3. No carry forward
- 4. Your Inheritance £1440 X Minutes Per day Conditions 1. No cheque book 2. No overdraft 3. No carry forward
- 5. Time Robbers Internal • Don’t delegate • Lack of planning • Confused responsibilites • Try to do too much • Lack of motivation • Procrastination • Make all decisions myself External • • • • • • • Interruptions Meetings Sorting out others problems Crisis management Too much routine work Other peoples deadlines E mail and paperwork Which ones do you fall foul of ?
- 6. Time Management Tools Time log Mon Tue Wed Thu Fri 8.008.15 am Meeting Travel etc etc etc 8.158.30 am Meeting Client focus meeting 8.308.45 am Travel etc 8.459.00 am Travel etc 9.009.15 am Project planning meeting etc 9.159.30 am Project planning meeting 9.309.45 am Project planning meeting 9.4510.0 am Coffee break Should I be doing this ? Could the activity be combined ? Should this be delegated ?
- 7. Is 60 minutes of uninterrupted time worth more in terms of achieving results than 15 ten minute segments ? Block Time
- 8. Block Time If you could create an extra 60 minutes per day what would you use it for ? 1hour x 5days x 4 weeks per month = 20 hours per month @ 8 hours per day = 2.5 days per month 2.5 days x 12 months per year = 30 days per year How can it be done ?
- 9. The Pareto Principle 80/20 rule •80% of decisions come from 20% of meeting time •80% of interruptions come from 20% of people •20% of the sales force bring in 80% of the business •20% of your product range brings in 80% of your revenue •80% of your results come from 20% of your activities
- 10. The Pareto Principle 80/20 rule Activity Vital Few 20 Result 4 80 Trivial Many 80 16 20 1 4
- 11. Do the important Things First Priority Lists Your Dilemma. 4 •BUSY WORK 1 •URGENT AND IMPORTANT 2 •IMPORTANT NOT URGENT 3 •URGENT NOT IMPORTANT
- 12. Tyranny of the Urgent Urgent I Important Crisis Deadlines Meetings Repairs PressingProblems III Not Important Phone calls Interruptions Mail Reports Drop-ins Not Urgent II Planning Clarifying Values Relationships Vision ProcessImprovement IV Trivia “Escapes” Junk Mail Busy Work
- 13. Tyranny of the Urgent Results Important Urgent Not Urgent I II III IV Stress Burnout Crisismanagement Always putting out fires Short term focus CrisisNot Important Management Out of control Feel victimised Vision Balance Relationships Control Few crises Irrisponsib -ility Get fired No results
- 14. Tyranny of the Urgent Urgent Our I Crisis Response Deadlines Important II Planning Clarifying Values Relationships Vision ProcessImprovement Plan Do it it Meetings Repairs PressingProblems III Not Important Not Urgent Phone calls Delegate Interruptions Mail it Reports Drop-ins IV Leave it Trivia “Escapes” Junk Mail Busy Work
- 15. Ask your staff some simple questions What is the problem? What are the causes of the problem? What are some possible solutions? What is the best solution?
- 16. Delegation Delegation exercise Why delegate ? Why not ? How do we do it ?
- 17. Delegation Process Perspectives 1 Identify the Need 2 Select the Person 3 Plan the Delegation 4 Hold a Delegation Meeting 5 Create a Plan of Action 6 Review the Plan 7 Implement the Plan 8 Follow Up
- 18. What will I do differently ? Time saving ideas sheet Pick 3 ideas that you can start on tomorrow Feedback
- 19. Profitable Action Through Effective Time Management 26th November 2013 Presented by