⏰ How to manage time like a CEO

🎄 Every entrepreneur wants one thing during the holidays….

Time.

Between Thanksgiving, Black Friday campaigns, traveling, crazy inlaws, etc - time is the one thing we need but can’t ask for.

But as thanks for joining our Profit Snack community…

I’ve created a cheat sheet of time-saving hacks from some of the top CEOs in the world.

Not only is this extra helpful during Q4, but it can be used year-round to boost productivity. And in the nature of saving time…

It will take you less than 5 minutes to get through it all.

With that said, let’s get to it.

  • 📈 The Pareto Principle

  • 💰 Spend More, Make More

  • Time Tracking

(4 min 41 sec to go)

📈 The Pareto Principle

In “Sell Like Crazy”, CEO Sabri Suby talks about The Pareto Principle.

AKA the 80/20 rule.

Essentially, it means that 20% of your input creates 80% of the result.

Ex:

  • 20% of the roads cause 80% of the crashes.

  • 20% of the customers create 80% of the sales.

  • 20% of the work you do, leads to 80% of your revenue.

ALL of your time should be spent on the 20% that drives revenue.

Here’s how to find your 20%:

  1. List out every task you do in your business from reading emails to strategizing.

  2. Find out how many activities would be 20% (let’s say it’s 5 tasks)

  3. Find 5 tasks that directly produce the most revenue and that would be most difficult to hire for.

  4. Either get rid of the other 80% or hire someone who can do them.

For these next few weeks, you’ll have some non-business-related stuff on your list. That’s ok.

Find the tasks that are nonnegotiable, slap them on your list, and adjust after January.

The bottom line: Have your list of business and holiday tasks. Anything that’s not on your list is a ‘no’ or will be dealt with in the new year.

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💰Spend More, Make More

A few weeks back we talked about the Billionaire’s Secret - leverage.

During the holidays you need to leverage your time so that you can produce at the same level as you would any other time of the year.

There are 4 types of leverage:

  1. Investing

  2. Software

  3. Leverage

  4. Media

For you, labor leverage is your best bet. There are two easy ways to do this:

#1 - Physical Outsourcing

Trade grocery shopping and cooking for takeout.

Americans spend 13+ hours a week grocery shopping and preparing food.

If you make more than $15/ hour, you will make more money paying $15 for takeout and working that hour instead of cooking.

Apply this to things like cleaning your house and running errands.

#2 - Hiring A Virtual Assistant

Like I said, you want to keep your ‘yes’ list small. Yet, someone must book flights, plan vacations, manage emails, etc.

This is where a virtual assistant becomes very helpful.

Basically, this is an online assistant who will take care of the tasks on your ‘no’ list that still need to be done.

(I make $0 from recommending them. I’ve just found them to be a great resource).

Your most valuable asset is your time, so protect it at all costs.

Time Blocking

Now, here’s my secret weapon for keeping up during the holidays: Time blocking.

Seriously, hear me out…

I got this idea from the book, ‘The One Thing’ by Gary Keller.

Keller talks about blocking a few hours in the morning where you can work on the one thing that “will make everything else easier or unnecessary in your day.”

Take a look at my morning schedule for Oct-Dec:

By waking up 3ish hours before everyone else, I’ve given myself 3 extra hours of uninterrupted work before my workday starts.

In these 3 hours, I:

  • Have no meetings

  • Do not check emails

  • Work on ONE thing (no task switching)

However, if you’re like me and you get distracted by tasks that aren’t on your ‘yes’ list, check out this episode on The Diary Of A CEO podcast.

Steven Bartlet interviews a behavioral engineer who explains how to train your brain to avoid distractions.

It was game-changing for me to get the most out of my three hours.

Hope this helps!

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