Why Time Management Doesn't Work, and What You Can Do About It

Photo by Nick Morrison on Unsplash

Time is the one thing all humans have same amount of each day, unlike money, energy and abilities. I’ve yet to have any clients who use their allotted time the exact same way, but what I’ve witnessed over the years is something my happiest clients have in common, and it’s not how they “manage” their time. It’s how they lead their time.

Does any of this sound familiar to you?

You’re successful, AND you feel trapped by your success.

You feel like you never have enough time. You’re wearing multiple hats as the business owner, chief strategist, team leader, fire-putter-outer, and all-around “it” person in your business. You have a team, and they’re great, yet, you still find yourself doing so many things that monopolize your time and zap your energy. 

You wonder if you made a mistake unplugging from the system you left behind, because maybe after all, it would be easier to go back to working for someone else. You may even be wondering if you’re cut-out to achieve the success and freedom you crave.

You are not alone. Many business owners tell us a version of your story when they come to us: 

• They’re overworked.

• They’ve become disillusioned with being in business for themselves and are considering going back to work for a different organization (the VERY THING they left due to burnout and other frustrations!)

• They’re not experiencing the time and financial freedom they envisioned when they started their business.

Will it get better? Yes!

Imagine if you could gain control of your schedule. Picture working only on tasks that are directly related to strategic business priorities and providing excellent customer care. 

What would you accomplish if you were able to block time for research, writing and publishing; speaking and teaching; and advancing your status as an expert in your area of speciality? 

How about the practical stuff? Eat lunch every day. Leave on time every day.  

Envision your team as happy, proactive, engaged and committed to your values and vision. They’re looking for ways to support growing your business and serving more clients or customers with the highest level of attention and care. They understand the value of your time, and they appreciate your commitment to honoring their time as well as your own.  

You may have been wondering how it’s possible to create this kind of utopia, especially if you currently feel like your business could swallow you whole at any given moment. 

Fear not. With some analysis and adjustments to how you structure your time, your mindset about what’s required of you to run a successful business, and how you view time itself, you can make this beautiful picture a reality. 

Start with understanding the importance of the three pillars of Time Leadership: 

1. Discovery

2. Analysis

3. Action

In the first pillar, Discovery, you examine what is most important to you. Do not skip this step. Write it all down. What are your values? What do you really want? Is it time with your family, leisure time, start another business, pursue a hobby, travel the world? Get really clear about what you want for your business and for your life. Write it all down until you have no answers left to the question: What do you really want?

Next pillar, Analysis, is where you comb over how you use your time. Write down every single task, meeting, water cooler chat and everything in-between. Now assign a monetary value to every half hour block of time. This is tedious, but it’s also eye-opening. How much money are you costing your business doing tasks better suited to others on your team? 

If you’re slightly horrified, good. Then you’re ready to take action.

The third pillar, Action, is where a lot of business owners and entrepreneurs want to start, but without clarity, will run in circles, exhausting themselves and costing their businesses dearly. I always recommend my clients start with one or two areas to take action for a while. Don’t flip your business model or your calendar on its head. You’ll regret that. Focus on 1-2 actionable items that are relatively easy or simple to implement. Once you’ve gained momentum, you can work on more changes.

This is just the surface of Time Leadership, but once you start here, you can start to get a feel for how to think and act as the leader of your time and of your organization. 

Time Management implies controlling and getting as much done as possible, whereas Time Leadership is about guiding your attention and focus to the things that are most important.

If you’ve found that time management tactics aren’t working, then it’s time to go back to the drawing board, get clear, craft your strategy, and THEN implement your tactics. Remember that tactics without strategy will not get you where you want to be. Strategy without tactics, ditto. But start with a clear strategy and simple tactics, and you’ll build momentum. Momentum is your friend, so long as you’re taking inspired action and know the direction you want to head.

Think about jump starting a stick shift car. If you’ve ever done this, you know what I’m about to tell you. The key to getting the engine started is momentum. The biggest hurdle is to get the car moving. The first few steps are a total bugbear, but then you’re moving. Once the car starts to move, you can walk faster and eventually start running. Once you’re running, you jump in, put the car in gear and drop the clutch. The car will magically start. Entrepreneurship is kind of like this. Slowing down in order to speed up, and deciding to start thinking like the leader you are, by prioritizing and assigning monetary value to your TIME will help move you in the right direction, and will alleviate a whole lot of the overwhelm and stress of running a business. 

Let’s review and remember the 3 pillars of Time Leadership:
Discovery - what do you really want?

Analysis - how much is your time worth, how much do you cost your business, and how much are you leaving on the table performing tasks better suited to your team or outsourced?

(Inspired) Action - What’s the next best step? What is one thing I can get done right now that has high value and contributes positively to the bottom line?

Remember that time management without a strategy, meaning clarity and vision, is like getting in your car without putting a destination into your chosen map or GPS. Going for a random drive is cute, but if you really want to get somewhere in a certain amount of time, you’d best provide those inputs. 

Time leadership is about directing your time and energy to the important tasks that help you grow your business and make money. Contrary to what many business owners think, not everything is a fire to be put out immediately. Being clear about what’s most important will save you time, money and effort, which will enhance your fulfillment and impact. 

That’s all I’ve got for you today. Make sure to take notes, and please do take a moment to write a review and share this podcast with fellow entrepreneurs so they can also learn with us. Entrepreneurship can feel like an isolated island, so the more we can come together, the more supported we feel.

I’d like to leave you with a quote:

Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.     

 - Carl Sandburg

If you are a physician or practitioner practice owner, schedule your complimentary strategy session to learn how to take back your time and energy while growing and scaling your practice.