How Successful Real Estate Experts Utilize their Time
As a Clever Investor Mentor, each week seems to carry a theme with my students... Recently, we had a week that was all about time management (or lack thereof). Most of the students feel like the weeks and months go by without producing a positive result in their businesses. (I’ve been there, I’m sure you’ve been there…)
What it all comes down to though, is that the student is not taking control of their time… time is taking control of them and having them “run on random.”
Before you can even begin to manage time, you must learn what time is. A dictionary defines time as "the point or period at which things occur." Put simply, time is when stuff happens.
There are two types of time: clock time and real time. In clock time, there are 60 seconds in a minute, 60 minutes in an hour, 24 hours in a day and 365 days in a year. All time passes equally. When someone turns 50, they are exactly 50 years old, no more or no less.
In real time, all time is relative. Time flies or drags depending on what you're doing. Two hours at the department of motor vehicles can feel like 12 years. And yet our 12-year-old children seem to have grown up in only two hours.
Below are some of the time wasters that consume most of the day… and some solutions to get back those precious hours to either spend time in your business or doing other items on your goal list.
Are these things controlling your time?
- Watching TV
- Playing on Facebook or other social media distractions
- Checking email all day long
- Checking voice mail and texts all day long
- Running errands during peak business hours
- Busy work that does not involve working in or on your business
- Not having a plan of action
- Not managing interruptions, especially the “got a minute” moments in your day
- Eating lunch alone
You need to ask yourself: What is the most productive thing that I can do now? I’m thinking, your answer is not going to be one of those time wasters above.
So… try these to help you maintain control of your time…
- Prioritize your day the day before by using a calendar and lists.
- Only check email twice a day (example: between 9:00 am-10:00 am and again at 4:00 pm-5:00 pm.)
- Only check voice mail twice a day (example: between 10:00 am-10:30 am and again 3:30 pm-4:00 pm.)
- Avoid the “got a minute” from co-workers by letting them know that you are busy, and then let them know that you will be available at 2:00 pm to address their questions. Put a ‘do not disturb’ sign on your door if you have an office. Most of the time, they will have already found a solution or will have forgotten about the question.
This next one is great, I love it…
- Have “Stand Up” meetings. It’s amazing how your co-workers or staff will get to the point when there are no chairs in the meeting room to sit in. This also works if someone needs to meet with you in our office. You just stand when they walk in and they will follow your lead.
- If you need to play on Facebook or other social media sites, do it during a scheduled break.
- Always go to lunch with someone you work with or someone you’re trying to establish a business relationship with – Realtor, title company/escrow agent and attorney, accountant, cash buyer, seller or a fellow investor.
- Spend the first part of your day (at least 30 minutes) reading something motivational, inspirational or educational.
- Rewrite your goals for the day, month and lifetime. This will motivate you and get you in the right frame of mind to face the day.
Implementing these helpful tips should help you get control and maintain control of your time.
Remember, though, that it's simply impossible to get everything done.
Also remember the odds are good that 20% of your thoughts, conversations and activities produce 80% of your results.
PS: Check out our YouTube channel for more great training!
PPS: Before I let you go, I wanted to give you the eBook! Download it here!