Technology has made it easier than ever before to learn about the systems, methods, processes, habits and tools that people use to become successful. Once upon a time (meaning more than 25 years ago), one had to go to a library or bookstore to find books and magazines discussing what entrepreneurs like Warren Buffet, Bill Gates or Sir Richard Branson do to be more efficient and effective at work. But blogs, podcasts, websites, and social media platforms have put that kind of information at the fingertips of anyone with a cell phone and WIFI. In fact, information abounds. The problem, now, is that there is too much information about managing time and tasks that compete for attention. Finding out specifically what Buffet or Branson do to manage their time and tasks requires research and digging through the morass of posts and articles, which may or may not be true. In a sense, it has become harder – not easier – to learn the approaches of the most successful people for managing time and tasks. But rest assured that they have crafted and honed their own methods for maximizing their efficiency and boosting productivity.
Over the last month, we’ve been looking at systems and approaches to managing time and tasks that have been put forth over the last 100+ years. Every accomplished professional and successful entrepreneur has had to figure out how to juggle the myriad of major projects and minor minutiae that crowd each day in order to be effective. And consultants, management experts, life coaches and mentors have advised highly successful people how to increase productivity.
Take, for instance billionaire Sir Richard Branson — who has over 400 companies in his portfolio. Mr. Branson has not one but a multitude of hacks for effectively managing the onslaught of tasks on his plate. He embraces a series of strategies that work together. For example, Branson believes in tracking and organizing tasks and ideas in lists. On his blog, he wrote “In order to make sure I achieve everything that not only needs to get done but also everything I want to get done, I make lists – lots of them. I have always lived my life by making lists. These vary from lists of people to call, lists of ideas, lists of companies to set up, lists of people who can make things happen. I also have lists of topics to blog about, lists of tweets to send, and lists of upcoming plans. What does that look like in practical terms? Branson recommends these tips:
- Write down every single idea you have, no matter how big or small
- Always carry a notebook
- Find a list method that works for you. Doodles; bullet-points; charts; whatever works best
- Make a list of small, manageable tasks to complete every day
- Mark off every completed task
- Make goals measurable in order to know if plans are working
- Set far off, outlandish goals. What to achieve by 2030… by 2050….
- Include personal goals in lists, not just business
- Share goals with others to further motivate one another
Branson added that “each day, I work through these lists, and that sequence of calls propels me forward.”
He also embraces “hands-off delegation.” That makes sense as it would be absolutely impossible for him to handle all the details himself. According to Branson, “I have to be good at helping people run the individual businesses, and I have to be willing to step back. The company must be set up so it can continue without me.”
Reputable Systems for Managing Tasks
Looking at how other successful people manage time and tasks is instructive. Over the last four weeks, we’ve looked at various systems. First, we looked at the Eisenhower Matrix to help distinguish Important from Urgent tasks, and eliminate those things that can either be delegated or eliminated. The focus is on ruthless prioritization based on what tasks will have the greatest impact. This is good for top execs who are pulled in many directions.
We then considered David Allen’s Get Things Done framework for achieving “the art of stress-free productivity” by capturing all tasks and sorting them into Delete, Archive, Delay or Do. Those that are Do either get Deferred, Delegated or Done. It is similar to the Eisenhower Matrix but adds steps for preparing the task for execution and reviewing actions taken regularly. It is meant to make task management stress-free by ensuring nothing falls through the cracks because it is written down. The focus is on writing it all down. This is great for the average person who is disorganized and dropping balls.
Then we looked at Brian Tracy’s Worst Thing First approach – aka Eat that Frog First Method — which recommends doing the task that will have the most impact first but is, perhaps, complicated or difficult and thus usually gets procrastinated. This is a great system for those who put off starting complex projects in favor of getting more simple tasks done, which feels like more is getting accomplished. And, basically, everyone does that. It is like the Eisenhower Matrix in that it focuses on the task that will have the greatest impact, but recognizes that it might be at the bottom of the list because it is onerous and draining and thus must be tackled first thing in the morning.
The Simple Ivy Lee Method of Task Management
Today let’s consider a task management approach that has been around for over a century and was first proposed by Ivy Lee, a productivity consultant. As the story goes, Charles M. Schwab, President of Bethlehem Steel, asked Lee a way to get more things done. Lee asked for 15 minutes with each company executive. When Schwab asked how much it would cost, Lee said “Nothing, unless it works. After three months, you can send me a check for whatever you feel it is worth to you.” After three months, Schwab was so happy with the results of the Ivy Lee Method that he paid Mr. Lee $25K, which translates to roughly $485K today. That must have been quite a method for managing tasks and yet so simple that it could be communicated in 15 minutes. So what did it entail?
Rather that focus on writing all tasks down (GTD method) or sorting all tasks into a quadrant to identify which are the tasks that are important over urgent (Eisenhower Matrix) or identifying the worst thing and doing that first (Eat the Frog), Lee recommended people jot down the five or six most important things they want to accomplish the next day. List them in order, starting with the most important task first thing in the morning. But the list cannot have more than six items. Then, that day, they should focus on only one task at a time, going from most important to least important, until the list is accomplished. Any unfinished business gets moved to the next day’s list of six tasks. The three key points are: to:
- Focus on the task at hand only.
- No multitasking on the six activities selected
- Always ensure the most important task is the highest on the priority list
The Pros
By planning the day the night before, decision fatigue is eliminated and energy is reserved for the most meaningful work. Each person wakes up knowing exactly what they’ll be working on that day instead of wasting valuable time and energy making decisions in the morning. So tasks get selected and prioritized the night before. James Clear, author of Atomic Habits: An Easy and Proven Way to Build Good Habits & Break Bad Ones, said that the Ivy Lee method “forces you to make tough decisions.” He added that “there is something magical about imposing limits on yourself. Basically, if you commit to nothing, you’ll be distracted by everything.”
The Ivy Lee Method also removes the friction of starting a new task. Starting something new is often difficult. By determining your most important task the night before, the time wasted on indecision is gone. That allows people to be immediately productive when it’s time to start.
The Cons
The decision of what to do the next day is made at the end of the day when a person is tired and already suffering from Decision Fatigue. So it is not the optimal mindset for making tough decisions. This could lend itself to putting off the hardest tasks by not listing them in the top six for the next day. It also does not keep people who are overloaded with tasks from having things fall between the cracks. By hyper focusing on prioritizing and accomplishing the six tasks for the next day, it ensures a person has a productive day but it doesn’t ensure that every task is remembered and considered.
Billionaire Warren Buffet, founder of Berkshire Hathaway, understood these problems clearly and created his own task management system called the 25:5 Method, which addressed this very issue. We’ll look at Buffet’s 25:5 system for managing tasks next week. After all, when choosing someone’s task management approach, the one used by the 5th richest men on earth is likely a pretty good one.
Quote of the Week
“The single best thing to do when you have too many ideas, or when you’re overwhelmed by everything you need to get done, is to prune your ideas / tasks and trim away everything that isn’t absolutely necessary. Constraints can make you better.” James Clear
© 2023, Keren Peters-Atkinson. All rights reserved.
The post Improving Management of Time and Tasks,
Part 5 first appeared on Monday Mornings with Madison.