Master your time, Master your Life – Book Summary
This is another classic from Brian Tracy called Master time Master Life. Brian mentions that continuously stop and ask, what is the most appropriate type of time use for this situation. This book is completely based on time management.
Strategic Planning & goal Setting time
Brian Tracy mentions that the single biggest waste of time is setting off without clear, specific goals. Key differentiation about rich people is that about 85% of time spend time on one big goal and work on all the time. These are the people who have goals and plans on how to execute it. Having written goals impact having 10% more successful than those who don’t write their goals
The first foremost activity is to find out your abilities and work on the vision that you have been put on this earth. Find the things you like doing and put the whole effort into becoming absolutely great in that.
Personal Strategic Planning ask these questions to self to create a plan for yourself
- Where am I now in my life?
- How did I get to where I am today?
- Where do I want to go in the future?
- How can I get where I am to where I want?
Having clarity is most important. Brian mentions that 95% of success depends upon clarity.A/B method of taking action. In this method, we divide activities into two categories A & B. A are all the activities that take you towards completion of goals and B is all those activities that fail you to reach towards your goal. Start only doing those activities.
Goal achieving formula
- Decide exactly what you want
- Put it in writing on paper
- When do you want it? Assign a deadline
- Think on paper. Think of all activities that you can do to achieve it and organize it in sequence.
- Start taking action on your plan. Simply do something daily that moves you towards your plan
Productive time – Getting more done
According to the book “ Never Check E-mail in the morning” an adult checks mail about 145 times in a day. The psychological reason behind this is whenever we send or receive a mail body release a small amount of dopamine which gives a mild sense of pleasure.
According to the USA Today story, people become mentally fatigued by regularly replying to the mail. At the end of the day there is a dip of 10 IQ points and making decisions becomes hard in the latter part of the day. Brian suggests that specific time should be allotted to the day to check and reply to the mails.
Tools to improve productivity
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Use the 80/20 method to set priorities to complete the work, the principle states that about 20 percent of work contributes to 80% of results.
ABCD listing method
Think about the consequence of not completing the task. Bigger the potential consequence higher the impact. Start labeling activity according to consequence
A – You must do, has a serious impact
B- You should do, but has a mild impact
C- Something nice to do has no consequence
D- Delegate the task to someone
Law of three
To increase productivity we should ask ourselves 3 questions which form the law of three.
- Which activity should I do all day that would add the greatest value to my work?
- If I could do two things on the list, what would be the second activity that adds value to my work?
- I could do three things all day which would be my third activity on the list.
Income improvement time
Brian mentions that the most valuable financial asset is our earning ability. It is the money that people will pay you to get the results. Earning ability is like an asset that appreciates or depreciates over time if not trained.
Gary Becker the Noble prize winner mentions that “ We don’t have an income gap but a skill gap in our society. The rewards in life depend upon the value of the service to others and the ability to contribute to the company.
“ If you want to take more out, you must put more in“
If you want to get more & better results you must develop better and new skills that enable you to make an even greater contribution to your company.
Self-assessing our skills are important for understanding core skills and competencies. Assessing what important and valuable work you do. Find out which one skill would help you the most to double your income.
Create a learning schedule for learning, create a space in your home, and set a schedule for a certain period each day. Learning new subjects activates more of your brainpower and makes you smarter.
What you do with spare time can make all the difference between success and failure. Every industry there are 20% of people who earn about 80% of the money in the industry. Try to understand what top 20% of industries do and start doing the same.
If you keep improving, increasing your productivity, performance, and income by 11 % per year.
Brian mentions that meeting if not done properly is one of the tie wasters in the workplace. The time compounded over the time spent over the period companies lose on million due to loss in productivity. But meeting planned properly can be an effective way of working.
Work all the time you work, resolve today to minimize or eliminate the time-wasters that contribute nothing to your life work-life.
Ways to conduct an effective meeting.
- Ask whether the meeting is necessary
- Create an agenda and but every topic needs to be covered
- Start & Stop on time no exception
- Cover the most important topics first
- Summarise each conclusion
- Assign specific responsibility & deadline for the activities
- Keep note and circulate the minutes
People & Family time
The types of people you spend your time with determines your future. Brian suggests a very good formula for this
QR X QR = PS
QR = Quality of Relationship
QR = Quantity of Relationship
PS = Personal Success
Family time requires quality time – long unbroken stretches of time where the happiest & most important moments of your life take place. The major reason to become successful in your career is to enjoy higher standards with the people who are important to you.
But allowing life to get out of balance is a major source of stress and unhappiness. When communicating it is important to give out the most important to the person in front speaking.
To be effective in communication- Always listen attentively ,Pause before replying & Ask a question for clarification .
This book puts a thought-provoking insight saying that we still try to associate with negative people thinking that we will benefit from their association but that result will never take place. Brian tells us to ask ourselves the question of what benefits did we receive up till now from being in association with these negative people.
If you want change get out those negative associations at once from this minute for the rest of the life.
Rest & relaxation time
Quality of life largely depends on our thinking. The most valuable asset you bring to your business and your career is rested thinking time. Most people think that whether fully rested or not, doesn’t matter.
But numerous studies show that after 8 hrs thinking ability begins to decline and after 10 hrs works at 50 percent of its ability. Brian says that the brain is like a battery. Time should be set out to recharge the brain by resting properly.
Whenever taking a critical decision, always take time and sleep on it. Sleeping helps to take out mental digestion and helps in making better decisions when rested.
It takes more discipline to stop working than it does to continue working. If you do not interrupt the seven days working style. Then you will fall into the trap of working most of the time. The real key to success & high performance is to disconnect completely from an extended period of time.
Rich people place a high premium on recharging their batteries by taking vacations. During the vacation, they explore opportunities and possibilities for their business.
Most people in our society are almost 70% are sleep deprived. This builds up a sleep deficit of one-two hours each day and by the end of the week, individuals feel more & more tired. This causes extra eating or intake or extra caffeine because the body needs more energy to work for longer.
Long term practice of working longer and longer, results in loss of interest in the work. The only way to be productive is to pull the plug from busy work and relax at regular intervals. If one is going through an emotionally draining situation ensure that you get a good amount of sleep or engage in physical activity.
Resolve to take a vacation in a year, decompress yourself and discipline yourself not to work in this vacation until very important. This will help to improve and work in sustainably for a longer period
Brian shows us how apart from living life regularly how to make the most of the time we have. Time should be properly managed and used for planning to rest. When we take time to respond we make better results.
- Time management is a skill that can improve all walks of our lives.
- One must take regular intervals breaks from work, to perform better at work.
- When Time management is done right work one can truly live the life to fullest.
People who struggle to make time for other activities apart from their work. A person who wants to understand the importance of taking breaks from work and its impact.