Each hour of time during the working day may have a drastically different value depending on how it is used.
“A Time” is the most intensely focused and valuable hourly time. This is defined as time segments spent during face-to-face or one-on-one communication with a buyer or seller in the process of closing a transaction. Time spent may be in person, by phone, or email, but must specifically contain “a request” that the party or prospect, work with you in your business enterprise now or in the future.
By strategically allocating our personal time resources we will get exponentially better results. The fact that “A” time is limited bundling the most focused activities creates a leveraged effectiveness.
The average salesperson does not apply 10% of their actual workday in an “A Time” mode. The average person drastically misallocates their time for many reasons.
“B Time” is time spent in preparation to advance to an “A” time activity. Phone calls, emails, or email replies for the purpose of advancing into “A” time mode are “B” Time” activities. In most cases, “B” time can be delegated.
The average salesperson may only spend 10% of the actual workday in a “B Time” mode.
“C Time” Once you consummate the sale transaction all subsequent activities to drive the process forward are considered “C Time.” This includes all processing, general and administrative activities, which may be necessary, but will not directly generate monetary results. “C Time” most likely consumes 50% to 80% of our workday. The key is to delegate “C Time” activities to a competent support staff. I am not suggesting that these activities are unimportant, but that they may be handled by another person specifically trained for those activities. Whether it is an employee or an independent contractor, this form of shifting or leveraging your resources will help you to make the most effective use of your time.
“D Time” Are the catch-all activities that produce minimal or no results relating to achieving one’s financial goals. In other words, time cluttered, and time wasted. These activities may consume a significant portion of our day as much as 40% to 50%. It usually involves time spent on miscellaneous conversations with staff and associates, checking emails not related to business or not driving a deal forward. “D” time includes reading news, web searching, calling friends, family, and surfing on social media.
Time off or away from your business enterprise is not considered in any of the above categories. Time off will help you recharge your mental batteries.
In an internal combustion engine, the most important function is that of creating a firing spark that ignites atomized gas in the piston chamber. The ignition of the atomized gas creates an explosion causing the piston to thrust downward with force. When done in sequence, a multi-cylinder engine creates enough thrust to drive the automobile forward. By using technological advancements, the sequence of accelerating the engine can accomplish higher revolutions per minute and greater thrust forward. Although the spark is a minor component of the entire engine system, it is the most important and necessary event. The engine would not start, nor could it accelerate, without fuel, the atomization of the fuel, and the spark.
The same would apply to “A Time”, that may be a small percentage of time allocation, but absolutely the most necessary function to accomplish your economic goals. Expanding the amount of “A Time” in your workday will create the highest success outcome. If one practices increasing time spent in an “A Time” mode and develops corresponding success, then this process will create what will become known as a “Unique Ability.” It will become a self-feeding system like accelerating our internal combustion engine to higher revolutions per minute or, in your case, higher economic and self-satisfaction.
The real estate sales or loan businesses are characterized by chaotic daily activity. One hundred different things can go right or wrong, all creating a stressful environment and therefore limiting a potentially successful outcome. We have all heard the expression, “Thriving on Chaos.”
The successful person will attempt to function as much as possible within the scope of their “Unique Ability”— “A Time”—and delegate everything else. Recognizing the natural inclination to move to “C” and “D” time must be rejected. The highest economic value of your time is spent getting a prospective buyer to say “yes.”
Why doesn’t everyone become an “A Time” junkie? Directly pursuing a potential buyer/seller automatically creates stress. Many salespeople equate “no” as a personal rejection. A “no” is simply a rejection of the request—nothing personal. Most people have a hard time handling rejection and end up taking it personally. Many unsuccessful requests, or rejections each day can be exhausting and can easily affect one’s self-worth. Some people cannot handle constantly being turned down and find it easy to deviate into “C” and “D” time. People who are deeply affected by this are better suited to functioning in a support role engaging, in “B Time” and “C Time” activities.
When a potential buyer/seller says “no,” the possibility is that they mean “not now“ or, “maybe later.” That brings us to an important learned concept. You locate a buyer/seller; you do not create a buyer/seller. If you ask for a commitment of “yes” each day, you will eventually earn success. The concept of “Unique Ability” then becomes one who possesses the skill set to engage in many “A Time” events each day with vigor and energy. Yes, I admit it is difficult. Practicing this strategy will develop into what could be called a master’s level “Unique Ability.”
Organize your day into specified periods, such as 10:00 am to 12:00 noon, and 2:00 pm to 3:00 pm, in which you attempt to only engage in “A Time” activities. If you cannot delegate “B, C, Time” activities, then defer them into possible designated time segments such as 8:00 am to 9:00 am, and 3:00 pm to 5:00 pm. Effective time usage is easy to suggest, but difficult to do.
Each of us must create an overall marketing and data management system, whereby we keep in touch with our prospective customers, whether buyers or sellers or referral network partners. Today’s strategies using social media outlets, web-based marketing, target marketing, direct mail marketing, cold calling, and networking are all effective and constantly evolving.
Business and Private Money Finance Consultant
Cell 949 533 8315
If you find that this article provides value to you and your associates, please forward it to others that may enjoy its contents. Please refer your friends and associates to go online to danharkey.com and subscribe to my future business, finance, and real estate related articles.