Ever have one of those days where you just wished there was an extra hour (or three)? We’ve all been there. And in the property management industry in particular, time management is a challenge. It’s easy to become overwhelmed and either procrastinate or drop the ball completely, neither of which are good for business. The good news is, it’s never too late to learn how to better manage your time. The following tips should eliminate the time crunch stress and make you more productive in the process.
Understand your goals
Don’t waste time on activities that don’t support your short term and long term goals. Your schedule should be filled with tasks that either generate more income or promote the growth of your property management business. For instance, attending a networking event is only worthwhile if your time is spent gathering leads, adding prospective clients and discovering newer and better vendors.
Use the 80/20 rule
We’ve talked about this concept several times before, but it’s so beneficial that it’s worth mentioning again. The 80/20 rule (also called the Pareto Principle) is based on the idea that 80% of your results come from 20% of your actions. From a time-management standpoint, that would mean you tackle the 20% of your to-do list that will produce the best results - more bang for your buck, so to speak. This helps prioritize your time so you can accomplish your most important goals.
Order your tasks from hardest to easiest
If you’ve got some major task looming over your head, it can be tempting to keep pushing it off, but we already know that procrastination isn’t beneficial to your property management business. Try to get into the habit of tackling your most challenging tasks first and then working your way down to the easier ones. This will give you a sense of accomplishment, confidence and motivation to crush your to-do list.
Learn to say no
Many of us – especially those just starting out in the property management industry – fall into the trap of taking on every project that’s thrown our way. This often results in feeling overwhelmed, which can cause other areas of your work to suffer and ultimately lead to burnout. Avoid spreading yourself too thin and know when to say no. (If you struggle in this area, here are a few helpful pointers.)
Believe it or not, workplace interruptions cost the average person six hours each and every day. If you’re struggling to keep your calendar up-to-date and your schedule on track, you absolutely must make eliminating (or at least reducing) distractions a top priority. There are plenty of techniques for doing so. Start by blocking out specific time for things like checking email and returning calls. It will take discipline, but the amount of time you’ll save as a result will make it well worth the effort.
Apply the 4 D’s
When fielding requests, filter them according to the following four Ds:
- Do it
This helps you stay organized, eliminate distractions and time-wasters and make the most out of your daily schedule.
Being as focused and productive as possible is essential to the ongoing success of your career as well as your property management company as a whole. The six tips listed above should help you conquer your calendar and become a time-management master.