Is your to-do list long enough to wallpaper your office?
If you're like most entrepreneurs, you have a lengthy to-do list that never seems doable—no matter how many hours you work. But there's a reason you're not ticking off items, or maximizing results when you do. You've likely organized your task list by deadlines, and you're cranking away on the most pressing items first. A better, smarter approach is to prioritize your list by what matters most.
As such, there are only two types of tasks that should really matter to entrepreneurs. The first can broadly be described as "whatever makes money in the near future," such as writing proposals, returning prospect calls, and calling your credit card company to negotiate a better interest rate. The second is "whatever will make customers happy."
People feel compelled to finish tasks just because they are on the to-do list, especially if a deadline looms. But what good is crossing off an item on your to-do list if it doesn't make you money or thrill your customers?
A consistent flow of cash is the lifeblood of your business. If you can make money in the next 30 days by knocking off an item on your list, then make that item a priority. Same goes for any task that will win you ecstatic customers, who might reward you with repeat business or rave about you to potential customers. Everything else? Not so much.
Here's how to turn your to-do list into a productive, money-making machine:
1. Maintain a paper task list. As much as you love your fancy productivity software, keeping your to-do list on a computer can cause you to go off on a tangent or get caught up in color-coding or grouping tasks. More importantly, every program I've ever used emphasizes due dates and percentages complete, which isn't our focus. So get out the good old yellow legal pad and start at the top.
2. Create two columns: one labeled, "TYPE" and one labeled, "TASK." In the "TASK" column, write down everything you need to get done.
3. In the "TYPE" column, write a dollar sign next to each task that, when completed, you are confident would bring in money in the next 30 days. Then, put a smiley face next to any items that, when finished, will make your customers happy. Now, you have a short list of the really important tasks, a list you can manage, a list that will have an immediate, positive impact on your business.
4. Start ticking off items with dollar signs and smiley faces. When you dive into a new task, highlight it. This way, if you get distracted by the phone, or email, or your 537 Facebook friends, you can instantly get back on track by going to the highlighted task. When you complete a task, cross it off your list and go on to the next dollar sign or smiley face.
5. As you move through your day, new to-do items will come up. Write them down as soon as they come to mind so you can get back to your task at hand without worrying about remembering fleeting thoughts, or getting sidetracked contemplating how to complete that task. Then, at the end of your day, review your new to-do list items and, if applicable, add a dollar sign or smiley face.
This simple approach is the most effective productivity strategy I have ever followed. Sure enough, it consistently improves my business because I am bringing in money and making my customers pleased. If cash is flowing and the customers are happy, who cares if I never get around to the other tasks?
This year, make a resolution: Never sacrifice what is important for the sake of what is urgent
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