We have become experts at wasting time. Between Facebook, fantasy football, and Angry Birds, we barely have time left for work. What's wrong with this picture? Oh yeah, work is what we are supposed to be doing! Michael Moroney recently published an article on Entrepreneur that might make you think differently about how you spend your time.
Think of your hours during the day as money. Maybe you are most productive between 9AM and 10AM. This period of time is $100 dollars. When someone asks you to do something for him or her that will take up half of this time, you must ask yourself, "is this task really worth losing $50?" By monetizing your time, it becomes easier to put value on certain things that come your way during your work time.
Moroney says, "The hours of the day are finite and intrinsically valuable, and the most successful managers and entrepreneurs are those who not only properly manage their own time, but the time of others."
When delegating tasks, think of the value in each of your employees' time. Tasks that can be done by an intern should not be assigned to an intermediate level engineer, and so forth. Assigning the right tasks to the right people is the best way to clear schedules of time sucking tasks that waste productivity.
By monetizing time, you can add efficiency and productivity to your place of work. In an age where we waste time and money regularly, this form of productivity can be a good reminder to all of us that there are more important things than Facebook and Angry Birds.