SCORE: It's about time

As a resource partner of the U.S. Small Business Administration, SCORE - which offers free business mentoring and education -- notes the organization has helped more than 11 million entrepreneurs through mentoring, workshops and educational resources since 1964. The nonprofit SCORE was previously known as the Service Corps of Retired Executives.


This past week, I re-read an article about time management.

The author suggested visualizing yourself standing on the bank of a river watching the water flow by -- water you would never see again. Time, one of our greatest gifts -- once having passed can never be regained.

As I pictured the Flow of Time, the Pareto Principle (also known as the 80/20 rule) came to mind. The principle states that roughly 80% of the results come from 20% of the events. Brian Tracy, a popular business motivational speaker, suggests that if you had 10 items on your to-do list, two of these items would turn out to be worth more than the other eight items together.

Perhaps that thought is worth testing.

What if you kept track of where you spent your time for a few weeks or a month. Sort the time by activity. Which of those activities contributed most to your and the company’s success? Put a dollar amount on each hour. Time spent on those activities that contribute most get the highest pay per hour. Those lesser activities get lesser pay per hour.


If you played this game, what would be your average pay per hour? Then what can you do in the coming weeks to increase your average hourly rate?

Successful people are jealous of how their time is spent. They are very aware of the events that contribute most to their success. They are disciplined and committed to maximizing those times spent in the 20% of their activities that contribute 80% to reaching their goals.

What’s your average pay per hour?

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