Show Me Your Calendar and I Can Predict Your Bank Account
I love and I mean LOVE leading live workshops, especially when I get to shake things up with new and thought-provoking ideas. One such idea I introduce in a specific section of one of my workshops, "Show me your calendar and I can predict your bank account." This often elicits surprise, skepticism, and curiosity. Especially, in a corporate environment. In a recent workshop, a participant challenged this idea, and I asked if they would be willing to display their calendar for everyone to see. They hesitated, possibly feeling somewhat embarrassed. This is a common response, and to make a point, I'll generalize here. I suspect that most professionals would feel somewhat uncomfortable sharing their calendar with their peers, mainly because it may not be organized, prioritized, or designed effectively. In my experience, most calendars are merely filled with accepted invitations, indicating that someone else is dictating how they allocate their time. As an experienced leadership development professional and serial entrepreneur, I've discerned a powerful link between effective time management and financial prosperity. Financial prosperity is how most define success. This concept impacts any definition of success; happiness, freedom, health, relationships, etc.. In this definition of success, if you aspire to boost your bank balance, begin by redesigning your time management strategies, particularly focusing on calendar management and time-blocking.
Understanding the Value of Time
Time, unlike any other resource, is non-renewable, non-storable, and steadily decreasing. It is a commodity we spend, whether we like it or not, and hence is intrinsically valuable. A study by Whillans, Dunn, Smeets, Bekkers, and Norton (2017) titled "Buying time promotes happiness," illustrates that people who treat time as a resource are more likely to experience a better quality of life and, eventually, financial success.
Take Elon Musk, for instance. He reportedly breaks his day into five-minute slots. His obsessive approach to time management has unquestionably contributed to his significant financial success, leading multiple high-profile companies like SpaceX, Tesla, and Neuralink. He reminds us that effective calendar management can help transform time from a relentless foe to a powerful ally.
The Importance of Calendar Management
An organized calendar is not just a list of events—it's a strategic plan for life. A study by Claessens, van Eerde, Rutte, and Roe (2007), titled "A review of the time management literature," highlights that proficient calendar management is positively correlated with better job performance and overall life satisfaction. Now, correlate these parameters with financial success, and you see a clear pattern—more efficiency leads to better results, which ultimately lead to higher income and wealth accumulation.
Time Blocks: The Secret Sauce to Success
Time Blocking is so common as a concept. But why do we not do it? Time blocking, the practice of planning key moments of your day in advance and dedicating specific time "blocks" for certain tasks and responsibilities, is the secret ingredient. It's no longer about working hard; it's about working smart.
In their enlightening research, "The impact of time-management practices on college grades," Britton and Tesser (1991) observed that students who used time-blocking strategies were more successful. This success does not limit itself to academics; it spills over into professional and entrepreneurial life. Imagine treating each task like a meeting with your bank account. The more productive these 'meetings' are, the more prosperous you become.
Common Misconceptions About Time Management and Money
Most people perceive time and money as two disparate entities. However, contrary to this popular belief, they have a symbiotic relationship. As offered by the Time, Income, and Subjective Well-being study by Kasser and Sheldon (2009), individuals who prioritize time over money experience greater happiness, leading to enhanced productivity and, eventually, higher income.
Practical Tips for Improving Calendar Management and Time Blocking
Incorporating time-blocking in your calendar might seem daunting at first, but with consistency, it becomes second nature. Here are a few tips:
- Prioritize Tasks: Not all tasks are created equal. Determine which ones align with your professional and financial goals and allocate your prime time to them.
- Use Digital Tools: Leverage technology for calendar management. Google Calendar, Microsoft Outlook, or any digital planner of your choice can be instrumental.
- Consistency is Key: Rome wasn't built in a day, and neither will your efficient calendar. It takes time and consistency to master this skill.
- Review and Iterate: At the end of each week, review your performance. What worked? What didn't? Iterate and improve your time-blocking strategy for the following week.
Our lives are dictated not by the ticking of clocks but by the effective management of the time they represent. By controlling your calendar, you can direct your life, drive your productivity, and, indeed, predict the size of your bank account.
Time + Design = Bank. It is just that simple. Bank can be money, happiness, health, friends, relationships, etc...
This journey is not an easy one, but it is a rewarding one. As a leadership development professional, I invite you to take this journey to new levels of productivity and prosperity. Remember, your calendar isn't just a scheduling tool; it's a roadmap to your success.
