Time Maximizer - American International Group · A CEG Worldwide study found that most advisors spend 30-60% of their time with clients. Only 10% of advisors spend more than 60% of

Time MaximizerDaily & weekly activity analysis

Properly managing your time is critical for the success of your business and happiness in your personal life.

Usually when one thinks about time, the focus is on the lack of this precious resource. How often have you

said: “I never have enough time…” or words to that effect?

The Importance of Effective Time Management The Pareto Principle, also known as the 80-20 rule, helps to put effective time management into perspective.

The 80-20 rule can serve as a daily reminder to focus your time and energy on the 20 percent of the activities

that generate 80 percent of your business revenue. Of the activities you currently perform during the course

of your day, how many are generating income? When the fire drills start and the interruptions happen, remind

yourself to stay focused on the 20 percent of activities that truly count.

Getting Started

The first step to maximizing your time is to better understand how your time is currently spent. Have you

ever charted and analyzed an entire week of your time in the office and at home? There are only 168

hours in each week, so spending these hours more efficiently and more effectively is the only way to take

back your time.

The Time Maximizer program features a three-step process that involves:

1. TRACKING how you spend your time with the “Activity Analysis” worksheet

2. IDENTIFYING distractions with the “Interruption Protection” worksheet

3. MAXIMIZING your productivity with the “Time Utilization” worksheet

Let’s get started.

For financial professional use only. Not for use with the public.

“The ability to concentrate and

use time well is everything.”

— Lee Iacocca

Practice Management


Short on time?

You’re not alone.

Time-related issues were identified as top challenges facing advisors in an industry study1:

Top Challenges Facing Advisors

1. Finding more clients/gathering more assets

2. Time management/having time to communicate with clients

3. Improving productivity and efficiency

4. Building/maintaining relationships

5. Complying with new federal regulations

6. Developing targeted marketing strategies

7. Keeping up with changing technology

8. Identifying/targeting most profitable client segments

Are you spending enough face time with clients?A CEG Worldwide study found that most advisors spend 30-60% of their time with clients. Only

10% of advisors spend more than 60% of their time with clients—and their income is

3 times greater than the advisor spending less than 60% of their time with clients.2

Bottom line: Make client meetings a “Top Task” to help increase your business revenue.

1 Brown Research Partners for the Financial Planning Association, “The Support, Tools and Services Financial Planning Professionals Value Most”

2 John Bowen, “Outsource It!”, Financial Planning


Step 1

Activity Analysis

Objective Account for the time you

spend at work and at home

during a given week. This

information will be used to

help you identify productive

tasks and eliminate tasks

that waste your time.

Using the “Activity Analysis” worksheet:

n List everything you do (both work-related and in your personal life) on

a daily basis and the amount of time involved.

n Be sure to include everything that takes up your time—no matter how

mundane or unimportant it may seem. (Don’t forget to account for the

time you spend asleep.)

n At the end of the week, review your list and put a check mark next to

every activity that will help you achieve your goals, such as increasing

your production.

n In the box marked “Top Tasks,” list all of the activities with check

marks. You have now identified the goal-oriented activities that you

perform on a daily basis. These tasks should become the primary

activities where you significantly invest your time and focus.

For financial professional use only. Not for use with the public. For financial professional use only. Not for use with the public.

Distinguish Daily Deeds & Top Tasks

Work-Related

Activity 3 Monday Tuesday Wednesday Thursday Friday Saturday Sunday Total Hours

Drive to work 1 hr 1 hr 1 hr 1 hr 1 hr 5Bills/mail 30 min 30 min 30 min 30 min 30 min 2.5Office org. 1 hr 1 hr 1 hr 1 hr 1 hr 5Training/Staff meeting 1.5 hrs 1 hr 30 min 3Marketing/econ. research 1 hr 1 hr 1 hr 1 hr 1 hr 5Continuing education 30 min .5Distractions 45 min 15 min 1 hr 30 min 30 min 3Business development/ new clients 3 2 hrs 2 hrs 1.5 hrs 1 hr 1 hr 7.5Set appointments 3 30 min 30 min 30 min 30 min 30 min 2.5Deliver seminars 1.5 hrs 1.5Work on seminars 2 hrs 1.5 hrs 3.5Client meetings 3 2 hrs 2 hrs 3 hrs 1 hr 8Planning/client portfolios 3 30 min 30 min 2 hrs 3Account reviews 3 2 hrs 2Client correspondence 3 1.5 hrs 2 hrs 2 hrs 2.5 hrs 2 hrs 10

Home-Related


Go through mail/pay bills 1 hr 1hr 2Eating/Cooking 1.75 hrs 2.25 hrs 1hr 1hr 6Personal maintenance 30 min 30 min 30 min 30 min 30 min 15 min 15 min 3Run errands 30 min 1.5 hrs 1 hr 3Household chores 1 hr 1 hr 1 hr 1 hr 4Television/movies 1 hr 1 hr 1 hr 1 hr 1 hr 1 hr 2 hrs 8Exercise 3 30 min 45 min 1.5 hrs 1.25 hrs 4Family 3 1 hr 1hr 30 min 30 min 1 hr 1 hr 4 hrs 9Kids’ games 3 3 hrs 3Newspaper 15 min 15 min 15 min 15 min 15 min 15 min 15 min 1.75Reading 15 min 30 min 30 min 1.25Friends 1.5 hrs 1.5 hrs 2 hrs 5Sleep 8 hrs 8 hrs 8 hrs 8 hrs 8 hrs 8 hrs 8 hrs 56

List everything you do at home and the time it takes to complete the activity. Put a check mark next to every

activity that is goal-oriented—these are your “Top Tasks.” Consider transferring this information to your calendar

or daily planner as a reminder of this focused to-do list.

List everything you do at work and the time it takes to complete the activity. Put a check mark next to every

activity that is goal-oriented—these are your “Top Tasks.” Consider transferring this information to your calendar

or daily planner as a reminder of this focused to-do list.

Top Tasks

Business development / new clients Account reviews Client meetings Planning / Client portfolios Client correspondence Set appointments

Top TasksKids’ games

Time with family

Exercise

Practice Management

List everything you do at work and the time it takes to complete the activity. Put a check mark next to every activity

that is goal-oriented—these are your “Top Tasks.” Consider transferring this information to your calendar or daily

planner as a reminder of this focused to-do list.

Work-Related


Top Tasks

Distinguish Daily Deeds & Top Tasks


List everything you do at home and the time it takes to complete the activity. Put a check mark next to every activity

that is goal-oriented—these are your “Top Tasks.” Consider transferring this information to your calendar or daily planner

as a reminder of this focused to-do list.

Home-Related


Top Tasks


Objective Identify the interruptions

that take away from your

productivity.

Step 2

Interruption Protection

Using the “Interruption Protection” worksheet:

n Keep a log of all your interruptions over the course of a

week, the amount of time it took you to get back into your

workflow, and who or what caused the interruption.

n Remember, if you are distracted during your time of peak

productivity, it may also affect the quality level of the time you

spend in other areas of your life.

n Improve your focus at the office to help generate more income

and improve your quality of life at home.


Log your interruptions

Interruption InterrupterLength of

Time Interruption Lasted

Amount of Time Needed to

Resume Activity

Office pop-in John 10 5Check email Self 5 3Service issue Joe Smith 20 15Process question Assistant 1 4Personal phone call Friend 5 5

Practice Management


Log your interruptions

Interruption InterrupterLength of

Time Interruption Lasted

Amount of Time Needed to

Resume Activity


Step 3

Time Utilization

Objective To chart and assess

your current activities

in order to develop a

system that will allow

you to focus more time

on the activities that

produce results.

PART 1: Place your activities from the “Activity Analysis” worksheet into

the four core categories listed on the “Time Utilization” worksheet.

(Be sure to aggregate the time spent on each activity for the entire

week.) Then, calculate the percentage of your 168-hour week that

goes to each category to determine your Time Utilization Index.

PART 2: List your three most frequent self-imposed distractions

(e.g. repeatedly checking email, surfing the internet for breaking

news, etc.) and external interruptions (refer to your “Interruption

Protection” worksheet).

Next, list three new “Focus Factors” that will help you avoid

these time traps and focus on being more productive. For example,

consider setting aside certain hours of the day for uninterrupted work

time with a closed door policy, or blocking off hours of the day where

you don’t check email, take calls or make calls.

Place the activities from your Activity Analysis worksheet into one of four core categories: Plan, Work, Play, Rest.

Be sure to include the total hours spent for the week on each activity.

Your Time Index

Sample Time Index

Rest Plan

WorkPlay

Weekly Time Breakdown

Pla

n

CommuteResearchGeneral Correspondence/Mail/BillsOffice OrganizationWork Around HouseStaff MeetingsErrandsDistractions/SidetrackedPersonal Maintenance

555543333

Total Hours: 36 21.5 %

Wo

rk

Client MeetingsTransactions/PortfoliosClient CorrespondencePresentationsProspecting/Business Development

8510510


Pla

y

MealsFamily TimeFriendsEntertainmentReadSports/Exercise

6125834


Res

t Sleep 56

Total Hours: 56 33.0 %Overall Hours: 168 100%

PART 1: How do you spend your week?


Remember that: nGenerally, it takes 10-20 minutes to fully resume an activity after an interruption

n80% of interruptions come from 20% of co-workers

List your three most frequent time traps— both self imposed distractions and external interruptions:

Self-Imposed Distractions

I check my email every 10 minutes andread every new mail immediately

I surf the internet to check for “breaking news”

I go from task to task without ever finishing the first one

List three new strategies that will help you avoid your time traps and focus on being more productive. These are your “focus factors.”

Focus Factors

Enforce an appointment policy for co-workerinteraction to avoid interruptions

Set aside hours for uninterruptedproduction time with a closed-door policy

Block off hours of the day where you don’tcheck emails, the Internet or use the phone

Do not bring your cell phone or PDA tofamily and relaxation events.

No phone calls or emails after 7 p.m. andbefore 7 a.m.

External Interruptions

A particular co-worker pops into my office daily, at the most inconvenient time

Always phone accessible—office and cell phones ring constantly

Co-workers constantly have questionsfor me

Test the Theory

Set up a one hour block of time where you

work on a single task without ANY interruptions.

At the end of the hour measure your productivity

against that of a typical hour in the office. Did

your productivity increase significantly?

Avoiding time traps creates additional time to produce!

PART 2: How do you avoid your time traps?


Practice Management

Weekly Sample Index Hours

21.5% of your week 36




Total Hours 168


Place the activities from your Activity Analysis worksheet into one of four core categories: Plan, Work, Play, Rest.

Be sure to include the total hours spent for the week on each activity.

Your Time Index

Sample Time Index

Rest Plan

WorkPlay

Weekly Sample Index Hours





Total Hours 168

Weekly Time Breakdown

Pla

n

Total Hours: %

Wo

rk

Total Hours: %

Pla

y

Total Hours: %

Res

t

Total Hours: %

Overall Hours: 168 100%

PART 1: How do you spend your week?



Remember that:

nGenerally, it takes 10-20 minutes to fully resume an activity after an interruption

n80% of interruptions come from 20% of co-workers

List your three most frequent time traps— both self-imposed distractions and external interruptions:

Self-Imposed Distractions

1.

2.

3.

List three new strategies that will help you avoid your time traps and focus on being more productive. These are your “focus factors.”

Focus Factors

1.

2.

3.

External Interruptions

1.

2.

3.

Test the Theory Set up a one hour block of time where you work on a single task without ANY interruptions. At the end of the hour measure your productivity against that of a typical hour in the office. Did your productivity increase significantly?

Avoiding time traps creates additional time to produce!

PART 2: How do you avoid your time traps?

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Notes



Note: Prior to using this tool, please check with your broker/dealer to ensure that you are in compliance with your firm’s policies and procedures.

Funds distributed by SunAmerica Capital Services, Inc.

S5162R12 (12/11)

Documents

Time Maximizer - American International Group · A CEG Worldwide study found that most advisors spend 30-60% of their time with clients. Only 10% of advisors spend more than 60% of