Everyone Uses 100% of Their Time
An entrepreneur friend of mine relayed something he’d heard at a business roundtable: “You use 100% of your time.”
Simple as that sounds, it’s pretty provocative. Because the logical follow up is, “doing what?”
Ask anyone, and they’ll tell you they’re busy. But busy doing what, exactly? Building the life and business of their choosing? Or filling their calendar with unproductive, yet self - imposed, commitments? Making themselves better? Or numbing themselves with mindless passivity?
525,600 minutes in a year
Except for leap year, when you get an additional 1,440 minutes, this number doesn’t change. Doesn’t change for me, you, the rich, the poor, the uneducated, or the person with a PhD.
We all get the same number of minutes. How you commit those minutes correlates directly to your success and happiness.
Time is Money
Median income per person in the U.S. (half earned more, half earned less) is approximately $59,000. That’s $29.50 per hour on a 2,000 hour work year, or just about 50 cents per minute.
What are your minutes worth? Run the math. Now look at your daily routine. If your time was actual cash, would you spend it the way you’re spending your time?
By the way, don’t count sleep hours. Your waking minutes decrease in value if you’re not rested - ya gotta sleep!
Down Time vs. Wasting Time
You’re saying, “Damian, you can’t work every minute of your life. A person needs down time!”
Agreed. But there’s a difference between down time and wasting time. For example: In 2016, the average American adult watched 5 hours and 4 minutes of TV per day. Using the median hourly rate, would you pay $150 every day to watch television?
The 5 E’s
To maximize productivity while maintaining a balanced life, I apportion time into the 5 E’s.
Enterprise: This is your career or business. Even if you love it, it’s still work. Don’t let it consume every waking moment!
Exercise: Movement of body sharpens the mind and feeds the soul.
Enrichment & Education: You know that feeling you get when you learn something new, master a skill, help with a cause, or read an enlightening book? Make time to make yourself better.
Enjoyment: Success without joy is like a convertible in Siberia — what’s the point? Family, hobbies, and stimulating conversation over dinner and drinks with friends is time well spent.
Activity that doesn’t fit into one of these categories is eliminated. Likewise, too much time spent on one “E” is cause for a rebalance. I encourage you to implement the 5 E’s for prosperity, happiness, and fulfillment. You’ve got time.