A basic rule of saving and investing says: Pay yourself first. That is, before you spend a dime of a month’s paycheck, deduct a specific amount for savings. Ideally, have it taken out automatically. If you never have access to it, you can’t spend it.
Well, you can treat your time similar to the way you treat money, and the practice can be just as healthy, if not more so. After all, what’s more valuable than your time? I like to call this brand of discipline the Power of X.
One thing after another
Think about how your work year goes. If you’re like many business owners, there are things you want to do for your company, and things you want to do in your personal life, that you never get around to because something intervenes. Emergencies come up. An employee quits unexpectedly. A surge in business forces everyone to work harder.
Before you know it, the year is gone, and you never attended that business seminar. Didn’t take that technical college course. Never went to an NFL football game. Had to postpone that family trip to Disney World for “just one more year.”
Most likely, that wouldn’t happen if you treated your time the way you treat your money – that is, if you used the Power of X. As with saving money, protecting your time is a matter of priorities, and you can set those priorities at any time. A great time to start is on the first day of a new year, but you don’t need to wait until then.
Marker in hand
Here’s how I apply the Power of X: Each year I take my calendar and a thick marker pen and put a bold X through selected days. I don’t just do it mentally. I don’t do it in pencil. I do it on paper, in bold and indelible strokes.
For example, every year there’s a family vacation at a Northwoods lake cabin. So I X-out the entire first full week of August. In March, a brother and I take a Thursday and Friday to attend the state high school basketball tournament. June is my favorite month for fishing, and I want time for extended weekend trips to a number of favorite spots. So each Friday in June gets a big X. And so on.
The point is that days I mark with an X are sacrosanct. They are set aside – it’s not negotiable. I find that if I don’t do this, I end up simply scheduling things as they happen, making myself available when other people are. Before I know it, I’ve got a couple of appointments marked down for a day I really wanted to save. And once I notice that, my typical response is, “Oh, well …”
Sure, I could call and change the appointments, but that’s a hassle, and it’s a mild insult to the other people. So I give up the day and keep the appointment. But a big X on the calendar – name your color – prevents those random intrusions.
Getting control
Suppose someone I need to interview suggests Friday, June 19. I glance at my calendar – big X. “That day’s booked,” I might say. “How about Monday the 22nd?”
The point is that by using the Power of X, you get a measure of control over your schedule and your life.
Of course, to use this power effectively, you need to let go of the idea that you’re indispensable – that every day you’re away from the business is an invitation to disaster. The reality is that you have a good team. They’ll cover for you while you’re gone, especially if, because of those X’s on your calendar, they can plan for your absences.
The point is that days for professional development, days for personal rejuvenation, and days for your family are essential. In order to get those days, you have to make their set-aside a priority.
The Power of X lets you claim them in advance, so that nothing gets in their way. All right, sometimes it takes a little steely resolve to resist giving back a day you’ve marked. But resist you must, because if you go a little soft, pretty soon those big, bold X’s won’t be much better than pencil marks.
Consider the days you claim just as important as the dollars you automatically, non-negotiably set aside as part of your investment program. By saving those days, you’re investing in your professional and personal health. And that’s an area where you can’t afford to scrimp.
