Time is Your Most Valuable Currency
As a leader, there’s one resource that’s more valuable than the rest. It’s also non-renewable: time. Yet we often underestimate the importance of time and value it poorly. We discount time in the future, which results in overcommitting in the present.
To be an effective leader and maximize your impact, you need more time back in your day to make your vision for your team and your organization a reality. To do that, you must become more intentional about how you spend your time. After all, it’s the most precious currency you have.
Here are four key insights I’ve learned through 20 years of executive coaching to help you get the most out of your limited time:
Did I really need to be on that Zoom call?
1. Stop Discounting Future Time
We tend to value present time more than we do future time. For example, if I asked you to make time to meet with me today, that’s really hard. Your calendar is likely already full. You have a lot to do and are already overcommitted, so the remaining time you have today is valuable.
But if I asked you to meet with me two months from today, you’re likely to agree without thinking twice about it. It feels easy to fit that in. Somehow, time in two months feels less valuable than it does today. But of course, that day two months from now will arrive. When it does, your time that day will feel just as valuable as it does today. You’ll wish you didn’t have that meeting with me!
I see this happen all the time. When someone asks us to do something that we don’t want to do, we often say yes if it’s far enough in the future. But as a leader, you must recognize that your time two months from now is equally precious as it is today, and it should be protected accordingly.
When someone asks you to commit to something in the future, ask yourself if you would want to do it if it were today. Does your response change? If so, go with that response. It’s a better use of your time.
2. Treat Time as a Non-Renewable Resource
Remember that every hour you spend is an hour you’ll never get back. It’s easy to fall into the trap of thinking we have unlimited time, but as leaders (and as humans), we must see time as a finite resource. If you walk out of a meeting feeling like you didn’t add or gain any value, that was an hour wasted. Be deliberate about where you spend your limited hours in a workday.
To feel truly fulfilled and energized by your work, connect your daily tasks to your larger goals, vision, and values. When you’re clear on what’s most important to you, it becomes easier to say no to low-value commitments and focus on what matters.
3. Audit Your Calendar Regularly
Take a moment to pull up your calendar for the next week. Ask yourself: Is every commitment on my schedule the best possible use of my time? Are there any meetings that could be an email, or meetings that you don't need to attend? Most leaders will find that at least 20% of their time is spent on low-value tasks. That 20% adds up to a full workday each week.
Once you identify the low-return meetings or activities, eliminate them. Delegate those tasks. This will free up your valuable time for higher-impact work. Moving forward, every time you get a new meeting request, be selective about what you agree to. This helps ensure that every meeting on your calendar has a clear purpose and benefit.
Extend this process to managing your free time at work, too. Make it purposeful. Use it to recharge, strategize, or work on high-priority tasks, rather than get swept away with unnecessary “busywork.”
4. Learn from High-Return Time Investments
If you find yourself consistently exhausted after each workweek, it may be a sign that you’re not focusing on the right tasks. The most fulfilling work gives you energy, rather than draining it. Reflect on which activities leave you feeling energized and motivated, and prioritize those.
Try this quick coaching exercise:
First, think back to a moment when you felt like your time was well spent. Perhaps it was a meeting where you made a meaningful contribution or a task that had a significant impact. What was a recent high-return time investment for you?
Next, consider which areas of your work fall under this category. Where are other opportunities for you to create more of these high-return time investments in the future?
Finally, make time for those tasks now. When do you have time on your calendar to focus on that work? Make it a high priority so that each day you’ll spend time doing this energy-giving activity.
Remember that as a leader, time is the most valuable currency you have. By recognizing the value of your time and focusing on high-return activities, you can maximize your impact and lead with greater purpose.
Pete Steinberg is an elite rugby coach, leadership consultant, and bestselling author. He can help you and your organization overcome challenges and achieve unparalleled success. Pete’s first book, Leadership Shock, is available for purchase at all major retailers. The Leadership Shock Podcast is available wherever you listen to your podcasts. You can connect with Pete on LinkedIn and at PeteSteinberg.com.