Having worked in the Commercial Real Estate industry for nearly 10 years now, I have become accustomed to the reality that change is unavoidable. While changes can be challenging, opportunistic, difficult, or just plain new, one thing that we all must be able to do is address them in a productive manner. Over the past 2 years, I have been fortunate enough to achieve partner status at my firm, become engaged and married, and welcome our first child. I have also experienced the passing of a life mentor, and another close friend who each lost their battles with cancer. I have watched the economy rise and fall, and rise again. I have seen much change and I have learned that there are useful ways to handle it in both business and personal relationships.
1. Clearly Define Priorities
2. Have Realistic Expectation of Your Schedule
3. Track the Results
Clearly Define Priorities
As the seasons of life change, whether business or personal, we must re-calibrate our thinking and ask what, and more importantly who, is a priority in our life. This is a time to reflect and refocus. When change comes upon us, the 1st step is to pause and clearly define the activities, interests and relationships that are most valuable to us, primarily as related to that change. It is beneficial to periodically write out and identify your priorities clearly, understanding that those priorities may adjust over time.
Here are 5 broad categories of significant priorities to reflect on that can help you identify what is truly important to you. ACTION: Spend a moment to identify and define what each category entails in your life, and rank them in importance for you.
5 broad categories of significant priorities:
Have Realistic Expectation of Your Schedule
Now, to assist with time management in a changing season of life, we need to make a realistic schedule of the time we have available. Since you have now outlined and ranked what is truly important to you, look at your schedule and pencil in the time needed for each category. Be proactive, not reactive. I have found a linear calendar from 5AM to 11PM to be the most effective tool in scheduling this out. For example, if family and friends are important, are they just getting jammed with the left-overs of your time, or are they made a priority;?Write in family and friends time first. It is important to note that volume of time does not always equate to what is actually most important to you. Are you making what you believe to be important a real priority and scheduling it in to your calendar? Is there anything you need to remove…?
By focusing on our priorities and being proactive in scheduling the time for each, we can more effectively manage our time, no matter what changes a particular seasons of life may throw at us.
Track the Results
The next step is critical to making a real lasting impact.
It is to ask yourself and evaluate:
Seasons change…. There are going to be times when you need to spend more time at work and less time in recreational activities. There are times when you may need to tend more to family needs and cares at home than spend extra hours in the office. The key in effectively managing your time, regardless of the changes in life, is to regularly evaluate what you are doing, what you should be doing, and where you need to make changes in your schedule.
While this is obviously applicable to many more areas than just commercial real estate, I believe it is important to think through this strategy when making a real estate decision as well. Real estate decisions can bring about significant change and it is important to be reminded of what truly matters when crunching all those numbers.
Christopher J. Destino, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.