Stephen Covey’s Time Management Matrix For Online Marketers
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If you have read everything about online marketing but you still feel stuck, one possible reason is because of improper time management.Frankly, I think the title of this article is lame because most people don’t see the importance of time management in making money. If you are thinking of skipping this issue of newsletter, it shows that I’m right. But you will regret!
Trust me. Spend some time reading this article. If you put what I’ve written here into practice, it will help you to make more money online.
Decide to trust me? Ok, let’s jump straight into the right way to manage your time as an online marketer.
Stephen Covey’s Time Management Matrix
The best and simplest time management system I’ve learnt is Time Management Matrix from Stephen Covey. His matrix looks like this:
| Urgent | Not Urgent | |
| Important | I. (Manage) crisis, pressing problems, deadline-driven projects, last-minute preparations for scheduled activities |
II. (Focus) preparation, planning, prevention, values clarification, exercise, relationship-building |
| Not Important | III. (Avoid) interruptions, some calls, some emails, some meetings, responding to some enquiries |
IV. (Avoid) trivia work, junk emails, time wasters, escape activities, viewing mindless TV shows |
.Time Management Matrix For Online Marketers
This is the matrix I’m using to manage my work and time (I save it in MS Word so that I can add, edit and delete the activities anytime):
| Urgent | Not Urgent | |
| Money Making | I. (Do it fast!)
- website improvement that has direct impact on your sales. |
II. (Consistency)
- thinking of more ways to monetise your existing websites. |
| Not Money Making | III. (Do it fast!)
- website improvement for better support but not for making money. |
IV. (Avoid)
- website improvement only for aesthetic reason. |
.How I Handle The Tasks In Different Quadrant
Another difference in my matrix is the way I handle the tasks.
Quadrant I and III are urgent matters. For such tasks, I’ll make sure that I get them done within the shortest possible time. The way to achieve this is by focusing. Let’s say you have to build a simple website. Just dedicate 2 or 3 hours and put in your 100% concentration to complete it asap. Don’t answer phone calls, check emails or do anything else.
Quadrant IV are things that you should avoid. Either you get someone else to do them, or you just dedicate the most unproductive hours to complete them asap. For example, I clear my junk emails 3 times a day, one early morning when I turn on my computer while other programs are still loading, one in the afternoon when I come back from lunch and one in the evening just after I wrap up my work and getting ready to pack for home.
Quadrant II contains the hardest things to do. Why do I say that? Because those things are not urgent and you always have urgent matters in Quadrant I and III that you are very tempted to complete. However, things in Quadrant II are the most important activities that will make you the most money!
For me, I just make sure that I consistently work on the activities in Quadrant II. For example, whenever I have time, I’ll write an extra article for directory submission. Almost everyday when I drive, I’ll be strategizing in my mind. If you consistently work on the activities in Quadrant II, your income will inevitably increase in long run.
Give my revised Time Management Matrix a try. Plot this matrix into your MS Word and insert all your outstanding tasks accordingly. Once you plugin your tasks, it will be clear to you how you should spend your next few hours and next few days!
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I have joined this program.
This program is so cool.
Thank you for your time:-)
Anton
I find myself doing alot of the good things you posted here but also find myself doing some of the “avoids”.
This is a great post and hopefully will steer me back onto track.
Good article and advice, and I use a similar
method.
Often find people get side-tracked and lose focus
then panic because they are not on track. Take a
deep breath, work out the priorities and get cracking.
It’s another Milagro day,
Jen
This is the most important subject you will ever hear.
If you can not use your time well you will never make money or have a good life. Just say thank you Stephen.Thank you Stephen.
James Jones
Hi Friends,
I thank you kindly for the quadrant diagram,
I always learn better with an image in my
head.
I use flow charts on my legal pad to keep on
track, and on time…as I age, I’m like a kitten,
always chasing butterflies, lol.
When I get distracted, I just look at my legal
pad, where I check off my goals…then I’m re-focused,
and when I DO finally check off a goal, I
celebrate that small accomplishment, and I feel
better, fresher, more determined to make this
crazy internet thingy, make our dreams come
true.
Best Wishes,
Jeff Davis CEO
http://marketing-fusion-secret.com
Great customization of Covey’s time management quadrant! Thanks for the tip…I use Dan Kennedy’s time management techniques but like how you’ve graphically displayed this!
Maria Gudelis
http://www.maria-gudelis.com
I printed this out and will keep it in front of me, use it, follow it, abuse it, and go forward with my business because of it.
Thanks you. I needed that.
Great! Just what I needed to keep me on track. As a newbie, I find that I meander a great deal. I find myself spending too much time with emails when I should be advertising, or learning something new to help my online ventures.
我需要 我努力每一个机会跟踪每一个利息我知道是为了这
You are totally right, sometimes I get so caught up in emails that I waste so much time! I know that I need to be more time organized and I also need some organizational skills! I have a a space to work in about, probably less than a small closet therefore; I must get some organization going somehow. Not only do I waste time, but also space, there’s just not enough of it. But, I will first work on saving time-no more emails to read when I have to focus on something! That’s it I’m not wasting time anymore time, you’ve convinced me!
This was illuminating! Thank you! I do spend far too much time on things in quadrant 1v, which not only waste time but make my head spin! It makes a lot of sense.
Time Management methods most often incorporate some element of the goal setting process, as a key ingredient for overall effective use of time. Whether in the personal or professional realm, goal setting is an important aspect in becoming a productive individual, who effectively manages time.
When speaking of “goals” this term will include any number of specific tasks which need to be completed, from household chores to major business proposals. Tasks to be performed are referred to as either short, medium, or long term goals, depending on the available time the individual has to complete them.
Short term goals may be thought of as daily goals. These often include everyday chores, as well as projects which need to be completed immediately. In effective time management a list of short terms goals is formulated, and each goal on that list is completed, on a daily basis.
Medium term goals are often goals that need to be completed within one week to one month of time. Depending on the amount of time required to complete the goal, a medium term may be broken up into smaller pieces, to be accomplished daily. For instance, a project which will take 6 to 7 hours to complete can be broken into pieces, requiring only 1 hour per day.
Long term goals can reflect major undertakings, such as obtaining a college degree, building a new home, or any number of other such goals. These goals are broken down into daily, weekly, monthly and even yearly goals.
For instance, to obtain a college degree in 4 years the individual will need to research financial options, register for classes, take and pass specific subjects, complete homework assignments etc… Long term goals are best managed when broken down into small sections, each one a step toward completion of the final goal.
Very valuable information. Efficiency lies in time management. This quadrant clearly shows the focuses and avoids in internet marketing business which is stuffed with so much information that high efficiency simply could not be achieved without a cool mind and time management habit.
Human beings are habitual creatures. Good habit definitely benefits the one who has formed the habit. It would be wonderful if the successful marketers contribute such healthy working habit tips.
good post, and in fact I am bit on time management sometimes i do think it is time wasting.
but after reading your post, perhaps I need to rethink again.
Kenneth,
This is a great tool, and one I use. I will just point out to your readers that what goes in each quadrant may vary, especially Quadrant II.
For myself, I have no problem coming up with new ways to monetise websites, or concepts for money-making websites, or keeping on top of what others are doing to make money online (which is the only reason I stay subscribed to most opt-in email lists).
Because I do those things without exerting any mental energy, they actually seem to me to happen without taking up any time. I don’t need to allocate time for them.
However, for me things like running split tests to improve my conversions would fall into Quadrant II. It’s not “urgent”, because sales are happening, but it IS important and I need to set aside time to implement it.
For me, traffic-generating activities are Quadrant I, because for me they ARE urgent, and I do them first without thinking. Building new money-making sites, which is QI for you, would be QII for me, because I put it off and think of it as “less urgent”, whereas you don’t.
Each person needs to set up their own four Quadrants based on their own particular perceptions, skills and habits.
As a business consultant and executive coach, I have used this with a number of people, and they are often remarkably different from one person to the next!
So, everyone, you first Quadrant II activity is to go over the Quadrants and map them on to your own personal experience and your own business. They will then be even more powerful than they are now.
(There is a great diagram in Rich Schefren’s Internet Marketing Manifesto that shows about 80 activities required for an internet marketing business - classify each one into one of the four Quadrants, and you will have your own comprehensive, personalised, internet marketing business activity plan.)
Jenny Ford
http://cash-smart-kids.com
Blogging at http://raisingentrepreneurs.org
Excellent article. I was familiar with Steve Covey’s original matrix - but love the idea of applying it to Internet Marketing.
And may I say that LeadsLeap is a great time saver. You can build your list reading ONE mailing per day, and it’s a bonus that the articles are of this quality.
Here are some pointers that should be taken into consideration in setting goals and achieving them.
Attitude plays a very big role in setting and achieving your goals. You must ask yourself if any part of you or your mind holding you back towards completing your simplest goals? If there are any part of your behavior that is being a hindrance or puts your plans into disarray? If you do have problems in these areas then the immediate thing to do is to address this problem. Solutions may include a visit to a doctor or psychiatrist to control your emotions.
Careers are made by good time management practice. Failing in a career is often attributed to bad time management. Careers require a lot from an individual which often makes the career the life of the individual. Plan how far do you want to go into your career.
Education is key in achieving your goals. If your goals require you to have a certain kind of degree or require a certain specialization or demand a certain skill to be developed, make plans in getting the appropriate education.
Your family should never be left out of your plans. If you are just starting out then you have to decide if you want to be a parent or when you want to be a parent. You also have to know if you really would be a good parent and how well would you relate to extended family members
Personal financial situations also play a major role in achieving your goals. Have a realistic goal on how much you really want to earn. You also must be able to create plans or stages by which you will be able to reach your earning potential.
Physically gifted individuals may be able to achieve sports related goals like being in the National Basketball association or National Football League. Determining your physical capabilities should be one of your priorities. Physical limitations could however be conquered with proper planning.
As the saying goes -’All work and no play makes Jack a dull boy’, or something to that effect, is by all means true down to the last the letter. Giving yourself a little pleasure: should be included into your plans.
To start achieving your lifetime goals, set a quarter of a century plan, then break it down to 5 year plans then break it down again to 1 year plans, then 6 month plans then monthly plans, then weekly, then daily.
Then create a things-to-do list for the day.
Always review your plans and prepare for contingencies.
The basics of goal settings should not be so difficult once you get to be familiar with them.
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You miss a big piece of what Covey preaches. If you are doing effective planning (i.e. goal and value centered) you will stay in Q2 and avoid all others. You also made a modification of placing all of your values on money. That is a personal choice and not judging you on that. If you were having trouble with the system before your modifications, that would be because in the value/goal process you were not honest with yourself. You tried to please the “system” that in using expamples and bringing in its own bliefs creates a guilt in you if you are not setting goals around family, friends, spirituality, etc. (now that is a whole different discussion as to if you can be fullfilled by not having something other than money driving your life). If you had just focussed on what you have here then you would have had the same info in the fields without retitling.
Also, it appears that you are planning actions into Q1 when you this is an area that happens but with proper planning you want to avoid this as much as possible.
Last personal business point. I run a very profitable online, tele, and brick-n-motar business. Customer Service is the most profitable portion on my business. The cost of aquiring new clients is just over 5x what it costs me to generate business from current clients and refferals. I have a lead product that sells for $195. Average completed ticket price is $486.87 and 12-month revenue of 765.09 plus 3.4 refferals. Without customer service it would be ave ticket if $195 and I would think I would be lucky if I could get $300 out of people in a year.
Hi Bill,
I totally agree with what you say. One should always focus on Q2. I think that’s what I’ve said in the article too.
I also agree that customer service is very important. It makes or break a business in long-term. The problem is some CS are time-consuming. For example, I receive 100s of CS enquiries from my various websites and if I were to spend time replying all the emails, I’ll have very little time to do other developmental work. That doesn’t mean I ignore CS, but I have to learn how to manage it.
Lastly, I understand your point about beliefs and value system. It’s a topic not many people understand and discussing it here will confuse readers rather than helping them. Money is never the motivation. Money is not even defined as a value, if you follow the teaching of Tony Robbins.
The modified Matrix is action orientated and the outcome of it is purely ‘money’. It’s not a ‘balanced’ Matrix for total success in life, like what the original Matrix aims to achieve.
Thanks for sharing your view. It’s good to have readers like you.
Thanks Kenneth, for writing this up. This is definitely an important aspect in running an online buisness that is often overlooked, or underlooked if you go by what the naysayers critque.
Thanks for sharing this Ken. My Dad gave me a soft cover “The 7 Habits of Effective People” in the early 90’s and just started reading it again for the 2nd time.
I find it a little ironic that you mentioned confusing readers about beliefs and value systems, as that is where I’m presently at; “Beginning with the end in mind”.
Steven definitely guides much deeper than surface things like “Law of Attraction”.
Take care Ken, and thanks for the support.
If you would like to implement some of Stephen Covey’s best ideas, you can give a try to this web aplication:
Gtdagenda.com
You can use it to manage and prioritize your Goals (in each of your life’s categories), projects and tasks, in an intuitive interface. It has a Checklists section, for the repetitive activities you have to do, important but not urgent (Quadrant II, for example your routines/habits). Also, it features a Schedules section and a Calendar, for scheduling you time, activities and for the weekly review.
Some ideas from GTD are also present, like Contexts and Next Actions.
And it’s available on the mobile phone too, so you can access it wherever you are.
Hope you like it.