One of the first things you learn when entering the business world is the implicit value of time. It’s the one resource that is absolutely essential and yet can’t be increased. Time management is easily one of the most important variables in the equation for success. Indeed, it pays to think of your business’ success as an equation to get a sense of the value of its components. Here’s my go-to formula:
Success = (Talent + Innovation) * Productive Time
Thinking in these terms you can easily see the outsize value of time management. Squeezing a little bit more productive time out of your day actually has a greater effect on your overall success than any other component. The problem is that while you can permanently increase your talent, and augment innovation using many of the tips found in this magazine, your time will always be strictly limited.