Wealth Handbook

You can balance your basic checkbook using Excel if life is simple.  It’s just you.  It works.

But if you want to share the process with others (spouse or business partners for example) Google Forms is the way to go.  Just set the fields you want, whether data are required to be entered in each field, and you’ll get consistent results.

Just bookmark the link to access it easily.

And what about security?  It’s safe if you don’t put the account number or other personal information in there, you can share it without security concerns.  Even if others saw it, so what?  And if you want to be a little more cautious, require a login to access it.

Google Forms is also useful for other ordered logs such as car maintenance records, and mileage logs (for work/business purposes).

Now that you’ve eliminated a lot of junk email by unsubscribing relentlessly, filtering routine and unimportant messages, and sorted through your back log of messages, the next tactic for further reducing your email volume is to communicate more succinctly with better closure.

Instead of responding to each email, consider how you can create a situation where the other party only needs to respond to exceptions. 

There are 4 parts to each of these messages, and they are structured as follows:

If [true] no action…
If [false] please [action] by [deadline].

Here’s a plain English example:

Mark,

Following up on our meeting I will have Amanda schedule our monthly conference calls for the 24th. 

If this is fine with you, no need to respond.

If you need to change the time slot, please email me by COB this Thursday with the new information.

Thanks,

David

There are many ways this method can be applied.  Rather than having your messages disappear into a blackhole and wait for a response, this puts the onus on the recipient to respond or you’ll do what you stated.

In order for this to work there has to be some level of basic trust and transparency.  If someone is prone to not following through, they’re still not going to follow through.  It’s also the sender’s responsibility not to abuse it by being too stringent on the recipient, for example setting a deadline that’s too soon).

This also works when used in-person but is best done on email where there is a trail or record.

If what you need is a response, an effective technique is the second attempt. 

After a reasonable length of time, if I have not received any response to an earlier email requesting a response (e.g. asking a question) I will get the message from the sent box and resend it, adding [2nd try] to the beginning of the subject line.

That usually gets the recipient’s attention and a response.  I’ve never needed to elevate it to [3rd try].

In the space of 5 weeks I did a before/after comparison between the interruptions and inbox items I had to handle each week. 

First I tracked the number of phone calls, interruptions, and emails I had to deal with to get a baseline.

Then I tried strategies described in these posts:

How to Un-Dilbert Your Life, Part 1
How to Un-Dilbert Your Life, Part 2
How to Un-Dilbert Your Life, Part 3
How to Un-Dilbert Your Life, Part 4
How to Un-Dilbert Your Life, Part 5

A few weeks later I tracked the results again to figure out if I reduced time spent on those tasks.  Here’s what I found:

Incoming Phone Calls

The first week I received 19 phone calls (and one voicemail).  These calls kept me on the phone about an hour and a half (1:33 to be exact).

By forwarding my calls to voicemail via Google voice I was able to avoid answering the phone completely.  The amazing thing is that I’ve left it going that way permanently.  There hasn’t been the problem I worried about.  No one has even noticed.

In-Person Interruptions

Interruptions have fallen from 2:47 down to 0:40 minutes.  They’re now down to a very manageable 5 minutes/day, which is pretty good considering I work in a normal office like many people.

Email

Even email volume has declined.  The first week I received 193 emails, send 88 messages and read 141.  By last week I received 83 emails, send 55 and read 67.

At the beginning I thought if people couldn’t call me or find me in person, they might email more. 

By unsubscribing to every non-essential distribution list, mailing list, and communicating more clearly in emails with regard to tasks, deadlines and processes my email volume has been drastically reduced.

One downside of unsubscribing to a lot of newsletters though is I believe I’m getting slightly more spam now, but it’s well worth the risk.

Conclusion

I’ve changed my behavior which has also influenced that of others around me to some extent.  If the way I’ve gone about has also made it easier for others, as opposed to me just shoveling more work to others, then I think it’s making it easier for everyone.

Remember what you need to do before you head out of the house each day.  Put a morning checklist somewhere you’ll be sure to see it such as inside the front door, on the refrigerator, or on the bathroom mirror.

This is especially helpful for things you tend to overlook or find a chore to remember to do.

It can be a simple list, or be a list for each day of the week, or it can be a simple list with variations for certain days.  For example:

This is a simple and effective way to ease into the habit of mastering a process.

Ideally meetings only take place when participants absolutely need to exchange information, they start and end on time, and an agenda is always prepared (and adhered to).

Notes to take in meetings include who is present, who is assigned to do what and by when, and key points.  I handwrite them rather than typing.

Every page has the date and a page number on it.  Use symbols in the left hand margin to indicate tasks and certain notes.  I use a star or asterisk to indicate a task I have to do, “M” for meeting-specific notes, and “P” for process notes related to more global concepts. 

At the end of each page I use an arrow to indicate there are more pages, or I write “END” so I don’t have to wonder later if there are missing pages.  Here’s an example of my notes.

After the meeting, scan your notes into PDF format and take care of your To Do items either ASAP or add them to your master list.  PDFs are also convenient for distributing to colleagues.

Then file your hardcopy notes and PDF files in chronological or topical folders (e.g. “July 2009 Meetings” or “Project X Meetings”).

While very powerful, email can be a little too convenient for some.  The advantage of email is that it does not require a real-time response like phone calls and instant messaging. 

So turn off any alarms or buzzers that let you know when messages arrive.  In fact, don’t let your email client automatically check mail.  It’s just a distraction.

Set specific times for checking and responding to emails.  Tim Ferriss advocates twice/day in The 4-Hour Workweek.  I’ve managed to get it down to 3 times/day on good days.

Email Plan

The goal is an empty inbox and no overdue tasks.  Every email presents only 5 possibilities:

1. Take action now
2. Take action later
3. Must/Should read, no action
4. Want to read, no action.
5. Don’t read.  Delete or file.

Use the Email Worksheet (PDF) to identify how much of your email falls into each group.  Most will probably be unimportant.   See my example (PDF) of how much was junk.  I could probably cut it down to 3 or 4 categories, but these 5 made it easier for me to quickly prioritize.

Further, using this helps you think about what to do with each message and reduces the chance you will get stuck, not take action, and let messages pile up.

Cut Relentlessly

By unsubscribing to everything that I didn’t want or immediately need to read, you can see (unsubscribed emails were counted as part of “Don’t read”) there were 13 mailings that week alone that I cut.

Take Immediate Action

Try to minimize the number of emails that require action later.  These are the ones with the greatest chance of piling up.  Do whatever you can now or, if you need additional info, try to have it by the time you next check your email and clear it out.

Once Read, Delete or File

Don’t let messages stay in the inbox.  Delete or file them appropriately immediately after reading.

Use Autoresponders

This will 1) Let you avoid email while away and 2) Reduce your load when you get back.   

Tip:  No one says you have to actually be on a trip to use messages like this.  Use it any time you want a buffer:

I am currently away and will return on [date].  At that time I will respond to emails if specifically requested.

-OR-

I’m currently away and will respond when I return if specifically requested.

-OR-

I’m currently away and will respond when I return if necessary.

As with other types of interruptions, try these techniques and complete another worksheet in a month and compare your results.

Use the Incoming Phone Calls worksheet (PDF) for a week to track how much time you’re spending.  It will show you how much is spent on high, medium, and low priority calls.

Start any day of the week, don’t change your actions, and jot down about how long you’re on the phone with each caller.  See my week (PDF).

At the end of each day, tally the number of calls and voicemails (VM) you received and how long you spent.  After the week add up the total.

Assuming all VMs were actually necessary, the “No Message” count is the number of unimportant calls you avoided (unanswered calls that did not result in a VM).  So the first step from now on is just don’t answer the phone.

Fortunately, in my group if anyone needs anything they just come see me in person or email.  So I’ve dispensed with everything and simply forwarded my work phone straight to Google Voice, set to voicemail. 

This system allows call screening/presentation to transcribe VMs to email or SMS which eliminates time spent calling your VM account, entering your PIN and then having to listen to audio, especially when callers are long winded.  It’s faster to read or skim your messages.

Any time I get a VM it’s transcribed to my email inbox where I can see and prioritize it.

If you have to answer the phone, use a smart system to screen or forward your calls appropriately.  Don’t ignore the boss BUT don’t let him/her monopolize your time either. 

Forward your work phone to your Google Voice number, then have Google forward calls to your cell phone number.  That way messages will be recorded on Google, transcribed and emailed to you.  Messages will be saved in your Google Voice account, and you can also forward the email to others (delegation) or paste into your calendar.

Key Point from Google:  “If you don’t respond to a call within 25 seconds (by accepting, sending to voicemail, listening in on voicemail, or accepting and recording the call), Google Voice will send the caller to Google voicemail.”

So make sure the phone you’re forwarding to takes longer than 25 seconds to pick up if you want to use Google voicemail instead of that phone’s VM.

Implement these methods and complete another worksheet in a month.  Compare your results.

Do you know how much of your time is being whittled away by needless interruptions? 

Use the Interruption Worksheet (PDF) to track for a week how much is lost.  It will show you how much is not work-related, and how much is not important.

Start any day of the week, don’t change your actions, and jot down about how long each person interrupted you after they leave.  See my week (PDF).  Be discreet about using this sheet. 

At the end of each day, tally the number of times you were interrupted and how much time it took.  After the week add up the total.  This is your starting point.  Astonishing isn’t it?

In my experience you can see I had a particularly distracting Monday with 7 interruptions taking up nearly 1.5 hours.  In the course of the week just 10 minutes of the interruptions were work-related and necessary.  More than half the time was taken up by unnecessary work-related interruptions.  The rest by things not even related to work.  Drastically reducing this will help regain about half an hour a day.

Reduce Interruptions

Close the door if possible.  Some people may not like that as it says “I’m busy”.  They will get over it.

When someone asks if you have a minute, you could say “Yes, but only 1 minute”.  That tells them you’re busy and they’ll (hopefully) make it quick.  Expect it to take at least a couple of minutes.  Or you could say “I’m in the middle of something. Email would be a lot easier.”

Another technique is to not be in your office.

Go to a conference room, preferably one with low usage and visibility.  Bring your materials, papers, laptop (if needed), etc.  Forward your phone if you wish (see Part 3 for screening phone calls).

Get People Out of Your Office

Here are some ways to hint you’re done “meeting”.

Stop talking, especially if it’s not project related.
Shuffle papers on your desk.
Look at the clock or your watch.
Lean forward in your chair, like you’re getting ready to stand.
Excuse yourself to go to a meeting or the restroom (this always works).

Keep practicing these methods and complete another worksheet in a month.  Compare your results.

Do something (and love it) as an end in and of itself now, not for the rewards that may come.  That’s when you’re in the zone, time and ego are suspended, and you are at your very best.

That’s the message of the book “Flow: The Psychology of Optimal Experience” by Dr. Mihaly Csikszentmihalyi.  Here’s one of my favorite passages (Ch. 4) which has taken me a long time to fully appreciate but it’s spot on:

An autotelic experience is very different from the feelings we typically have in the course of life.  So much of what we ordinarily do has no value in itself, and we do it only because we have to do it, or because we expect some future benefit from it.  Many people feel that the time they spend at work is essentially wasted - they are alienated from it, and the psychic energy invested in the job does nothing to strengthen their self.  For quite a few people free time is also wasted.  Leisure provides a relaxing respite from work, but it generally consists of passively absorbing information, without using any skills or exploring new opportunities for action.  As a result life passes in a sequence of boring and anxious experiences over which a person has little control.

The autotelic experience, or flow, lifts the course of life to a different level.  Alienation gives way to involvement, enjoyment replaces boredom, helplessness turns into a feeling of control, and psychic energy works to reinforce the sense of self, instead of being lost in the service of external goals.  When experience is intrinsically rewarding life is justified in the present, instead of being held hostage to a hypothetical future gain.

Your work is essentially a set of queues and inboxes.  You are waiting for other people to do something, other people are waiting for you to do something, and tasks are waiting for you to complete.

These come in the form of in-person interruptions, phone calls, faxes, emails, snail mail, meetings and on it goes (blogs, Twitter, etc).

Accept the fact that the bulk of your present activities produce little or no value. It’s a bitter pill to swallow.  You waste significant amounts of time and energy on things that don’t matter.

You just feel compelled to engage in low/no-value activities most of the time.  But it’s a habit you can break by:

1. Systematically eliminate the irrelevant.

2. Set the pace (throttle).

3. Clarify and process the remainder.

To focus on your core mission, make room for it in terms of your physical workspace, time and mental capacity:

1. Stop In-Person Interruptions

2. Check snail mail once/week.

3. Don’t answer the phone.

4. Check work email only twice per workday

5. Master the Art of Meetings

All you have to do for each is track how much time you’re wasting, and cut all that’s not necessary. More to follow.