Have you ever tried to tackle something on your to-do list but had no idea how long it was going to take? Or have you wanted to finish something soon rather than later but found yourself waiting until the last minute to have it done?
Many of the accountants that I teach and coach have an issue with procrastinating, so if you tend to procrastinate as well, it’s not your fault. I have found that accountants tend to procrastinate for a few reasons:
1) Our work is complicated and takes effort
2) We’re often stressed and overwhelmed when we’re trying to complete our work
3) We’re unaware of how Parkinson’s Law affects our time management
For the first issue – our work is complicated and takes effort – I’ve spoken numerous times on the podcast about the Motivational Triad. It basically explains our lower brain’s tendency to seek pleasure, avoid pain, and conserve energy.
The Motivational Triad makes it challenging to get our accounting work done because our work is often not pleasurable and takes a lot of mental effort to do what we do. It’s no wonder we tend to procrastinate, especially during deadlines.
The second issue – we’re often stressed and overwhelmed when we’re trying to complete our work – is also completely normal for accountants who haven’t been taught or coached by me. I’ve said this many times, but if you don’t understand how to manage your brain, you’ll never be able to better manage your time.
Brain management is the secret to better time management because brain management makes it possible to feel focused as opposed to stressed and overwhelmed. Brain management makes it possible to get more done in less time because you understand how to use the best fuel to drive your actions.
The third issue – we’re unaware of how Parkinson’s Law affects our time management – is what I’m going to be discussing in today’s podcast. Again it’s not your fault if you don’t know anything about Parkinson’s Law, but you’re going to want to understand its role in your ability to manage your time.
Understanding Parkinson’s Law will make it possible to see how much control you actually have over your time. It will make it easier to get more done in less time and help you to create more time for the things and the people you love.
This week I’m going to discuss what Parkinson’s Law is and how to use it.
Parkinson’s Law
Parkinson’s Law is a concept that states the time you give yourself to complete a task is how long it will take to complete it. This means that if you give yourself a month to complete a project, it will take a month. If you give yourself a week, it will take a week.
In essence, the amount of time you give yourself to complete a task will determine how long it will take to get it done.
At first glance, this may seem like a simple observation. However, Parkinson’s Law can have a profound impact on our productivity and success. By recognizing the power of Parkinson’s Law, we can take control of our time and achieve our goals more efficiently.
Even though we work and live in a deadline-driven world doesn’t mean we use deadlines properly. In fact, one of the main reasons why Parkinson’s Law is so powerful is that it forces us to set clear deadlines.
Without deadlines, we tend to procrastinate and put off tasks until the last minute. However, when we give ourselves a specific timeframe to complete a task, we are more likely to stay focused and work efficiently.
Remember, our lower brain loves things to be efficient, therefore, creating self-imposed deadlines makes it possible to get more done in less time. The best part is that understanding Parkinson’s law can help us avoid the stress and anxiety that often come with procrastination.
Another benefit is that Parkinson’s Law can also help us avoid overthinking and over-analyzing tasks. When we have too much time to complete a project, we may be tempted to spend more time than necessary on certain aspects of the task.
For example, if we are writing a report and we have a month to complete it, we may spend hours agonizing over the wording of a single paragraph. However, if we only have a week to complete the report, we are more likely to focus on the most important aspects of the task and avoid getting bogged down in unnecessary details.
Another benefit of Parkinson’s Law is that it can help us prioritize our tasks more effectively. When we have a limited amount of time to complete a task, we are forced to decide which tasks are most important and focus on them first.
This can help us avoid getting sidetracked by less important tasks and ensure that we are using our time as efficiently as possible. It can cut down on decision fatigue which is one of the biggest time wasters for accountants.
Of course, Parkinson’s Law is not a magic solution that will instantly make us more productive. It takes discipline and effort to set clear deadlines and stay focused on our tasks.
However, by recognizing the power of Parkinson’s Law and using it to our advantage, we can achieve our goals more efficiently and with less stress.
How to use Parkinson’s Law
So, how can we apply Parkinson’s Law in our daily lives? One way is to set specific deadlines for our tasks and projects. Instead of giving ourselves an open-ended timeframe to complete a task, we can set a specific deadline and work towards that goal.
We can also break larger projects down into smaller, more manageable tasks with their own deadlines. I have found that self-imposed deadlines, rather than work-imposed deadlines make it much easier for me to be done in advance of a normal deadline and not feel that last-minute pressure that many accountants feel.
Another way to apply Parkinson’s Law is to use timers and other tools to stay focused and on track. For example, we can use a timer to limit the amount of time we spend on a particular task which can help us avoid getting distracted or losing focus.
It’s important to see how Parkinson’s Law can be applied in many different settings, not just getting your accounting work done:
Meeting Management: Meetings can often drag on for hours, and end up being unproductive. To avoid this, set a specific time limit for each meeting.
This will help ensure that everyone stays on track, and that the meeting stays focused on the main agenda items. You may also consider having a clear agenda in advance, so that participants come prepared and ready to discuss the topics at hand.
Project Management: If you have a project with multiple tasks to complete, set specific deadlines for each task. This will help you to stay focused on the most important tasks, and ensure that the project stays on track.
It also helps to break up the project into smaller, more manageable tasks, and assign specific responsibilities to each team member.
Goal Setting: Parkinson’s Law can be applied to goal setting by setting specific deadlines for achieving your goals. For example, if you want to lose weight, set a specific target weight and a deadline to achieve it.
This will help you stay motivated and focused, and you’ll be more likely to achieve your goal within the set timeframe.
Financial Management: Parkinson’s Law can be applied to financial management by setting specific budgets and sticking to them. For example, if you have a monthly budget of $1,000 for groceries, try to spend less than that amount.
This will help you save money and avoid unnecessary expenses.
Learning: Parkinson’s Law can be applied to learning by setting specific goals and deadlines for mastering a particular subject. For example, if you want to learn a new language, set a specific target to achieve fluency within six months.
This will help you focus your efforts and make progress toward your goal more efficiently.
Team Management: Parkinson’s Law can be applied to team management by setting specific goals and deadlines for team projects. For example, if you have a team working on a project, set a deadline for each milestone.
This will help you manage the team more efficiently and ensure that the project is completed on time.
Email Management: If you find yourself spending too much time on email, set a specific amount of time each day to devote to checking and responding to emails. For example, you may decide to check your email for 30 minutes at the start of each workday, and then not again until the end of the day.
By limiting the amount of time you spend on email, you will be forced to prioritize which emails are most important, and respond to them efficiently.
Personal Productivity: When working on personal projects, set yourself a specific time limit for each task. For example, you may decide to work on a specific task for 30 minutes, and then take a break.
This will help you stay focused and avoid distractions, and will also help you to accomplish more in less time.
These are just a few examples of how Parkinson’s Law can be applied in various settings. The key takeaway is that by setting specific deadlines and time limits, we can be more productive, efficient, and focused in our work.
Parkinson’s Law is a powerful concept that can help us take control of our time and achieve our goals more efficiently. By setting clear deadlines, staying focused on our tasks, managing our brain so that we can make decisions ahead of time, we can harness the power of Parkinson’s Law to achieve success in our personal and professional lives.
Summary
Understanding Parkinson’s Law will make it possible to see how much control you actually have over your time.
It’s important to see how Parkinson’s Law can be applied in many different settings, not just getting your accounting work done.