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How to get more value for your time

Everyone uses mental models to simplify how the world works so you can understand what is going on, make decisions and solve problems.

At the edges of the convenience trade, the inspiring Women in Wholesale network attracted 120 executives to its Speed Mentoring event last week to help shape a winning mindset.

Attendees moved in groups across the 12 tables each of which explored a different idea about how to become more successful. While the focus was on helping women break through glass ceilings in an industry that has been traditionally male dominated, the lessons work for everyone.

People deploy two types of mental models. Models that govern how they interpret the world. And models that govern how they think. Get them wrong and you don’t make progress.

Using your time well was the subject that business coach Carol Glover explored. “Only you can choose how you spend your time,” she says.

Do important things first every day. Be prepared to physically remove yourself from day-to-day distractions. Get others to do less productive tasks. If a task does not add value, stop doing it.

While Glover clearly organises her time well she advises people not be perfectionists. Block out 20% of your time to do the things that deliver 80% of the results.

This is clearly a good rule of thumb and should be used more by retail owners. Too many get into the habit of working long hours.

As retail involves a great many small interconnecting decisions and actions, it is easy to create a mental model that justifies spending time on tackling the tasks that are immediately in front of you rather than keeping a focus on the big picture.

Nick Shanagher, Founder

www.newconvenienceretailing.com

 

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