“Effective executives…do not start with their tasks. They start with their time. And they do not start out with planning. They start by finding out where their time actually goes.”
To be effective, executives must know how they use their time. Next, they must know what activities waste their time. Finally, they must consolidate time to work on the most important priorities for results.
To manage time well, one’s use of time must be understood. Drucker makes a powerful case that memory does not allow one to understand how time is actually spent. A time log usually astonishes the recorder, making him or her aware of time spent on things that do not produce results.
The second step is to analyze how one uses time. There are tasks and activities that should be abandoned or delegated such as unnecessary meetings, business travel, or official dinners. Drucker recommends asking what would happen if an activity were stopped. And if someone else can do the job better. Other things that waste time include yearly crises and corporate organizational issues. These need to be addressed once and for all.
Finally, Drucker explains the importance of time consolidation. He recounts an executive who worked on important tasks for 90 minutes with no interruptions. Then he spent 30 minutes completing urgent tasks. In addition, he consolidated his workdays for important tasks, urgent issues, and scheduled meetings. Drucker marveled at his effectiveness.
Time is an irreplaceable resource. Drucker considers it the beginning of effectiveness.
(The Effective Executive, chapter 2)