So now we have established why it’s so important to optimize our efficiency. But how to get there? Here are 3 things to keep in mind, especially when times get tough, to ensure you’re reaching your efficiency potential.
1) Effectiveness vs. Efficiency:
a) Effectiveness is to only focus on the end goal without consideration of how it is achieved (resources used, consequences, measuring metrics).
b) Efficiency is to focus on the end goal while keeping an eye on utilised resources—how the goal is achieved in terms of ethics and consequences, and in a measurable way.
Not only is effectiveness hard to scale and incompletely measurable, but it puts you in a short-term frame of mind, only focusing on the end goal and not on the future opportunity. While efficiency can be measured with the input/output ratio, and is easily scalable.
To give you a concrete example of the difference between the two concepts in the marketing world: Effectiveness is acquiring very fast, at relatively low cost, a vast number of customers by offering your stock at ½ price. Sure, people are going to take on the offer but (1) can you sustain it and still bring enough revenue in the long term? (2) you may be positioning your brand as the “cheap” one, is this your long-term strategy? (3) what sort of loyalty do you expect from these new customers once you stop the discount or on other products?
Efficiency is acquiring at an acceptable cost and pace, a growing number of customers, by promoting a unique offering. (1) the revenue per user is healthily fueling your company's overall revenue, (2) you are positioning your brand as an innovator who answers users’ needs, (3) impressed by this USP, users stay on because they trust that what you will sell them next is likely to be equally suitable to their needs and they can’t get it elsewhere.
2) Activity vs.Productivity:
You ask anyone how they are in the office, and the answer is always the same: they’re SO BUSY! Doing what? Working a 15 hour day is NOT a good sign. It may be that you’re dedicated, but it may also show that you’re not focused, you don’t know how to prioritize, and you don’t know how to properly assess your workload.
a) Productivity entails taking time to think before you get involved in projects, it implies prioritizing the most important projects, and using organizational tools.
b) Productivity means being respectful of your own work-life balance because working 15+ hours a day over a long period of time will send you straight into a burnout.
c) Being productive is about collaborating with the best experts, knowing where your strengths lie and when you need help, and being realistic with yourself.
3) Important vs. Urgent:
In this day and age where we tend to be disturbed on a minutely basis by social media, chats and emails, making a clear difference between what’s important and what is urgent is crucial. What’s important has a long term impact on your company revenue, margins, profitability, share price, employee happiness, creativity—the stuff that will fuel growth and lay the foundation of what tomorrow will look like. What is urgent is… just that… it’s urgent. It popped up on your screen just now, it’s about now, it needs to be done now. But it’s not necessarily important, although it is flashing much more visibly on your screen than what’s important. Use the above visual to make sure you classify honestly what is important and what is urgent, and you respond accordingly.
a) More important, more urgent: Respond now, see how you can do it within the requested timeline. What can you de prioritize to make room for this. Inform other stakeholders that a project has taken over the one they’re waiting you to complete. Call a focus meeting right away with people who need to drop what they’re doing to deliver various pieces of this project. Keep you eyes on the ball until delivered.
b) More important, less urgent: Incorporate this task into your workload and make sure you brief right away whoever needs to deliver if there are dependencies. The deadline may be far away so make sure you set up reminders in everyone’s calendar about deliverables, their order and deadlines, to enable the overall completion of the project.
c) Less important, more urgent: Respond immediately. If you can’t do it now, say it. It’s OK to say no but say it immediately. If you can think of someone else who can do it, suggest it. Be clear and be fast, you’re only allowed to push back within a very short period of time. Someone thinks they can rely on you.
d) Less important, less urgent: Respond promptly whether you can or can’t do this. Only do this if you have the time and you’re the only one in the company who can do it, or if this brings you some kind of benefit (position you well with the CFO who will be more open to listening to your ask for incremental budget in 2 weeks!).
I know there are lots of distractions trying to “steal your efficiency,” but I hope these tips can help you develop the incredible efficiency skills you were born with to make your life, and your work, a little bit easier, and a lot more successful.
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