When someone starts off with that I have a hard time following the rest of their thought.
This phrase is particularly popular with someone who posts regularly on a discussion board I frequent.
His latest comment to someone trying to get started in real estate was …
“There are 168 hours in a week, which is more than enough time to work two full time jobs and still have more than half the week left over for sleep and studying real estate.”
Now, I don’t know if he really believes this or not. From his other comments I am dubious of his time estimation and tracking skills. But, let’s look at this and talk about what he is omitting.
Okay, working two full time jobs consumes at least 80 hours each week while working for the employer. But, that is not all there is. During those 8 hours of work, there is at least a lunch break. Let’s suppose you only take half an hour. Well, now those full time jobs are consuming 85 hours instead of 80. Then there is the time to get to and from each of those jobs. Then the time needed to get ready for those jobs, showers, personal hygene, etc. Then if you have a family, you are an idiot if you are not spending time with them. What about the necessary errands like grocery shopping, and such? The more you think about it, the sillier his comment becomes.
So, his bit about you having half the week left to sleep and study real estate is much less than accurate.
The reality is part of the advice he gave to the person was correct. They need to get a job because they have bills to pay now. Maybe they even need to get two jobs. But, beyond that his “advice” collapses under its own weight.
Time management is one of the most critical skills you need to develop. Your use or abuse of the time you have directly determines your odds of success. You need to identify the time wasters and evaluate them. Notice I did not say you need to eliminate them. You might, but some time wasters are necessary.
We are not machines. It is impossible for us to stop one task and in an instant start another. The examples of 168 hours in a week guy gives are silly just based on that one undeniable fact.
It is imperative anyone doing time estimation understand the difference between “project hours” and “elapsed hours”. Confusing them is a rookie project management mistake.
November 13th, 2008 at 11:15 am
Heaven forbid if he allow illness or “playtime” with his love one to interfere his rigid schedule!
November 13th, 2008 at 12:35 pm
Ha! I know exactly who you are talking about. He claims to only spend 16 hours a week doing everything related to managing his “dozens” of rental units. I have never believed it and judgeing by the comments of the other posters at BP they don’t believe him either.