What are your priorities in life? How do you prioritise things you spend your time, money, and energy on? Which prioritisation method do you employ to make decisions and plan your schedule?

What is prioritisation and what does it mean?

Prioritisation (or prioritization) is about how we order things according to perceived worth. The Oxford Dictionary definition is:

“The action or process of deciding the relative importance or urgency of a thing or things.”

We all have priorities, whether we recognise them or not. If when we do think we know what our priorities are it is good to reflect on our actions to see how well what we think we value, and our behaviours, align. In the words of Mahatma Gandhi:

“Action expresses priorities” – Gandhi

Most revealing of all is when we choose one thing over another as competing priorities demonstrate what we value the most. In other words, our decisions are influenced by our principles.

The challenge of competing priorities: an example of prioritisation

I started playing the guitar in my teens, but I had never really improved beyond a certain level.  Why? Quite simply it was because I never practised enough.  It was not that I did not like playing the guitar; it was just that I enjoyed other things more.

In my dreams, I could play like Jimi Hendrix.  In my mind’s eye, I could see myself saving the day at a gig, strolling onto the stage to replace an injured lead guitarist, and stunning my friends with amazing solos, my fingers a blur on the fretboard!  But there was a big difference between successful guitarists and me. That difference went beyond just raw talent (of which I had very little).

Guitar legends such as Jimi Hendrix or Eric Clapton would pick a guitar up at the beginning of the day and would hardly put it down until they went to bed; it is like an extension of their body.  I rarely picked mine up at all.  When practising I got frustrated or bored quickly. If I had the choice between practising for an hour or going to the gym, I would generally choose the latter.

I realised that even though I loved the guitar, I loved other things more. It was an important lesson in understanding priorities. I am now at peace with my guitar playing (and feel less guilty about my lack of practice) because I understand that my values mean that I will often prioritise other activities. This is not a bad thing, it is just a reflection of my principles.

Values and Priorities: The Magnifying Glass Tool

I think of examining priorities like using a magnifying glass. I tend to carry a magnifying glass on my travels, even if it is just a small one as part of my compass. The magnifying glass helps to enlarge our vision to reveal hidden details. It also amplifies the light we shine on something, so much so that we can even use it to create heat, even fire.

When considering the ‘Why’ question (as part of The Right Questions framework) and exploring our values (our compass) we can see how the examination of priorities (using the magnifying glass) relates to the exploration of our passions (the fire-starter) as discussed previously.

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Understanding your priorities by using the Magnifying Glass Tool

The best way to examine our priorities is to look at the evidence of how we spend our time and money. The Magnifying Glass tool does just that. It is effectively an audit of our schedule and finances. This is because, as journalist and author Germany Kent points out:

“A person’s actions will ALWAYS tell you what their priorities are. People spend their time, money, and energy on what’s important to them.” – Germany Kent

To do the analysis effectively you want to examine at least three months. This helps to even out any anomalies in your usual habits. If you can choose an even longer period then so much the better; the more data you use, the more accurate your conclusions are likely to be.

Examining financial choices

Look at your bank and credit card statements and answer the following questions:

• What are the main areas of spending?
• What proportion goes to each category of spend?
• For the ‘essentials’ (for example spending on housing, food, utilities, tax etc) how does your spending compare with average spending in your location or demographic? If there is a difference, what might this infer about your values?
• Of the money left over, what do you choose to spend your discretionary income on? What do these things (travel, eating out, fashion, music etc) reveal in terms of your prioritisation?
• How much do you save versus spending on pleasures and pastimes? How does this reflect your priorities?
• Is there anything you think you should change to better reflect your principles?

Life hack tip: Money Management

Examining how you spend your money is much easier with the help of some software. Fortunately, many online banking apps can help you easily identify where your money goes and can even create helpful reports. Alternatively, you can download financial information in .csv (or similar file types) for further analysis using a spreadsheet or other application.

Analysing the use of time

Look at your diary, schedule or calendar and answer these questions:

• What are the main uses of your time?
• What proportion goes to each use of time?
• For the ‘essentials’ (for example sleeping, eating etc) how does your time compare with the average time spent in your location or demographic? If there is a difference, what might this infer about your values?
• Of the time left over, what do you do with your spare time? What do these things (watching screens, social media, sports, vacations etc) reveal in terms of your prioritisation?
• How much do you work versus spending time with friends, family or on pastimes? How does this reflect your priorities?
• Is there anything you think you should change to better reflect your principles?

Life hack tip: Time Management

As with money, analysing time is often easier with the use of an online tool. I use my online calendar with colour coding that represents different categories of activity that reflect my life priorities. I use a weekly calendar view and block time out each day, usually in segments of thirty minutes or more. This is my main time management system and it helps me to effectively plan forward, according to my priorities, as well as make it easy to review how I have spent my time.

“You have to decide what your highest priorities are and have the courage – pleasantly, smilingly, nonapologetically – to say ‘no’ to other things. And the way you do that is by having a bigger ‘yes’ burning inside.” – Stephen Covey, First Things First (1994)

What resources do you need to achieve your goal? How do you estimate those resources for your plan? Which ways can you get the resources you need?

Quite often we limit ourselves and our plan to our present resources.  After all, it is reasonable to ask ‘Which holiday can I afford?’ before going and booking one.  Budgeting is good stewardship and I would certainly not recommend getting into debt on a whim.

But we will never be able to dream big or make macro leaps forward if we limit our goals to what we can achieve with the resources we have now.  It is better to first ask what we are passionate about doing, working out the resources required, and then thinking creatively of ways to get what we need.  That is why this question comes some way down the planning process.

The importance of logistics

An army needs logistics. A large portion of every military is concerned with delivering the right resources to the right people in the right places.  In fact, there are many more logisticians than infantry soldiers in the average army.  But the army does not exist for logistics. It has a mission to achieve. That aim is very rarely just to do with just moving men and equipment from one place to another.  Logistics is a large and essential part of achieving your aim. But it is there to support the mission, not to drive it.  History testifies to the fact that an army will beg, borrow and steal if necessary to get the job done if (or rather when) logistics fail.  You can still achieve your aim when resources are difficult to come by if you remain focussed; as the United States Marine Corps would say: you just need to ‘improvise, adapt and overcome!’

The right motivation is key

This is because there are very few times when finances and resources are fixed.  A compelling vision inspires us to innovate and save. It motivates us to earn and raise the funding that we need and find the tools to get the job done.

Why is it that many people who win the lottery often struggle. Why do they end up having spent their money within a few years?  The gambling industry sells winning as the dream; it does not provide a vision for what comes beyond that.  Many people who win do not have a clear idea of what they want to do with the money. They might take a nice holiday and pay off the mortgage but that is not a grand vision. Anyway, these things can be done without playing the lottery or the roulette wheel.

People who make (and keep) large amounts of money use it productively. Resources that continue to grow are usually driven by a vision beyond that of just making cash.  Bill Gates, the richest man in the world for most of the last decade, was not motivated primarily by money.  When he started Microsoft with Paul Allen they had a vision of a computer in every home. This dream, of how computing could transform the world, drove Microsoft. It became the most successful software business in the world and made Bill Gates a multi-billionaire.

Money, Manpower and Materiel

So we start with the dream and then work out what we need to make it a reality.  When we need to make something happen it generally comes down to the three ‘M’s:

• Money
• Manning
• Materiel

Cash, workers and equipment are all important but it is usually the first element, the money, which drives others; so this is the primary consideration here (we will look at the people issue more under the Who question).

Estimating the cost

When we have our dream or our goal, we can start to put a cost against it.  If it is hard to assess the cost for a whole goal we can break it down, as we have done previously, and cost each constituent task or step.

Remember to put a cost against the time you invest in achieving the goal.  When doing something yourself you can feel you are getting it done for free but that is not actually true.  Our time is worth something, even if it is just the opportunity-cost of not being able to do something else while we are engaged with a task we have decided upon.

Often it will turn out cheaper to pay someone else to do a task that can be delegated as this leaves you just the things that no-one else can do and you will achieve your goal all the sooner.  We will look at delegation some more under the ‘Who’, but having broken down tasks and now putting costs to them will help you make decisions on the team you might need.

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Alternative funding

Once you have estimated a cost for each individual task you will get an idea of the budget for the whole project.  Once this has been done you can start to think creatively about how to reduce the costs. Or you can seek further resources in more inventive ways (and no I am not talking about stealing here!).

For example, instead of paying for a qualified professional, could you get someone to do the work voluntarily? Perhaps you could offer them experience as an intern? If someone is still in training or education they may value the experience more than pay.  Alternatively, think about what service or product you might be able to offer someone in return. Bartering is as old as trade itself but sometimes people forget it. I have used this sort of transaction in building my business. For example I have coached people in return for help with my website.

I used this method when I employed someone to develop my website. They worked on the website in return provided some coaching to help them further their career. It was an easy win for both of us, and no cash changed hands.

Fuel the dream

Considering the resources we need and how we are going to get them is an important aspect of how we make our dreams real.  An idea becomes a lot more tangible as we think about and assess the tools and materials we need for the job. It can take some time, and may not be as liberating as some of the big picture thinking, but it is important so stick with it!

“First, have a definite, clear practical ideal; a goal, an objective. Second, have the necessary means to achieve your ends; wisdom, money, materials, and methods. Third, adjust all your means to that end.” Aristotle