Procrastinate at your peril

“Procrastination is opportunity’s natural assassin.” – Victor Kiam

The failure to finish important tasks is one of the major challenges that can stop you from achieving your financial goals. Many persons truly desire to improve their finances, but their dreams fade away because they make little effort to carry them out. Talking about your goals is great, but you have to take action in order to achieve them.

Years ago, I realised that my habit of procrastinating was seriously hindering my ability to create the financial lifestyle that I desired. Although I learned the right steps to make with money, many times I put them off for a later time that never arrived. I have regretted instances in the past where opportunities remained unfulfilled just because I didn’t act in time.

I had attempted to conquer my habit of procrastination by reading about ways to become more efficient in my use of time. My attempts to change were largely unsuccessful as I would often put off doing the recommended action items!

However, I knew that if I was going to be successful with money, I would have to learn to slay the dragon of procrastination, once and for all.

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In my search for solutions to this problem, I discovered a book with a rather unusual name written by bestselling author, Brian Tracy. In Eat That Frog!, Tracy promised to disclose 21 ways to stop procrastinating and get more done in less time. This resource appeared to have several answers that could help me to cure my efficiency problems.

Too many things, not enough time

The peak performance expert immediately revealed a painful reality that I needed to accept. “There is never enough time to do everything you have to do,” Tracy asserted. “The fact is that you are never going to get caught up; you will never get on top of your tasks.” Surprisingly, he also advised against trying to become more productive in order to solve time management problems.

Tracy explained that the only way to get control of time was to change the way that you approached the never-ending stream of responsibilities that came your way. The key was to stop doing multiple things and “start spending more time on the few activities that can make a difference in your life.”

In order to be effective, Tracy pointed out, you have to learn how to select the most important task at each moment, and then quickly get going on that particular activity. “If the first thing you do each morning is to eat a live frog,” he clarified, “…that is probably the worst thing that is going to happen to you all day long.”

In Tracy’s analogy, your ‘frog’ is the most important task that you need to accomplish, and the one that you are most likely to procrastinate about. He emphasised that if you carried out the ‘frog’, it would have the greatest impact on your life and your goals. “Start with the biggest, hardest and most important task first; persist until the task is complete before you go on to something else.”

An action plan for success

I immediately realised why so many of my crucial financial plans were half-finished – they usually were the hardest to do, so they were the easiest to let slide. As Tracy advised, I needed to commit to eating my frogs first, not stopping at the task until it was complete, in order to get the results I desired.

I also recognised that I was wasting time on unimportant things, having lots of activity but achieving little. “One of the worst uses of time is to do something very well that need not be done at all,” Tracy insisted. In order to break the procrastinating habit and focus on your priorities, you would need to develop three key qualities of decision, discipline and determination.

“Before you can determine your ‘frog, Tracy explained, “you have to decide exactly what you want to accomplish in each area of your life.” To start this process you need to write down your goals, set deadlines, make a list of everything needed to achieve your objectives, and organise the list into a plan. Then, you must take action immediately and do something every day towards your goal.

What frogs do you need to eat?

It is possible to achieve all of your financial dreams if you decide to tackle the most essential elements first. Do you need to start reading books to learn more about being successful with money? Do you need to research all your past expenses in order to create a workable budget? Do you need to take time off from work and visit a financial institution to open an investment account?

Stop procrastinating and get those important tasks done today – eat that frog!

Copyright © 2011 Cherryl Hanson Simpson. No reproduction without written consent.

Originally published in The Daily Observer,  March 3, 2011

See other articles on Procrastination:

Is Procrastination Destroying Your Financial Dreams?

Are You Sitting On Your Money?

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Cherryl is a financial consultant and coach, founder of Financially S.M.A.R.T. Services. See more of her work at www.financiallyfreenetwork.com and www.financiallysmartonline.com. Contact Cherryl