In partnership with

Welcome to the Introvert Millionaire Habits Newsletter!

Here is what we’ll cover in today’s issue:

● The 80/20 Time Tracking Framework

● The 4% Rule for Financial Independence

● A Simple Quiz to Identify Your Next Side Hustle

● The Resource Roundup

Let’s get to it…

— SPONSORED AD —
A free five-day event is coming up that you might find interesting. 

The Ultimate Goal Getters Summit is happening from May 6th to May 10th.

Each day will showcase speakers who are ready to help you crush your goals and then some.

You can attend the summit for free!

But if you wanna grab the recordings for later, you totally can.

The Ultimate Access Pass takes it up a notch with TONS of bonuses, presentation transcripts, recordings, and audio files.

Click here to get more details about this free 5-day event.

— END SPONSORED AD —

📈 My 80/20 Time Tracking Framework

Are you truly making the most of your workday, or do you end the day wondering where all the time went?

What if I told you that by adopting a simple tracking habit, you could transform the way you work in just three days?

One solution is to build a productivity habit I’ve been using for the past 8 years. 

This framework flips the script on conventional time management where you focus on maximizing results, not just clocking hours.

In today’s featured article, I’ll introduce this concept and provide a simple 5-step process you can use to implement this idea.

Let’s get to it.

The 80/20 Time Tracking Framework

For many years, I was a devout follower of The Pomodoro Technique.

(It's a time management method that uses a timer to break work into 25-minute intervals, each separated by a short break.)

The Pomodoro Technique is a solid system that helped me avoid burnout and maintain focus. However, I began to feel that the rigid structure of 25-minute blocks just wasn't flexible enough for the ebb and flow of my daily tasks.

So in 2016, I decided it was time for a change.

I started experimenting with what I now call The 80/20 Time Tracking Framework.

This approach retains the discipline of the Pomodoro Technique but adds the flexibility to adapt to the varying lengths and intensities of different tasks.

This strategy is akin to performing a time audit on yourself.

A time audit is a method where you meticulously record how you spend your time, often for a week or two. It's like being a detective in your own life, tracking down where every minute goes to understand your actual work patterns versus your perceived ones.

With a time audit, you get a clear picture of how you're spending your days.

You might discover that a significant chunk of your time is spent on tasks that don't contribute much to your overall productivity or happiness.

That's where the 80/20 rule swoops in.

Side note: Watch the below video if you’re not familiar with the 80/20 rule:

By identifying the 20% of tasks that yield 80% of your results, you can start to reallocate your time more effectively.

Alright, now that you understand the rationale behind this framework, let’s talk about how to implement this framework.

Step #1: Pick a Time Tracking Tool

To get started, you need a tool that will help you track time.

Personally, I'm a big fan of the aTimeLogger2 app. It's user-friendly, has great features for categorization, and is perfect for the kind of granular tracking that this method requires.

But, it's not the only time tracking tool in the market. You might find that another app suits your style better.

Another option is the good old-fashioned time tracking worksheet. For those who prefer something more tangible or want to steer clear of digital distractions, a worksheet can be a surprisingly effective tool.

It's simple, straightforward, and doesn't require any fancy tech – just your commitment to consistently fill it out.

To give you a head start, my team and I have crafted a time audit worksheet.

It's ready for you to download here.

We've designed it to be intuitive and easy to use, so you can jump right into tracking without missing a beat.

It doesn’t matter what time tracking method you select.

The important thing is to pick one tracking tool and stick with it.

Consistency is the cornerstone of effective time tracking, and by committing to one tool, you're laying the foundation for a successful 80/20 time tracking practice.

The #1 All-In-One Platform Your Team Needs

Picture a world where workflows are finely tuned, automated to perfection, and seamlessly integrated with your favorite apps. It's not just a platform; it's a revelation—a space where managers gain unparalleled visibility into team processes, ensuring each project is a resounding success. Step into the future of work management with monday.com, where efficiency isn't a goal; it's a given.

From startups to industry giants, monday.com has transformed how teams work. Why not let your team be the next success story?

Start your trial today.

Step #2: Create “Buckets” for Your Tasks

Using aTimeLogger2 or any other time tracking app, begin by setting up categories for all the different types of tasks you do throughout the day.

My recommendation is to start 6 to 8 buckets of tasks. Then add more as you become comfortable with the tracking process. 

Be as granular as you like – the more detailed, the better.

As an example, here is a screenshot of my categories on aTimeLogger2:

And here is a brief explanation of the categories that I’m currently focusing on:

● Admin: Paperwork and similar mundane tasks.

● Blogging: Keyword research, article assignment, and optimizing conversions.

● Convos: Online conversations and meetings. (Not my favorite task…hence the “black skull” icon.)

● Education: Reviewing a course or watching YouTube videos related to a specific tactic.

● Email/Slack: Answering and writing emails/messages. 

● Finance: Calculating business expenses and forecasting future earnings. 

● Management: Assigning tasks to my virtual team and reviewing their work. 

● Newsletter: Tasks related to growing the Introvert Millionaire Habits newsletter (This will probably be my MIT for 2024.)

● Products: Researching and creating products to sell on different platforms. 

● Social Media: Engaging with people online, mostly on Twitter.

● Think/Plan: Brainstorming, idea generation, and mapping out specific strategies.

● Video: Mapping out (and reviewing) videos that are posted on YouTube and TikTok

● Writing: This includes articles, Tweets, courses, video scripts, and books. 

To create categories on aTimeLogger2, here is a simple visual breakdown of how this process works.

Tap here:

And then here:

If you need a little more help, then be sure to check out the free tutorials that aTimeLogger2 provides on their website. 

Step #3: Identify Your MIT Bucket

Before you begin to track your time, take a good look at the list of buckets or categories you've created for your tasks.

Among these, there will be one or two that are tied directly to your Most Important Task (MIT).

Your MIT is that one activity that, when done consistently, has the most significant impact on your business or career.

It's the task that, if accomplished, makes the day a success, no matter what else happens.

Side note: To learn more about this concept, here is a Twitter thread where I break down the MIT framework:

Now, your mission is to make sure that you're dedicating as much time as possible to this critical activity.

A great strategy is to tackle your MIT first thing in the morning when your energy levels are high and your mind is clear. This sets a productive tone for the day and ensures that your MIT gets the attention it deserves.

As an example, here are the MITs I’ve had over the past eight years. You’ll see that my priorities have shifted along with my different business strategies. 

● 2016 to 2018: Writing

● 2018 and 2019: A mix of writing and blogging as I split my time between self-publishing and running niche sites

● 2020 to 2023: Blogging

● 2024 (and beyond): I haven’t identified my MIT for this year. 🤷‍♂️ That’s because I’m exploring a bunch of different idea: Newsletters, course creation, products and videos. 

To further illustrate this concept, here are a few screenshots to show how my MITs has evolved over the past eight years:

2016:

2019:

2023:

2024 (So Far):

Step #4. Start Tracking Your Time

This is where the rubber meets the road.

For the next three days, commit to tracking every second of your work time.

No job is too big.

No pup is too small. (Sorry, I’m forced to a watch a lot of Paw Patrol because of my 4-year old.)

Whether it's answering emails, brainstorming, or actual project work.

Log every single work activity. 

Now, let's be clear:

This is strictly about your professional life.

There's no need to track every second of your personal time unless you're specifically aiming to optimize your work-life balance or other personal goals.

The focus here is to understand and improve how you spend your time at work.

Yes, I won't sugarcoat it – this will feel a bit cumbersome at first.

There's an inevitable adjustment period as you acclimate to the new habit of starting and stopping a timer with each task switch.

But here's a personal challenge for you:

Commit to doing this diligently for the next three days.

Just three days.

It's a short enough time to not feel overwhelming, yet long enough to start seeing patterns emerge.

What you'll find is that, over time, time tracking becomes second nature. It will seamlessly integrate into your work routine.

I've reached a point where I don't even consciously think about my timer anymore; starting and stopping it has become an instinctive part of my workflow.

And that's the goal – for time tracking to become a simple, effortless habit that you maintain without thought, almost like muscle memory.

Stick with it, and before you know it, you'll be tracking your time like a pro, with all the insights and productivity gains that come with it.

Step #5: Review Your Time Tracking Efforts

This final step is all about reflection and refinement, which are crucial for the success of your 80/20 time tracking system.

I recommend setting aside time to review your time tracking data every:

● Week

● Month

● Year

During these reviews, your primary goal is to verify that your time is being invested in tasks that genuinely matter—the ones that drive your business or career forward.

It's a time for honest self-assessment.

Ask yourself probing questions like:

● “Am I dedicating enough time to my Most Important Tasks?”

● “Am I wasting time on pointless tasks or side projects that aren't contributing to my goals?”

● “Are there time-consuming tasks that can be deleted or delegated?”

● “What tasks are adding the most value to my career or business?”

Regularly reviewing your time tracking data with these questions in mind will help you stay focused on your priorities, eliminate waste, and continuously align your daily actions with your overarching goals.

Final Thoughts on 80/20 Time Tracking

I strongly encourage you to give this habit a test run for just three days.

It's a small commitment with the potential for big revelations.

Start by downloading aTimeLogger2 or grabbing the time audit worksheet we've prepared for you.

This short experiment could be the eye-opener you need to see just how effectively—or ineffectively—you're spending your time.

Often, we're unaware of our own patterns until we lay them out in front of us.

Commit to this practice, and you might be surprised at what you discover.

Those three days could be the first step towards a more productive, focused, and satisfying work life.

So, why not start today?

Your future self will thank you for the insights gained and the improvements made.

💲Wealth Building Wisdom

Have you ever wondered how much you need to become financially independent?

You can answer this question by understanding The 4% Rule (a central framework of the financial independence movement.)

The idea here?

You save and invest until your nest egg is big enough that you can safely withdraw 4% of it each year to cover your living expenses without ever running out of money.

Here's why it's so powerful:

By sticking to The 4% Rule, you essentially create a perpetual income machine.

For example, if you've got a $1 million portfolio, you can spend $40,000 a year. It's like giving yourself a salary for life, without ever having to work again if you don't want to!

This rule is based on historical market returns and was popularized by the Trinity Study, which found that a 4% withdrawal rate typically allows your portfolio to last 30 years or more.

So, why is it key to financial independence?

Because it gives you a clear target to aim for and a reliable strategy to live off your investments. And once you've hit that number, you've unlocked the freedom to live life on your terms.

To learn more check out this article from ChooseFi.com about The 4% Rule and the math behind this concept. 

💡 Solopreneurship Spotlight

In my opinion, one of the cornerstones of Introvert Millionaire Habits is starting a business that matches your personality. 

For many of us, this starts with a side hustle.

It's a way to dip your toes into the entrepreneurial waters, test an idea, and build an income stream without the pressure of quitting your day job.

But how do you find the right side hustle for you?

That's where my friend Nick Loper comes in.

Nick is a side hustle aficionado and he's crafted a fantastic tool to help you discover your next income-generating project.

It's a quiz that curates a personalized playlist of side hustle opportunities tailored to your interests and skills.

You can check it out here.

This quiz guides you through a series of questions and presents you with a list of potential hustles that could be the perfect fit for your talents and schedule.

🗂️ The Resource Roundup

📱 Grayscale Display - Simple Productivity Hack! – Zain Halai shares a simple productivity hack to help you spend less time on your phone: turn your phone’s display to grayscale. Watch his Youtube short to learn how.

Watch this YouTube Short here:

⚡Rich in Energy – This article argues that energy, not time, is our most valuable resource. It introduces a three-step method of reviewing, rating, and removing activities or tasks from your calendar that drain your energy.

😫 The 6 Causes of Burnout (and How to Avoid It) – Scott H. Young explores the six common triggers of burnout and offers insights on how to prevent it and maintain a healthy work-life balance.

🎵 How one rapper is changing the business of music. – Mitchell Cohen shares how one of his favorite artists, Mike, is making $100k a month from his online community alone, all while being fully independent.

🌴 If you already live a comfortable life… – James Clear reminds us to prioritize lifestyle over wealth. You don’t have to sacrifice your quality of life for more money, whether by taking demanding jobs or pushing your businesses beyond what's enjoyable.

Well, that’s it for today.

Hope you have a great weekend!

Talk soon

Cheers,

Steve Scott 

P.S. Whenever you’re ready, here are a few ways I can help you:

#1. 90 Days to Your #1 Goal: How to Achieve a Breakthrough Goal in Under 3 Months: Whether it's starting a business, getting in shape, or writing a book, this course is your step-by-step framework to make it happen.

#2. Steve on Twitter: Get up-to-date messages and threads. I publish a few times a day on this platform.

#3. What is Your #1 Challenge?: Are you struggling with something specific? If so, can you take a few minutes to answer this one-question survey.