| One of the best ways to optimize your time is by managing your documents. So one of your goals should be an effective file management system to store your information so you can easily retrieve it when required. And do it within my “7-Second Rule.” That’s right. I believe you should be able to have any necessary data at your fingertips within seven seconds – whether it’s from your computer or your file cabinet/drawer.
Managing files on your computer shouldn’t be much different from the method you store your hard copy files. It comes down to a system that is convenient and effective for you. The hardest part for almost everyone is refraining from saving unnecessary information. Time management experts estimate that almost 80% of items filed away are never looked at again. The best remedy in solving this problem is to make sure the information is relevant to your goals – professional and personal. If you can’t use it, discard it.
As a side note, you should apply the 4 “D” system to every item that crosses your desktop: Do it now! Delegate it. Defer it (file it). Or Discard it.
Next, separate your interests into two categories of files/folders: reference and project. Reference files contain all of the pertinent information regarding completed scopes of work for reference purposes and to store periodic updates; whereas, project files are specifically associated to your active projects that require your present focus, energy, and time. They contain all of the documents, notes, contracts, LOIs, task lists, updates, and anything directly related to assisting you into transforming these specific projects into successes and done deals.
For example, my fireproof fire cabinet is separated into alphabetically-arranged reference files and project files as described above. But then my reference files are further divided into categories labeled administration, business/investment, and personal. And the business/investment category is further separated into the subcategories of entertainment, technology, and lifestyle. So the folder for the entertainment company Quaker Media that I co-founded with Tim Chambers is filed in the Business/Entertainment section – and each of its assets contain their own subfolder filed within the Quaker Media section. So you can see how within seven seconds I can locate anything related to the movie.
Another example would be my project of attempting to search and recover the flagship of Captain Henry Morgan (See: Passion for Pirates). “Operation Morgan” is filed within the confines of my project files (between Licensed Rum Barrel and Pop-Pop’s Class Trip). And any documents and correspondence with my partner, the historic shipwreck explorer, Burt Webber or our Haitian lawyers gets filed for easy access. One day, hopefully, the contents of this folder will become the underpinnings of a historic find - and a great book. And then I’ll transfer the folder to my reference file drawer. -- PC
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