Get Work-Smart
“Work smarter – not harder”.  It’s easy to say but not so easy to do...

Just because you’re at your workplace doesn’t mean you’re actually getting work done. For as fast and demanding as today’s work environment is, it’s also become increasingly inefficient. Between the never-ending emails, phone calls, interruptions and endless meetings, productivity often takes a back seat. You can hear yourself saying – “As soon as it slows sown, I’ll get things sorted". Without the proper tools to combat these issues, team focus often vanishes, which is why so many are forced to work outside of normal business hours just to make up for time lost during the work day.

Here are some suggestions on how to get back in control:

Prioritise

Assess everything that needs to be done - Before you plunge into something headfirst, remember that enthusiasm needs to be tempered with wisdom. Create a space to think things through.  Look over every aspect of the job, and allow yourself ample "pondering time" so that you can be sure that every detail is accomplished on time and accurately. 

Make an outline - Whether it's in your head or on paper, you should have a list in mind and follow it in order. You don't want to repeat steps, duplicate the efforts of others, make mistakes or forget anything. A list helps you to understand the scale of the task and why you’re under so much pressure.  This understanding alone can make it easier. 

Learn to say no - Avoid over-scheduling yourself and be realistic about what you can accomplish in a single day. 

Limit your goals - Try to avoid multi-tasking because you often get less done since your brain is switching back and forth between tasks. Pick one thing to work on and put your best effort into that until it is accomplished.

Dealing with Clients

Communicate well - If you are in business make sure your clients understand what the typical turnaround time will be for a project. Do not be influenced by their insistence that their job requires a big rush. Most businesses have more than one client, yet many clients forget that their job is not the only one you're working on.

Never accept a bad job - You know when a job is going to be great. A client or employer, who pressures you into areas where you are not comfortable, either because it is an unreasonable expectation or because it's outside your scope, needs to be made immediately aware of your discomfort with the job as proposed. If you are self-employed, declining a job like this is much smarter even though it's hard to let money go.

Getting More Done In Less Time

Consider your materials - Don't take shortcuts on the quality of your materials. Cheap materials or tools are harder to work with because they aren't as sturdy or efficient. Trying to save a few dollars, but spending an extra hour or two because those cheap devices didn't install properly doesn't make sense.

Evaluate your methods - You want them to be as efficient as possible. Do your work when you have no distractions around you. Try to do tasks in batches rather than one at a time. You want your efficiency to be maximized as much as possible.

Look for shortcuts - For example, if you respond to numerous e-mails each day and answer the same questions again and again, save your responses. When those questions come up, you can cut and paste your saved response. You might have to make minor edits, but the bulk of it will already be written.

Delegate - Make sure your team is well-ordered. If one person is more skilled and accurate, put them on the part of the task that is most critical. Leave very few tasks for yourself and only those which require your unique expertise. Delegate everything else if you can.  Be clear in what outcomes you expect and by when, with clear instructions. Keep an eye on your team and give them guidance – but don’t do their job for them. Many hands make light work.

Avoid procrastination - Every time you surf the net or needlessly check e-mail at work, your day becomes longer. Push yourself hard to do work when it's time to do work and enjoy these activities once you're done for the day.

Be flexible - Your day will not always go as planned. Be open to trying new methods.
 
Take Care of Yourself

Rest - Ideally you should be getting 8 hours sleep a night. Working 12 hour days is not sustainable. After a certain point, your body becomes tired and your mind wears down, leading to more frequent lapses in concentration and unnecessary mistakes. 

Periodic breaks - Even at the office, you need to allow time for your mind to regroup and recharge. Push yourself hard for the first 50 minutes of every hour and then reward yourself with a 10 minute break.

Recognize the point of 'diminishing returns' - Don’t work yourself to the point of exhaustion. You need to protect your health and the integrity of your job or business. Working yourself to a frazzle makes you prone to mistakes. When you realize it's taking you two or three times longer to do a job than normal, call it a day.

The IRD has confirmed that the various OM-IP investments are FIFs (Foreign Investment Funds) under the NZ taxation laws. While investors and advisors believed the investment was Australian, the reality is that they were only managed through Man Investments in Australia, but were resident in the Cook Islands, and are therefore not exempt from the FIF rules.

Because there was such a widespread misunderstanding the IRD has given taxpayers a reasonable opportunity to address the issue and make disclosure with no penalty other than UOMI. This window of opportunity will soon close. If you have not yet disclosed and do not do so before this closes, shortfall penalties will almost certainly be applied. The IRD plans to contact investors regarding the tax outstanding.

One further development is that the IRD is proposing to take the position that investments in OM-IP companies are on revenue account. On that basis any disposal will be taxable regardless of the FIF. If the taxpayer is under the de minimis threshold and then goes over, the consequence is a deemed sale at market value. If a taxpayer sells before maturity, any gain made will be taxable. Further, when the investment is cashed in the gain will be taxable.

For more information or if you require help please contact us.