Serial entrepreneur and CEO of Murphy Auto Group, Mike Murphy, utilizes his spare time by mentoring and coaching young entrepreneurs. When he’s not in the office at one of his 5 automotive dealerships, or spending quality time with his wife and newborn daughter, Mike is sharing his knowledge and tips with new business owners.
Mike is currently coaching three individuals who are either running businesses of their own, or looking to do so in the near future. Mike dedicates a huge portion of his time and efforts to his students, in hopes that they will become greatly successful in their ventures.
One of Mike’s most valuable lessons that he has taught is regarding Time Management within a business. When presenting this lesson, Mike explains that, “Time management is important because time is the only thing you cannot get back”. Mike trains his employees to spend time on productive and proactive topics, which ultimately will help any business flourish.
When teaching this lesson to his employees or the students he is mentoring, Mike breaks down the concept with a visual.
Typically, the tasks to be completed in each work day can be broken down into 4 categories: Proactive, Reactive, Productive, and Non-Productive. Proactive refers to any task, goals or projects that YOU initiate. Reactive refers to tasks, goals, or projects that others initiate. Productive refers to tasks, goals or projects that assist you in accomplishing your desired Outcomes. Lastly, Non-productive refers to tasks, goals, or projects that do not assist you in accomplishing your desired outcomes.
In addition to this, Mike separates the work day into 4 quarters based on the given category of the task. Quarter A is defined as Non-Productive Proactive tasks, goals, and projects done daily. Examples of this can be eating lunch, or catching up with friends and family members. Quarter B represents Productive Proactive tasks, goals, and projects done daily, including completing your goals for the day, or in terms of Murphy Auto Group, selling a car. Quarter C represents Non-Productive Reactive tasks, goals and projects done daily. This can be things like joking with customers or coworkers. And lastly, Quarter D represents productive reactive tasks, goals and projects done daily. This includes meetings, helping your boss, or attending training sessions.
Based on your role in the business, each quarter should take up a certain percentage of your time. Mike truly believes that by following this time management structure, employees will have an increased productivity rate. He finds it extremely important for employees to understand where they spend the most of their time, and how they can alter this based on the needs of their job position. Remember to spend as much time as possible in Quarter B and the least amount of time in Quarter C.
To learn more on time management, follow @realmikemurphy.