If better time management is something you’re interested in, this episode is going to be super helpful.

Let me start by asking – do you ever find yourself staring at a seemingly endless to-do list, wondering how on earth you’ll get it all done? Or maybe you’ve experienced the frustration of wanting to finish a task sooner rather than later but end up waiting until the last minute? 

If you can relate, you’re not alone.  In the fast-paced world of accounting, the struggle with time management and procrastination is shared by most of us, whether we’re in public or private accounting.  

I want you to know that it’s not your fault.  It has nothing to do with your capabilities and everything to do with your accountant brain.   

Many of us deal with issues with productivity, but today, I’m going to be diving into the solution: Parkinson’s Law.

But before I get into what Parkinson’s Law is and why it’s important for accountants to understand, I first want to address why accountants procrastinate? In my experience, there are three main culprits tend to be at play:

Our Work is Complicated and Takes Effort: Accounting isn’t a walk in the park. It involves complicated financial puzzles and demands mental effort that can make even the most dedicated accountant procrastinate, especially when deadlines are looming.

Stress and Overwhelm: The pressure we feel as accountants often leaves us stressed and overwhelmed. And do you know what doesn’t make it possible to get accounting work done efficiently?  Stress and overwhelm!  If you’ve ever felt like you’re drowning in a sea of tasks, you’re not alone. But here’s the truth – it doesn’t have to be this way.

Unawareness of Parkinson’s Law: Many accountants are unaware of this game-changing principle that affects how we manage our time. I want to help to demystify Parkinson’s Law and show you how it can be your secret weapon against procrastination.

So, what is Parkinson’s Law? In simple terms, it states that the time you give yourself to complete a task is how long it will take. Whether you set a month or a week, that’s how long it will take to complete.   

Seems straightforward, right? Yet, the impact of Parkinson’s Law on our productivity and success is nothing short of profound.

In today’s episode I’m going to unravel the many layers of Parkinson’s Law, understanding how it influences our work habits and, more importantly, how we can use it to our advantage. Imagine having the ability to take control of your time, accomplish more in less time, and create space for the things and people you love – all by embracing the principles of Parkinson’s Law.

If your time management could use some help, get ready to change the way you approach your to-do list. Parkinson’s Law is about to become your new best friend in the quest for efficient time management. 

Understanding What Motivates You

Last week I did an entire episode discussing the importance of understanding the Motivational Triad so if you haven’t listened to episode #37, I suggest you do after you finish listening to this one.  

Basically, the Motivational Triad is your brain’s natural instinct to always be seeking pleasure, avoiding pain, and conserving energy.  It explains a lot of why we do what we do and why we don’t do things we should do.

The reason this matters for accountants is because our work typically pushes against the Motivational Triad – it’s often not pleasurable, can be painful, and expends a lot of mental energy.  Unfortunately, a lot of the work we do as accountants does not align with the pleasure-seeking, efficient part of our brain. 

In fact, our work often demands mental effort and doesn’t offer the instant gratification our brain craves.

So, when faced with challenging accounting tasks, our brain’s default response is to procrastinate. It’s not because we’re lazy or lack dedication; it’s simply the Motivational Triad doing its thing. 

The trick is understanding this process so that we can navigate it more effectively.

One of the keys to conquering procrastination is acknowledging the Motivational Triad’s influence.  Instead of succumbing to stress, consider it a signal from your brain, telling you it’s time to manage your mental energy.

Think of it like this: when you know a storm is coming, you prepare by securing windows and stocking up on essentials. Similarly, when you feel the storm of stress approaching, it’s a cue to manage your brain. 

This might involve breaking tasks into smaller, more manageable steps or giving yourself brief breaks to recharge.

The secret lies in realizing that procrastination isn’t a personal flaw but a natural response. By understanding the Motivational Triad and applying strategies to overcome procrastination, you’re not just tackling accounting tasks – you’re mastering the art of navigating your own brain for peak performance. 

Brain Management for Time Management

Have you ever wondered why some days you’re on fire, and others you feel like you’re running on empty? That’s the magic (and sometimes mystery) of your brain. 

Understanding and managing your brain is the secret that no one else is teaching accountants about better time management.

Your brain is like the engine of a car, steering your actions and decisions. If you don’t know how to manage it, it’s like driving without a roadmap – you might get somewhere, but it won’t be the most efficient journey.

In order to be as focused and efficient as possible you need to think of your brain like a muscle; the more you train it, the stronger it becomes. When you understand how it operates, you can fine-tune it for peak performance.

Brain management is like having a personal coach for your brain. It allows you to sidestep distractions, stay on track, and achieve your tasks with precision. This is what I mean when I say I teach smart accountants how to be smarter.  

Since your thoughts create your feelings and your feelings fuel your actions, you want to use the right fuel for optimal actions. Your brain, like any engine, performs best when given the right inputs. 

In other words, if you’re letting your negatively biased brain offer thoughts that create stress, overwhelm, or frustration, those feelings are going to drive ineffective action.  

In a nutshell, brain management is the art of understanding, training, and fueling your brain for optimal time management. 

Why Is Parkinson’s Law Important?

Now that I’ve discussed the Motivational Triad and how important brain management is to time management, I want to explain Parkinson’s Law in a deeper way.  

In general, Parkinson’s Law states that the time you give yourself to finish a task is how long it takes.  Maybe you experienced Parkinson’s Law when you were in school – if the teacher told you that you have a month to write a paper, how long did the paper typically take to write?  A month.

On the other hand, if the teacher said you have a week to write the same paper, how long did it take to write?  A week.  Same paper, but based on the timeframe given, that’s how long it took to get the desired result.

Now, here’s where it gets interesting. When you set your own deadlines, something fantastic  happens – you take control. It’s like having a magic wand that helps you finish tasks faster.

Self-imposed deadlines are that wand. They turn Parkinson’s Law to your advantage, keeping you focused and effectively tackling your to-do list or your workload.

Why? Because without deadlines, tasks tend to hide in the shadows, and we end up procrastinating. But with a self-imposed deadline – a goal to aim for – you become much more productive and efficient.  

Remember what I said about the Motivational Triad and how your primitive brain is motivated to conserve energy?  Well, by using Parkinson’s Law to your benefit, you will be amazed at how naturally motivated you become to get more done in less time.

This is why I get more done in the office and work the least amount of hours.  Because I know how to effectively use Parkinson’s Law.

It’s all about understanding that you’re the boss of your time. When you know the game, you can play it better.

Imagine finishing a project in a week instead of dragging it out for a month. That’s the magic of Parkinson’s Law in action. 

Imagine being done with tax season a week early.  That’s what’s possible when you effectively use Parkinson’s Law.  .

This isn’t just about checking off your to-do list; it’s about having control over your time so that you can create more time.  

The Benefits of Parkinson’s Law

There are many benefits of Parkinson’s Law, one of which is making decisions quickly, without analysis paralysis.  If you’ve ever spent way too much time thinking about how to start a task, Parkinson’s Law will be incredibly helpful.

With self-imposed deadlines, you don’t get stuck in the overthinking trap. You make decisions quickly and simply, cutting through the mental fog. 

Another benefit of Parkinson’s Law is the ability to prioritize effectively.  When you have a self-imposed deadline, suddenly, tasks line up, and you can see which ones are high impact and which ones can wait. 

It’s like having a spotlight on your to-do list, helping you focus on what truly matters.

No more getting lost in the sea of tasks because you’re in charge.  This isn’t about being busy for the sake of being busy; it’s about being busy with the right stuff.

The last benefit of Parkinson’s Law is the reduction of decision fatigue.  If you’ve ever felt mentally drained from making too many decisions, Parkinson’s Law is like a shield against decision fatigue, especially for accountants. 

When you set self-imposed deadlines, you’re not just managing time; you’re saving mental energy.  How?  Because there will be fewer decisions about when to do things because you’ve already decided. 

It’s like having a personal assistant for your brain, saying, “You focus on the numbers; I’ll handle the timing.” Less fatigue, more focus – that’s the Parkinson’s Law magic at play.

Applying Parkinson’s Law

Have you ever played a game against time? That’s exactly what Parkinson’s Law loves. It’s not about making time your enemy; it’s about making it your ally. 

How? Start by setting specific deadlines for your tasks and projects.

Think of it like a game timer. When you have a self-imposed deadline, it’s like setting the clock ticking. Suddenly, you’re not just doing a task; you’re super focused and productive because you have a set amount of time to get the task done.

It’s like turning every task into a mini-challenge, and who doesn’t love a good challenge?

Before you apply Parkinson’s Law, you need to break projects down into small bites so that your brain is onboard.    

For example, preparing a complicated personal tax return is incredibly overwhelming to your brain.  Instead of aiming for the finished tax return, break it down into more manageable pieces.

This might involve first reviewing the prior year’s return, then creating a checklist of data, then checking that all the data is in house, next asking the client if there is any additional information, next inputting the tax return data, then doing a general review of the return.  

For each task, you would create a mini-challenge by assigning a self-imposed deadline.  Not only is each piece more manageable since it’s broken down, but you’re giving your brain a boundary of time to keep you focused on the task at hand.  

In order to assist you in these mini-challenges, there are some tools that you’ll want to incorporate.  Tools like timers keep you on track and focused. 

Say you decide that you need to spend an hour on a task; set your timer, and dive in. When you know the clock’s ticking, suddenly, distractions fade away.

It’s not just about timers; it’s about finding the tools that work for you. Whether it’s a calendar reminder, a to-do list app, or a good old-fashioned alarm clock, these tools become your productivity sidekicks. 

Whatever works best for you, be open to trying different things.  For me, it’s setting a timer or alarms on my phone.  

When you get on board with using Parkinson’s Law, you’ll be amazed at how much easier it is to get more done in less time.  Something that might have taken 2 hours before, now “miraculously” takes 1 hour of focused time.

I promise, it’s pretty amazing what you can get done using Parkinson’s Law.

Becoming a Smarter Accountant: Parkinson’s Law In Action

Now I want to share some real-world scenarios where my accountant coaching clients, like yourself, were able to put Parkinson’s Law into action.  

One client was dealing with a packed schedule and seemed to find herself stuck in never-ending meetings. However, after becoming a Smarter Accountant and learning how to effectively use Parkinson’s Law, she started setting specific time limits for each agenda item. 

Now, her meetings, whether with colleagues or clients, are focused, efficient, and end on time, allowing her to reclaim valuable hours for more critical tasks.

Another client was very project-oriented.  He used to feel overwhelmed by the sheer size of his assignments. 

After becoming a Smarter Accountant and embracing Parkinson’s Law, he began breaking down projects into smaller tasks, each with its own self-imposed deadline. Suddenly, what seemed like an insurmountable mountain transformed into a series of achievable steps, leading to timely and successful project completions.

Another client was a meticulous CPA and often found herself overthinking and second-guessing decisions.  Before we worked together she found herself getting caught up in analysis paralysis and often experienced decision fatigue at the end of each day.

After becoming a Smarter Accountant and setting self-imposed deadlines for key decisions, she realized Parkinson’s Law was her shortcut to efficient choices. The result? Swift decision-making without the mental fatigue, allowing her to move projects forward seamlessly.

Another coaching client was drowning in a sea of emails daily.  He started to work with me when he decided it was time for a change. 

Once he became a Smarter Accountant, he applied Parkinson’s Law by allocating specific time slots for checking and responding to emails. The result? He became a master of his inbox, responding promptly to important emails and avoiding the time lost in constant interruptions.

And lastly, one client was a typical multitasking accountant juggling numerous responsibilities.  She never felt like she could catch up with her workload.

After becoming a Smarter Accountant, she used Parkinson’s Law to her advantage. She set self-imposed deadlines for each task, forcing herself to prioritize effectively. This not only reduced decision fatigue but also ensured that she tackled the most crucial tasks first, leaving the less pressing ones for later.

These real-world examples illustrate that Parkinson’s Law isn’t just a concept; it’s a practical tool that empowers accountants to work smarter, make efficient decisions, and achieve their goals.   By incorporating Parkinson’s Law into your own accounting toolkit, you’re not just becoming a smarter accountant; you’re becoming a more productive and effective accountant.  

Well, that’s what I have for you.  Thank you for joining me as I discussed how to successfully use Parkinson’s Law.  I hope you’ve gained valuable insights and practical tips.

Here’s what I want you to know – embarking on a fulfilling accounting career shouldn’t be an uphill battle.

Imagine a professional life where stress and overwhelm take a backseat, where long hours and tight deadlines no longer define your days. If you’re ready to regain control, the 5-minute Smarter Accountant Quiz is your first step towards a more balanced and sustainable accounting career.  

This quiz isn’t about debits or credits – it’s about you.

You’ll be able to uncover the obstacles holding you back and unlock the key to a more rewarding professional life. Fortunately, your career doesn’t have to be overshadowed by burnout and frustration.

Simply go to the www.thesmarteraccountant.com to take The Smarter Accountant Quiz. 

If you are struggling with any aspect of being an accountant, you can simply go to www.thesmarteraccountant.com/calendar and book a free session with me.

So make sure you check back each week as I help you go from being a stressed accountant to a Smarter Accountant.

Also, I would appreciate it if you could get the word out to other accountants about this podcast.  The more accountants find out about it, the more we can begin to change the narrative in the accounting profession.

The truth is that you’re already smart, but this podcast will show you how to be smarter.