Ryan Serhant Breaks Down His '1,000 Minute' Rule For Optimizing His Time

Summary

In this Forbes interview, real estate entrepreneur Ryan Serhant shares his 10,000-minute strategy for time management. He emphasizes the importance of treating each day's 1,000 productive minutes as a gift, focusing on finding, keeping, and doing business. Serhant advises doing a time audit to identify inefficiencies and advocates for honesty in setting boundaries to protect one's time. He reflects on his career, suggesting that seeking guidance and joining teams earlier could have eased his path.

Takeaways

• 🕒 Ryan Sirin, founder of Surin real estate firm, emphasizes the importance of managing time effectively, especially for those without a fixed salary.
• 💡 The '10,000 minute method' is a time management strategy where one allocates roughly 1,000 minutes per day to productive work, treating each day as a new 'bank account' of time.
• ⏰ Ryan advises not to let a bad event, like a bad call or news, consume more than its designated time slot, to avoid wasting the entire day or week.
• 🔍 He suggests breaking down the day into three categories: finding business, keeping business, and doing business, to ensure a structured approach to work.
• 🚫 Ryan discourages being a 'prisoner' to one's calendar, instead using it as a tool for freedom by avoiding unnecessary or unproductive time commitments.
• 📈 He believes in the power of choice, even when working with clients or customers, as it allows for more control over one's time.
• 📝 Ryan recommends doing a 'time audit' to track how time is spent over a week, which can reveal surprising insights and areas for improvement.
• 💌 Honesty is key when managing time; it's better to be upfront about one's availability and preferences rather than committing to something that isn't beneficial.
• 🌟 As careers progress, the focus of time management shifts from doing tasks to finding new opportunities, which is where the highest value is often added.
• 🤝 Ryan regrets not seeking coaching or being part of a team earlier in his career, which could have eased his path and provided valuable learning experiences.

Q & A

What is the 10,000 minute method?

The 10,000 minute method is a time management strategy where Ryan Sirin allocates about a thousand minutes a day to be productive, considering that he has 1440 minutes in a day and after accounting for sleep and other activities, he has roughly a thousand minutes to work.

How did Ryan Sirin apply the 10,000 minute method in his early career?

In his early career, Ryan Sirin applied the 10,000 minute method by dividing his day into three categories: finding business, keeping business, and doing business. He would allocate specific time blocks to each category to ensure he was using his time productively.

What is the significance of viewing the 1,000 minutes as a gift?

Viewing the 1,000 minutes as a gift helps Ryan Sirin to be more mindful and intentional about how he spends his time. It also protects him against 'time vampires' and prevents him from wasting time or letting a bad event negatively impact his entire day.

How does Ryan Sirin suggest implementing the 10,000 minute method for those who may have less control over their time?

Ryan Sirin suggests that even if someone is answering to someone else, they still have the choice to manage their time effectively. He advises making every choice a decision rather than a requirement and finding ways to take agency over one's time.

What is the first step Ryan Sirin recommends for someone looking to improve their time management?

Ryan Sirin recommends doing a time audit, similar to a diet diary, where you track and record every activity you do for a week. This helps in identifying areas where time can be better utilized.

How does honesty play a role in managing time according to Ryan Sirin?

Ryan Sirin believes that honesty is the best policy when it comes to managing time. He suggests being upfront about one's availability and preferences to avoid unnecessary meetings or commitments that could waste time.

How has the way Ryan Sirin fills his 10,000 minutes changed as his career has progressed?

As his career has progressed, Ryan Sirin has shifted from spending most of his time doing business to focusing more on finding business. He has also invested in systems and people to handle tasks that do not require his direct involvement, allowing him to focus on higher-level tasks.

What advice does Ryan Sirin have for someone struggling to establish boundaries with their time?

Ryan Sirin advises being honest and authentic about one's time commitments. If a meeting or call does not need to be long, it's okay to suggest a shorter interaction or to decline unnecessary meetings altogether.

How does the 10,000 minute method help with goal setting?

The 10,000 minute method helps with goal setting by providing a structured approach to time management, allowing individuals to allocate specific time to tasks that align with their goals and ensuring they stay focused on what's important.

What is the one piece of advice Ryan Sirin wishes he had listened to earlier in his career?

Ryan Sirin wishes he had understood earlier that 'no man is an island,' meaning it's important to seek guidance, join teams, and not try to do everything alone. He believes this would have made his early career easier.