Make Better Decisions Considering Time, Talent & Treasure
Being more innovative requires making better decisions. A friend uses a filter called “Time, Talent, Treasure” to help her make important decisions. She learned this from a co-worker years ago and passed it along to me. And, now I pass it to you.
When determining where she should focus effort she asks… Is this worth our Time, Talent, and Treasure? Below are suggested questions to ask about the project, plan, or idea…
- Is it worth the time investment?
- Are there better/more effective things we could be doing with our time?
- Does the effort provide a worthwhile return?
- Is there a way to do this that will allow it to take less time… make it easier (but without compromising the integrity or watering down the idea?)
- Is there a way to make the time work harder for you? (i.e. if you’re already having a regional meeting pulling together your management team – is there something else you can do to all value to their time?)
- Is this something I should be working on?
- Should it be delegated?
- Is it part of my role?
- Is there someone else more skilled with a project like this?
- Is it something our employees (talent) should be focused on?
Treasure can be viewed from two perspectives… Money as treasure… Brand as treasure.
- Is it worth our financial investment?
- Should we spend against this?
- Is there a better use of our cash?
- Is it worth our brand investment?
- Does it strengthen our brand or does it stretch it?
Next time you are planning and prioritizing, try using this filter on some of the most important questions.
If it isn’t worth your time or talent or treasure is there a way to modify it so it is? If you can’t figure out a practical way – perhaps it’s not worth doing.