Last week we discussed how to handle difficult change during turbulent times using the 20-50-30 Rule. Here’s how those numbers play out: Usually 20% of people willingly embrace change, 50% of people sit on the fence undecided and wait to see what happens and 30% will resist the change. We suggest that you focus your time and energy on the fence-sitters while rewarding the 20% who are change-friendly. Ignore the naysayers; they will only waste your time.

So while we’re on the subject of “rules,” let’s talk about managing your time with my “40-30-20-10 Rule.”

I came up with this rule years ago, when one of my top salespeople asked me this: “Now that you have helped me do what I do better, how should I allocate my time on a daily basis?”

She said she was struggling with the “swarm”—those day-to-day tasks that can often overwhelm even the best of us. How do you take care of existing clients; identify and nurture potential new relationships and opportunities; and attend to all the swarm-related things like emails, voice mails and meetings (not to mention coaching your kid’s soccer team, caring for aging parents, being a devoted spouse, maintaining your home and car and any of the other need-to-do stuff that we all struggle with each day)?

I came up with a simple answer to her complicated question. It’s my 40-30-20-10 Rule for managing time. It goes like this:

You should spend 40% of your day with your existing best clients. These are the clients who make you successful. Without them, you will struggle. Be appreciative! Show them the attention they deserve. Always remember: Our success is dependent upon our clients’ success.

Next, spend 30% of your time with your potential best clients. I’m talking about new relationships, former clients and existing clients who have the potential to be great clients but your business relationship is lacking in some way. Maybe you don’t really understand their business. Maybe your TRA—Trust, Respect and Admiration—is off track. (I firmly believe that success in any relationship doesn’t happen until trust, respect and some form of admiration is established.) This group can be (and very often is) your competitor’s best clients, so you’d better be thinking long-term—like three, five or ten years before a payout. Use all the tools at your disposal to get in front of these people! Social media, which lets you connect with hundreds of people at a time, is perfect for reaching these potential best clients while enhancing your personal brand and establishing yourself as a ‘thought leader” in your industry.

Spend 20% of your time doing administrative tasks such as preparing proposals, doing paperwork, training, and handling mail—snail, voice and electronic. In today’s world, like it or not, you are going to have to spend an obnoxious amount of time on administrative tasks. I call it “obnoxious” because it doesn’t necessarily generate income nor directly make you more productive; it just has to be done (and it might take you 75 to 90 minutes each day to do it). Also, since you don’t spend all your time at the office, factor in home and family issues. Go ahead and include all the stuff that you have to deal with on a daily basis—in and out of the office. Plan on it, and manage it!

And finally, spend 10% of your time dreaming and just doing nothing. Think, dream and ask yourself, “what if?” Spend time with a constructive and instructive CD or DVD, or tune into a worthwhile Webinar. Take a walk. Brainstorm about how you can do what you do better. While I suggest that this is only 10% of your day, don’t discount it—it might just be the most important way you spend your time.

For the next couple of weeks, try my “40-30-20-10 Rule” for managing your time. Spend 40% of your time focusing on your best clients; spend 30% of your day on existing clients and new opportunities with the potential to become best clients. (Also, set your sights on your competitor’s best clients. If they are satisfied with their current relationship, this will be tough; bring something new and different to the table for them. Invest some time here so you’ll be top-of-mind when an opportunity arises.) Next, spend 20% of your time doing administrative work and taking care of family and life stuff. These things need your attention; you might as well manage them. Finally, spend 10% of your time doing nothing except dreaming and engaging in critical thinking. This might be one of the most important parts of your day.