I can’t give you more than the 604,800 seconds that everyone has in their week, but I can show you a simple way to be more productive with those allotted seconds.
Our modern world recognizes being busy as being important. It seems the more running around you do, the more urgent tasks you have, the more respected you are. Think about it – have you ever talked about how busy you are when someone asked you how you were? Probably. We all do it.
But being busy doesn’t mean we are being effective at making the changes we want in our lives. In fact, it may mean the opposite – that we are wasting time on tasks that really aren’t that important. That leaves us drained of energy and wondering what it’s all for.
The Pareto Principle, maybe better known as the 80/20 principle, is a way to use your time effectively so you get more done and are working on the right activities. In a nutshell, the principle says that approximately 20% of your effort yields 80% of your results. Likewise, the reverse is also true. There are tasks that take 80% effort, yet only yield 20% of your results. The goal, obviously, is to determine which tasks are which.
The easiest and fastest way to achieve your outcomes and reach your potential is to streamline your action items. Some tasks that don’t make the cut (don’t yield 80%) can be ignored as unimportant, while others may still need doing, but not necessarily by you. Those 20% yield tasks that still need to be completed can be outsourced so you are free to complete the creative tasks you are best at.
Here’s how to see if an item is a 20% or an 80% job:
- Keep a list of outcomes handy so you can review it throughout each day.
- Write down each task that you need to complete for the day.
- Now, go through each item and compare it to your outcomes. Does it align? From past experience, how much effort did the item take? And what was the benefit? Is it worth it?
- If it is, but you don’t need to do it, hand it off to someone else.
- If it’s not, mark a line through it and move on to the next item on the list.
- Use a simple tracking system to measure the results vs. the effort on each task or technique you use. This will help you determine if something is a 20% or 80% undertaking later.
The point of this exercise is to keep firmly in your mind that not all activities yield the same benefits. And that it’s not necessary to implement every idea that you come across. Choose only those that align with your goals and will offer the most reward.
Of course, you can take a shortcut to increasing your revenue and profits by engaging in what I’ve determined to be 5 areas that comprise the 20% of efforts in your business that lead to 80% of your profit. Visit my website and scroll down to the section, “Free Training for Business Owners.” Watch the 25 minute training video for an overview of an approach that will give you insight as to how you can increase your revenue and profits in as little as 90 days. As an added bonus, I’ll also send you a short email training series to provide even more insight into the process.