Tip: The 80/20 Rules

Have you ever heard of the 80/20 Rule? It is also known as the Pareto Principle or the Rule of the Vital Few and it states that there is an imbalance between causes and results, between effort and reward.

The world is not equal where effort and reward are related. The Pareto Principle basically says:

  • The majority of what you do each day (80%) has little impact.
  • A minority (20%) has a major impact.

Here are some 80/20 rules and what you might want to do once you are aware of them:

80% of your profit is brought in by 20% of your clients. Realize all clients are NOT equal. It is sometimes necessary to "fire" clients when they consume too much of your time for the percentage of your earnings that they represent.

80% of your work can be done in 20% of your work day when you are focused and uninterrupted. Block off 20% (96 minutes) of an 8-hour workday to concentrate on your priority projects. What tasks will have the most impact for you or will contribute to reaching your goals?

80% of interruptions can be eliminated. The other 20% can be shortened or controlled. Practice grouping similar activities, such as phone calls, email, and filing, so that you do not bounce from one kind of action to another type where you interrupt yourself. Create "Discuss With" folders for others in your main group to limit the number of times you interrupt others and they interrupt you. Watch for the "gotta minute" requests; suggest planning some real time to discuss.

80% of what you keep is not looked at again - you only return to 20%. Be selective in what you choose to keep. Ask yourself: Is it current? Does it pertain to my sphere of work? Does it have any legal or financial implications? Will I ever use this again?

80% of the time you wear the same 20% of your clothes. Declutter not just your closet but all of the spaces around you. Clutter is distracting because it diffuses your focus, time consuming if you have to hunt for an item, and stressful when you are coping with too much.

If you often feel overwhelmed by conflicting demands or the number of tasks facing you, look for the 20% that will make the difference. This puts you in control of your life, both for business and personal endeavors.

Thank you to my friend Denise Landers of Key Organization in Houston, TX for allowing me share these ideas with you. For more of her great time management ideas, go to www.keyorganization.com.

 

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Abby Marks Beale is founder of The Corporate Educator, a professional speaking and training company specializing in helping with busy people work smarter, faster and just plain better. Go to www.TheCorporateEducator.com.