Feedback Form
Home Features Mastermind Videos About Advertise Blog Network Contact
   

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

Featured Ebook


ebook Famous Entrepreneurs - Modern Empire Builders


Featured Ebook

More Evan Carmichael
Have A Suggestion?


Sales Lessons From Starbucks And Dell

Are You Making the Most of the 80/20 Rule?



Are You Making the Most of the 80/20 Rule?
   

80/20 Principle: 20% of everything you do results in 80% of your outcomes. Ouch!

That's a tricky concept, isn't it? Yet, understanding what it means to your business - and your life - is essential to earning what you're worth, and doing so in less time. If only you could understand what that 20% is, and what the heck you're doing with your time.

If you're having difficulty focusing, there's a pretty good chance you don't know what to focus on. I think this is good news. It means that there's nothing wrong; you only need to take a little time to figure out what is truly the best use of your time.

Would you agree that utilizing your unique talents is key to getting what you want from owning and running a business? If so, according to the 80/20 rule you want to spend 80% of your time doing what you do best, love and are great at. Productivity experts recommend that you identify those things that give you the most bang for your buck, and figure out how to spend more of your time on those activities or projects. When you do, several things happen:

- You can work fewer hours in the day;
- Reasonably expect a significant increase in income; and
- Experience greater ongoing personal satisfaction.

When your customers choose your services over your competition's, in addition to the tangible return on investment they expect, they also choose you for your expertise. Behind your expertise is that sparkle you bring to everything you do, which can only be enhanced when you combine your skills with your joy and your purpose. Therefore, focusing on those activities and projects that are good for your business is also good for you! When you get this part down right, you might find yourself saying, "I can't believe I get paid to do this! I'm having so much fun!"

The flip side: Given that there really are only 24 hours in the day, once you determine which projects have the greatest impact on your desired outcomes, you also have to evaluate the bottom 20%. What are you doing that is not ideal and how can you quickly and decisively eliminate those things from your schedule? What are your choices? They're really quite simple: Eliminate, Delegate, Negotiate or Automate.

Two women, both independent photographers who run their businesses from home, reported the following once they became more confident and focused on their priorities.

"I discovered that my busyness comes from my home life, not my work. I found everything has a time and a place; just do things in their time now. I used to say I would have fun after I finished working. The problem was I never finished working. Now I have fun first and work second. I am much happier when I work this way."

"I thought I needed organization. It gave me focus to realize that what makes me happy is most important. It helped me change my views about what was a priority. When I'm at work, I'm my best at work. When I'm at home, I'm my best at home."

Take Action Now:

1. Make a complete list of everything you spend time on now.
2. Identify no more than 5 overarching categories for all of your activities, business and personal.
3. Make note of any beliefs or fears you have about eliminating things that waste your time.
4. Log your actions for a week and figure out how much of your time is engaged in those activities that make the most difference in your current revenue and future revenue.

Inspiration Corner:

The Law of Increasing Returns: The more you focus on doing the few things that represent the most valuable use of your time, the better you become at those activities and the less time it takes you to accomplish each one.
~ Brian Tracy, Focal Point

Are You Making the Most of the 80/20 Rule? - To learn more about this author, visit Joan Friedlander's Website.

Like this article? Share it with your friends
[Get Copyright Permissions] E-Mail | Print | More  


Related Articles Related Articles
Top 7 Rules to Master Success
  Congratulations on the successes that you have achieved. Now you want to build upon those achievements. Possibly, these 7 rules may help you.
HOW TO DEAL WITH A LOW QUOTE AND WIN THE BUSINESS
  Often in business we are faced with the challenge of offering better deals in hopes of outbidding our competitors and winning the deal. Here's how we do this and still come out on top.
The 8020 Rule Fallacy In Sales
  The 80/20 rule in sales organizations dies hard. You’ll need to work diligently and hard to eliminate it and then even harder to keep it from resurfacing.
Rule 20 Rules are Made to be Broken
  This is Rule #20 in a series of articles on "21 ways to Increase the Power and Profit of Your Advertising Without Spending an Extra Cent," by Brad Sugars.
Six Rules For Doing Proposals
  Do you ever do proposals for prospects? If you do, follow these six rules to dramatically increase your odds of getting the deal.

Related Forum Posts Related Forum Posts
Trade Show Mastery & Sales Personalities Trade Show Mastery & Sales Personalities
Re: Trade Show Tips Re: Trade Show Tips
Franchising & Licensing Can Be The Same Thing Franchising & Licensing Can Be The Same Thing
Re: Trade Shows - Are They Worth It? Re: Trade Shows - Are They Worth It?
Re: What is your selling statigies? Re: What is your selling statigies?
Update: Making Your First Million ebook Update: Making Your First Million ebook
649 Convenience Store for sale 649 Convenience Store for sale
Make Money With Teleseminars - Learn the Secrets From a Pro Make Money With Teleseminars - Learn the Secrets From a Pro

Related Forum Posts Related Businesses - Evan Elite Authors

The Evan Elite Authors program is currently in beta phase. For details please contact us.


 
About the Author


Joan Friedlander
(Visit Joan's Website)
Joan Friedlander is the founder of Lifework Business Partners, a coaching and training company guiding creative professionals to design profitable, well-run businesses. A four pronged approach offers just the right structure without squashing creativity: Focus, Automate, Simplify, Delegate. Visit ww w.lifeworkpartners.com for programs, services and products.
Have A Suggestion?

View Author's Blog
Become An Author

View Author's Video
Become An Author

Free Downloads


Joan Friedlander's

Complete
List Of
Productivity
Articles

First Name
Last Name
Email
 
If you enjoyed this article, get Joan Friedlander's Complete List of Productivity Articles For FREE!

More Joan Friedlander
Productivity Lessons from an Accidental Entrepreneur
What Does it Really Mean Work on Your Business
Have You Had it With Distractions
Are You Making the Most of the 8020 Rule
Boredom The Gateway to Creativity
Priorities Are Out
Email Interruptions May Lower IQ
Increased Productivity Starts with 1 Day Off a Week
Are You Prepared for Success
Become An Author