The 80-20 Rule
You might never have heard of the "Pareto Principle," but it is the name for what many call the "80/20 rule."
Vilfredo Pareto, an Italian economist, once famously observed that 80 percent of the land was owned by 20 percent of the population.
In your business, the rule implies that approximately 20 percent of your clients/contracts/crops produce 80 percent of your income. In your life, 80 percent of the love and support you receive come from just 20% of the contacts on your cell phone.
If you can focus on the 20% that brings you 80% of your income, satisfaction and success, you can change the ratio. Think about how little of your 40 hours of work accounts for the majority of your results.
Here are some signs that will help you to recognize whether you're spending your time as you should:
The 80% of your life will be marked with these marks:
You're busy on tasks other people want you to do, but you see no future in them. You're always doing something that just popped up and is “urgent.”
You're spending time on tasks you are not usually good at doing that others could do. Activities are taking a lot longer than you expected. You find yourself complaining all the time. Your spouse or friends do not see why you are doing this task.
The 20 percent will involve these points:
You see this as a step or part of your dream--your overall purpose in life. You're doing things you have always wanted to do
You feel good about yourself upon doing this task. You're hiring people to do the tasks you are not good at or don't like doing. You're smiling. You're spouse sees the wisdom of your task and is supportive
As the old saying goes: "The main thing is to keep the main thing the main thing."
David B. Peel
Attorney at Law
Mr. Peel is a local attorney who practices in the areas of Accident, Injuries, Malpractice and Nursing Home Neglect. Mr. Peel often addresses churches and clubs and can be contacted through www.PeelLawFirm.com, wherein other articles can also be found.