We always love a good business hack in our careers! And this one is a must. Whether in our business or personal lives, our energy and successes are always split according to Pareto’s law.
Pareto’s Law: 80% of results come from 20% of total input!
So, for example, you may only wear 20% of your wardrobe 80% of the time. Or only phone 20% of your contact list 80% of the time you make a call.
Of course, the 80/20 rule isn’t concrete. You may find that 90% of your happiness comes from 10% of your fridge! But the general rule is that a large chunk of results will come from a small, select amount of the total available effort or resources.
Quit Wasting Time.
Pareto’s law can be interpreted as the weight of your energies in line with the weight of the results they generate. Quit putting your focus into the 80% that you aren’t passionate about, if they churn out very little results! Instead, nurture your high-yielding 20%.
In a business framework, if you’re an e-commerce business, 80% of your total sales are probably coming from the same 20% of return customers. Likewise, 80% of revenue is most likely being generated by 20% of the team. To kill it in business, you will need to identify your 20% groups and focus your energy there!
Start Working Smart.
If you are a blogger, consider the components of your article. The headline or the header image contribute to say 20% of the content but it’s fair to say that these elements determine the majority of the success of the post! Considering this, it would make sense to work smart and put energy into perfecting these elements.
Simply work hardest on elements that work hardest for you – you’ll avoid wasting time and generate killer results! The key is to focus on your passions and skills and outsource your less fulfilling tasks.
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