How the 80/20 rule or Pareto Principle improves productivity and reduces stress
Famous Italian economist, Vilfredo Pareto observed that 80% of Italy’s land was owned by 20% of its population, as per Wikipedia. He made many similar observations related to productivity, sales, business, economy and other daily applications. And what he concluded was that, the 80-20 rule applied to all these diverse situations and economic areas.
Think about it,
- You spend 80% of your time, doing 20% of your tasks
- 80% of your revenue is made by 20% of your clients
- 80% of your company’s growth is related to 20% of your employees
- 80% of your productivity is because of 20% of your work
Rule of vital few:
It is called the rule of vital few. That means vital 20% account for the trivial 80%. As Tim Ferris suggests in his book “4-hour work week”, it is these vital 20% of tasks that we should be focusing on. He even goes on to suggest that those 20% of clients that make majority of 80% of complaints and trouble, that we should fire them.
How it can help you:
What we learn from this principle is to focus on those vital tasks that really matter. By doing do we reduce stress and maximize productivity. All those mundane tasks can be easily delegated to your virtual assistant and taken care of should be outsourced to your assistant. It will take very less time, if any to send these over, if needed small amount of training and management in the beginning but overall in the end it is a win-win situation. You save more time to work on productive and meaningful tasks and have someone else do the tedious, repetitive and boring work for you. When you have more time to yourself, you will find yourself worrying less and being more creative.
The end result of delegation is to focus on what’s important and that as per the rule is only 20%. So if you start thinking the Pareto way, you will have 80% of your time to yourself enjoying your life, doing what you love to do.
Pareto way of life is very addictive! And Tasks Everyday is your ideal partner to help you work smart on the Right Things that matter.