Listen to the Episode Here (11:13)
Welcome back to the daily mastermind…
Nothing is Impossible to a Willing Heart- John Heywood
Let’s talk today about your productivity.
I want to share 2 Specific Rules, Laws, Universal Truths about your time you MUST be aware of.
I want to share what they are…why they are affecting you…and how you can leverage them to 10x your time…
#1- THE PARETO PRINCIPLE…the 80/20 Rule
What is the 80 20 rule in simple terms?
The 80-20 rule says that 80% of outcomes (or outputs) come from 20% of all causes (or inputs).
It can affect all areas of your business like Productivity, Decision Making and even Results.
Understand it and Learn to use it to your advantage….
How to you use it in business?
-The 80/20 rule is helpful in determining where you can focus your efforts to maximize your results
Example: Growth Strategies in 7-Step RMP….the 20% that GET RESULTS
FOCUS for RESULTS
How can you use it to increase productivity?
-You can use the 80/20 rule to prioritize the tasks that you need to get done during the day.
-The idea is that out of your entire task list, completing 20% of those tasks will result in 80% of the impact you can create for that day. So in order to get the most impact done, identify which tasks have the most impact for your team and focus on those for the day. TOP 3
Exercise: List out all of the things that you need to get done that day. Then identify which of those tasks have the highest impact.
How can you use 80/20 in Decision making?
Can help you to make the best decisions during the problem-solving process.
When there are many different causes to one problem, the Pareto principle can help you prioritize solutions.
Example of how to use the 80/20 rule for decision making:
More Benefits of using the Pareto 80/20 principle:
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Clear priorities both for you and your team
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Increased daily productivity
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Ability to portion your work into manageable segments
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More focused strategy and execution
WARNING
1-THIS DOES NOT APPLY TO 20% EFFORT TO GET 80% RESULTS
2-DONT LOSE SIGHT OF THE OTHER 80%…EFFECTIVE TIME MANAGEMENT (TIME BOXING)
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#2- PARKINSONS LAW
What is Parkinson’s Law?
Parkinson’s Law is the idea that your work will expand to fill the time allotted for its completion.
What are ways you can overcome or adapt to our internal nature to procrastinate??
1. Plan your work strategically
2. Set self-imposed deadlines
3. Try timeboxing
4. Try the Pomodoro Technique
5. Use task management tools
You can accomplish more in less time with Parkinson’s Law
LAST SOLUTION: Get some task management software or develop systems to really automate your TIME.
I hope these tips have brought you value. I appreciate you being part of the Mastermind Community.
George Wright III
