We’ve all heard of the Pareto Principle, aka the 80/20 rule, but are you implementing it to get big results in your business?
Most people tend to spend 80% of their time to generate just 20% of results. This is “D-Time”. They look busy but aren’t being very productive.
Productive people flip the equation and spend 20% of their time to achieve 80% of outcomes. This is “C-time”. If most of your team was operating at this level then your productivity would be outstanding.
But you can go further.
Imagine spending 4% of your time to generate 64% of your outcomes? This is “B-time”.
Or 1% of your time for 50% of your results? This level of “A-time” work produces a relative value of 200x most people’s “D-time”.
“A” and” B-time” is where business owners should be operating. For me, “A-time” is learning and understanding the actions necessary to make big gains. “B-time” is allocated to the planning and implementation of these actions.
That’s the difference between being busy, productive and super-efficient.
This article was first published in the Newcastle Herald on May 22, 2018.
