A Simple Time Management Strategy
Time management is actually performance management. Managing your performance activities will make all the difference.
Only 20% of what you do will produce 80% of your results. I’m talking about Pareto’s 80-20 Rule… which goes against traditional time management methods.
When Vilfredo Pareto discovered the 80-20 Rule (also known as Pareto’s Principle), he noticed a natural imbalance with massive impact on every area of life every day.
Vilfredo further noted that 80% of the world’s wealth was enjoyed by 20% of the world’s population and these figured appeared everywhere in nature.
If only 20% of your actions produce your desired results, then the other 80% won’t be worth much. It could be a waste of your time and efforts.
A Time Management Strategy Simplified
Identifying and focusing on activities that are important to you and identifying and removing unnecessary activities – this is the definition of time management.
Traditional Time Management results in adding more tasks and stress into your day. This model has its basis in the employee mentality: look busy by working hard. This is a poor game plan for the solopreneur.
When a business experiences success, the owner starts drowning in the Multiplicity of Stuff Syndrome. The solopreneur really feels the effects of this syndrome. Not only are they the CEO (chief executive officer) of their business… they are also Chief Everything Officer.
This syndrome creates production towards the 80% that does not produce.
Divide Activities Into Four Activity Zones
- high-profit activities – high-reward activities – low/no profit activities – low/no reward activities
With high-profit/high-reward activities, devote 20% of your time- Work ON your business.
80% of your time devote to the low-no profit/low-no reward activities – Working in your business
These strategies will help keep you from drowning in the daily grind of operating your business.
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strategic change management…
Great post. My approach to strategic change management says the quality of the first five percent determines what happens in the rest of the process. This same principle applies to many situations….