The 80-20 “rule”, sometimes known as the Pareto principle, offers a perspective on setting priorities. It says “roughly 80% of the effects come from 20% of the causes”.
Here are some examples of this “rule” (but let me emphasize “roughly”):
- 80% of a company’s sales come from 20% of its products
- 80% of your Facebook engagement (likes, shares) comes from 20% of your posts
- 20% of the people you know cause most of your life’s satisfaction
- 80% of your personal results come from 20% of your efforts
It is a powerful time and resource management concept and that’s what I want to explore. How do you set priorities for your life? How do you fill your 168 hours per week? How do you spend your money? Start by considering your Purpose, Vision and Goals. Let this guide you toward the 20% of the tasks and people to focus on. Make the hard choices. Be deliberate. Consider the long view.
Look at your to-do list or meetings or budget and ask if there are ways to eliminate some items based on this thinking? Reflect on the key things that will truly make a difference. Be honest with yourself. Make the choice to say “no” to the things that aren’t essential/purposeful/strategic. Make the choice to say “yes” even if they feel difficult/stressful/new. Mark them as important on your to-do list. Review the Vision for your life and career and guide your way toward it with intentionality. Take action.