Which 20% of sources are causing 80% of my problems and unhappiness?What is the use of running when we are
not on the right road?
German Proverb
In his book, The 4-Hour Work Week, Timothy Ferriss describes how he managed to radically boost his income while working for a fraction of the time. One of the ways he did this was to use the 80/20 Rule (the Pareto Principle) which states that 80% of results typically come from 20% of our effort and time. Ferriss scrutinised his business, asking himself the following questions:
Which 20% of sources are causing 80% of my problems and unhappiness?
Which 20% of sources are resulting in 80% of my desired outcomes and happiness?
From this analysis he figured out that almost all his income was generated from just a small proportion of his clients. Not only that, but there were a handful of clients who consistently caused problems and wasted his time and energy. He dropped the clients who were causing him problems, stopped focusing on the majority of clients who rarely placed orders and spent almost all his time and effort developing the clients who generated the most income. As a result his income doubled in the first month and his weekly hours dropped from 80 to 15. Not a bad outcome!
Take a long hard look at the things on your daily to-do list. Are you focusing on the 20% of activities that will reap rewards and bring you increased income and happiness? Or are you concentrating on time wasters? Are you using your time effectively or are you just ‘being busy’?
Maybe it’s time to focus your attention on the 20% and to apply the ‘Three Ds Rule’ (Do it, Delegate it, Drop it) for the rest. In other words, Do the 20% and consider what part of the 80% you can Delegate or Drop altogether.
The 80/20 Rule can be a life saver for perfectionists, too. When you’re striving for that perfect 100%, check in with yourself and see if, actually, 80% would do. This single shift can save you loads of time and energy.
Minimalism is essentially focusing only on the 3-4 most
important things in your life (or business) and
ELIMINATING THE REST.
John Reese
The ability to simplify means to eliminate the unnecessary
so that the necessary may speak.
Hans Hofmann
The secret of happiness, you see, is not found in seeking
more, but in developing the capacity to enjoy less.
Socrates