Time
matters.
How
many times do you start down your to-do list only to find the next day that you
still have all the same priority A & B items unfinished?
It
happens to anyone who maintains a to-do list at some point. Something else
happens to take your time from you. I find sometimes I get lost in the
web, surfing. Or I talk to several people about other projects and start
something new that wasn't even on the list. Perhaps I simply avoid the
tasks.
First,
we must ask why. Isn't this basic discipline?
In
the 19th century, Vilfredo Pareto, an Italian economist, conducted a study on
income and wealth patterns. He discovered a "predictable
imbalance" that shows up in every area of life. This is now known as
the Pareto Time Principle, or the 80/20 rule. The 80/20 rule means that
80% of time spent poorly produces 20% of desired results, while 20% of time
spent wisely nets 80% of the desired results.
Examples
of the Pareto principle include:
80%
of the sales a salesperson makes come from 20% of their cold calls
20% of the automobiles on the road cause 80% of the accidents
20% of your sales employees create 80% of the business
20% of your customers are worth 80% of your revenue
80% of useful information on the Internet comes from 20% of the sites
80% of what makes you happy comes from 20% o the people with whom you are most
close
You can also utilize the
Pareto Time Principle in determining which tasks are urgent. The
ABC's of goal-setting may also be combined in the process of determining what
you really want to do:
A priority: It has
to be done today, if at all possible.
B priority: It can
be done tomorrow.
C priority: It can
be done during leisure or "spare" time.
How I make up the A list
is a series of questions, including:
1. Will it help me
reach some important goal in my life?
2. Does it matter
if I don't do it? (if the answer to this question is no, then remove it!)
3. Does it have a
deadline? (example, April 15th - taxes are due)
4. Does it involve
doing what my business is all about?
5. Will doing it
advance my career? Will not doing it hinder my career?
6. Will it make me
more knowledgeable or help me fulfill my potential?
7. Is it important
to someone I really care about?
8. Will it matter
a year from now?
9. Will it require
coordinated efforts with others?
10. Is it an order
from someone I cannot ignore?
If you spend 15% of your
time on your most important tasks (A tasks) are actually worth 65% of your
results. B tasks take 20% of your time and are worth an equal 20% of your
results. C tasks require 65% of your time but contribute only 15% to your
overall results.
My theory is to take
your A list and spend 80% of your time on those items. Take your B list
and spend 15% on them. Take your C list and spend 5% on those items.
Here's how you can do it:
1. Add a D=delete
or W for Wastebasket to your list and throw 95% of your C items into it
immediately.
2. Farm out all
remaining B and C items that can be delegated to another party.
3. Several goals
may often be accomplished at once by completing just one task. Do those
first.
4. Make sure to
put your personal list top on the list. Examples of things people put off
their list or often consider C items which really should be A items include:
a. praying.
b. time with family or significant other (or good friend).
c. hobby, such as painting or music.
d. eating.
e. sleeping (8 hours a day, on average)
f. working out or other form of exercise
g. training and reading (personal development)
5. Things that
make the A list that often should not be on the list at all include:
a. chores (gardening, house cleaning)
b. watching television (do you record certain TV shows religiously?)
c. reading the paper - not only is this time-consuming, it is also a
negative influence
d. daily discussions with people who do not build you up or contribute
positively
e. shopping
f. playing games or other distraction
g. things that won't matter if they don't do them.
Q: How do I
determine which items can or should be farmed out (outsourced)?
A: By determining
how much you are paid and how much satisfaction you receive from the item.
This is not cut and dry. If you really enjoy gardening, then keep
gardening, even if it costs you less to pay a gardener to do your gardening for
you. However, if you view gardening as a chore and you make more than the
gardener per hour, then then hire a gardener to help you keep up with the weeds.
Try using the 80/20
principle and also add a D to your ABC to-do list and take note of the
results. You may even enjoy the free time you will now enjoy doing the
things you really want to do.
Scott
Andrews is CEO and Founder of AspireNow (www.AspireNow.com),
a leading business productivity and personal development firm based in
California. AspireNow helps organizations launch new products and
services, maximize sales, and innovatively change businesses through
cutting-edge and empowering business models and processes. For more
information, contact Scott@AspireNow.com,
or visit http://www.AspireNow.com.
