Did you know that 20% of the things you do will give you 80% of the gratification? The remaining 80% of her time is being spent on things that do not contribute much. This is not only true for your business, but also for all other areas of your life. So, the ideal is to discover what is that 20% of time that gives us so much and try to increase it, right? But how can we differentiate activities that are valuable from those that waste our time? Discover 10 types of activities that will surely make you waste your time and 10 things that normally add a lot of value.
Wouldn't you like to achieve more in less time?
Efficiency and productivity are qualities that we want to acquire in all areas of our lives. In an increasingly fast-paced world, people have realized that time is their most important asset. Each day that passes is one day less.
That is why it is important to question your daily activities in order to determine which ones really contribute to you. But, of all the thousands of things we do on a daily basis, how can we differentiate those that are valuable from those that make us waste time?
For that you will have to start thinking based on the 80/20 principle.
What is the 80/20 principle?
The Pareto principle, better known as the 80/20 principle, states that 80% of the results or benefits are obtained from 20% of our efforts.
In the same way, 80% of our activities generate only 20% of the satisfactions in life.
It is a widely known principle in business. The Pareto diagram has many applications in a company. Among other functions, it is used to carry out quality controls to determine the most common source of product defects, the most frequent reason for customer complaints, etc.
However, its application in the personal life of each person is less known.
Why should you care about the 80/20 principle?
Because it applies to all areas of your life and will give you a better understanding of what is truly happening in the world around you.
If you manage to think according to this principle, you will be a more effective, productive, competitive, happy and satisfied person. Their businesses would also be more profitable, as they will require less investment of time, money and effort to obtain better results.
If you learn to think and function according to this principle, very soon you will determine which are the valuable activities of your life and which ones are not of great benefit to you. You could get rid of what's superfluous and become a more productive person.
The goal is not necessarily to perform at your best and continue to exhaust yourself, but rather to get rid of the unnecessary and live a more peaceful and, at the same time, more productive and efficient life.
The importance of the Pareto principle
The reason it is so important to understand the principle is because it demonstrates a reality of which we are often unaware.
We assume that all our efforts have more or less the same relevance:
- All customers are just as valuable Every product and all sales revenue is just as good All employees in the same category bring the same value All students in a course are guilty of widespread disorder All our daily activities are necessary and bring us the same
We have the tendency to think that 50% of our contribution generates 50% of the results. We think there is a logical balance between cause and effect.
However, these assumptions are wrong and can cause a lot of damage in our lives, especially since they are so strongly embedded in our minds. The 80/20 principle demonstrates that there is normally a marked imbalance when studying quantitative cause and effect data.
How to implement the Pareto principle in our lives?
The secret of success lies in determining which is the 20% of our activities that generates 80% of the profits.
But, how is it possible to differentiate which are the activities that bring us the greatest benefits and which are those that overwhelm, stress and tire us without leaving any fruit?
It is not always easy to elucidate the things that really increase our efficiency and differentiate them from those activities that only take time away from us without making a significant contribution to our lives.
Below I name different ways to determine 20% and how we can get rid of the unnecessary and exploit the most effective:
As I mentioned earlier, the 80/20 principle can be applied in two ways:
- Traditionally it has been used as a method of quantitative analysis that studies the relationship between the data of a cause versus its effect: the Pareto diagram. A less known method is to think according to the 80/20 principle. It helps us to constantly make an in-depth analysis of our decisions, activities and relationships.
For that we have to learn to differentiate those things that are valuable from those that are unnecessary.
Richard Koch, in his book "The 80/20 Principle" (R. Koch, "The 80/20 Principle". Doubleday, USA, 1998. p. 161-162), describes fairly accurate ways of determining superfluous activities in our lives:
10 examples of activities that will surely waste your time:
- Things that others want you to do Things that have always been done in a certain way Things that you don't have many skills Things that you don't enjoy Things that are always interrupted Things that interest few people Things that have been delayed twice as long as you expected Things in which of your collaborators are mediocre or unreliable things that have a predictable cycle answering the phone and writing emails
10 things that usually give you a lot of value:
- Things that promote the purpose for your life. Things that you have always wanted to do. Things that are already in the 20% that brings you 80%. Innovations that will allow you to be more efficient. Things that others tell you that you cannot do.Things that others have successfully done in a different area.Things that use their own creativityThings that others can do for you with little investment of time on your part.Things in which your collaborators are of high quality and work with excellenceThings you have what to do now or never.
Analyze all your activities and determine which ones are wasting your time. Also discover those who will transform you into a more efficient, productive and competitive person.
