According to Pareto’s Principle, the 80/20 rule, 20 percent of something is responsible for 80 percent of the results. When we can identify the 20 percent of work that truly makes a difference in our businesses, we can make more mindful decisions about what work matters. Even on days when our to-do lists become a battle between the “vital few” and the “trivial many” tasks, we can still remind ourselves to focus on that 20 percent that makes the most difference.
That’s not to say that the other 80 percent isn’t important. Even our dream jobs will include time consuming responsibilities, that allow us to do the work we love. Seth Godin says that companies can differentiate themselves by excelling at the 80 percent – the little things that other companies may overlook if they’re not “vital”.
As entrepreneurs, [inlinetweet prefix=”” tweeter=”” suffix=”->”]we must spend our time doing the things with the biggest return[/inlinetweet]. However, we also need to find a way to honour the other 80 percent, without getting bogged down or discouraged by those tasks. Focus on what’s important. Work smart on the right things.
To read more about applying the 80/20 Rule to your business, read this article in Forbes and this one in Entrepreneur.