A Simple Time Management Strategy Even a Blonde Can Do It
Time management in reality is activity management. How you manage your activities makes all the difference.
The 80-20 Rule of Pareto states that 20% of what you do will make 80% of your results. This goes against traditional time management layouts.
The 80-20 Rule or Pareto’s Principle was discovered by Italian economist Vilfredo Pareto. He noticed a natural imbalance that greatly affects everything in this world… your life… your business… everyday.
He noted that 20% of the world’s population enjoyed 80% of the wealth but soon discovered this law of nature appears everywhere.
Just think…. only 20% of what you do produces your desired results… the other 80%… may not count for much… waste of your time and efforts.
A Simple Time Management Strategy
Identifying and focusing on activities that are important to you and identifying and removing unnecessary activities - this is the definition of time management.
Traditional Time Management focuses on cramming and adding stuff into your day. It feeds the employee mentality need to always appear busy working hard at one’s ‘real’ job. Not a good idea for the solopreneur.
When a business experiences success, the owner starts drowning in the Multiplicity of Stuff Syndrome. The solopreneur really feels the effects of this syndrome. Not only are they the CEO (chief executive officer) of their business… they are also Chief Everything Officer.
They end up spending the bulk of their day on the 80% that does not produce results or profits.
Divide All Your Activities Into Four Activity Zones
- high-profit activities - high-reward activities - low/no profit activities - low/no reward activities
With high-profit/high-reward activities, devote 20% of your time- Work ON your business.
Devote 80% of your time to the low-no profit/low-no reward activities - Working IN your business
Following this strategy enables you to continue growing your business profits while dealing with day to day stuff of running your business.
Tags: Business, entrepreneur, increase productivity, Marketing, procrastination, productivity, self help, self improvement, Small Business, solo entrepreneur, Time Management