Vilfredo Paretos Principle: The 80-20 Rule: 80% of Results are Produced from 20% of Efforts
Vilfredo Pareto's Principle, or The "Pareto Principle," is more commonly known as the 80-20 rule. It suggests that a ratio of approximately 20% to 80% can be found as an effective measure for most things in life. Whether revenues generated per customer or value for hours worked, it usually can be found that 80% of all of our results in business and in life come from only 20% of our efforts!
As importantly, the 80-20 ratio seems to hold true for many input/outputs, causes/consequences, or efforts/results. It also holds true across the spectrum of relationships, business, finances, time- whatever the case may be.
Richard Koch, author of The 80/20 Principle, suggests that the key to earning more and working less is to pick the right thing to do and only those things that add the highest value. Contrary to public belief, "be intelligent and lazy" is NOT an oxymoron- in fact, it's an important theme of this book! Discarding low value activities in all areas of your life, the true essence of the Pareto Principle, will create the time and freedom for you to enjoy a more richly endowed lifestyle.
How can you apply Pareto's Principle?
Look for the evidence of Pareto's Principle in all areas of your life. As best you can, determine where 20% of your energies, resources, time, and talents should be invested for maximum benefit (The 80-20 Rule). Then do it.
In addition to concepts like Pareto's Principle, wizardZofwealth.com offers people of all income levels wealth-building strategies in the areas of small business, entrepreneurship, self development, personal finance, trading, and investing. The site's exclusive Wealth Notes presentation style makes learning easy for people seeking financial independence.
Boost Your Productivity with Sixty Minutes A Day
How you spend the first sixty minutes of your day will affect your productivity and achievements ? everyday.
Ending Procrastination: A New Look at the Old Demon
Do you believe that the best way to deal with procrastination is to "get tough" with yourself and "just do it?" Many people take this approach. What's behind it is the sense that procrastination is essentially a character flaw, a weakness, and that the only way to deal with it is to muscle past it through sheer will. But the truth is, there's a more effective way to approach it that also happens to be much more self- respectful.
Biggest Time Management Mistake
The biggest time management mistake you can ever make isforgetting your closest partner in life. The one who stayswith you all the way from cradle to grave. Theone who drives you through your daily and nightly routines,who runs all your habits. You want it or not, this partnerof yours is the real manager of most of your time. His nameis Your Subconscious Mind.
TIME, The Undervalued Resource
We are all born equal! We all have the same 24 hours in a day as Oprah Winfrey has the difference is how we choose to spend our time. No matter how you dissect this concept, there could only be 1440 minutes or 86,400 seconds at any given 24.
21 Questions To Assess Your Readiness For Time Management
How many of us are guilty of "Putting the cart before the horse?"
Quick Tips On Time Management
Want to improve your time management?
Time Management is Life Management
Many of the clients I work with in success coaching can relate to the following example.
Time Management: How to Stay Motivated and Get More Done
If you can motivate yourself at will to get any task done, you'll have taken a huge step towards managing your time better. There are several practical ways to increase your motivation.
Make Procrastination Wait
Reflect on the rewards of kicking the procrastination habit. They are quite clear: -- Daily feeling of accomplishment. -- Long-term sense of achievement. -- Better performance. -- Satisfaction with a job efficiently done. -- Freedom from the tyranny of imposed tasks-more confidence about mastering future assignments. -- Better professional image. -- Higher self-esteem-belief that you can and will make decisions and take effective action. -- More control of your job and career.
24 Time Management Tips
Where does your time go? We all know we are busy, yet we feel behind and don't get to do the things we really want to do.
Sprint Through Your Workday, Even if Youre a Marathoner
Whenever you have projects that can't be done in one sitting, they have to be broken up into steps. Some people are marathoners and work best when they can spend long, uninterrupted hours on their projects. They hate to stop working because of piddly considerations like eating or sleeping, and they look forward to their next sessions. They're motivated by their goals, and they enjoy the process. That keeps them on track.
Simple Strategies for Home Based Business Owners to Reduce Stress and be More Satisfied
Handle small emergencies fast: When a small emergency does pop up being prepared with a home medicine kit will come in handy. Make sure to have one in your car and one in the home and look through them twice a year to make sure they are up to date and have been restocked. Use this same twice-yearly update to change the batteries in your smoke detectors and to put fresh batteries in all of your flash lights. Have a special box where you store a few extra batteries, a new flashlight, some storm candles and some lamp oil for an oil lamp in case of a severe storm or power outage. Just putting these emergency kits together will give you peace of mind and when you need them you won't have to rush around hunting for supplies you will know right where to find everything you need.
Time Management Tips - How to Have a Filing System That Works
Recently I was working with a new client who had invested hundreds of dollars for a records management organisation to set up a filing system for his business.
Organize Your Time
Most people want to start a home-based business to make more money to supplement their income. The issue though, is finding the time to make this happen.
How to Find More Time in Your Day-Balancing Career and Family
Goal Planning-Achieving balance in a person's life requires assessment of one's goals and priorities. This translates into sitting down in a quiet atmosphere and taking just a few minutes to think about "What are my priorities in life? What could I never live without?" When one is clear about the things that are important to them in life, it is easier to determine which errands, assignments, and projects to take time out to complete or to dump or delegate. You will then be able to do the things you love to do. Thinking about goals is a crucial step in striking balance for our busy lives.
Scheduling Productive Days - Dont Interrupt, Im Pouring Concrete
Almost everyone in business knows the balancing act between the weekly work schedule and business development time is almost as challenging as walking on a tight rope. I suggest breaking your work week into focus days to work in your business and buffer days to work on your business. For many people, there is a strong desire to skip preparation and just tackle everything on the to "do list" at once. As an alternative to this method, I told the following story at the workshop to create a model for scheduling your time to be more productive in your workweek.
The Kaizen of Goal Setting
There is an old way of goal setting and a new way of goal setting!The old way of goal-setting involved setting yor goals, preparing a list of sub-goals, and then carefully checking them off one after another (as and when they were being accomplished). Am I trying o pour cold water on the goal setting method many of us grw up on?Not necessarily
Im Too Busy - Oh Really!
If I had a dollar or even better a pound for every time I'd heard a business leader say this I'd be very rich.
Time Management -- Urgent vs. Important
"It's just been one of those days?I can't seem to get anything done! I've got way too many things on my "To-Do List". Oh the list started out innocently enough as a single handwritten column on one sheet of lined paper; but now it's grown to a three-column table in a spreadsheet software program! I get no satisfaction from checking off each item as I finish it. For each task I complete, at least two more are added. I began my work day at 6:30 AM with grandiose plans of completing a special project before Noon. Now it's 16 hours later (10:30 PM) and I still have not finished the project. My anxiety and frustration are mounting. Tomorrow's list has already been written and it does not include the things left undone from today's list! I don't know if I'm going to make it through the week with all of the demands upon my time and energy. I need help?quickly!
A Time-Saving Programming Tactic that Doesn?t Work
Let's say that you have a software project that's under severe time pressure. Let's say that this deadline is so tight that you already know it will involve many late nights of black coffee and frenetic programming. What can you do to make this process go faster?
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