Go big or go home, think large, and too big to fail are all adages that apply to our world. But suppose larger isn’t always better? What if having a single focus is beneficial? It’s not, in actuality. The 80-20 rule is evidence for this.
The 80-20 rule states that 80% of your results originate from 20% of your actions. In other words, only 20% of your inputs cause 80% of your outputs.
If you don’t know what you want to concentrate on, you can’t use the 80-20 rule to your benefit. How can you filter out the unnecessary distractions and focus on the 20% of your life that will truly make a difference? Consider this equation: Productivity = Purpose + Priority.
1. SET UP YOUR PURPOSE FIRST.
Everything in your life or in your business is built on your mission. Ask yourself, “Does this serve my purpose?” before making any decisions or changes. You cannot set goals or take action if you don’t know why you are here. It’s that crucial. When you correctly implement the 80-20 rule, you first think big, but not for very long.
2. NARROW DOWN YOUR PRIORITIES
It’s time to be more precise now: What prevents you from achieving your goals, whether they are personal or professional? Perhaps it’s time for you to finally start your own business. Perhaps you should start saving money for a down payment on a house. You might need to uncover or develop new efficiencies as a business leader, or you might need to enhance your procedures.
3. CREATE ACTION ITEMS
You’re still not done. Priorities are good, but they won’t carry you all the way to the end. You must establish SMART objectives, which are actions you may do that are Particular, Measurable, Achievable, Realistic, and Anchored within a Time Frame. You must then consider yourself responsible for them. The actual 20% of the 80-20 rule consists of these precise action items; they are the tasks you should devote 20% of your time to in order to achieve the best outcomes.
