Managing Your Time

Vilfredo Pareto principle also known as the 80- 20 rule, states that for many events, roughly 80% of the effects come from 20% of the causes.

How It Can Help You:

The value of the Pareto Principle for a manager is that it reminds you to focus on the 20% that matters. Of the things you do during your day, only 20% really bring in the big bucks! Those 20% produce 80% of your results. 

When the fire drills of the day begin to sap your time, remind yourself of the 20% you need to focus on. If something in the schedule has to slip, if something isn't going to get done, make sure it's not part of that 20%

Exercise of the month:

Make a list of the things that you want to / have to do. (All of the tasks) Now divide that number by 5 and that will be the 20%. Example. If you've got 20 things on your list that means that 4 of them fit in the 20% category and 16 in the 80% category. Now identify which of the 4 things on your list will give you the greatest results and focus on those.

There is a management theory floating around at the moment that proposes to interpret Pareto's Principle in such a way as to produce what is called Superstar Management . The theory's supporters claim that since 20 percent of your people produce 80 percent of your results and you should focus your limited time on managing only that 20 percent, the superstars.

The theory is flawed however because it overlooks the fact that 80% of your time should be spent doing what is really important. Helping the good become better is a better use of your time than helping the great become terrific. Apply the Pareto Principle to all you do, but use it wisely. 

areto's Principle should serve as a daily reminder to focus 80% of your time and energy on the 20% of your work that is really important. Don't just "work smart", work smart on the right things.