Use the Pareto Principle to Get More Done

This may seem like common sense, but it is a general way of describing the wider Pareto Principle; otherwise known as the 80/20 rule, the concept was developed by Vilfredo Pareto in the late 1800s, and still has many benefits in our modern lives.

Entrepreneurs and business owners share a common problem – how do you maximise your time when there is so much to keep on top of?

We explain the ways that the Pareto Principle can help you manage your daily routine so that you can focus on what matters:  

How does Pareto Principle help with time management?

Because the overriding idea of Pareto Principle is that 80% of your output should come from 20% of your time, you can directly apply this to all aspects of your business. 

Whether it’s the amount of customers-to-sales or products to services, you can apply the Pareto Principle as the idea that the distribution of task-to-output is not even.

So, if you have a big to-do list for the day that involves 10 things you want to achieve by 5pm, then it is highly likely that only a couple of those tasks will have the most impact in helping you achieve your goals.  

Well, not quite. Pareto Principle is not intended to be used as an excuse to work less, it is most effective as a way of escaping the daily pressures of messy e-mail inboxes, cluttered desk notes and a scattered mind.

Optimising your time when you want to get involved in all elements of your business can be pivotal to success. 

How do I start using Pareto Principle?

It can be all-to-easy to get bogged down in the stuff we think matters, rather than the things that will really propel our work forward.

• Delegate tasks to others that may have more time or appropriate skillset to do the job, even if this doesn’t come naturally at first. 

• Remove any distractions that disrupt your workflow – e.g. social media, unplanned discussions, background noise

• Work when you work best, whether that’s at 6:00am in the morning or late evening

• Know when to take a break and not feel guilty about doing so. Innovative thinking can often happen when our minds are at their clearest.