Another timely and useful blog from Martin Norbury on how the 80/20 results/activity thing works…
To sum up – we get 80% of our results from 20% of our activity (we call these activities High Pay Activities). The other way of looking at it is that 80% of activities we do only generate 20% of our results (we call these, yep you guessed it Low Pay Activities).
With this in mind we NEED to focus on the 20% that gives us the 80% of our results and do more of them and simplify, eliminate or delegate the 80% of Low Pay Activities.
Martin, ever the pragmatist suggests that first, we write down 5 to 6 things that we do that produces our results and organise and execute our diary around these.
What do you do that produces the greatest results, what do you do that makes you money !?
Some examples may be face to face with prospects, networking, presentations, email campaigns, planning etc.
Once you have recorded them, ask yourself what percentage of your week do you spend doing them – and be honest!
As all the great entrepreneurs and successful businessmen I have read and spoken to advise – address one thing at a time
– and TAKE ACTION.
It’s all very well identifying the the number one High Pay Activity but then you need to take action to actually understand how to get better at it / do more of it. That’s the crucial point here.
You can read and subscribe to Martin’s blog here – recommended!
What other “one thing at a time” type of advice do you have for business owners that want to get better?