We always have time enough, if we will but use it aright.
JOHANN WOLFGANG VON GOETHE
The 80/20 Rule is one of the most helpful of all concepts of time and life management. It is also called the "Pareto Principle" after the Italian economist Vilfredo Pareto, who first wrote about it in 1895. Pareto noticed that people in his society seemed to divide naturally into what he called the "vital few," the top 20 percent in terms of money and influence, and the "trivial many," the bottom 80 percent.
He later discovered that virtually all economic activity was subject to this principle as well. For example, this principle says that 20 percent of your activities will account for 80 percent of your results, 20 percent of your customers will account for 80 percent of your sales, 20 percent of your products or services will account for 80 percent of your profits, 20 percent of your tasks will account for 80 percent of the value of what you do, and so on. This means that if you have a list of ten items to do, two of those items will turn out to be worth much more than the other eight items put together.
Number of Tasks versus Importance of Tasks
Here is an interesting discovery. Each of the ten tasks may take the same amount of time to accomplish. But one or two of those tasks will contribute five or ten times the value of any of the others.
Often, a single task can be worth more than all the other nine items put together. This task is invariably the frog that you should eat first.
Can you guess on which items the average person is most likely to procrastinate? The sad fact is that most people procrastinate on the top 10 or 20 percent of items that are the most valuable and important, the "vital few." They busy themselves instead with the least important 80 percent, the "trivial many" that contribute very little to results.
Focus on Activities, Not Accomplishments
You often see people who appear to be busy all day long but seem to accomplish very little. This is almost always because they are busy working on tasks that are of low value while they are procrastinating on the one or two activities that, if they completed them quickly and well, could make a real difference to their companies and to their careers.
The most valuable tasks you can do each day are often the hardest and most complex. But the payoff and rewards for completing these tasks efficiently can be tremendous. For this reason, you must adamantly refuse to work on tasks in the bottom 80 percent while you still have tasks in the top 20 percent left to be done.
Before you begin work, always ask yourself, "Is this task in the top 20 percent of my activities or in the bottom 80 percent?"
Rule: Resist the temptation to clear up small things first.
Remember, whatever you choose to do over and over eventually becomes a habit that is hard to break. If you choose to start your day working on low-value tasks, you will soon develop the habit of always starting and working on low-value tasks. This is not the kind of habit you want to develop or keep. Low-value tasks are like rabbits; they multiply continually. You never get caught up.
The hardest part of any important task is getting started on it in the first place. Once you actually begin work on a valuable task, you will be naturally motivated to continue. A part of your mind loves to be busy working on significant tasks that can really make a difference. Your job is to feed this part of your mind continually.
Motivate Yourself
Just thinking about starting and finishing an important task motivates you and helps you overcome procrastination. The fact is, the time required to complete an important job is often the same as the time required to do an unimportant job. The difference is that you get a tremendous feeling of pride and satisfaction from completing something valuable and significant. However, when you complete a low-value task using the same amount of time and energy, you get little or no satisfaction.
Time management is really life management, personal management. It is really taking control of the sequence of events. Time management is taking control over what you do next. And you are always free to choose the task that you will do next. Your ability to choose between the important and the unimportant is the key determinant of your success in life and work.
Effective, productive people discipline themselves to start on the most important task that is before them. They force themselves to eat that frog, whatever it is. As a result, they accomplish vastly more than the average person and are much happier as a result. This should be your way of working as well.
EAT THAT FROG!
1. Make a list of all the key goals, activities, projects, and responsibilities in your life today. Which of them are, or could be, in the top 10 or 20 percent of tasks that represent, or could represent, 80 or 90 percent of your results?
2. Resolve today that you are going to spend more and more of your time working in those few areas that can really make a difference in your life and career and spend less and less time on lower-value activities.