How to Save 2 Hours Every Day using Pareto's 80-20 Law

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- by Neil Stelling B.Sc, MBA Marketing Manager,DigiLectual
http://www.secretsoftimemanagement.com/parart

© DigiLectual Inc. 2003

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Vilfredo Pareto worked as an economist in 19th Century
Italy. We can still use his theories in today's 21st
Century Internet economy !

His 80-20 law applies to many things, including Time
Management. For example, his law says that 20% of your
customers provide 80% of your revenue. It says 20% of your
time spent on a project gets it 80% towards completion.
80%
of people working in the computer business only do about
20% of the work, and the other 80% is done by the 20% star
workers !

So how does this law apply to time management ? How can
you use it to save 2 hours every day ?

Think about any jobs you must do. Think about any projects
you're working on or about to start. We all want to do the
best possible job. But how about this ? How would you
like to get three jobs done in the same time as one ? How
would you like to finish one job a lot quicker, and spend
the extra time with friends or family ?

Pareto's law can help you do exactly that !

First of all look at the 'big picture' of your project.
What are you trying to achieve and why ? What main
benefits do you want ? Make a simple schedule of work.
Get started and work as quickly as possible. It could be a
report on a new market. It could be a new product
specification. Maybe you've got to write a simple piece of
software ?

When you've done all you can, stop and take a look. It's
good isn't it ? Now leave it there. Yes, I said leave it
there. You've achieved about 80% of your target. Yet
you've only spent about 20% of the time you'd eventually
give to that piece of work ! What would you normally do ?
More research. Try to add in more bits. Endlessly fine-
tune it. Perhaps you'd start again because you decide it's
no good ?

Leave it at 80% and start with something else productive.
Follow the same procedure with the next task, and then the
next task.

If you use Pareto's law your productivity will go through
the roof ! Your results will amaze your colleagues … and
yourself ! Suddenly people will start saying, "How does he
get so much done ? How does she work so efficiently ? I
don't understand how he's getting these great results, when
I saw him in the park playing with his children
yesterday!"

Pareto's law works. Start using it today, and see your
productivity soar !

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Neil Stelling is Marketing Manager of DigiLectual Inc. He has an MBA and B.Sc computing qualifications