Time Management And The Pareto Rule
Life can become hectic with schedules changing and tasks to carry out. I know a lot of you can relate out there, especially when it comes to juggling our day to day activities, whether at work or errands for your family and home. This is where time management comes in and having the insight to manage what you do, as well as when to do it, will certainly make life easier.
A lot of times people tend to think that if they do the small tasks first, they are starting off on the right foot. But there are time management experts who say that you should do the opposite. Imagine waking up in the morning and doing the lightest or smallest possible task; what if you have 10 of these ‘little’ tasks to do? You would end up spending the entire day catering to things that aren’t so important. So instead of dealing with time this way, do the opposite by taking care of the heaviest possible task at hand. This is also known as “Swallowing the biggest frog first”.
It may be dreadful, having to face such a big challenge and responsibility at the start of your day, but it will surely pay off. Like they say-going through the hardest, will make everything else seem easy. With this said, I would like to share with you something that I think is very powerful, which is called the Pareto Rule. It has the 80/20 principle, wherein only 20 percent of what you do on a day-to-day basis, actually matters. It is something that should be aware of because it s a general rule of nature that we have cannot find a reason for. It was simply observed in so many systems worldwide, from establishing that 20% of the pods have 80% of the bins to the observation that 20% of the bugs produce 80% from all the software crushes.
Understanding the Pareto Principle and its influence over your life, work or business can have a major influence on increasing your productivity:
- 20% from each project takes 80% from the time assigned for the work.
- 80% from your business income will come from 20% of your consumers.
- Only 20% of the day actually generates 80% of your work.
- 80% from your happiness will come from 20% of the things you do.
- 20% from the production cause 80% of the problems.
- It is also recursive: from your top 20% producing activities, you are still wasting 80% of your time on only 20% of the work.
And so on and on and on. Richard Koch wrote a whole series of books about this principle, and it is highly recommended if you want to widen your knowledge about this subject.
How To Use The Rule
Focus on that 20 percent using the remaining 80 percent of your time and effort. Of course this can only work if you prioritize and figure out what’s really important. Use your time wisely and management your tasks, whatever they may be, effectively. Once you start handling your daily tasks this way, you will see that you are no longer working fast, but working ‘smart.’ Manage time and you will the fruits of your labor in no time.