The Pareto Principle (The 80/20 Rule)
The 80/20 rule, also known as the Pareto Principle, states that only a small portion of our efforts and activities (just 20%) lead to a large portion of our results (80%).
In other words, not all tasks, clients, and projects have equal value, so by identifying and focusing on 20% of our most important tasks (the ones that will make the most impact), we can maximize our effort and achieve better outcomes.
For example, say you have a 10-task to-do list. According to the 80/20 rule, two of those tasks will contribute more to your overall productivity than the other eight combined, which means you should prioritize accomplishing those two top tasks. This will help you identify and dedicate more time and energy to tasks most worth your time, those that will lead to the greatest “productive” return.
How to Apply the 80/20 Rule
Applying the 80/20 rule requires analysis and evaluation of your current task list and goals. Start by identifying which activities or projects have the greatest potential for impact or results. These are typically the tasks that align with your long-term objectives or that have a high return on investment.
Looking for an easy-to-use template for this exercise? Download my Eisenhower Matrix worksheet here.
Once you've identified those high-impact tasks, the next step is to allocate more resources towards completing those tasks. Wherever possible, minimize or eliminate distractions. Then, cut out unnecessary activities that don't contribute significantly to your goals or growth. Common examples could be specific meetings, endless emails, and other clunky processes that slow your progress. Identify and address anything that could be simplified or eliminated.
Repeat The Process As Needed
Regularly review your priorities and reassess whether certain tasks are still worth pursuing. As circumstances change or new opportunities arise, tasks that were important at one point in your day-to-day work may not be two to three months later.
Questions For Review
After trying this exercise, what did you find?
Which tasks/projects/clients are part of your 20%?
What tasks aren’t contributing to your bottom line?
Share your discoveries in the comments below.
