Do you know that you get 80% of your results from just 20% of your time and effort and consequently 80% of your time is virtually wasted on non productive activities?. Once you realize this it is easy to take advantage and either reduce the hours you work or significantly improve your productivity.
The 80-20 rule was first discovered by Italian economist Vilfredo Pareto a hundred years ago. Using this knowledge is incredibly powerful in combating the "not enough hours in the day" mentality of today's society.
The 80-20 rule means that in any area of our lives, literally 80 percent of our fruits are derived from only 20 percent of doing "what matters". In other words, there is only a very small portion of all that we do each day, regardless of the situation, that brings us the "higher return".
How can you benefit from being aware of this principle? Implementing a strategy based on the 80-20 rule can result in greater wealth and greater leisure time? Just imagine how productive you will be if 80% of your time could be spent on productive activities. You have to realise that the things that matters most should never be at the mercy of activities that matter least.
Here are 5 Steps to maximise your productivity:
1) Keep a work log for at least a week
Write down all of your activities and the time spent doing them. I appreciate this is time consuming initially but it is essential you get a true picture of your working week.
2) Analyse your activities
Separate your activities into high priority - those that produce a return or where only you have the skills to do the work - and low priority - activities others can do where the activity can be delegated to support staff. You will almost certainly find that you are spending most of your time on low-priority activities rather than activities directly providing a return. In almost all businesses these non productive activities tend to absorb time at a far greater rate than they should.
3) Delegate non productive activities
Once you can identify the low priority activities delegate as many as possible to support staff providing training where required. If necessary employ an additional member of staff to take responsibilities - the cost will be more than offset by your improved productivity. There may be a number of low priority activities you are tempted to keep. Unless it is absolutely unavoidable don't be tempted and don't get involved in non productive activities or your productivity will fall.
4) Calculate the time required for any remaining low priority activities
Once you have delegated all that you can, your next step is to calculate how much time you should be spending on the remaining low priority activities to make maximum use of your productive time. Do not work disproportionately hard at these low priority activities and set aside specific time each day or week to complete them.
5) Prioritise your remaining activities
Once you have cleared out the activities that do not bring you any return, it is time to turn your attention to the activities in your life that are bringing the most reward. Prioritise your activities and concentrate most of your time just on a few high-priority activities.
The objective throughout is to maximize your results from the areas of high return and to delegate those activities that have a low return. Having to spend a disproportionate amount of time on non productive activities is a major source of stress for many businessmen. Delegating these activities will therefore have the added benefit of reducing the stress you are under. It is all about doing less work for greater return.
For more success in life, whether that is more money, more time with your family or just making time for golf you should start implementing the 80-20 rule immediately. It will help your career as well as your personal life and, as a bonus, following the 80-20 rule day in and day out can make you very wealthy over the long term.
About the Author
John Edmond worked for many years in insurance and finance and now writes on a number of topics including small business and finance. For more advice on welcoming new staff go to 15 Steps On How To Welcome Your New Employee or Small Business Management for more selected articles on small business management.
E-currency Exchange Program
The internet is being flooded with E-currency exchange programs, each with their own flaws and virtues. The popularity of the e-currency exchange business is spreading like wildfire, but before you jump in there are a few things you should know. Before you spend your hard earned money on anything promising amazing returns you need to do your research.
First of If you are not familiar with the e-currency exchange business then I will fill you in on the details. This business is not hard to understand but it takes time to get a hang of all the terminology and guidelines. In this business you will create a portfolio which you will use to facilitate the process of exchanging dollars to electronic currencies. For your role in this process you're portfolio will be rewarded with .2-2% gains compounded daily.
This means that from an initial deposit of $500 successful exchanging can bring in returns of around $1,000 in a months time. Profits will vary based on the initial deposit and the amount of time spent working in the system, obviously the higher the startup capital and the more time spent working the higher the profits will be.
Several successful pioneers of this system have put together training courses designed to assist you in quickly and effectively setting up your portfolio. Most people that get attracted to this business get there by way of one of these e-currency exchange programs.
Why do people pay money for these programs? People pay because these programs provide a service necessary to success in this business. For example, if you log in to the DXInOne website (the site that provides the market place for these transactions) you will quickly see that there is nothing there that provides direction or help. It is set up to be an efficient service for those that know how to operate it.
What these paid programs do is provide non-experienced people with step-by-step tutorials on how to bring in, take out, and manage your money and profits in the DXInOne. The full service programs also provide advanced exchanging strategies along with support capabilities via phone or email.
If you have accepted the fact that the easiest way to get started is through a training course then you're probably wondering which offer the most bang for your buck.
The most popular courses are: Currency Exchange Profits by Gary Jezorski, DXTrainers by Matthew Glanfield, Barnes e-Currency Exchange program by Warren Barnes, e-Currency Profit by Liza Guchui, Mazu Business Pack by Matt Gagnon and DXPowerTeam by Dave Bennet. These are not the end all of e-currency training programs but are generally accepted as being the leading courses in this industry.
Before purchasing any of those courses I highly recommend doing some research on what each one provides. There are plenty of courses that claim to offer the world and in reality leave you with nothing but a 300 page incoherent e-book and a credit card payment.
Be smart in your decision; choose a course that accommodates your learning abilities and preferences and you won't regret getting involved in the e-currency exchanging business.
Ken Masterson, senior editor at The Program Guide, is an established writer and e-Currency Trader. Learn how to gain financial freedom through the e-Currency Exchange Business at http://www.theprogramguide.com
How to Earn Respect at the Office
1. Consistently complete projects on time
Getting your work done on time, or even ahead of schedule, demonstrates the value and worth you place on the project as well as the people you work with.
2. Refrain from complaining or criticizing
Offer solutions when making legitimate complaints and make sure to communicate them to the appropriate person.
3. Follow through on your commitments
A lack of follow through communicates irresponsibility and carelessness and can seriously undermine trust and confidence.
4. Speak up in meetings, but don't dominate the discussion
Well thought out comments, ideas and opinions shared in meetings let people know that you are engaged in the process and confident about your contribution to the team.
5. Know your stuff
Be prepared and always do your homework ahead of time. Anticipate questions and be ready with answers.
6. Be willing to engage in difficult conversations
You're not alone - most people fear and avoid confrontation. When an interpersonal or performance problem exists, don't ignore it. Although challenging, these conversations often result in stronger relationships, higher quality work and greater respect and admiration from others.
7. Communicate with confidence
Although important, remember that the words you use only make up a relatively small percentage of the messages you send to others. Make sure that your body language, facial expressions, tone of voice and vocal reflections are all sending a consistent and congruent message of confidence.
8. Stay off the grapevine
People are often quick to listen to a gossip, but slow to trust or respect them.
9. Take time to genuinely connect with people
To really connect with another person you need to consistently demonstrate sincere interest in them as well as a willingness to be transparent. It's easier to respect a person who doesn't always seem to be on guard; someone not afraid to show that they're human.
10. Treat people the way you want to be treated
Don't ever expect something from someone that you are not willing to give yourself. People generally reciprocate what they have received - good and bad.
Dr. Todd E. Linaman is a licensed psychologist and the President of Relational Advantage, Inc. Dr. Linaman is also a conference speaker, published author and expert in the area of personal, professional and organizational development. RAI provides quality coaching, consulting and training for family owned businesses, executives, managers and other business professionals. For information concerning RAI services please contact Dr. Linaman at (520) 219-8377 or via e-mail at DrLinaman@RelationalAdvantage.com.
