Vilfredo Pareto, a wisdom filled Italian economist gave us the 80/20 rule (also known conveniently as the Pareto principle) all the way back in 1897 – it’s the theory that 80% of output typically comes from just 20% of what we put in.

To summarise the principle:

  • 80% of outputs come from only 20% of the inputs.
  • 80% of all consequences come from only 20% of causes.
  • 80% of your results come from only 20% of your effort and time.
  • 80% of your company’s profits come from only 20% of the products and customers.

The premise often rings true when converted into a work or study context: usually the lion’s share of what we achieve day to day (the 80%) comes from a relatively small expenditure of time and resources (the 20%).  So in essence – most of us work five days a week, but in four of those days—we’re only creating 20% of what we do in the week; there’s a single day buried in there when we create 80% of our output for that week. What if we could track that day down and make the rest of the week more like that day? The good news is that according to the Pareto Principle you can do just that: identify the  distinction between efficiency and effectiveness to help you prioritise and focus on what really matters to you.

Here are a few simple steps for how to do so now:

1. Step back and evaluate

Often you won’t realise where your time is being spent (or misspent) until you create some distance from your activities. Take a day out to identify where your results are coming from.  Create a specific time schedule to get an overview of how you actually spend your minutes and hours in a given week.  It helps to see things presented visually – a pie chart of your income based on different client accounts, for example.  Then ask the following two questions:

  • Which 20% of your current efforts are resulting in 80% of your desired outcomes and happiness?
  • Which 20% of your current efforts are causing 80% of your problems and unhappiness?

2. Start with the small things

A few small steps can make a big difference to eliminating that wasted 80%. Identifying the interruptions – answering calls, replying to emails etc. – is a good place to start. Begin keeping a tally and then set yourself a daily limit.

3. Learn to pick and choose

Learning how to say ‘no’ is a big part of maximising your time spend. Doing this can be hard, but prioritising the more valuable tasks will eventually increase your output while reducing your input.

4. Adopt a ‘batch’ mentality

Some tasks clearly can’t be eliminated from your day, especially if you’re without a large support team around you. ‘Batching’ is a good way to cut down the time spent on those niggling, yet necessary chores – paying bills or clearing email replies in one sitting, for example, will prevent them eating into the rest of your day.

5. Advocate for Anti-Perfectionism

Whilst there are times that perfectionism is warranted by the potential reward of the task, sometimes non-value work has to get done and its important these don’t become huge time stealers.  Batch up your processing tasks and sit down once a week to get them done as fast as possible and be lean with your time expenditure on these tasks – automate wherever you can and don’t let your perfectionism get the better of you.

“You’re better off with a kick-ass half than a half-assed whole.”
― David Heinemeier Hansson, Rework

When it comes to increasing your productivity it’s rarely an exact science. Indeed, you might find that, in your case, the 80/20 rule is closer to a 70/30 or 60/40 rule. Whatever your circumstance or field, it’s important to find the areas of your work where you can improve value creation and to start addressing these as soon as possible.

 

 

 

 

 

Hannah Powell