david hieatt

The 80/20 Rule

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Pareto’s Law is named after an Italian economist Vilfredo Pareto. It is also known as the 80/20 rule, which Richard Koch wrote about in his brilliant book.

The thinking is this: If you run a business, 80% of your business probably comes from 20% of your customers. If you are a creative person, 80% of your awards/recognition/income will come from 20% of your output.

So how can knowing this principle help you manage your time? Well, start by looking at your day. See where you spend most of your time.

The likelihood is you will find out most of your time is spent on the things that you are not that good at. Too many meetings. Too much admin. Too much politics. This is called The Law of Oterap. (Pareto backwards.)

You spend 80% of your time on the things you are least good at. And where you can make the least difference. You don’t need more time in the day. You don’t need to work longer hours. You don’t need to work weekends. You just need to spend more time on what you are brilliant at. And less time on all that other stuff. 

Excerpt from my new book: Do Purpose. Why brands with a purpose do better and matter more.  

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