Learning what you need to do to run a business isn’t hard. But learning what works for you is. The real culprit is time. It’s easy to put together a list of every idea and task we need to pursue. But we’ll never have the time to do them all. We think of the challenge as a matter of doing. We talk about motivation, inspiration, and effort. And these are all key. But there’s another side to it. Being good isn’t just about what you do. It is every bit as much what you decide not to do.
The Italian economist Pareto observed in 1906 that 80% of the land was owned by 20% of the population. He later found that in his garden, 80% of his peas were found in 20% of his pea pods. Hence, the 80/20 rule.
The trick is in commitment. Don’t water down your efforts by focusing on day-to-day activities that take you away from the things that generate the profit. After awhile, everyone starts to get an idea of what the 20% is. But most people never lose the habit of spending most of their time on the 80%. The one hour call we didn’t need to make. The site inspection that used up 3 hours of our time. Commit to the activities that have value. For you and your clients. Redistribute your activities and re-align your priorities. Sit down for 5 minutes in the morning to figure out what you really need to do. Go over where you are at night. Look at what you need to do. Look at what you don’t. And let go of those things.
There’s also a corollary to the 80/20 rule. In most activities, the first 80% brings in very little. It is the last 20% that actually creates the most value. It’s in the last 20% you push yourself. That’s where you stretch and build muscle. It’s there where you differentiate yourself from most, because everyone else stops too early. And it’s there, at which the market recognizes your commitment and you start to discover innovation. The most useful 20% of you time is your final 20%.
In all cases, avoid indecision. You’ll miss the mark sometimes, no matter what. Indecision will not spare you from that. It will just delay you from getting past it, or leave you sitting on the sidelines, when you should be in the middle of the game. Don’t back peddle the moment something is difficult, don’t deceive yourself into feeling productive by doing a little of everything, regardless of whether it matters. Commit to what you do, push through it 100%. Go past good enough. It will take you somewhere. Then go back, and do it all over again.
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