Episode 2: How to use the 80/20 rule
How to use the 80/20 rule.
Welcome to the Self-Performance Strategies Podcast.
Main Quote for the show:
"The way to create something great is to create something simple."
― Richard Koch
Core takeaways from the show:
You are misusing the 80/20 rule, and it's affecting your results.
Many people talk about it and say they use it.
However, they tend to reference the idea as 80/20 at a high level but don't know how to use it effectively.
I have even caught consultants using it as a buzz term without understanding the layers.
There are layers? Yes, there are
Typically 3 Layers.
Say you are working in your business, and you have 100 tasks, products, or actions to complete or focus on.
You might be feeling overwhelmed.
If you use the rule stopping at the 1st 80/20, You would have 20 big tasks or items left.
20 tasks or actions are still a lot of tasks or actions, right?
To use the rule effectively, you would now 80/20 the 20.
Identify the most critical or high-value tasks or actions from your top 20. Leaving you with 4 large tasks or high-value actions left to focus on.
Now, can you get 4 large tasks or actions done in a day?
Maybe not, but in a week, sure, no problem.
But what do you focus on today?
Well, you 80/20 the 4 tasks or actions and prioritize them.
Now I know if 80/20 4 that leaves you 0.8
But you are in the world of numbers here; you will round that up to 1.
You have gone from the overwhelm of 100 tasks or actions to focusing on 1 in minutes.
The real power of the 80/20 rule.
Be careful how you use this magic.
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Big love.
Make it a great one,
Stephen
