The 80/20 Rule: Does it apply to us today?

Often I will wander through a bookstore and browse through books. Last week, I came across a book that said: We spend 80% of our time eating and 20% exercising when it comes to our health. We spend 80% of our time on purposeful things and 20% on fun when it comes to our happiness. We spend 80% of our time doing and 20% dreaming when it comes to achievement. We spend 80 % being persistent and 20% on ideas when it comes to improving. We spend 80 % understanding and 20% on ideas when it comes to learning. And we spend 80% on habits and 20% understanding the math when it comes to our wealth.

In this hectic world today, we are drowning in activity. But reality is that 80% of our results will come from 20% of our efforts.

Here is what I have found in my four decades of running businesses and consulting with businesses. 80% of your revenue comes from 20% of your products and services. And 80% of the growth in your business year over year comes from 20% of your priorities. As I have traveled and spoken on leadership trends and techniques, I have realized that 80% of my opportunities have come from 20% of my network. And 80% of my audience growth comes from 20% of my content.

So, what is the point? The challenge is that we are spread too thin—in our career, in our life, in our relationships, everywhere. As a result, we stay way too busy. We tend to chase every idea, client, project, or goal. As a result, we stay so busy that we don’t even realize that we are not effective.

Our job in life and as leaders in our business is easy. Identify the 20% that moves the needle. To use a metaphor of a keyboard for a minute, I have found that many business leaders spend their day trying to pound on every key on the keyboard. And when you turn that keyboard over, you will discover that only six keys are actually connected to your business.

So, what I try to get my clients to realize is that they don’t need to do everything. They just need to do the right things. They should cut or delegate the rest and double down on what really works.

The key question is this: What is the 20% that drives 80% of your results right now?

Try this. It is an exercise that I have done hundreds of times with key executives. Start with listing everything that you must do in your job in a day, a week, a month, and a year. Now, sort each of those things into one of three columns. Column one is for highly productive, effective and valuable to the organization-connected to its success. Not just things that are urgent but very important for long term success. Column two is for not productive at all—could be eliminated and not affect the outcome much if at all. And column three is for can be and should be reassigned to someone else in the organization, automated, or outsourced.

You can do the same exercise for your health, happiness, achievements, learning, even your wealth. Not all tasks are created equal. Many people confuse urgency with importance and that is where productivity gets hijacked. In short, don’t confuse motion with progress. Master your priorities and your future will take care of itself.

The real power is emotional, not organizational. The real strength lies in emotion management and not in having a time management tool. You must decide what to delete or delegate and this forces you to confront guilt, perfectionism and control issues—not fun, but necessary. As you detach from things that feel urgent but truly aren’t important, productivity will improve, results will improve.

As you focus more on the not urgent but important goals, it will define who you become over time. The tasks related to this are things like learning, building relationships and strategic thinking. Most people today skip these because they don’t give instant gratification. Learn to schedule and protect your time for these things because they will lead to future success more than anything else.

The most difficult part to act on is delete because it requires brutal honesty about your habits and ego. Saying no to something exposes what you have been avoiding. But every time you delete something you clarify what truly matters and that will transform your business and your life into purpose. Try it in your business. Try it in your life. It is like the ad for Men’s Warehouse used to say. Remember it? It said, “You are going to love the way you look.” So, try it—you are going to love the way you live.