Success Tips Newsletter

March 11, 2008 

In this issue: The 80/20 rule in action: Make more, work less

by Eric Albertson

Word count:  654

Time to read: 3 minutes or less

"There is nothing so useless as doing efficiently that which should not be done at all."

-- Peter Drucker

Author, management consultant, professor

 

Is your time managing you?

Do your work, customers, social life, family life, friendships, and a million other commitments make you feel like a junior high school cross country runner on a hot and dry afternoon? Is your tongue hanging out, sweat dripping down your brow, as the coach yells, "Faster, faster, faster!"

Magic wand

Wouldn’t it be great to have a magic wand that you could wave and suddenly have it all make sense, get you hours of free time every day, and still keep everyone in your world happy?

The magic wand is known to a few

There is a secret that has been known by a precious few for thousands of years. It is the single greatest secret of productivity.

More time and money for a little careful thought

Applying this secret to your life now, can free up one to two hours a day, and catapult you into the promised land: making more while working less.

How do you work less and make more money?

Put the 80/20 rule to work for you.

The 80/20 rule says:

• 80 percent of your sales volume comes from 20 percent of your customers.

• 80 percent of your profits come from 20 percent of your customers.

• 80 percent of your results come from 20 percent of your daily activity.

• 80 percent of your headaches come from 20 percent of your customers.

• 80 percent of your satisfaction and enjoyment comes from 20 percent of the people that you spend time with.

The vital few

The 80/20 rule is telling us that a rather small number of customers, activities, and people generate a huge percentage of our sales volume, profits, results, and satisfaction, in business and in life.

Mr. Pareto to you

Vilfredo Pareto is credited with first documenting this principle that now bears his name (the Pareto principal). It's also known as the 80/20 rule.

A global principal

Pareto found that no matter the culture, the time in history, no matter the circumstances that 20 percent of the people always controlled 80 percent of the wealth.

Amazing

Pareto also found that 20 percent of the efforts of everyone he studied could account for 80 percent of their results, in any and all activities he studied.

Covers joy too

Just 20 percent of what you do is responsible for 80 percent of what you get in life, including income, joy, fun, and success in life.

Instantly available

Consider taking action today to drop some or all of the 80 percent that only yields 20 percent of your results and you may see a dramatic increase in your time, energy, and often your wealth… no matter what the economy is doing to those around you.

95/5 is possible

With my private coaching clients, I usually find that the rule is not 80/20 at all.  It is more often 95/5.  Really, 95 percent of their improvement in bottom line results comes from just 5 percent of their activities.

Warren Buffet will share his secret with you now…really!

Berkshire Hathaway's annual Chairman’s Letter, in my opinion, share's the secret of making Warren Buffet the richest man in the world.  Check out pages 5–8 of the report.  (Note: If, for some reason, clicking the link above doesn't work, copy the following URL and paste it in the Address field of your browser, to read this amazing secret of business success: (http://www.berkshirehathaway.com/letters/2007ltr.pdf.)

Warren's rules are simple.  Yours might be, too.

For today, I just want to encourage you to start observing where your results really come from.  Then ask, "What could I just quit doing, without a real adverse impact"?

Are you in a hurry and want an inexpensive but powerful road map?

I have a book with 76 powerful and proven strategies that almost every one can put into action immediately to make the 80/20 rule begin to work in their lives, today.  Take action on just four or five of these each month, for the next year, and you will be far ahead of practically everyone around you, for the rest of your life.

Get your copy of the $49 Making More While Working Less eBook, now.

To your success,

About Succeeding In Business

Succeeding In Business helps organization leaders and people who depend on commissions make more money while working less.

The principals at Succeeding In Business have generated billions of dollars of commissionable revenue, and we practice what we preach, every day. In many ways, reading this newsletter is simply getting a glimpse of our world as we help you and our clients succeed in business by making more, while working less. Succeeding in Business is about making money, having a life, and paying it forward.

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