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"How to Save 2 Hours Every Day using Pareto's 80-20 Law"
- by Neil Stelling B.Sc, MBA Marketing Manager,DigiLectual http://www.secretsoftimemanagement.com/parart
© DigiLectual Inc. 2003
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Vilfredo Pareto worked as an economist in 19th Century Italy. We can still use his theories in today's 21st Century Internet economy !
His 80-20 law applies to many things, including Time Management. For example, his law says that 20% of your customers provide 80% of your revenue. It says 20% of your time spent on a project gets it 80% towards completion. 80% of people working in
computer business only do about 20% of work, and other 80% is done by 20% star workers !
So how does this law apply to time management ? How can you use it to save 2 hours every day ?
Think about any jobs you must do. Think about any projects you're working on or about to start. We all want to do best possible job. But how about this ? How would you like to get three jobs done in same time as one ? How would you like to finish one job a lot quicker, and spend extra time with friends or family ?
Pareto's law can help you do exactly that !
First of all look at 'big picture' of your project. What are you trying to achieve and why ? What main benefits do you want ? Make a simple schedule of work. Get started and work as quickly as possible. It could be a report on a new market. It could be a new product specification. Maybe you've got to write a simple piece of software ?
When you've done all you can, stop and take a look. It's good isn't it ? Now leave it there. Yes, I said leave it there. You've achieved about 80% of your target. Yet you've only spent about 20% of time you'd eventually give to that piece of work ! What would you normally do ? More research. Try to add in more bits. Endlessly fine- tune it. Perhaps you'd start again because you decide it's no good ?
