Watch How You Spend Your Time and Track the Results of Your Activities
Does this sound familiar? You spend your day running around and are crazy busy, and when the day ends, you wonder how you accomplished any tasks. “Where did they go?” you ask yourself. If this happened to you on a frequent basis, you are like the victim of overwhelmed, poor planning, lack of focus, or all of the above. You are not lazy, it’s just that there is so much to do that is hard to work on one thing at a time. Use the 80/20 rule to help determine what to focus on. Also known as the Pareto Principle, it states that 80% of your results come from 20% of your customers. Pareto’s principle can be applied in a myriad of ways and can be drilled down to estimate that 1% of your customers will spend 50x the amount of your typical customer. Such estimates can be helpful with products planning and pricing. The principle is very powerful and can accelerate your success practically overnight.
In addition to looking at your activities carefully so that you focus on high pay-off once, you need to measure results. One hour invested in crafting a marketing campaign is likely to bring in more sales than moving the boxes in your office. However, I would be willing to bet that you have, on occasion, avoided working on high-payoff tasks for one reason or another. You have to concentrate on activities that bring in sales as one of the most essential things you can do. If you don’t want to engage in sales, you need to find a partner or alternative methods to accomplish this all-important function.