The Power of Priorities

Thinking Ahead and Prioritising…

There are two things that business people find very challenging: thinking ahead and doing things in order of importance.

Doing these two things makes the difference between success in business and just surviving. And the same is true for all areas of our lives.

Leadership trainer and author, John Maxwell says, “thinking ahead and prioritising responsibilities marks between a leader and a follower”.

Most people have heard of the Pareto Principle, more commonly known as the 80/20 Principle. Roughly stated this says that in most businesses 80% of your business comes from 20% of your customers.

Other examples of the Pareto Principle are:

Reading – 20% of the book contains 80% of the content

Job – 20% of your work gives us 80% of our satisfaction

Products – 20% of the products bring in 80% of the profits

Picnic – 20% of the people will eat 80% of the food

So… when it comes to your priorities, 20% of your priorities will give you 80% of your production IF you spend your time, energy, money and personnel on the top 20% of your priorities.

When you do this, you are getting a 400% or fourfold return in productivity. Think what this would mean to your business!

Every person needs to understand the Pareto Principle as it applies to the areas of customers, team and leadership.

In the area of customers, it is vital to identify the 20% who account for 80% of your business. These are your “raving fans” and strategies must be put in place to care for them appropriately.

For your team, you must identify the top 20% producers. Spend 80% of your time with these people to develop them to their full potential.

In Leadership, take an honest look at the questions, “What do I have to do that no-one else can do?” Remember a leader can give up everything except final responsibility.

You can decide whether you will be reactive or proactive when it comes to the use of your time. The question is not “Will I be busy?” but “How will I invest my time?” It’s not “Will my calendar be full ?” but “Who will fill my calendar?” It’s not will I see people?” but “Who will I see?”

Do this and watch your productivity and personal satisfaction rise to new heights!