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The NEW 80-20 Rule for Business?

Copyright © 2009 Feinholz Inc.

Republish: EasyPublish™ Published: 03Oct2008 Word count: 775 Viewed: 129 time(s) Get Free Content For Your Site

To an outsider, watching my day might be completely confusing, as I do plenty of tasks that don't appear to have anything to do with my work. I know, though, exactly why I'm using my private 80-20 formula: 80 percent of my time is on 'business' and 20 percent is on 'being fit and limber for business.'

As I drove to the office supplies store today I found myself reflecting on the irony - my income has quadrupled and my responsibilities have spread, down, down, down. From strategist to file clerk. Maybe you're experiencing the same discovery?

Fourteen years ago I did strategic planning and operations analysis and leadership training and management skills coaching... as an inside consultant at one of the Disney business units. My time was spent with the top tier of business leaders in that multi-national corporation. My day was neatly organized and so was my office.

I had one file cabinet, one bookcase, one white board and pictures up on the wall. Back then, I straightened my project folders on the corner of my desk, turned out the light and walked out the door with ease.

My time at work consisted of 80-percent meetings, and 20-percent working on material to discuss in the meetings. And that filled a very full week. My hours outside of work had me limber and fresh and ready to head back each day.

Like many of you, I chose the 'more' entrepreneurial route and its unexpected complexities. I thought it would all be simpler and more straightforward. Sell work. Deliver work. Instead, I've gone from tight control over all of my attention at the office, to having twelve times as many issues call on my attention, including the sorting rack for my office.

I've got triple the files and bookcases (even after tossing out 60 percent earlier this year). I've counted 400% as many 'projects' when all my business development notes, client files, project folders and now radio show To Dos are lined up. All for my attention this week.

On a purely intellectual basis, it's a real diversion of a high priced resource for me to be standing comparing desk sorters. On a physical basis, it's a high priority task. I've got too many different things I'm working on to shoehorn papers into a system that isn't exactly how I want it at hand.

And from an emotional point of view, it's a relief to have my systems set up exactly how I want them so I'm motivated to come back to them the next day.

What does my time consist of? I think. I write. I calendar meetings.

My workday is no longer 8 a.m. to 6 p.m. focused on projects. Instead, it's a blend of marketing to attract clients, doing client work, and designing the work I want to be doing in the future.

One of my long time mentors, Kendall SummerHawk has a saying: Focus on what puts you closest to the money. I love that phrase! And it reminds me constantly to refresh where I'm putting my attention, and to know why.

Yet, for all that the "closest to the money" idea is a powerhouse one, it only tells a piece of the story when we're in charge of prioritizing it all. I like to say "Take the 80-20 Rule and re-divide it."

The 80-percent of my time is focused on 'money.' It now consists of 3 equal parts - one-third marketing, one-third client work, one-third designing the next offering I want to bring to market.

And the 20-percent looks a lot like 'rest, recreation and wandering around' to someone else. In that corporate setting, I was walking from building to building going between meetings each day. Today, I might sit for 8, 12, 16 hours without moving if it were not for those 'errands' I put myself on.

Scientists have noted for years that their breakthrough discoveries come to them when they're in the shower, on their bikes, doing anything other than focused work. And I've discovered the same process holds true for me as well.

In fact while my body is in motion on seemingly mundane tasks, activities that cannot be billed to any client, my mind is in motion, too. I'm observing, reading, pondering. I'm creating new ideas and insights that I then bring to my clients.

So excuse, me, won't you? I'm off to limber up pulling weeds for 10 minutes and have a breakthrough moment.

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