Prioritization – The 80/20 rule!
The essential skill that you need to make the very best use of your own efforts and those of your team.
Prioritization is also a skill that you need to create calmness and space in your life so that you can focus your energy and attention on the things that really matter.
It’s particularly important when time is limited and demands are seemingly unlimited. It helps you to allocate your time where it’s most needed and most wisely spent, freeing you and your team up from less important tasks that can be attended to later…
With good prioritization you can bring order to yourself made chaos, massively reduce stress (which you need), and move towards a successful conclusion. Without it, you’ll flounder around, drowning in unfinished tasks, and with more on your plate.
You can prioritize based on time constraints, on the potential profitability or benefit of the task you’re facing, or on the pressure you’re under to complete a job:
Prioritization based on project value or profitability is probably
Time constraints are important where other people are depending on you to complete a task, and particularly where this task is on the critical path of an important project.
And it’s a brave (and maybe foolish) person who resists his or her boss’s pressure to complete a task, when that pressure is reasonable and legitimate.
The value of the Pareto Principle for a leader is that it reminds you to focus on the 20 percent that matters. Of the things you do during your day, only 20 percent really matter. Those 20 percent produce 80 percent of your results.
Pareto’s Principle, the 80/20 Rule, should serve as a daily reminder to focus 80 percent of your time and energy on the 20 percent of your work that is really important. Don’t just “work smart”, work smart on the right things.