WEBVTT 00:00:07.060 --> 00:00:10.699 Welcome to the Business Abundance Podcast, providing 00:00:10.699 --> 00:00:13.160 the tools and knowledge to help small business 00:00:13.160 --> 00:00:16.480 owners succeed. For additional resources, visit 00:00:16.480 --> 00:00:22.699 www .businessabundance .online. Hi everyone and 00:00:22.699 --> 00:00:25.399 welcome back to the Business Abundance Podcast. 00:00:25.780 --> 00:00:28.539 It's great to have you back here. I am joined 00:00:28.539 --> 00:00:34.770 by Ian and Rowan. Say hello. Hello. Hello. Today 00:00:34.770 --> 00:00:39.049 we're going to be chatting about does working 00:00:39.049 --> 00:00:42.770 harder make you better at your job or is it more 00:00:42.770 --> 00:00:46.189 productive? And today we're going to be focusing 00:00:46.189 --> 00:00:49.270 on the 80 -20 principle. Ian, would you like 00:00:49.270 --> 00:00:52.450 to help explain what that is? Oh, that's based 00:00:52.450 --> 00:00:59.310 on the Pareto principle. 80 -20, 80%, 20%, 80 00:00:59.310 --> 00:01:01.710 of something, 20 of something, 20 % of things 00:01:01.710 --> 00:01:06.010 create 80 % of an outcome. 20 % of your jobs 00:01:06.010 --> 00:01:10.250 are generally creating 80 % of your income. 20 00:01:10.250 --> 00:01:13.469 % of trees create 80 % of all of the massive 00:01:13.469 --> 00:01:17.730 trees in the world. 20 % of stars create 80 % 00:01:17.730 --> 00:01:21.390 of the mass of all stars. It replicates everywhere, 00:01:21.629 --> 00:01:23.829 but I assume we want to use it for a workplace. 00:01:24.469 --> 00:01:27.209 We do. Excellent. Yes. So focus on the things 00:01:27.209 --> 00:01:30.980 that create four -fifths of your income. Yeah, 00:01:31.140 --> 00:01:35.200 so 80 % of outcomes caused by 20 % of causes. 00:01:35.879 --> 00:01:43.060 That's two causes. Did you know that the Pareto 00:01:43.060 --> 00:01:46.900 principle was actually because he found out that 00:01:46.900 --> 00:01:51.500 80 % of Italians, Italy's wealth was from 20 00:01:51.500 --> 00:01:54.680 % of the population? I'm going to say no. That's 00:01:54.680 --> 00:01:59.959 a fun fact of the day. Excellent. So we're just 00:01:59.959 --> 00:02:03.079 applying that to how you can do that in the workforce 00:02:03.079 --> 00:02:09.219 and we could talk about Scope Creep. Tell me 00:02:09.219 --> 00:02:16.139 about that. I am a guilty participant. Um, it's 00:02:16.139 --> 00:02:18.960 basically - It's a strange confession. I feel 00:02:18.960 --> 00:02:21.340 like we need like a wall between us with a window. 00:02:21.659 --> 00:02:23.039 How long have you wanted to get this off your 00:02:23.039 --> 00:02:25.139 chest? Yeah. Oh, it's talked about all the time, 00:02:25.180 --> 00:02:28.580 I'm sure, in our conversations, you know. Basically, 00:02:29.000 --> 00:02:33.439 scope creep is where you're, well, from my point 00:02:33.439 --> 00:02:36.479 of view, what's asked for, I do more, even though 00:02:36.479 --> 00:02:40.360 it's not necessarily needed. Collide to the result. 00:02:40.560 --> 00:02:44.879 Yeah. So scope being what you need to do, which 00:02:44.879 --> 00:02:47.340 is generally a smaller amount of work and then 00:02:47.340 --> 00:02:49.900 creep is those small little inklings of, I should 00:02:49.900 --> 00:02:52.020 do that because it might make a difference. People 00:02:52.020 --> 00:02:52.860 ask you to do things that won't include that 00:02:52.860 --> 00:02:55.439 you do anyway. Yep. And that's not focused on 00:02:55.439 --> 00:02:59.539 the objective or the thing that will bring the 00:02:59.539 --> 00:03:01.639 greatest outcome. Do you think people do that 00:03:01.639 --> 00:03:05.780 consciously or is it just human nature? I do 00:03:05.780 --> 00:03:11.629 it. Why do I do it? Because I want a good outcome 00:03:11.629 --> 00:03:14.949 for their client, but I don't. People pleaser. 00:03:15.169 --> 00:03:17.810 Yeah. Personality styles. Go check out our other 00:03:17.810 --> 00:03:21.689 podcasts. Segue. I think there's some sort of 00:03:21.689 --> 00:03:24.210 sound effect for a segue. That'd be great. Not 00:03:24.210 --> 00:03:28.969 today. Oh, yeah. No, probably not that one. Shocking. 00:03:29.849 --> 00:03:32.870 Can't get good help these days. Wrong button. 00:03:34.210 --> 00:03:37.889 So yes, scope crate being that and that is definitely 00:03:37.889 --> 00:03:41.969 not 20 % of the work that will bring about the 00:03:41.969 --> 00:03:45.469 80 % outcome. Now, I feel like the only objection 00:03:45.469 --> 00:03:48.849 people will have is 80 % isn't enough. Ron, what 00:03:48.849 --> 00:03:51.750 would you say about that? 80 % isn't enough. 00:03:52.169 --> 00:03:55.370 Well, just it's a principle. So it doesn't have 00:03:55.370 --> 00:03:58.689 to be exactly 80 % but to think about what you 00:03:58.689 --> 00:04:00.979 do. week to week so if you're if you're busy 00:04:00.979 --> 00:04:02.759 let's say you're super busy you're working 60 00:04:02.759 --> 00:04:06.300 -70 hours a week applying that principle principle 00:04:06.300 --> 00:04:08.840 is saying that 20 % of that time is creating 00:04:08.840 --> 00:04:12.379 80 % of the results so I guess then you're looking 00:04:12.379 --> 00:04:18.220 at maybe you've got 40 hours a week plus a little 00:04:18.220 --> 00:04:20.500 bit maybe 40 let's say 40 that you're generating 00:04:20.500 --> 00:04:24.120 20 % of your result now if you could just stop 00:04:24.120 --> 00:04:25.680 doing all that work because it doesn't really 00:04:25.680 --> 00:04:27.970 matter whether you're doing it on purpose, whether 00:04:27.970 --> 00:04:32.029 you're scope creeping it, and you reallocate 00:04:32.029 --> 00:04:35.050 that to something else that gives you a big impact. 00:04:35.990 --> 00:04:37.410 So, you know, put 10 of those hours in something 00:04:37.410 --> 00:04:38.949 else that's going to give you an 80 % result. 00:04:39.490 --> 00:04:41.829 Then, you know, you're getting a lot more than 00:04:41.829 --> 00:04:45.389 100 % there. You're getting an exponential gain. 00:04:46.470 --> 00:04:49.509 Especially with people who micromanage. So, their 00:04:49.509 --> 00:04:52.889 skill might be building fuzzy widgets, but they 00:04:52.889 --> 00:04:56.100 find themselves doing... Other parts of the business 00:04:56.100 --> 00:04:59.779 especially as a business owner So they do all 00:04:59.779 --> 00:05:01.379 the inconsequential stuff that they've actually 00:05:01.379 --> 00:05:04.540 hired people to do So you end up doing 80 % of 00:05:04.540 --> 00:05:06.100 the things that you probably don't need to be 00:05:06.100 --> 00:05:09.240 doing anyway Whereas if you spent your 20 % on 00:05:09.240 --> 00:05:14.399 your niche You'd increase your income What would 00:05:14.399 --> 00:05:17.240 those so we're talking about prioritizing tasks 00:05:17.240 --> 00:05:19.240 for yourself, what would that look like in a 00:05:19.240 --> 00:05:23.579 practical sense? Firstly you need to identify 00:05:23.720 --> 00:05:27.879 what the 20 % of tasks that you do are going 00:05:27.879 --> 00:05:30.620 to generate the most productivity. How can they 00:05:30.620 --> 00:05:33.240 do that? Having a good look at yourself in the 00:05:33.240 --> 00:05:35.500 mirror, probably. Make a list. Yeah, make a list. 00:05:35.839 --> 00:05:37.579 All the things you do and write them down. Even 00:05:37.579 --> 00:05:40.399 if it's something as simple as I made three coffees 00:05:40.399 --> 00:05:44.019 for employees today. Myself before nine. Before 00:05:44.019 --> 00:05:46.259 nine o 'clock because I was working late. And 00:05:46.259 --> 00:05:47.920 you couldn't concentrate for the next three hours. 00:05:48.139 --> 00:05:50.160 Because I was working late doing other things 00:05:50.160 --> 00:05:52.680 that I was supposed to be doing. And that wasn't 00:05:52.680 --> 00:05:54.879 part of my 20%. So now I've had to catch up on 00:05:54.879 --> 00:05:56.699 the next day and it doesn't take long before 00:05:56.699 --> 00:05:59.660 it snowballs. And then your task list for today 00:05:59.660 --> 00:06:01.800 is actually the end of your task list for yesterday 00:06:01.800 --> 00:06:04.660 or the day before. Going back to that question 00:06:04.660 --> 00:06:07.620 though, make a list of everything and then maybe 00:06:07.620 --> 00:06:09.680 next to it put down whether it's important or 00:06:09.680 --> 00:06:12.579 not. And then you can sort of say, well, should 00:06:12.579 --> 00:06:14.980 I do this at all? Yes, no. So some things you 00:06:14.980 --> 00:06:17.199 can go, well, I don't even need to do it. I just 00:06:17.199 --> 00:06:21.170 do it because I do. Well, and it could be scope, 00:06:21.189 --> 00:06:23.089 the scope creep, it could be someone asks you 00:06:23.089 --> 00:06:24.490 to do it so you started doing it. It could be 00:06:24.490 --> 00:06:26.269 that you just decided that it was nice to do, 00:06:26.269 --> 00:06:28.449 but it doesn't actually matter that much. Well, 00:06:28.449 --> 00:06:32.589 maybe it's a 20 % result. So can I give it to 00:06:32.589 --> 00:06:34.470 someone else? Can I, et cetera, et cetera, et 00:06:34.470 --> 00:06:36.829 cetera. And then, okay, well, all those things 00:06:36.829 --> 00:06:40.470 that aren't creating a big impact, then, okay, 00:06:40.670 --> 00:06:42.389 let's give that to someone else or stop doing 00:06:42.389 --> 00:06:44.629 it and then use our time on something that's 00:06:44.629 --> 00:06:46.189 going to give us a big impact. It's actually 00:06:46.189 --> 00:06:50.259 quite a difficult process. especially if you've 00:06:50.259 --> 00:06:52.220 been set in your ways for quite some time. And 00:06:52.220 --> 00:06:53.779 this is the way we've always done it. I'm sure 00:06:53.779 --> 00:06:57.899 we've talked about that before, but it's hard 00:06:57.899 --> 00:07:02.060 to be introspective and judgmental of yourself. 00:07:03.639 --> 00:07:05.759 Lots of things, lots of excuses can come into 00:07:05.759 --> 00:07:08.720 play where if I don't do that, no one's going 00:07:08.720 --> 00:07:12.680 to do it. Well, that's probably not true. There'll 00:07:12.680 --> 00:07:14.360 always be someone to do it, especially once you 00:07:14.360 --> 00:07:18.379 start getting some decent employees. And if I 00:07:18.379 --> 00:07:19.939 don't do that, where's my customer satisfaction? 00:07:20.040 --> 00:07:23.680 When you have scope query, for instance, I like 00:07:23.680 --> 00:07:26.240 to do those little extra things. It makes my 00:07:26.240 --> 00:07:28.899 customers happy and builds referrals, which may 00:07:28.899 --> 00:07:31.620 be the case or it may not be the case. And it 00:07:31.620 --> 00:07:33.160 might make the referrals and it might make them 00:07:33.160 --> 00:07:35.180 happy, but it might be that you're putting 80 00:07:35.180 --> 00:07:39.040 % effort in for a 20%. satisfaction so okay well 00:07:39.040 --> 00:07:41.040 what if we stop doing that and now I've got more 00:07:41.040 --> 00:07:42.279 time to do something that's going to make them 00:07:42.279 --> 00:07:44.439 much happier yeah like that's the probably the 00:07:44.439 --> 00:07:47.300 way to look at it absolutely what are the tasks 00:07:47.300 --> 00:07:48.899 that I can do they're going to have the biggest 00:07:48.899 --> 00:07:52.060 impact but I think for a lot of people it's not 00:07:52.060 --> 00:07:55.600 just oh who will do it it's the comfort zone 00:07:55.600 --> 00:07:57.579 of doing a task that you you know you can fill 00:07:57.579 --> 00:07:59.720 out your day you can be busy you feel like you're 00:07:59.720 --> 00:08:01.740 doing something you're confident with whereas 00:08:01.740 --> 00:08:03.660 if when you're always having to okay well how 00:08:03.660 --> 00:08:06.689 can I Use my time better. You're always stepping 00:08:06.689 --> 00:08:09.370 outside of your comfort zone, which to be honest 00:08:09.370 --> 00:08:13.189 is good growth for most people, you know It's 00:08:13.189 --> 00:08:17.350 it's a hard one to do Yeah, when you talk about 00:08:17.350 --> 00:08:19.829 that, it makes me think about Figuring out when 00:08:19.829 --> 00:08:22.629 you work best as well. Yep. Some people work 00:08:22.629 --> 00:08:26.050 better early early hours of the morning. I know 00:08:26.050 --> 00:08:30.050 someone like that It's not me No. I thought you 00:08:30.050 --> 00:08:32.090 were an early person. No, definitely not. I'm 00:08:32.090 --> 00:08:38.370 awake early. I work best from eight till one. 00:08:38.990 --> 00:08:41.830 I figured that out. Yep. And then in the afternoon, 00:08:42.710 --> 00:08:45.509 there's not a lot of creative energy there. So 00:08:45.509 --> 00:08:51.370 it's not early. Okay. I think that's pretty normal. 00:08:52.909 --> 00:08:56.070 But yeah, it takes me a couple of hours to get 00:08:56.070 --> 00:08:58.769 some steam in order to make those hours the best 00:08:58.769 --> 00:09:02.289 they can be. And I've also found working later 00:09:02.289 --> 00:09:07.309 at night seems to be a bit of a motivation spike. 00:09:08.309 --> 00:09:12.029 But yeah, it doesn't mean that I'm energetic 00:09:12.029 --> 00:09:15.690 and motivated from eight till five when I work. 00:09:17.690 --> 00:09:19.509 Yeah, you just got to figure it out for yourself. 00:09:20.620 --> 00:09:22.519 So basically what you're saying is that you can 00:09:22.519 --> 00:09:24.580 apply the principle to your time during the day, 00:09:24.600 --> 00:09:26.659 so you're going to be more productive in 20 % 00:09:26.659 --> 00:09:28.559 of the time that you spend working in a day. 00:09:29.139 --> 00:09:31.519 So understanding that and making that for the, 00:09:32.159 --> 00:09:34.799 you know, putting your tasks or your jobs into 00:09:34.799 --> 00:09:37.000 that period that you need to, and then the time 00:09:37.000 --> 00:09:40.840 that you're not going to be so useful then. I 00:09:40.840 --> 00:09:43.799 think the first time I was exposed to the Pareto 00:09:43.799 --> 00:09:46.399 principle, they were talking about the productivity 00:09:46.399 --> 00:09:50.179 of employees in a large corporation and how 20 00:09:50.179 --> 00:09:53.639 % of the people on your workforce generate 80 00:09:53.639 --> 00:09:56.179 % of the income. I was just about to talk about 00:09:56.179 --> 00:09:59.360 that. Segway. What a great Segway. I'm built 00:09:59.360 --> 00:10:02.919 for Segways today. I might go for a ride. Wrong 00:10:02.919 --> 00:10:07.019 Segway in. So yeah, it's talking about how you 00:10:07.019 --> 00:10:10.259 can deal with top performers when they do produce 00:10:10.259 --> 00:10:12.279 such a massive amount of work and then how you 00:10:12.279 --> 00:10:15.600 keep those people because they are really important 00:10:15.600 --> 00:10:18.460 to your business. And those things being give 00:10:18.460 --> 00:10:23.460 them the recognition or some sort of reward, 00:10:23.639 --> 00:10:27.019 for use of a better word, that they see as valuable 00:10:27.019 --> 00:10:30.960 to keep them motivated and part of the business. 00:10:31.740 --> 00:10:34.230 So what you're saying basically, if you're apply 00:10:34.230 --> 00:10:36.190 this principle to people working in your business, 00:10:36.649 --> 00:10:38.230 then 20 % of people are going to be far better 00:10:38.230 --> 00:10:41.230 than everyone else. So you've got to treat them 00:10:41.230 --> 00:10:44.850 as such. Yep. Which thing can create aspirational 00:10:44.850 --> 00:10:48.029 goals for your other 80 %? Potentially. Yeah. 00:10:48.649 --> 00:10:50.750 Yeah. Or make them go, oh, what's the point? 00:10:51.389 --> 00:10:53.889 So then you think, what about the 80 % doing? 00:10:54.809 --> 00:10:58.090 If they're only getting 20 % of the result. It's 00:10:58.090 --> 00:11:01.470 a harsh reality, isn't it? Yeah. So it's not 00:11:01.470 --> 00:11:04.149 20 % every time, but it's a... you know, a common 00:11:04.149 --> 00:11:08.789 sort of split. So it's what can they do to be 00:11:08.789 --> 00:11:11.549 brought up to the other ones? Or when you're 00:11:11.549 --> 00:11:13.389 looking to recruit new people, then it's trying 00:11:13.389 --> 00:11:15.549 to bring in someone better than the 20 % doing 00:11:15.549 --> 00:11:18.190 80 % of the results to make them go, oh, I can 00:11:18.190 --> 00:11:20.809 actually do better. Model who you want to recruit 00:11:20.809 --> 00:11:23.490 off that 20%. Yeah, correct. And set up your 00:11:23.490 --> 00:11:25.370 systems and your recognition, your rewards on 00:11:25.370 --> 00:11:27.950 those 20 % of the people, not the majority. So 00:11:27.950 --> 00:11:30.940 a lot of people go, I'll ask my whole team. what 00:11:30.940 --> 00:11:32.620 we should do and they come back for all these 00:11:32.620 --> 00:11:34.500 things that are nice and blah, blah, including 00:11:34.500 --> 00:11:37.179 everyone. But at the end of the day, very few 00:11:37.179 --> 00:11:39.139 of those people are the best employees that are 00:11:39.139 --> 00:11:40.899 creating all those results that you want to mimic 00:11:40.899 --> 00:11:43.539 and replicate. Yep. You can break it down into 00:11:43.539 --> 00:11:47.179 teams as well. So an 80 -20 split of five people, 00:11:47.220 --> 00:11:50.460 for instance, in a team, roughly half and half 00:11:50.460 --> 00:11:54.960 it would take. Like it's two to three. An 80 00:11:54.960 --> 00:11:58.200 -20 split of 100 people, you've got 20 -80, obviously. 00:11:58.399 --> 00:12:01.710 Yep. So you've got 80 people that are twiddling 00:12:01.710 --> 00:12:05.470 their thumbs for 80 % of the time and 20 people 00:12:05.470 --> 00:12:08.830 who are creating most of your income. So if you 00:12:08.830 --> 00:12:12.009 break them down into teams of five, you may even 00:12:12.009 --> 00:12:13.889 increase your productivity, which is where it 00:12:13.889 --> 00:12:17.389 was first exposed to me was break it down into 00:12:17.389 --> 00:12:20.570 small teams for your bigger corporations. Yeah, 00:12:20.570 --> 00:12:22.889 it just reminds me of school where you get in 00:12:22.889 --> 00:12:24.809 the team projects and there's always that one 00:12:24.809 --> 00:12:28.860 or two people that gets everything done. And 00:12:28.860 --> 00:12:31.440 teams, if we go to sport teams, then you think 00:12:31.440 --> 00:12:34.860 about the best quarterback, they're earning how 00:12:34.860 --> 00:12:38.340 much more than the others? You know, the best 00:12:38.340 --> 00:12:40.580 soccer players, how much more are they earning 00:12:40.580 --> 00:12:43.399 than the average soccer player? Like, it's mega, 00:12:43.559 --> 00:12:45.259 the difference. Well, you look at those salary 00:12:45.259 --> 00:12:49.799 caps and even that across most sports break down 00:12:49.799 --> 00:12:52.960 in the Proto's principle. 80 % of the wealth 00:12:52.960 --> 00:12:55.259 is with 20 % of the players. Yeah, and then like 00:12:55.259 --> 00:12:58.340 in a golf tournament in the PGA say so half of 00:12:58.340 --> 00:13:00.519 them earning nothing and then the top few are 00:13:00.519 --> 00:13:01.980 gonna be earning mega bucks and the rest earning, 00:13:01.980 --> 00:13:03.919 you know, peanuts and probably going backwards 00:13:03.919 --> 00:13:08.779 Yeah, best cricket contracts a few people getting 00:13:08.779 --> 00:13:10.700 millions and millions and others are getting 00:13:10.700 --> 00:13:15.120 50 ,000 And tennis players same thing top 10 00:13:15.120 --> 00:13:17.879 earn a lot more than the top 500. I just had 00:13:17.879 --> 00:13:21.230 a look at the The NFL ones actually a lot of 00:13:21.230 --> 00:13:23.009 the quarterbacks now are on sort of sixty million 00:13:23.009 --> 00:13:28.049 dollars a year and Your salary cap is five times 00:13:28.049 --> 00:13:30.929 that yeah, how many people on a team there? Yeah, 00:13:30.929 --> 00:13:34.330 you got forty forty two in it in a roster Yeah, 00:13:34.649 --> 00:13:37.389 one person's taking what was it one fifth one 00:13:37.389 --> 00:13:41.210 fifth. Yeah That's crazy to me. It's a lot of 00:13:41.210 --> 00:13:44.029 money. Yeah, so you think about that in your 00:13:44.029 --> 00:13:46.830 we're talking about teams then but are you trying 00:13:46.830 --> 00:13:48.929 to get more high performers that are creating 00:13:48.929 --> 00:13:51.169 they're not necessarily doing more work but they're 00:13:51.169 --> 00:13:53.529 creating more result having more impact are you 00:13:53.529 --> 00:13:56.029 trying to mimic trying to get more of that or 00:13:56.029 --> 00:13:58.509 are you trying to get more people or please everyone 00:13:58.509 --> 00:14:01.850 and once you understand that it does replicate 00:14:01.850 --> 00:14:05.529 across pretty much everything you can use that 00:14:05.529 --> 00:14:08.710 to your advantage once you once you understand 00:14:08.710 --> 00:14:12.269 that the maths behind it and it sounds very clinical 00:14:12.269 --> 00:14:14.529 and i'm i'm one of the people that rails against 00:14:14.529 --> 00:14:17.000 analytics a lot because there's more to life 00:14:17.000 --> 00:14:19.940 than analytics but when the data adds up like 00:14:19.940 --> 00:14:23.360 this you've got to look at it and go maybe there's 00:14:23.360 --> 00:14:27.620 something to these magical numbers. Yeah so if 00:14:27.620 --> 00:14:29.980 you're looking at like what's products or services 00:14:29.980 --> 00:14:34.039 your business provides then it's a similar sort 00:14:34.039 --> 00:14:37.879 of thing as mentioned before but if you've got 00:14:37.879 --> 00:14:40.700 one product that's making 80 % of your income 00:14:40.700 --> 00:14:42.700 and 20 % of your work well okay well that's a 00:14:42.700 --> 00:14:44.820 good product and then we've got 80 % of products 00:14:44.820 --> 00:14:47.190 doing 20 like Do we need to be looking at what 00:14:47.190 --> 00:14:50.929 we're offering people or product or service? 00:14:51.029 --> 00:14:53.870 It could be either or. And types of client. Yeah. 00:14:54.009 --> 00:14:55.730 So if we're doing all this work and we have all 00:14:55.730 --> 00:14:57.769 this, this, this effort going into something 00:14:57.769 --> 00:14:59.149 that's not really making that much money, well, 00:14:59.269 --> 00:15:00.570 okay, it's great. It's part of the business and 00:15:00.570 --> 00:15:02.190 you think it's important and it's, you know, 00:15:02.250 --> 00:15:04.230 because you see so much of it happening, you, 00:15:04.409 --> 00:15:06.769 you think it's the main, main part of your business. 00:15:06.789 --> 00:15:10.090 And we look busy. Yeah. But could you stop doing 00:15:10.090 --> 00:15:12.250 that and then do something that's going to be 00:15:12.250 --> 00:15:14.470 highly profitable instead? And that could be 00:15:14.470 --> 00:15:16.669 a whole lot less work. I was thinking before 00:15:16.669 --> 00:15:19.370 the podcast, if you're super busy all the time, 00:15:20.230 --> 00:15:22.909 do less and get more done. You know, it's probably, 00:15:22.909 --> 00:15:25.549 it should be a title of the podcast. Are you 00:15:25.549 --> 00:15:27.330 super busy? Do less, get more done. Pretty sure 00:15:27.330 --> 00:15:29.350 there's a book. Yeah. But like, cause you're 00:15:29.350 --> 00:15:31.970 so busy, you're tired, you know, you can't think 00:15:31.970 --> 00:15:33.870 straight, stressed, whatever you forget what's 00:15:33.870 --> 00:15:36.730 going on. Um, you know, you're unorganized, but 00:15:36.730 --> 00:15:38.389 at the end of the day, if you just did one fifth 00:15:38.389 --> 00:15:40.549 and you're getting 8 % done, then you're not 00:15:40.549 --> 00:15:41.649 going to be tired. You're not going to be stressed. 00:15:41.730 --> 00:15:43.360 You're not going to be unorganized. And you have 00:15:43.360 --> 00:15:44.919 time to do the stuff that's actually important. 00:15:45.120 --> 00:15:46.879 You're going to do it better. Yeah, correct. 00:15:47.279 --> 00:15:49.820 So it's forcing yourself to do the right things, 00:15:49.879 --> 00:15:51.899 not just be busy because you have to be busy. 00:15:52.460 --> 00:15:54.139 If I was well researched, I'd know who wrote 00:15:54.139 --> 00:15:57.179 that book. Something, something work week. The 00:15:57.179 --> 00:15:59.159 four hour work. Yeah, that one. There we go. 00:15:59.700 --> 00:16:01.659 That's the first time I've got someone's name 00:16:01.659 --> 00:16:06.820 and I don't remember anyone. Yeah. I'm so proud. 00:16:07.200 --> 00:16:12.179 Two seasons in. Growth. But yeah, that book. 00:16:12.299 --> 00:16:14.679 Definitely talks. It's got some good good ideas 00:16:14.679 --> 00:16:16.679 and it's probably not for everyone as well But 00:16:16.679 --> 00:16:18.419 it's saying well, okay. Well if you're designing 00:16:18.419 --> 00:16:20.679 your life to only work four hours a week, what 00:16:20.679 --> 00:16:22.960 do you have to do? So, you know, it's got a cult 00:16:22.960 --> 00:16:25.620 following and it's definitely changes your your 00:16:25.620 --> 00:16:27.419 thought to catch your title If you're only working 00:16:27.419 --> 00:16:28.740 four hours a week, you probably get quite bored 00:16:28.740 --> 00:16:31.120 as well You need projects to do but the idea 00:16:31.120 --> 00:16:34.059 is that you you're setting things up to to generate 00:16:34.059 --> 00:16:36.879 income and allow you to do what you want to do 00:16:36.879 --> 00:16:41.120 the original clickbait Imagine a four -hour workweek. 00:16:41.120 --> 00:16:45.980 I'd better read that. I've been working a lot 00:16:45.980 --> 00:16:51.460 on marketing at the moment. That's lucky. Why? 00:16:51.639 --> 00:16:59.700 That's what you do. I have found that when it 00:16:59.700 --> 00:17:02.240 comes, we create an action plan essentially for 00:17:02.240 --> 00:17:04.960 each of our clients. And out of that, we find 00:17:04.960 --> 00:17:07.700 it will have the greatest outcome when it comes 00:17:07.700 --> 00:17:10.259 to their end goals, whether that be lead generation 00:17:10.259 --> 00:17:15.000 or brand awareness. And we focus on that action 00:17:15.000 --> 00:17:20.240 plan to get things done. And sometimes you'll 00:17:20.240 --> 00:17:23.119 find you just want to do all the marketing activity 00:17:23.119 --> 00:17:26.059 because it's just. you need to do emails and 00:17:26.059 --> 00:17:27.839 you need to do social media and you need to be 00:17:27.839 --> 00:17:29.519 on Instagram and you need to do TikTok and you 00:17:29.519 --> 00:17:33.299 need to do jump on Facebook as well and you also 00:17:33.299 --> 00:17:35.259 need to do brochures and you also need to do 00:17:35.259 --> 00:17:39.200 press radio, TV. There's so many marketing channels 00:17:39.200 --> 00:17:42.759 that you can be a part of but that doesn't necessarily 00:17:42.759 --> 00:17:44.920 mean it's going to be most effective and you 00:17:44.920 --> 00:17:50.240 can obviously in line with getting your audience 00:17:50.240 --> 00:17:54.450 right and where they are. when you're going to 00:17:54.450 --> 00:17:56.809 make it effective, you've got to look at what 00:17:56.809 --> 00:17:59.069 channel brings in the most amount of leads and 00:17:59.069 --> 00:18:01.470 focus on that and put the investment in that. 00:18:01.809 --> 00:18:04.630 Because if there's, if you use Google ads and 00:18:04.630 --> 00:18:06.529 it creates the most amount of leads, focus on 00:18:06.529 --> 00:18:09.769 that. Don't focus on TikTok because otherwise 00:18:09.769 --> 00:18:13.089 you're just going to be leaking money essentially. 00:18:13.150 --> 00:18:17.849 And you can apply that to most areas of the services 00:18:17.849 --> 00:18:19.809 and products that you provide. Could be a good 00:18:19.809 --> 00:18:23.720 exercise for people listening to have a look 00:18:23.720 --> 00:18:28.700 at their business and see where 80 -20 does appear 00:18:28.700 --> 00:18:31.640 within the business. It could be lots of fun 00:18:31.640 --> 00:18:34.380 as a team building exercise. I'll sit down with 00:18:34.380 --> 00:18:36.859 a piece of butchers paper. As a team, who's good? 00:18:37.079 --> 00:18:39.799 Yeah, you kind of are a bit rubbish actually. 00:18:39.859 --> 00:18:44.390 We're gonna have to let you go. Just on what 00:18:44.390 --> 00:18:45.630 you're talking about there, so it's talking like 00:18:45.630 --> 00:18:48.170 in your role with marketing in the channels and 00:18:48.170 --> 00:18:50.369 which are most effective. You fit that completely. 00:18:50.509 --> 00:18:52.250 So we're talking about what we do, but then you 00:18:52.250 --> 00:18:53.549 think about what your client of your business 00:18:53.549 --> 00:18:55.890 thinks about. So they're not thinking about what 00:18:55.890 --> 00:18:58.130 20 % creates 80 % of the result. They're thinking 00:18:58.130 --> 00:19:00.569 about the 20 % of things they care about that's 00:19:00.569 --> 00:19:02.690 80 % of the importance to them. So you could 00:19:02.690 --> 00:19:05.430 actually be nailing all of the things that were 00:19:05.430 --> 00:19:07.349 agreed to be the most important to give you the 00:19:07.349 --> 00:19:10.789 biggest result, but they're just focused on 20 00:19:10.789 --> 00:19:13.450 % of things that they care about. And they'll 00:19:13.450 --> 00:19:15.049 be 80 % of the complaints because you're not 00:19:15.049 --> 00:19:17.670 doing it. Even though you're focusing on things 00:19:17.670 --> 00:19:20.630 with the high results. So it's people's opinions, 00:19:20.750 --> 00:19:23.190 20 % of those have 80 % of the importance and 00:19:23.190 --> 00:19:25.569 it might, their opinions, their opinions. So 00:19:25.569 --> 00:19:26.990 it might be the right ones, might be the wrong 00:19:26.990 --> 00:19:29.170 ones, but that's going to be 80 % of the feedback 00:19:29.170 --> 00:19:31.309 you get. Their opinions, the most important thing 00:19:31.309 --> 00:19:33.450 to them though. So if you're not listening to 00:19:33.450 --> 00:19:36.529 your clients and your customers, you might be 00:19:36.529 --> 00:19:39.769 making a little bit of a mistake. Correct. Yeah. 00:19:40.490 --> 00:19:43.400 I just think it... It might be hard for people 00:19:43.400 --> 00:19:45.279 to implement. It's actually quite easy, but it 00:19:45.279 --> 00:19:47.619 might be like a bit of a... It's a bit scary. 00:19:47.759 --> 00:19:51.400 Challenging. Yeah, it's challenging. So start 00:19:51.400 --> 00:19:54.380 by writing your list. Figure out what's important 00:19:54.380 --> 00:19:59.160 or not and set boundaries, I guess. Ask your 00:19:59.160 --> 00:20:01.240 testers. Don't do the small things. Don't do 00:20:01.240 --> 00:20:03.640 unnecessary meetings or if you do do meetings, 00:20:03.759 --> 00:20:05.640 make sure that they don't drag out for an hour 00:20:05.640 --> 00:20:07.380 or... Don't do meetings that could be an email. 00:20:07.779 --> 00:20:10.779 Yeah. There you go. Yeah, I think it's pretty 00:20:10.779 --> 00:20:12.420 straightforward. It's just once you understand 00:20:12.420 --> 00:20:14.200 that a lot of things you do don't have a huge 00:20:14.200 --> 00:20:16.839 impact and some do, just do more of the stuff 00:20:16.839 --> 00:20:19.839 that's high impact and don't do as much of the 00:20:19.839 --> 00:20:21.599 stuff that doesn't. Oh, but the stuff that's 00:20:21.599 --> 00:20:24.000 not high impact is really fun and I enjoy that. 00:20:24.160 --> 00:20:25.880 It doesn't mean you don't have to do it. Just 00:20:25.880 --> 00:20:31.359 don't do a lot of it. Yeah, just all in moderation. 00:20:33.119 --> 00:20:37.029 Same as chocolate. Moderation. Anyway, yeah, 00:20:37.130 --> 00:20:39.970 if you want to refer to a book to learn more 00:20:39.970 --> 00:20:43.390 about the 80 -20 principle, there is the 80 -20 00:20:43.390 --> 00:20:45.829 principle, the secret to achieving more with 00:20:45.829 --> 00:20:50.029 less. That's by Richard Koch, I think is how 00:20:50.029 --> 00:20:53.789 you pronounce his last name. But yeah, have a 00:20:53.789 --> 00:20:56.470 read through that, try and implement it. Will 00:20:56.470 --> 00:20:59.009 there be a link? There will be a link in the 00:20:59.009 --> 00:21:03.869 description below. Otherwise, have a great rest 00:21:03.869 --> 00:21:06.869 of your week or whenever you're listening and 00:21:06.869 --> 00:21:09.390 we'll see you in the next podcast. Bye. Bye. 00:21:09.690 --> 00:21:09.910 Bye.