Search Results for: 80/20

Not all clients are the same. Don’t treat them all the same.

February 6, 2012 by David M. Ward

Some clients are better than others. You know the ones I’m talking about. They have more work for you (or bigger cases), they pay on time, and they don’t call you every other day to ask the same questions you already answered three times before.

I’m sure you have your own list of what constitutes a better client.

Better clients are worth more to us and we should acknowledge this. We shouldn’t feel guilty about treating some clients better than others or trying to treat everyone the same because it’s fair or politically correct.

Look, if someone is paying me $150,000 a year, I’m going to give him more attention than someone who pays me $1,000 for a one time transaction. That’s just the way it is.

Of course today’s $1,000 client could refer tomorrow’s $10,000 client who could, in turn, refer next year’s $100,000 client. And so the notion of treating some clients better than others does not imply that it’s okay to treat some clients below a minimum standard of care. In fact, we should strive to exceed that minimum whenever possible. But let’s face it, not all clients deserve the same treatment.

Seth Godin agrees.

So does Richard Koch, the author of The 80/20 Principle:

“Marketing, and the whole firm, should devote extraordinary endeavour towards delighting, keeping for ever and expanding the sales to the 20 per cent of customers who provide 80 per cent.”

Make a list of your “twenty percent” clients, the ones who provide the bulk of your income. Start paying more attention to them, acknowledging them and strengthening your relationship with them. Give them more of your (non-billable) time, spend more on their Christmas gifts, and do whatever you can do to convert them from being merely “satisfied” clients to raving fans.

And while you’re at it, make a similar list for your referral sources.

By the way, the same idea applies to prospects. Some are better than others. You should have a plan in place to give more to those who are worth more.

Filed Under: Client relations, Law office management, Leverage Tagged With: clients-are-not-all-the-same, customers-are-not-all-the-same, how-to-use-evernote-4-for-law-office-management, lawerys-is-the-standard-of-care-the-same-for-all-clients, not-all-clients-are-the-same, seth-godin-10000-raving-fans-quote, seth-godin-treating-all-customers-the-same, sterotyping-clients-and-treating-them-the-same, treating-some-clients-better-than-others, what-is-it-when-you-treat-everyone-the-same, why-do-attorney-treat-their-clients-better

The smartest way to grow your law practice

December 20, 2011 by David M. Ward

So, what’s your plan for growing your practice next year?

Before you take on anything new, there’s something you should do first.

The first thing you should do is make a list of everything you have tried in the past. Go through your calendar, your notes, ask your staff, and write down everything you did that could be called “marketing”.

What meetings did you go to? Whom did you meet for the first time? What did you write? Where did you speak? What did you mail?

Put everything that worked on your list, and everything that didn’t.

It’s easy to identify what worked. If you track where new clients come from (referrals, ads, seminars, web site, social media, etc.), all you have to do is look at your stats. If you don’t track this, go through your new client list and see if you can reconstruct what you were doing just prior to being hired. (And make a note to start tracking every new client from now on.)

It’s not as easy to identify what has not worked, but it’s just as important. Do the best you can with this and in the future, keep a marketing diary and make an entry every day about anything you did that day that could be construed as marketing.

Don’t forget repeat clients. Keeping your clients happy, keeping them informed about the progress of their case, communicating and building a relationship with them, all have marketing implications.

And don’t forget referral sources. Those coffees and lunches, thank you letters and Christmas gifts are also part of your marketing mix.

Also, check your web site stats. Where is your traffic coming from? Which key words are bringing not just clicks but clients.

Making these two lists–what’s worked and what hasn’t–is one of the smartest things you can do in marketing (or anything else you want to improve) and you should do this before you even think about doing anything new.

The reason? The 80/20 principle, which tells us that the best way to achieve more is to, “do more of what worked in the past and less of what didn’t”.

Now that you have your two lists, you can identify the things that have worked for you and do more of them. You’ll find the time for this by cutting down on or eliminating those things that have not worked or haven’t worked as well.

You may find that eliminating things that aren’t working is difficult, especially if you’ve been doing them for awhile. This is common for all of us. Our fears prevent us from letting go or we tell ourselves we just need to get better or do it longer and the results will kick in. If we spent money on something, it’s even harder to let go because we get attached to earning back our investment.

Trust the numbers. Let go of what’s not working, no matter how much time or money you’ve invested.

Yes, sometimes you will let go of something too soon that could have been a big winner for you had you kept going. But what makes more sense, hanging on to things that might work or cutting them out in favor of doing more of what you know works?

If social media hasn’t brought in new business, for example, it could be because you’re doing it wrong and with some training and experience, you’ll get better and you will get lots of news clients, just as many attorneys now do. But our time is limited and if it’s not working for you right now, I’d rather see you put social media aside and do more of what your numbers tell you, unequivocally, has brought in most of your new business last year.

You can go back later and try social media marketing (or whatever) again. I’ve let go of things that weren’t working for me and been successful when I tried them again. But right now, when you’re looking at your plans for the new year, start by doing more of what you know works.

It’s the smartest way to grow your practice.

Filed Under: Marketing Plan Tagged With: 80/20 principle, 80/20 rule, best-way-to-grow-your-law-practice, farmer, fastest-way-to-grow-practice, goal-clipart, grow-law-office-or-cut-back, growing-law-practice, how-to-better-your-law-practice, how-to-grow-a-law-firm, how-to-grow-a-law-practice, how-to-grow-your-law-practice, how-to-make-a-law-practice-grow, Leverage, make-a-law-practice-grow, referral-thank-you-wording, smartest-attorney, thank-you-note-wording-for-referral-lunches, wh-is-my-law-pratice-not-growing, whats-the-best-way-to-grow-your-legal-practice

“It’s the cases I don’t take that make me money”

November 18, 2011 by David M. Ward

“Besides the noble art of getting things done, there is the noble art of leaving things undone. The wisdom of life consists in the elimination of nonessentials.” -Lin Yutang, writer and translator (1895-1976)

Last night, I spoke at an event. One of the topics I talked about was “The 80/20 principle,” aka, “The Pareto Principle,” the idea that a large percentage of our results come from a small percentage of our activities.

Afterwards, I was chatting with a man who works for a bankruptcy attorney. He liked my talk and was telling me about their practice and how busy they were. He quoted something his employer said, but I wasn’t sure I’d heard him correctly so I asked him to repeat it:

“It’s the cases I don’t take that make me money”.

He explained that the attorney was very selective about the cases he accepts. A lot of business comes knocking on his door, but he turns down a large percentage. He turns down the lower-end of the spectrum of clients, the ones who don’t have enough for a retainer, who need installments, price shoppers, etc., in favor of those who can pay his higher than average fees.

A lot of attorneys will take the lower-end clients, figuring that whatever they pay will contribute to overhead. But this attorney understands that those clients would actually cost him money, and not just in the literal sense of “not paying,” but because they would take up a disproportionate amount of time and energy.

And, he doesn’t have the extra overhead he would have if he accepted the lower end clients.

By eliminating as much as eighty percent of the possible client pool, he is able to run a lean and profitable practice. I’m sure he also makes it home for dinner.

Filed Under: Attorneys fees, Career satisfaction, Fees and Billing, Increase your income, Productivity Tagged With: 80/20 principle, attorneys-cases-about-money, besides-the-noble-art-of-getting-things-done, besides-the-noble-art-of-getting-things-done-there-is-the-noble-art-of-leaving-things-undone-the-wisdom-of-life-consists-in-the-elimination-of-nonessentials--lin-yutang, clip-art-8020, clip-art-for-getting-things-done, clip-art-on-getting-it-done, clip-art-thank-you-for-your-referral, getting things done, goal-and-clipart, goal-clip-art, goal-clipart, gtd, lawyers-dont-make-money, pareto principle, productive, productivity-day, productivitydefinition, there-is-an-art-ot-getting-things-done-but-an-art-to-leaving-things-undone, workaholic-clipart

The best way to deal with things you don’t want to do

September 13, 2011 by David M. Ward

InÂ “6 Ways to Tackle Boring or Irritating Tasks,” the author presents common sense tips for handling unpleasant tasks. I use several of these tips myself. For example, when I have to make a call I don’t want to make, instead of thinking about it or putting it off (and thinking about it) I simply grab the phone and dial the number. By doing it as soon as possible I avoid unnecessary anxiety and I get the job done.

It’s like jumping into a cold swimming pool; the more you think about it, the more anxious you become. Dipping your toes in, trying to acclimate yourself to the change in temperature, often makes things worse (and makes you look like a sissy). Jump in and your anxiety and discomfort will soon be behind you (and you’ll look like a stud).

But while these tips are effective, I’ve found that often, the best way to deal with things you don’t want to do is to not do them at all.

You may disagree. You may believe that life is a series of unpleasant tasks and ignoring them means shirking responsibility, self-sabotage, or squandering opportunity. I’ll admit that this is sometimes true, but most of the time, it isn’t. Here’s why:

Not everything must be done. I find that not doing things rarely leads to permanent and serious harm or the loss of significant opportunity. The 80/20 principle tells us that “most things don’t matter” (the “trivial many”) and by not doing them, we free ourselves to focus on the “precious few” that do.Ask yourself, “what’s the worst that could happen if this doesn’t get done?” Most of the time the answer will be “not that much” and you can safely cross it off your list.
Not everything that must be done must be done by you. Just because something needs to be done doesn’t mean you are the one who must do it. Have an employee do it. Or an outside contractor. Or your partner. Whenever possible, do what you are best at and want to do and delegate everything else.
If it must be done and it must be done by you, it doesn’t always have to be done immediately. How many times have you put something on your task list only to find that out later that it no longer needs to be done? The problem worked itself out, someone else took care of it, or it really wasn’t as important as you previously thought. I find that happening to me all the time. Therefore, by not doing some things immediately, by intentionally procrastinating on things I don’t want to do, I safely eliminate many unpleasant tasks.
Not everything that must be done, by you, and immediately, must be done completely. The 80/20 principle also tells us that 80 percent of the value of a project, for example, comes from 20% of the tasks that comprise it. Therefore, when you have to do something you don’t want to do, look for ways to curtail it. Do only what is essential and of high value and avoid the rest.

There will always be unpleasant tasks in our lives we must do. A eulogy for a loved one, confronting a child who is going down the wrong path, or creating a household budget to drastically reduce expenses come to mind. But most tasks don’t fall into that category and can be avoided, delegated, deferred or reduced in scope.

The negative feeling you get when facing an unpleasant task are there for a reason. Your aversion to doing something is your subconscious mind (higher self, God, instincts, etc.) trying to protect you.

If you’re staring down a lion and facing death, don’t ignore your fear, run. Do it immediately and as completely as you can. But if you have a call to make, perhaps to a client who is behind in payment, and you don’t want to do it, you don’t have to “feel the fear and do it anyway”. Feel the fear and have your secretary do it.

Filed Under: Dealing with stress, Personal development, Productivity Tagged With: 80/20 principle, attorney-marketing-blog, attorneys-facebook, clients, david-ward-attorney-marketing, david-ward-marketing, Delegating, delegation, feel the fear and do it anyway, how-to-deal-with-things-you-dont-want, how-to-do-things-you-dont-want-to-do, how-to-get-employees-who-dont-want-to-do-thibgs-to-do-them, overworked, procrastination, quantum-level-marketing-david-ward, tagline-examples, things-i-like-my-secretary-to-do-to-me, things-you-dont-want-to-do, when-you-dont-want-to-deal-with-something, Writing

How to read more and get more out of what you read

September 1, 2011 by David M. Ward

Attorneys read a lot. Still, there’s always more we want to read, if only we had the time.

I was reading an article, yesterday, “7 Â Tips for becoming well-read,” and it has some good tips for reading more, things like starting small (e.g., 15 minutes during lunch) and minimizing distractions. But I didn’t think the tips went far enough so I came up with my own:

Be ruthless in what you select to read. Spend a few minutes with a book candidate and decide whether or not it is worth your time. Read reviews, the book’s cover, excerpts, and ask the person who recommended it. A few minutes spent in this process could save you hours of wasted time.
Skim. You don’t have to read the entire book, cover to cover. The 80/20 principle tells us that 80% of the value of a book is contained in 20% of its content so look for that.
You don’t have to finish it. If you don’t like it, stop reading it. Don’t waste time on books that don’t resonate with you.
Learn to speed read. Why spend five hours reading something you could read in 30 minutes?
Subscribe to book summaries services. Their editors summarize the books for you. For most books, that’s all you’ll need but if you like what you see in the summary, you can put that book on your list to read in its entirety.
Delegate. An employee can read for you, present a summary, and/or bring to your attention those books or articles he thinks you would want to read.

This will allow you to read more by eliminating a lot of marginal choices. You’ll have more time to read the “best of the best”. When you do, here’s how to get more out of what read:

If a book is truly high value, you may want to read it more than once. When I was in high school, I read, “How to Read a Book,” by Mortimer Adler. He presents a process for reading a book several times, each time with a different purpose. I don’t think every book qualifies for several readings but when you find one that does, a second or third reading could have immeasurable value.
Highlight. If you think you might read the book again, highlighting passages will make the second reading faster because you can, if you choose, read only the highlighted passages. (If you don’t think you will read the book again, or use it as a reference, there’s not much point in highlighting). For the record, I use a yellow highlighter on my first read and, usually, a red or blue pen on the second read.
Take notes. You’ll learn more about what you’re reading if you think about the words while you are reading them. Put the ideas in context, ask yourself questions, speculate on the options, and write it all down. It takes longer but you’ll get more value out of what you read. You’ll remember it better, too.
Read (and take notes) as though you had to teach the subject tomorrow. This will force you to zero in on the essence of the material, and master it.

So those are my tips for reading more and getting more out of what you read. By the way, none of this applies to fiction. We read fiction to escape, to learn about exotic places, to solve a mystery, to feel emotions, to have fun, or to learn about the human condition. Not something you want to speed up or delegate.

Filed Under: Leverage, Personal development, Productivity, Time Management Tagged With: 80/20 principle, attorney-marketing-center-blog, book summaries, clients, economy, haiku, how to read a book, how-to-read-a-book-adler, reading, reading-a-book, reading-book, reading-book-images, readingabook, speed reading, tagline-examples, the-attorney-marketing, what-do-you-get-out-from-reading, what-to-get-out-from-reading, woman-reading-book-communicate, Writing

The cure for the overworked and overwhelmed attorney–part two

January 4, 2011 by David M. Ward

So it’s a new year and you’re ready to get back to work. If you’re like most attorneys, you’re excited about all of the plans you’ve made for the future but feeling overwhelmed with everything you have to do. You’ve got “too many”.

Too many articles and blog posts to read (not to mention the books piled up on your shelf (or floor) and in your Kindle or iPad
Too many people to call, letters to write, lunches to attend
Too many projects you’ve been putting off but promised yourself (spouse, partner) you will (finally) do
Too many continuing education seminars you don’t have time for but must do because your compliance group is “due” (guilty)
Too manyÂ commitmentsÂ you’ve made that you know you can’t possibly keep

And let’s not forget your legal work. You know, the stuff that actually gets you paid.

In a previous post, I wrote about how I dramatically cut my work hours (and stress) by delegating. If you’ve ever emptied a closet or a desk drawer, all that empty space feels good but you know it won’t last. It’s only a matter of time before that closet or drawer is once again filled to overflowing. Once you get good at delegating as much as possible and have more time available, it’s the same thing: you find more and more things to fill your time and before you know it, once again, you’re overwhelmed.

I’ve still got “too many”. I have a backlog of hundreds of articles I need to read and I’ve bookmarked so many web sites to visit my head is spinning. I glance at the updates in my Twitter stream and wonder how I could possibly read even a fraction of the tweets that go past me, let alone follow up on the relevant ones, let alone connect with the people who sent them.

I think it’s safe to say we all have “too many”. So how do we avoid being overwhelmed?

First, take a deep breath. Exhale. Once more. Now, repeat after me, “I can’t do it all, I will never get everything done, and that’s okay.”

None of us will ever get it all done. We’ll never read all those articles or complete all those projects. There’s too much and there will always be more and the first thing we need to do is acknowledge that we’ll never get it all done AND THAT’S OKAY.

So relax.

The key to success and a well-lived life Â isn’t doing everything, it’s doing the most important things. It is the 80/20 principle: a few things matter, most everything else doesn’t; the ones that matter are the ones that produce most of your results. Focus on doing a few important things, and don’t worry about the rest.

Success comes from achievement, not from being busy.

About a year ago, I started working with David Byrd, an executive coach, who helped me get clear about what I wanted to accomplish. He taught me the value of being driven by vision–my vision of the future I want to create–instead of being driven by circumstances. The idea is to start with the end in mind and then set goals that are consistent with that vision. In doing so, we cut through the clutter of “too many” possibilities and focus on the most important ones. The system gives me a place to come back to whenever I find myself wandering. WhenI feel overwhelmed or losing clarity about what to do next, I revisit my vision and my goals and I’m back on track.

David Byrd also taught me a system for achieving my goals. I plan each month so that my activities (projects, actions, etc.) move me forward towards my goals. I also plan each day. As a result, I always know what I need to do.

In short, the system helps me putÂ one foot in front of the other and continually move forward towards my destination. I don’t get distracted by all of the side roads or billboards.

So, as we begin a new year, have you chosen your most important goals? Have you put them on paper? And do you have a plan for achieving them?

If you are driven by vision, have goals that support that vision and a plan for achieving them, you’ll have clarity about what to do and what you can let go of. You’ll be empowered, not overwhelmed. And you’ll be excited because you know where you’re going and you have a map that will get you there.

—

On January 19, Mr. Byrd will be conducting a free goal-setting webinar for my subscribers. Please join us.Â Register here for this free webinar and make 2011 your best year ever.

Filed Under: Career satisfaction, Dealing with stress, Increase your income, Law office management, Mentors & Coaches, Productivity Tagged With: americans-overworked-and-overwhelmed-2011, businessforcastclipart, checklist, Delegating, goal-setting, high-contrast-photography-of-race-cars, how-to-deal-with-law-firm-stress, ive-got-too-many-projects, lawyer-and-overwhelmed, lawyer-overworked, lawyers-overworked, overwhelmed-at-work-lawyer, overwhelmed-attorney, overwhelmed-lawyer, overwhelmed-lawyers, overworked-as-an-attorney, overworked-lawyer, tagline-examples, webinar, Writing

When you don’t know what to do, do something.

April 22, 2008 by David M. Ward

There is a true story about a troup of young Hungarian soliders lost in the Alps during training. In abysmal weather, with no food or supplies, they were cut off from their colleagues. After two days of snow and sleet, they were frozen and weak from hunger. They had no idea how to get back to base. They lost the will to live.

Then a miracle happened. Searching for a cigarette in the lining of his tunic, one of the soldiers suddenly found an old map. The soldiers confidently used the map to march through the mountains back to safety.

It was only when they were warm and fed at base camp that they discovered it was a map of the Pyrenees, some 2,000 kilometers away.

This story has two valuable lessons:

It is better to act constructively than to have the right answer and not act.
Each of us has to find our own answer, or adapt someone else’s answer to our own circumstances. The soliders got home safely because they made sense of the map for themselves and related it to their immediate surroundings.

(From, "Living the 80/20 Way," by Richard Koch.)

Filed Under: Productivity Tagged With: when-you-dont-know-what-to-do-do-something

The three things that matter most

March 24, 2008 by David M. Ward

What are the three most important things you do in your career? Sure, you do a lot of things, but chances are, three of them are more important than the rest. We’ve talked about the 80/20 Principle before. These three things are the twenty-percent activities that deliver eighty percent of your results. They are worth identifying. If you can identity them, you can do more of them (and less of those things that aren’t of the three).

What’s more, if there are only three things, you can remember them. You don’t need a list. “These are the three areas I focus on,” you’ll say. “This is where I focus eighty percent of my time.” So what are they? If you could only do three things all day long, what would they be? Don’t think too much about this; you already know the answer.

When I was practicing (personal injury), I would have said that these are my three things:

Marketing
Settling Cases
Managing staff

For me, litigation was not one of the three things that matter(ed) most. We did it, but the practice was a high-volume of smaller cases and litigation was not our primary focus. So, it was these three things that mattered most to my practice. If I was doing one of these three things, I was doing “twenty-percent activity”. Anything else was “eighty-percent activity” (which brings in only twenty percent of the results).

Let’s take things a step further, shall we? Once you have identified your “three things that matter most,” what about identifying the three things that matter most about each of those three things? This allows you to get more specific about how you are spending your time and how you are focusing your energy. You will perform “on purpose” instead of reacting to whatever presents itself. And, if you can recall the three things that matter most, you should also be able to recall the three things about each of those things, too. If they are truly important and you are doing them, they will be second nature to you.

In my case, I would have identified the three things about my three things, like this:

MARKETING

Ads in yellow pages
Network with referral sources
Client referral strategies

SETTLE CASES

Client interviews/evidence collection
Demand package
Negotiation

MANAGE STAFF

Interview/hire
Monitor work flow
Recognize and incentivize

What are your three things? And what are the three things about each of those three? Take the time to identity these crucial items and then focus eighty percent of your time and attention on them. You’ll get more done in less time and you’ll get more results. You’ll earn more and work less.

Filed Under: Increase your income, Productivity Tagged With: 5-things-that-matter-most-at-work, 80-20, 80-20-principle, 80/20 principle, 8020, 8020-free-clip-art, 8020-principle-legal-services, 8020-principles-about-relationships, free-images-of-video-camera, icon-vdeo, icon-video, tagline-examples, things-that-matter-most-at-work-for-job-application, three-things-that-are-matter, three-things-that-matter-at-work, three-things-that-matter-most-at-work, vdo-web, video, video-icon, you-tubefacebook

Successful lawyers are unbalanced

November 7, 2007 by David M. Ward

A few years ago, I didn’t know the difference between leadership and management, and, frankly, I didn’t care. To my way of thinking, these were "corporate" concepts, irrelevant to my needs as a sole practitioner trying to build a law practice.

In my never-ending quest for personal development, I have since learned a great deal about these subjects and now appreciate their value in building a law practice.

If you would like a shortcut to understanding the essence of these subjects, I’d recommend a book by Marcus Buckingham, author of the best sellers, "First, Break All The Rules" and "Now, Discover Your Strengths. Buckingham’s latest is "The One Thing You Need to Know. . . About Great Managing, Great Leading, and Sustained Individual Success." His insights on leadership and management will truly help you become more effective in managing your practice. His conclusions about "sustained individual success" will not only help you attract more clients and increase your income, they will help you enjoy the process.

Success and happiness. Not a bad combination.

I agree with Buckingham’s conclusion that success does not require (and may actually be inhibited by) balance, a conclusion supported by another book I recommended and frequently refer to, "The 80/20 Principle" by Richard Koch. Yes, we want balance between our careers and personal lives, but when it comes to marketing a law practice or building a career, I have always counseled an unbalanced (focused) approach: specialization, niche marketing, and maximizing strengths while making weaknesses irrelevant.

So when people say I’m unbalanced, that’s a good thing.

Filed Under: Book review, Law office management, Marketing legal services, Personal development, Specializing Tagged With: lawyers-personal-development

What is your highest and best use?

November 5, 2007 by David M. Ward

As a lawyer, you do a lot of activities throughout the week, but what do you do best?

Take the time to answer this question because if you want to have the maximum success of which you are capable, what you do best is what you should do most of the time.

You may be good at a lot of things but you will achieve
more by becoming BRILLIANT at just a few.

Society pays top dollar for mastery. Your strategy should be to focus on your strengths and make them even stronger. Too often, we focus on improving our weaknesses. We realize that we don’t know how to build a web site, for example, and so we set out to learn. But learning how to build a web site is not going to make us more valuable to our clients. It is not the “highest and best use” of our time.

The 80/20 princple says that the majority of our results, probably in the neighborhood of 80%, come from a minority of our efforts (probably 20%). Conversely, only 20% of our results are derived from 80% of our activities. We can multiply our effectiveness, therefore, by spending more time on those high payoff, 20% activities that bring 80% of our results.

What are your 20% activities? What do you do best? What is it that if you could only do more of, it would add tremendous value to your practice? What brings you more income? What makes you more valuable to your clients? More attractive to referral sources?

When I set out to answer this question myself, I did an exercise that was a real eye-opener.The idea is to track all of your activities for a full week (in a spiral notebook or legal pad), noting everything you do, minute by minute, from the time you wake up to the time you go to bed. (If you want, you can limit this exercise to just your work hours, but if you’re like me, the line between work time and personal time is usually blurry.) Record everything you do, even if it takes just a minute or two, and how much time you spend doing it.

When you’re done, you should have a list of at least 50 activities you do throughout the week and the amount of time spent on each. Now, go through the list and put a star next to those things you believe are high payoff activities. They produce work product, generate revenue, or otherwise have a material role in your job description.

Now comes the hard part. Look again at the starred list and identify the THREE most important activities you do, the ones that give you the very highest payoff. What three things constitue "20% activities that produce 80% of results"? What if you come up with five things, or seven, or ten? Keep looking. Most of the time, you will be able to zero in on three things that contribute 80% of your results. You may have to combine items or describe them differently, but keep looking until you find those three.

The next step is to add up the amount of time you spent on these three activities. Based on the number of hours you work each week, what percentage of your time was spent on these three activities?

If you’re like most people, you probably spend less than 30% of your time on high payoff activities. Imagine what would happen if you could double the time you spend on those activities.

YOUR RESULTS WOULD GO UP 160%!

That’s because you would be investing two blocks of time on activities that now produce 80% of your results, so you would get two blocks of 80% results. A corollary is that by spending more time on high payoff activities, you would get more accomplished in less time. If you are satisfied with the results you are getting but want to cut your work hours, this is the way.

Where do you find the time to do more high payoff activities? By eliminating as much of your low payoff activities as possible. Look at your list. What can you eliminate completely? Be ruthless. Remember, every hour of time you reclaim will be worth much more than an hour to you when you reinvest it in high payoff activities.

Next, for anything on the list that cannot be eliminated completely, look for ways to delegate or outsource them.

Your objective is to do only what you do best and delegate the rest.

You will find a number of activities that aren’t high payoff (your list of three) but cannot be eliminated or delegated. You are the one who must do them. First ask, "Is that really true?" We often fool ourselves into believing that nobody can do what we do, when in fact, there are many who can do it as well, or almost as well, and sometimes, better! Again, if it’s not one of your high payoff activities, find someone else to do it.

For those things that you and only you can do do, look for ways to do them less often. Do you really have to do them every week? And, what can you do more quickly? Are their any tools you could use? Can you get some training on how to do it more efficiently?

Finally, give yourself permission to relinquish perfectionism. Some things just aren’t as important as others, and while we still need to do them, "good enough" might just be good enough.

Filed Under: Productivity, Time Management Tagged With: time-management-attorneys-marketing