Mastering the 80/20 Rule to Increase Your Marketing Performance and Profits

Feb. 27, 2013 - PRLog -- Many business owners are familiar what is called the "80/20 Rule," which refers to the principle that 80% of results and productivity are derived from 20% of the time and effort. If this is true, then what about the other 80% of time and effort spent?

Unfortunately the majority of this is wasted, in terms of both time and money – a phenomenon that is so common it has been the subject of a great deal of satire. In the film Office Space, for example, the main character tells the corporate consultants who are interviewing him about his daily performance that on any given week, he probably only does about 15 minutes of real, actual work.

Although the butt of the joke in that film is corporate America at large, it's point is informative. Most entrepreneurs spend far too much time working on tasks that could be much more effectively delegated or outsourced, dealing with "crisis situations" (often more perceived than real), or responding to email.

Often these habits are born out of a mindset of responsiveness, but when productivity is actually measured in terms of hours and money it is easy to prove that answering each email or dealing with each inquiry as it comes is actually a handicap. At the end of the day, too many business people have spend so much time dealing with the minutiae that they have accomplished little or nothing that will actually help grow their business.

Let's say you have valued your professional time at $50 per hour. How many tasks do you repeatedly handle that someone else could be paid $10-$15 per hour, for instance, to accomplish? Every hour you are spending on these tasks is time that could be better spent on market research, content creation and strategic planning. It is about making your time as proactive as possible, rather than reactive.

Below are some simple strategies for reallocating your time and efforts for peak productivity.

1. Block Your Time

Work in dedicated time blocks and do not allow any distractions. Close your email, social media accounts, and silence or turn off your phone, even if only for a half hour or an hour at a time. By increasing your focused effort you can dramatically increase how much you can accomplish within a given time period. Think of your work time blocks as appointments; you would not stand up an important business meeting with someone else, so give the same respect to an appointment with yourself.

2. What is The Most Direct Route to Profitability

It’s extremely common for entrepreneurs to stray from their marketing and professional or operational objectives. Maintaining clear focus is key to growth. Each day you should start with the goal in mind: what is the most direct way for me to meet my goals and become profitable today? Prioritize your action steps accordingly; beginning with the most important and then working down the list from there.

3. Focus on Systems Creation and Automation

What in your business is simply "in your head"? If it's only in your head, it cannot be trained and replicated, which again equates to squandered time and effort. Spend time each day or at minimum each week with a focus on systems creation. Anything that can be automated and/or systematized in your business will much more effectively leverage your energies.

Finally,

Look To Provide Greater Value

It is always important to realize that what makes your business run is your clientele. Your patience, your customers etc. Therefore, time spent working on ways to test and enhance the value of what you provide them is very worthwhile. Look for new ways to nurture your relationships with existing clients as well as ways for increasing your value proposition to new and prospective clients and you are sure to see an increase in your bottom line.

By dedicating yourself to shifting the 80/20 ratio you will begin to develop the habits of the top level entrepreneurs, ultimately making yourself more successful but also allowing yourself greater professional satisfaction and time freedom.