In our society, there has been this lasting idea that if you work hard it would equate to better results. Work hard and you’ll get rich. Work hard and you’ll get that promotion you’ve been dreaming of. Work hard and you’ll achieve your dreams.
We have to admit that there is a certain truth in that concept, because you do need to make an effort if you want to get what you want, be it that promotion you have been eyeing… more money… your dreams… you get the picture. You can’t of course expect all those things to fall into your lap without doing anything at all. No one is that lucky.
The only problem with the concept of “work hard = more results” is that it does not always work.
Say you have a boulder in your path and no matter how hard you try to push it, it simply won’t budge. You made an effort, yes, but it did not produce any results, because the boulder is bigger, it’s heavier and the sheer mass of it overrules your strength. You could keep on trying and, yes, maybe you may be able to move it a few centimeters after pushing it for so long… but the fact remains that no matter how you work hard to push the boulder, you are not getting the most results. In fact, you may not even be producing any results at all!
But what if you start putting your mind to it and you get more people to help you push the boulder out of the path? Will that produce results? Yes, it can. By sharing the effort with more people, you may be able to push the boulder out of the path without straining yourself too much.
Ultimately, the lesson is that if you work smart, you can produce results… even better results than if you had just worked harder.
An Italian economist named Vilfredo Pareto once discovered that 20% of your activities will account for 80% of your results. This applies to business as well. For example, 20% of a company’s customers are the ones generating 80% of their sales.
Think about it. This is why most sales companies have a VIP customer program. They recognize that this concept is true.
Even Robert Kiyosaki, the writer and founder of the “Rich Dad, Poor Dad” series of books, believes in this. He once said that a successful business is one that functions even without your physical presence or efforts. This can be achieved by delegating various functions in the company or business to key people so that all you need to do is sit back and relax while the money just keeps pouring in.
Outsourcing was somewhat brought about by this principle. Major companies outsource entire departments to other companies or providers. Why? Money
- Most companies outsource their customer service departments to offshore contact centers, because this allows them to save more money. By lessening the expense caused by keeping an in-house customer service department, they allow their products to remain cost-friendly, because they do not need to increase the price of their products just to break even with their costs.
- Contrary to what most people would say, the delegation of tasks or outsourcing in general does not mean that you are just lazy or would just like to escape the responsibility for that task. By delegating the task to someone who knows more than you do on the subject matter allows for better results.
- Outsourcing allows you to focus your time and effort on more important things – like the further improvement and expansion of your business or building up your product/s or simply more time to do what you enjoy doing – vacations, more quality family time.
You are the CEO of your business – so, it’s about time you went ahead and owned that truth! It shouldn’t be you working for your business…it should be your business that is working for you.
You can achieve this by applying the Pareto Principle or what is better referred to as the “Work Smarter, not harder” principle. You cannot grow your small business, if you are too consumed with the small things that are needed to keep it going. You have to focus on bigger things if you want to get bigger results.
Grab a piece of paper and start writing down the tasks that make up your day. Once you have that list, you need to separate the following things:
- The things that take up most of your time
- The things that are needed to make your business grow
- The things that you want to do
Once you have made your lists, you should start identifying if there tasks that others can do for you? If yes, then, go ahead and delegate. If not, then, is this something that you can train someone on? If the answer is yes, then, that is something that you can definitely delegate.
The biggest obstacle between you and growth is really yourself. While making the list, there are definitely some tasks that you will not be able to let go of and most of the time the reason behind it is that you simply don’t want to trust that task with anyone else. Ultimately, these hard-to-let-go tasks will pile up until there are just so many things that you cannot delegate anymore. This is where you really have to start weighing the importance of the tasks and start focusing on the 20% that are more important.
MyOutDesk, LLC has been using the Pareto Principle since 2008 – without even being fully aware that we are doing it! This has allowed us to start focusing on things that for us, matter the most… Click here to read Jason Ramsey’s, one of the owners of MyOutDesk, take on this.
But the important thing is that we want to share it with more people. We want more realtors and business owners like us to be able to finally reap the benefits from their business and start living their lives the way they want to. We want them to have what we have using real estate virtual assistants.
Winston Churchill actually expresses how we feel perfectly in one of his famous quotes:
“We make a living by what we get. We make a life by what we give.”