Tag Archives: value

Don’t do that, do this!

Sometimes we forget the simple ideas which we know work and can make a real difference! So it is good to be reminded from time to time.

I recently attended a  Business Scene talk by Lara Morgan who sold her business Pacific Direct  for £20 million a couple of years back. In the course of her candid, energetic and insightful presentation, Lara commented that the use of Pareto’s Law [80:20] rule had been instrumental in her approach, allowing her to focus on what really mattered in her business.

I’ve known about the rule for many years but Lara’s comments got me thinking and reminded me of something I’d worked out some time ago!

If 80% of the value of what you do comes from 20% of what you do then:

The time spent on your most valuable efforts is worth 16 times that spent on the least valuable activities!

How does that change your attitude to:

  • Delegation?
  • Developing your team?
  • Focusing your efforts?
  • Outsourcing?

So what are you going to cut out or pass on to others next week?