The Pareto Principle

Another important strategic planning concept is the 80/20 Rule, the "Pareto Principle," which Italian economist Vilfredo Pareto wrote about in 1895 in Switzerland.This rule says that 80 percent of your results will come from 20 percent of your activities. If you make a list of 10 tasks that you have to do in the coming day, two of those items will be worth more than the other eight items put together.

But the 20 percent of activities that account for most of the value in your work are invariably the most difficult and challenging tasks. The 80 percent of activities that account for only 20 percent of your results are usually fun and easy. Being human, you have a natural tendency to do the easy things, even though they are not particularly valuable or important. To get the most done and the greatest results from every minute invested, you must resist the temptation to clear up small things first. You must discipline yourself to keep your energies focused on the one or two things that you can do that are more important and valuable than anything else.

Business Brain

Business Brain

Among the hardest transitions for individuals is to move from the employee to the entrepreneur mentality. The idea of getting on your own, getting your own business is fantastic. It's the desire of a lot of individuals to leave their jobs and get to be successful business owners.

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