Pareto’s principle
Being a Perfectionist…?
“Petra, isn’t this the most organized inbox you’ve ever seen?!” One of my clients, a man in his prime and in a blue shirt looks expectantly at me while showing me his e-mail structure. He looks like a professor with his eye wear and hair that refuses to look neat. I gaze at his long list of folders and I am a bit unsure if he is serious or not.
You’ve probably been told that it is important to deliver your tasks with high quality. How can you know when delivering quality and performing a task well turns into being a perfectionist and overdoing the job? Is perfectionist behaviour a time thief? Both to yourself and others?
In 1906, Italian economist Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country, observing that twenty percent of the people owned eighty percent of the wealth. In the late 1940s, Dr. Joseph M. Juran inaccurately attributed the 80/20 Rule to Pareto, calling it Pareto’s Principle. While it may be misnamed, Pareto’s Principle or Pareto’s Law as it is sometimes called, can be a very effective tool to help you manage your work effectively.
The 80/20 Rule means that in anything a few (20 percent) are vital and many(80 percent) are trivial. In Juran’s initial work he identified 20 percent of the defects causing 80 percent of the problems. Project Managers know that 20 percent of the work (the first 10 percent and the last 10 percent) consume 80 percent of your time and resources.
So why is this useful?
When you consume 80% of your time to deliver something that just gives you 20% profit you would be wise to prioritize differently and instead focus on more profitable tasks or clients.
“I have dedicated many hours to organize this.” Says the blond man proudly pointing towards his e-mail folders. He is now talking with enormous pride waving his hands and describing his folder structure into detail. I listen patiently trying desperately to hold back a smile. But nothing escapes him . A bit puzzled he mumbles “Are you smiling? Don’t you think this is super organized?”
Reassuringly I complement him saying I understand he has done an enormous work on this and point out gently that perhaps he would rather use numbers to indicate the order of the folders and maybe describe what it is actually in them, rather than the degree of importance and urgency? Using a task list for all your to do’s combined with your calendar is easier when you need to prioritize your many tasks.
I think sometimes we spend an enormous amount of time trying to create the perfect structure or the perfect planning, but ultimately it’s not just about doing things right. We must also do the right things. Sorting your e-mails into bits and pieces into too many folders or giving a task your too long attention might cost you more than it’s worth?
If it is true that 20% of your clients account for 80% of your result, focus on those customers. Focus on what adds most value in your career and in your life.
Now I need to do my weekly planning and prioritize next coming weeks. I then look forward to dedicating my time to my family who adds the most value to my life.
As Vilfred Pareto might have said …
“Buon weekend a tutti”
Petra Brask
“Have no fear of perfection. You’ll never reach it.”
Salvador Dali (1904-1989)
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