Hungry people like to know where they stand. Hungry people aren’t afraid of constructive criticism. Hungry people stay up late studying their craft. Hungry people are focused on results. Hungry people follow up. Hungry people ask questions. Hungry people don’t like to sit around and wait for things to get better, they step up and step in to help make things happen! Are you Hungry?
The excerpt below is from the article: Time Management: Make More Money With the 80/20 Principle. The concept of the 80/20 rule is pretty simple (20% of your efforts will bring you 80% of your results and vice versa), but applying it sometimes can be difficult.
Scott and I have found when we put more effort into staying behind the computer (in general) and being there for the team will bring us more results; those results being more deals, more balance, more peace of mind.
On the flip side, we’ve found that when I have to be out on the road for more than 2 hours per day, then things start to fall apart. Fact of the matter is that we’re more productive if we’re both behind the computer for 4 hours without me having to go out on appointments, opposed to 6 hours behind the computer and 4 hours on the road.
This is important to know because this impacts YOU directly. Our goal is to help you reach your goals, we ask that one of your goals is to help keep me off the road and behind the computer. How can you make this happen? It starts by asking a few questions….
What can I do to add more value to the team?
What training material can I go over that will help me with my task.
How would you rate my performance?
What areas should I improve in?
What should I be doing today that’s going to help me get a deal under contract next week.
If you don’t believe the 80/20 rule to be true, take a look at how many people we have on the team, and then take a look at how many people have responded to the daily messages on Team Woods Communication Page like we requested. Is 100% of the team responding? Hmmmm?
~Matthew
Apply the 80/20 Rule
A variation of the Pareto Principle, or the 80/20 rule, says that 80 percent of your results are created by 20 percent of your efforts. Apply this principle to your daily tasks by determining which 20 percent contributes to your success and your bottom line. Take these concrete steps:
Know your hourly worth.
Determine which of your activities and contacts produce the most impact.
Determine what is essential and nonessential; what you can delegate and what you can’t.
Take control and prioritize what you do by first focusing on the highest payoff tasks.
An important step in determining your worth is to examine last year’s numbers to see where your business came from. Then budget your time and money to what is already working. For every job that you can delegate, you are buying back an hour of your time. Spend that hour on higher-productivity activities that will bring in more sales.