Are you heading to Toledo?

Last week's blog was all about some of the Low Value uses of time we often find ourselves doing out of habit, guilt, or just not being aware of another way. It's important to keep this list top of mind so you continue to work on the high value/high return tasks first.

But there's another list; the list of the top 10 Valuable ways to spend your time. In his book, The 80/20 Principle:  The Secrets of Achieving more with Less, Richard Koch presents a list of 10 focus areas where businesses have historically used the 80/20 principle to generate the most money with the least assets and effort.

Top 10 Business Applications of the 80/20 Principle

  1. Strategy
  2. Quality 
  3. Cost Reduction and Service Improvement 
  4. Marketing
  5. Selling 
  6. Information Technology
  7. Decision Making and Analysis
  8. Inventory Management
  9. Project Management
  10. Negotiation

It's probably no surprise that Strategy is first on the list.

Strategy is loosely defined as having a plan and directing your operations toward the plan.  Or knowing where you want to go and taking the steps to get there.  

Without a vision for your business you might end up somewhere you don't want to be. 

When you first started your business, you probably spent time dreaming of the impact you were going to make, the product or service that was going to change the world in some small (or big) way, and the freedom you would have to do what you want with your time.

And maybe, somewhere along the way, you lost sight of that vision because other things  got in your way. (see list of low value uses of your time!) Things that you didn't expect or tied you up from doing the important work.

If you can identify with feeling like you lost your vision, strategy, or plan for your business, it's time to tap back into the passion you had when you started your business.

Remember the dreams -- what it would look like, the clients you'd have, the financial support your business would provide?  It's time to tap back into those images and start moving forward again.

Take time each morning to meditate or visualize what your business can look like.  Think about the people working with you. Think about your clients. Think about how much you love what you do.  

Having a strategy, creating a plan and referring to it often is one of the small steps you can take to get big results.  

One of things I recently read the other day is "Don't buy a bus ticket to Toledo if you don't want to go to Toledo."  

Knowing what you want is the first step to getting what you want.

If you need help crystalizing your strategy or creating your plan, SCHEDULE A CALL with me and we'll create a roadmap to keep you from getting on a bus to Toledo.

And I recommend this article on journaling by Benjamin Hardy if you're trying to convince yourself to start journaling or being more consistent in your writing practice.  

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