The How To’s Of Time Management & Life Efficiency
What is Time Efficiency and How to Achieve it
In the early 1900s when Ivy Lee advised the managers of Bethlehem Steel to list their top priorities and to then work on tasks in that prioritized order, not proceeding until a task was completed, he was rewarded handsomely.
Charles M. Schwab, who was the head of the company at the time, paid Lee $25,000 because of the power of his advice that positively effected the performance of his managers and of his entire company.
Personally, I have found that the discipline of writing a prioritized list of the six major things that I need to do for the next day, at the end of each day numbered 1,2,3,4,5,6, has helped me to work with greater purpose, direction and efficiency.
Time management is really about life efficiency.
And when thinking about life efficiency I am drawn to the Pareto Principle. Also known as the 80-20 rule, the Italian economist Vilfredo Pareto observed in 1906 that 80% of the land in Italy was owned by 20% of the population. He even developed the principle further by observing that 20% of the pea pods in his garden contained 80% of the peas.
It is also a common rule of thumb in business that 80% of sales come from 20% of your clients. Roughly 80% of your prioritized efforts come from 20% of your activities.
The Pareto Principle was a prominent part of the 2007 bestseller ‘ The 4-Hour Workweek’ by Tim Ferris. Ferris recommended that we should focus our attention on the 20% of our activities that contribute to 80% of our income. In addition, he also recommended that we should fire 20% of customers who take up the majority of our time and cause the most trouble.
Time Management is so much about living a life that is efficient – concentrating on what is important; what produces, and discarding the rest.
Time Management = Life Efficiency.
So make every second count. For you and I only have time for one life.
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