We all know the importance of focus; however I’d like to take the time to share my perspective. Focus is a resource, in a world where everything is fighting for our attention. Consider the mobile device that’s probably with you right now, maybe you’re even reading from it. On a 24/7 basis, you’re being bombarded by emails, text messages, notifications from dozens or hundreds of apps. You may even be getting calls.
And those are just the things on your phone fighting for your attention. Then you have computers, televisions, video games—everywhere you go there’s media. The question we must ask, is how do we get the outcomes we want, and achieve what we want to achieve with all these things going on? Learning to focus is the key. It’s a resource, and it’s a skill you can develop.
In my personal life, one of the most important tools for focus I have is the 80/20 rule, or Pareto’s law. The concept is that 20% of what you put into something will result in 80% of the outcomes. You can apply this to any area of your life if you think about it. If you’re in business, you’re probably receiving about 80% of your income from 20% of your customers or clients. 20% of your sales force is going to bring in 80% of your business.
If you break down Pareto’s Law, you can leverage it in every aspect of your life. If you love numbers and data, you’ll love the next step. By deep diving into the components of what you do, you can analyze what’s really moving the needle and generating the bulk of your results. To get deep, you can break that down further, and look at the 20% of your 20%. In other words, the 4% of your actions that help you generate the best results.
The 80/20 Rule and Focus
When it comes to your focus, the first step is to document how you spend your time. It’s an extremely painful exercise to take a candid look at your habits, but I guarantee that it will pay off big-time. I recommend tracking your activities during “business hours” for a week, as well as what you’re doing to build wealth. You’ll be shocked, at first, but you’ll also be able to identify the 20% of your time spent on results.
Then, you break that down to the 4%. Out of your actions that yield results, which ones give you the best results? In other words, your 4% activities. This gives you a baseline to better fill your days. If you know what activities really move the needle, how can you do them more efficiently or more often?
This exercise helps you move forward with a specific intention, so you can really begin to attack your days and weeks with focus.
What About the 96%?
The 96%, the activities that you do that aren’t giving you results, are tasks you need to delegate. Fortunately, there are dozens of ways to do that. You can start by hiring a virtual assistant who can tackle logistical tasks for you. Outside companies, and independent contractors or freelancers can also help you move tasks off your plate.
I did this process myself, so that I could really focus on the big stuff and get help with the rest. I hired a virtual assistant and executive assistant. Then I listed standard operating procedures and things that could be automated, and made it happen. This was another painful process in the beginning; however, it has freed up my time immeasurably.
Your Zone of Genius
You’re not meant to do everything. Maybe when you start out, however you should delegate tasks as soon as possible. The sooner you can take things you don’t enjoy or get few results from, the sooner you can work in your zone of genius. This is your zone of unique abilities—the tasks you love to do and excel at. Once you operate within this zone, you can achieve incredible things.
Don’t fear delegation and automation, these are the things that will set you free once you have them established. You’ll find greater focus and likely a lot more joy in your day-to-day life. I hope that this concept can help you and leaves you with some actionable items to move forward in your business.
The power of focus is unmatched, my friend. What you focus on improves and expands, and the return on your focus can be exponential. Stay on one path and watch what unfolds for you.
And if you’re interested in learning more about Cashflow Investing, I’ve compiled 21 Basic Cashflow Investing Strategies. For more than two decades I’ve studied millionaires and billionaires, and interviewed over 500 successful investors and wealth experts. You can grab the 21 Cashflow Investing Secrets here.
Live your Freedom, Live Your Legacy, On Your Own Terms,
M.C. Laubscher is a husband, dad, podcaster & Cashflow Specialist. He helps business owners and investors create, recover, warehouse & multiply cashflow. You can learn more about exclusive cash flow strategies in M.C.’s new video series at https://www.yourownbankingsystem.com/
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