This is an excellent resource – also an easy-read. I recommend this book to everyone. There is a page in the book-that talks about a key rule on Success.
The 80/20 rule. – It is built on the Pareto Principle, however with an unique twist
This rule talks about a direct relationship between efforts and results.
Whenever you start a new project/venture- A new business, new sales career, learning a new skill, a new workout program,etc; you will notice that-initially you tend to put on a lot of effort for little or no results. The results are minimal in the beginning.(Isn’t this frustrating?)
This happens all the time.
Let’s take an example of someone starting a New Sales Career.Whenever a Sales Rookie gets started in a new job, he/she is advised to do one thing- Pick up the phone and call as many people as you can.
Initially the newbie/rookie tends to not see any results in the first 90 days (or sometimes longer).The sad part is many rookies quit in the first 90 days.
Let’s take the scenario of Small Businesses/ Entrepreneurship. According to statistics 80% of new businesses fail in the first 18 months.
How about Health & Fitness. Here is an article that talks about how only 6% of people succeed when they start an diet or exercise program.
This is an excerpt from Napolean Hill’s Think and Grow Rich
“Before success comes in any man’s life, he is sure to meet with much temporary defeat, and perhaps, some failure. When defeat overtakes a man, the easiest and the most logical thing to do is to quit. That is exactly what the majority of men do”
When you start in sales-you will notice that in the first 3-6 months – you won’t have much luck or success. You call & call, prospect & prospect – but not many people seem interested in what you have to offer. You will notice that you are doing lots of work but not much result.
Do you quit or slow down now?
Oh please don’t..
The first part of the 80/20 rule – for the first 80% of the efforts you will only get 20% of the results. The second part of the 80/20 rule. For the last 20% of your efforts you will notice the 80% of your results.
In the sales world – you will start to see the fruits of your labour.Prospects will become customers. Money starts pouring in.
The same applies to your small business.Initially you hustle, and then the customers keep pouring in.It is not easy, but it is worth the effort in the end.
Napoleon Hill from Think and Grow Rich “When riches begin to come they come so quickly, in such great abundance, than one wonders where they have been hiding during all these years “
Bottom-line – keep on keeping on…
Keep moving forward..
When the going gets tough- the tough get going.
Next time you have thoughts of taking a break or quitting – think about the 80/20 rule.
You are not getting results because you haven’t put the necessary time and effort yet.Put more efforts and the results will follow.Give it time, give it effort and success will come.
I guarantee you that the 80-20 rule applies to every single aspect of your life – Sales, Business, Fitness, money, new skills, new language, etc.
Let’s say you begin an exercise program – initially you put on all the efforts you don’t notice any changes in your physique or energy levels. But over the course of the next few weeks or months, you notice changes in your energy level, you start losing weight, etc.
I started long-distance running few years ago. At that time, I couldn’t run a few blocks (I am not kidding). I enrolled in the Learn to Run program at The Running Room. I still remember my 3rd week of running – we were supposed to run for 3 minutes and walk for 1 minute. It was a warm Spring Sunday morning in April- It was painful and I was exhausted. But I persisted- I kept going to the clinic/class and ran 4 times a week -within a year I ran my first marathon. I ran my second marathon a year later. My fitness level improved significantly. In retrospect, it was the initial struggles of running that has made me a stronger athlete. Now of course, I have pivoted to other exercise programs – but those few months of hard work paved a strong foundation for a healthy lifestyle.
I had learnt a valuable lesson – I will be applying the 80-20 rule in all the avenues of my life for my future growth.
In summary, the 80/20 rule of personal development states.
” There is a direct relationship between Efforts and Results. For the first 80% of your efforts you will only get 20% of results. But for the last 20% of your efforts you WILL get 80% of the results”.
Where do you think you can use the 80/20 Rule for your benefit?