Extreme Pareto

Estimated reading time: 2 minutes, 41 seconds.

EntreGurus-Book-The ONE Thing-Gary Keller Jay PapasanTODAY’S IDEA: Extreme Pareto

— From The ONE Thing: The surprisingly simple truth behind extraordinary results by Gary Keller with Jay Papasan (watch the book trailer)

The to-do list is a magnificent tool and companion to our busy lives. Yet since the list can also serve as a catchall for minor, unimportant things, we feel the urge to get them done and cross them off—just because they were on our list. This leads to us being busy, but not necessarily productive: “busyness rarely takes care of business.”

But if we all have the same 24 hours in a day, how is it that some people seem to achieve much and get a lot of things done? What do they do differently? What do they know that we don’t? “Achievers always work from a clear sense of priority.”

Enter the Pareto Principle. You may be familiar with this already: it’s the 80/20 rule. It states that, “a minority of causes, inputs, or effort [the 20 percent] usually lead to a majority of the results, outputs or rewards [the 80 percent].”

What this means is that 80 percent of our results will come from 20 percent of our focused efforts. Thus, “a to-do list becomes a success list when you apply Pareto’s Principle to it.” The idea is simple, take your to-do list and cull it down to the 20 percent of things that will yield the biggest results.

But why stop there? Gary Keller, author of The ONE Thing, encourages us to practice “Extreme Pareto” to get down to the one item on our to-do list that is the absolutely most essential to our success. He says, “Keep going. You can actually take 20 percent of the 20 percent of the 20 percent and continue until you get to the single most important thing! No matter the task, mission or goal. Big or small. Start with as large a list as you want, but develop the mindset that you will whittle your way from there to the critical few and not stop until you end with the essential ONE. The imperative ONE. The ONE Thing.

“Sometimes it’s the first thing you do. Sometimes it’s the only thing you do. Regardless, doing the most important thing is always the most important thing.”

ACTION

TODAY: Take a look at your to-do list. Apply the Pareto Principle and focus on narrowing it down to the 20 percent of items that you need to get done. Then go extreme, keep applying the Pareto Principle to narrow it down, 20-percent-at-a-time, until you reach your ONE thing. Get that done before anything else, even if it’s the only thing you do all day.

FUTURE: Make a habit of applying Extreme Pareto when planning the week ahead of you by asking: “What’s the ONE Thing you can do this week such that by doing it everything else would be easier or unnecessary?” Do that ONE Thing, and once you are done, ask again… and repeat. You’ll see that by focusing on the vital few you’ll be able to move forward more rapidly than if you spend your time and attention in the trivial many.

Know someone who’s spread too thin and could benefit from Extreme Pareto? Please share this post with that person via email, Facebook or Twitter, thank you!

Networking for non-networkers

Estimated reading time: 4 minutes, 22 seconds.

EntreGurus-Book-Work It-Carrie KerpenTODAY’S IDEA: Networking for non-networkers

– From Work It: Secrets for Success from the Boldest Women in Business by Carrie Kerpen

Why does networking evoke such dread? Probably because we picture ourselves in a room full of strangers, eating chicken satay from a stick, and talking about the weather to pass time. Yes, that scenario is absolutely dreadful.

But it doesn’t have to be.

Carrie Kerpen in her book Work It says, “There are different ways to network. Ditch the perception that it’s clunky or awkward and do it in a way that works for you.”

Further, Carrie shares some networking tips from “non-networkers” who have been successful at growing their network in a meaningful and beneficial way for all involved. What these non-networkers have in common is that they were all intentional in terms of the groups that they wanted to belong to or the contacts they wanted to target. However, this involves a disciplined approach: “don’t view networking as a nice-to-have,” but as an indispensable part of your professional career.

“Networking shouldn’t be something you do when you have extra time. It’s something that you have to prioritize.”

If you wait to start building a network when you need one, it’s too late, because relationships take time to nurture and grow. Plan now and plant the seeds for tomorrow.

While online and social media networking are wonderful tools, nothing substitutes for in-person networking when you can. The book mentions a research study on firefighters by Cornell University that showed “that firemen who eat meals together are better at their jobs. It turns out, eating together allowed for more conversation, which led to stronger connections, which led to greater team performance.”

A suggestion then, is to take your networking offline with those connections that you can nurture in person. If time is an issue (as it is for all of us), “dedicate two hours—just two hours in your week—to connecting with people offline. Have coffee, have a chat, go back to the watercooler. You’ll be amazed how much more connected your network actually becomes—your relationships will be stronger, as will your communication skills.”

One last thing that Carrie mentions—which is brilliant—is to invite people at a high level to connect with you (on the basis that they are someone whom you admire and respect, needless to say). Nowadays all your professional crushes have public profiles and are accessible somehow. “When reaching out to someone at a very high level, you want to establish a sincere personal connection and accept that it may or may not work out. By expecting nothing in return, you avoid disappointment and often end up being pleasantly surprised.”

On this last one, I can vouch for its effectiveness and for the most pleasant surprises it brings. Years ago I wanted to attend a conference with a steep high price that I couldn’t afford. I reached out to the organizer, asked if I could volunteer in exchange for a ticket, and not only did I get the ticket and enjoyed the conference, but also by virtue of volunteering I became friends with the conference organizer and his wonderful team, and they invited me back for the following year’s conference. Another time, I learned that one of my favorite thought leaders was going to be speaking at an event. I reached out to him, told him that I was going to attend the event and offered to drive him to the airport afterwards. He agreed. We had a wonderful conversation in the car on the way to the airport, and I became friends with someone whom I deeply admire and respect to this date.

If I could do it, you can too! Networking is best done in a way that fits you and in an environment where you can bring value to your new contacts. That way it becomes a win-win and forges real bonds.

ACTION

TODAY: Think of a goal you want to achieve. Make a list of the people and groups that can help you achieve it. Think of ways you can become involved. Think of ways in which you can offer help. Think of ways you can create value for them. Make an honest assessment of the time that you can devote to this endeavor. Once you’ve thought this through, then reach out to them. Remember that you’ll get out of it as much as you put into it, so be intentional with your time and your involvement, and make it worth your and their while.

BONUS ACTION FOR TODAY: Connect with me via emailLinkedIn, Facebook or Twitter! I would really love to connect with you, or simply touch base and catch up if we are already connected. I like to think of myself as a resource and would love to provide book recommendations (of course!), or ideas and resources to help you reach your goals. Really looking forward! 🙂

FUTURE: Repeat today’s action for the rest of your goals. Budget your time according to what’s most important to you, making time for both online and offline networking. Schedule the time for networking activities in your calendar and honor those activities.

P.S. – Another tip for great networking is to share valuable content that you think might be of interest to someone. How about sharing this post with friends and colleagues? You can do so via email, Facebook or Twitter. Thank you!

Exchange an AND for a BUT to open up possibilities

Estimated reading time: 3 minutes, 6 seconds.

EntreGurus-Book-The Art of Possibility- Rosamund Stone Zander and Benjamin ZanderTODAY’S IDEA: Exchange an AND for a BUT to open up possibilities

— From The Art of Possibility: Transforming Professional and Personal Life, by Rozamund Stone Zander and Benjamin Zander.

Let’s assume that you are trying to escape the cold winter and you take a vacation to a nice, warm beach. But once you get there, instead of sunshine, you have non-stop rain. Ugh! What to do?

Whether professionally or personally, when things don’t go as planned, we tend to react either with “hopeless resignation” or “spluttering resistance,” or we get upset somewhere in between that spectrum. Roz and Benjamin Zander suggest, instead, developing the practice of “being present to the way things are, including our feelings about the way things are.”

But what exactly does that mean?

“Being present to the way things are is not the same as accepting things as they are” with utmost resignation and hopelessness. Neither does it mean “you should drown out your negative feelings or pretend you like something you really can’t stand.” Much less that “you should work to achieve some ‘higher plane of existence’ so you can ‘transcend negativity’.”

“It simply means being present without resistance: being present to what is happening and present to your reactions, no matter how intense. And to get this done, merely exchanging an and for a but may do the trick.” 

Look at these two ways of seeing the same thing differently:

(1) We are at the beach BUT it’s raining. This isn’t what we planned; it’s very disappointing. BUT, this is the way things are.

In this scenario, we’re stuck at the beach and stuck in our minds too, and we can’t help but resist, protest, complain, and huff and puff.

Now compare it to:

(2) We are at the beach AND it’s raining. This isn’t what we planned; it’s very disappointing. AND, this is the way things are.

In this other scenario, we’re at a rainy beach, yet we are not stuck in our minds, nor is there a need to complain. We let the rain be without resisting and thus, “are now free to turn to the question, ‘What do we want to do from here?’ And then all sorts of pathways begin to appear: the possibility of resting; having the best food… reading or conversation; going to the movies or walking in the rain; or catching the next flight [out].” Exchange an AND for a BUT to open up possibilities.

When things go wrong, or simply not as planned, we can throw a fit, curse our bad luck, or decide to find an easier path with less resistance and struggle. When you come to terms with what’s ahead of you and move on, you start walking down a path filled with possibility.

ACTION

TODAY: What didn’t go as planned? What are you struggling with? What is the story you’re telling yourself? Where can you exchange an AND for a BUT to lower resistance and open up possibility? We submitted a proposal AND didn’t win the contract. Or I needed to talk to my colleague AND he didn’t have time. Or I placed the order AND the shipment did not arrive on time. Remember that there’s no such thing as a shortage of ideas when you look for possibilities after you ask What do we want to do from here?

FUTURE: Take this one step further when you are feeling afraid or challenged. Seth Godin in his book Footprints on the Moon gives this example: “I want to write a new article, BUT I’m afraid,” versus “I want to write a new article, AND I’m afraid.” By acknowledging the fear, you take the first step towards dancing with it, and figuring out the many possibilities of what you want to do next.

Know someone who could use more ANDs and less BUTs? Please share this post with that person via emailFacebook or Twitter, thank you!

Little bets, big breakthroughs

Estimated reading time: 2 minutes, 27 seconds.

EntreGurus-Book-Little Bets-Peter SimsTODAY’S IDEA: Little bets, big breakthroughs

— From Little Bets: How Breakthrough Ideas Emerge From Small Discoveries by Peter Sims

Amazon and Google, two of the biggest companies of our time, as well other successful enterprises (regardless of size), all have one thing in common: they embrace an experimental discovery mentality. They don’t know which ideas will be a big hit and which ones won’t, so they allow themselves to experiment and “learn and uncover opportunities as they go.”

Jeff Bezos, Founder of Amazon, often compares his company’s strategy of “developing ideas in new markets to ‘planting seeds’ or ‘going down blind alleys.’ […] Many efforts tend to be dead ends… but every once in a while, you go down an alley and it opens up to into this huge, broad avenue.”

In today’s business environment, long gone are the elaborate business plans in favor of lean and agile ones. The focus is on action, and this means actually “do[ing] things to discover what [companies/people] should do.” Little bets, then, are “concrete actions taken to discover, test and develop ideas that are achievable and affordable. […] The important thing to remember is that while prodigies are exceptionally rare, anyone can use little bets to unlock creative ideas.”

“Most successful entrepreneurs don’t begin with brilliant ideas—they discover them.”

Two advantages of the little bets approach are that:

  1. It lets us focus on what we can afford to loose, versus projecting or assuming the gains (this is called the affordable loss principle); and
  2. It makes us aware of the means we have and those we will need as the idea moves along.

The affordable loss principle involves failure. However, it doesn’t focus on failure as a negative and dead end, but as a means to an experiment. It’s the “error” part in trial-and-error. We’re not intentionally trying to fail; yet “in almost any attempt to create, failure, and often a good deal of it, is to be expected.”

With this in mind, trying out little bets as experimentation on new ideas and projects works. Why? Because we “will make important discoveries by being willing to be imperfect, especially at the initial stages of developing [our] ideas.” And as we move forward, iterating from the feedback we obtain, we will be able to build up to breakthroughs.

ACTION

TODAY: Take the time to figure out which one idea or project you have going on where you could put little bets to the test. Then decide which little bet you can start working on and what little means you need to make it happen.

FUTURE: Embrace the experimental discovery mentality in all you do, both professionally and personally. Include little bets so as to turn an initial idea or project into a great one by means of experimenting, iterating, refining and pivoting if necessary. Remember to move forward imperfectly. By doing this, you’ll be able to discover your best, breakthrough ideas and succeed with them.

Know someone who could use the little bets approach? Please share this post with that person via emailFacebook or Twitter!

Launch a search party for the opportunity

Estimated reading time: 2 minutes, 50 seconds.

EntreGurus-Book-Do Over-Jon AcuffTODAY’S IDEA: Launch a search party for the opportunity

— From Do Over: Rescue Monday, Reinvent Your Work, and Never Get Stuck by Jon Acuff

Change is hard. Change is uncomfortable. Change brings an unknown factor into the equation. Most of us don’t like or accept change easily. Jon Acuff, in his book Do Over, rightly says that “upon being confronted with change, our first reaction is to brainstorm reasons it won’t work: I’m too old. I don’t have enough money. It’s too risky. I’m not qualified enough. Someone has already done that exact same thing. There are worse jobs than the one I currently have…” and the litany of excuses goes on and on.

“For minutes or maybe even lifetimes, we do our best to rally the troops around why we shouldn’t do something. And this tends to be the approach we take for ourselves and even other people.” For example, say that you ask a friend to do something that he really doesn’t want to do. Your request is met with resistance, so what’s the next thing you do? Very likely you’ll find yourself asking, “Why don’t you want to do that?”

As common as that question is, Acuff says it’s the wrong one to ask. He cites the book Instant Influence, by Michael V. Pantalon, PhD, where Pantalon says, “when you ask someone a question like this, you unknowingly invite them to brainstorm new reasons they don’t want to do something. That question is an invitation to sit in the no and work yourself up even more than you were before.” By asking a negative question we use our imagination in a negative way.

This applies to any scenario, personal or professional, from asking your boss why you can’t work from home one day a week, to asking a service provider why they can’t give you a discount to… Ha! Remember when you asked your parents why you couldn’t go to that party or why you couldn’t hang out with that particular group of friends? Now we know why and how they came up with all those reasons at lightning speed!

What should we do about this?

Acuff says the solution is to ask the opposite. “Instead of launching a search party for opposition to an idea, you launch a search party for the opportunity.” In the example above where you encounter resistance from your boss to work from home, ask instead: ‘‘what’s one reason you could see me working from home as possibly a benefit to the company?”

You don’t need lots of reasons. Once you have a good one, you’ve succeeded at establishing a positive foothold in your or the other person’s mind, and you can start to build from there.

ACTION

TODAY: Identify one area or one task where you’ve been asking negative questions. Where have you been building up a reservoir of negative reasons as to why you don’t want to do something? Or where have you given someone the opportunity to nurture reasons why not to do something? Flip that around and launch a search party for the opportunity. What question will you ask yourself or someone else that will shed some positive light in favor of doing something?

FUTURE: Keep this tool handy and make a habit of asking a positive question versus a negative one. Your life and that of the people who surround you will be all the better for it, as there will be less friction and less stress when facing any kind of change.

Do you know someone who is finding a myriad reasons why not to do something? Please share this post with that person via email, Facebook or Twitter!

Prioritize your priority

Estimated reading time: 3 minutes, 28 seconds.

EntreGurus-Book-Essentialism-Greg McKeownTODAY’S IDEA: Prioritize your priority

— From Essentialism: The Disciplined Pursuit of Less by Greg McKeown

In his wonderful book, Essentialism, Greg McKeown eschews the idea that “you can have it all,” because it is a damaging myth. “It results in stressed people trying to cram yet more activities into their already overscheduled lives.” I can definitely relate.

The word priority (meaning “the very first or prior thing”) appeared in our language around the 1400s and continued that way, in singular, for centuries. “Only in the 1900s did we pluralise the term and start talking about priorities. Illogically, we reasoned that by changing the word we could bend reality. Somehow we would now be able to have multiple ‘first’ things.”

The problem with this approach is that we have many competing things, all of them appearing to be the most important, and as we try to juggle them all at once, we give our control away. “When we don’t purposefully and deliberately choose where to focus our energies and time, other people – our bosses, our colleagues, our clients, and even our families – will choose for us, and before long we’ll have lost sight of everything that is meaningful and important.”

“We can either make our choices deliberately or allow other people’s agendas to control our lives.”

The key, however, is to be cognizant that prioritizing our priority (I just had to write that!) doesn’t mean just saying no. It entails “purposefully, deliberately and strategically eliminating the non-essentials, and not just getting rid of the obvious time wasters, but cutting out some really good opportunities as well.” There are always going to be trade-offs, and some decisions will be very hard to make and require lots of careful thinking, especially when the opportunity in front is very attractive.

Ask yourself, “Will this activity or effort make the highest possible contribution towards my goal?” Remember that when an opportunity presents itself, it’s either “Hell, yeah!” or “NO.”

ACTION

Scales of Justice

Scales of Justice

TODAY: Figure out what is your one priority. A very simple way to do this is to compare the items on your current list of priorities one at a time, as if you were putting them on the scales of justice, to see which one weighs more. Say you have 4 priorities: A, B, C and D.

  • Take A and B and compare them: which one is more important? Let’s say A. Keep A as your priority so far and park B aside.
  • Now take C and compare it to A: which one is more important? Let’s say C. Keep C, as it has become your priority so far, and park A aside.
  • Now take D and compare it to C: which one is more important? Let’s say C. Park D aside.

With this method you have just determined that your priority is C. Period. Congratulations!

Now look at A, B and D and decide whether they make the highest possible contribution towards your goal. Yes? Great, schedule them in the order in which they’ll make the greatest contribution too. No? Then don’t do them if you can get away with that: delegate them, change them, get rid of them or further park them in your “that would be nice to do” list for a future. Or if you must absolutely work on them, do so only after you have done what you need to do today to advance C.

FUTURE: Question the validity of all you do so that you can focus on your priority. Look at your activities for the upcoming week or for the full month. Which ones contribute toward your goal? Keep them. Try to do away with the ones that don’t. Notice that I said, “try to” because in a week/month it’s going to be hard to focus solely on your goal and get rid of everything that doesn’t fit. We’ve all given control of our agenda to others, so it will take a bit of time to gain it back; but if you make a habit of questioning all actions and activities, in a very near future you’ll be focusing much more (if not completely) on your goal. Another great way to prioritize appears in this post: How to choose what is important? Principles of priority.

Know someone who’s trying to do it all and have it all, and is spread way to thin? Please share this post with that person via email, Facebook or Twitter, thank you!