There are popular books circulating that say the key to success and the company growing to the next level is for risk-taking, courage, and failure to be welcomed and encouraged. But we don’t take the time to break down the old culture first: office politics, leave your emotions at the door, do things my way, know your place and act appropriately for your level, etc. All of these hinder the ability for vulnerable acts like risk-taking and creative thinking.
This week I worked with four different clients who all are doing their best to figure out how to lead their teams who are facing the fact that now, with their kids having to do school at home, they will be responsible for both their work responsibilities and their kid’s education. As leaders, we absolutely have to face the reality that this year will be different. All those incredible goals you and your team set back in January, have to shift (if they haven’t already), but more than just goals, your expectations for your team and yourself have to shift as well. Realistic expectations are key for success, health, and maintaining good relationships with each other.
But as leaders, we also know that we have a business to run. If we want to keep our jobs then we have to grow profits and deliver results. So how do we go this realistically- while maintaining our relational, mental, and physical health? We are going to have to get really clear on what is truly important and use the time we have to its full potential.
I wanted to share a tool that has helped me tremendously with my focus and productivity:
The Pareto Principle, also known as the 80:20 Rule. Simply put, the 80:20 rule is that 80% of our results come from 20% of our efforts. Several studies have found that 80% of a company's revenue comes from only 20% of their customers. So if you have a project due, or there are sales numbers or KPIs you have to hit, then you have to determine what is the 20% of your activity that you need to hyper-focus on in order to get those results but also what is the 80% of distraction that is wasting your time.
To make this easy, I put together a simple process to follow, that I call the 3 D’s:
Discover your top strengths - what you do best. Make a list of maybe 4 or 5 areas of strength.
Determine your key responsibilities. You can do this by grouping your tasks to create a list of about 10 responsibilities and then narrowing it down to 2 or 3 (MAX) that only you can do.
Delegate. Now, using your list above, you can see the other 7 or 8 areas that you’ll need to delegate to your team. If you don’t have a team, then you’ll need to discover what items on that list can come off (because honestly, they aren’t helping you achieve results) or you’ll have to prioritize them based on the key indicators and results and how each activity most contributes to achieving those. If it doesn’t, then it either comes off the list or will have to wait.
Help your team go through this practice as well. In your next team meeting, walk them through an exercise where they write down their strengths, group their activity into 10 responsibilities and help them narrow down the 2 or 3 that create the most impact. Then help them to know how to prioritize and focus on those key areas.
The reality is, most people will not, and cannot, work 40 hours a week in the current environment. The good news is that we don’t need 40+ hours a week to get results. We just have to hyper-focus on the activity that really creates impact and produces results, this is called the vital few. The extra fluff, also known as the trivial many (aka distractions), has to be thrown out.
If you want to learn more about The Pareto Principle, I highly recommend this article on using the 80:20 principle to become a better leader.
What are you doing to juggle all the competing priorities, in the midst of limited resources, space, and limited ability to connect and interact? Comment and let me know! It's so important to be learning from each other.
Lastly, If you're looking to optimize your leadership to drive results, improve team effectiveness, lead change, achieve balance so you can show up well in every area of your life, determine your career goals and work from your purpose, and all the skills needed to lead in the midst of a pandemic go here to schedule a call to learn what executive and leadership coaching can provide for you.
