Profits, Productivity, Leisure and Your Time

[aemathenge]

5 STEPS TO PRODUCE MORE AND MAKE MORE MONEY

We that live and derive our income from the online world tend to believe that there are too few hours in a day to do what we have to do. There is so little time to work and enjoy the activities that constitute leisure. However, an economist of Italian origin, Vilfredo Pareto, made public his concept that we are spending a very little portion of our time each day in activities that bring us a high return despite the situation.

The 80-20 principle

Pareto holds the theory that only twenty percent of our time and effort is producing all the eighty percent of our professional products and income. This means we are wasting away eighty percent of our valuable time engaged in activities that can be termed as non-productive.

The tragedy is that a lot of us will fail to admit this and decide to live in denial, continuing the 80-20 way of life. You will continue making eighty percent of your fruit from only twenty percent of you endeavors. Imagine what you would make from thirty percent or forty or even sixty.

The actions that matters most in your line of work have got to stop suffering from doings that matter the least. It is time to start working on a strategy grounded on the 80-20 principle to create more wealth and consequently leisure time to enjoy the wealth created. Follow these steps to do so:

1. The difficult first step, the data

You have got to get the data to succeed. Start a log today about each activity and the length of time spent on it. It is a time consuming but critical exercise important in obtaining a clear picture of your working period, for example, a week.

2. Take a critical look at the results

Divide the data into high and low priority headings. High priority initiatives should cover those activities that bring a high return or those that involve the skills you are expert in. Low priority, on the other hand, should cover things other people can do better for you such as delegation to support staff or freelance specialists.

Once you perform an analysis of this data, you will most likely find out that you are spending so much time on low priority deeds rather than those giving you a good return. Many businesses’ non-productive actions take a bigger portion than they should.

3. Delegate, delegate, delegate

Low priority activities have got to be delegated as much as possible. This can be to freelance specialists after basic instructions in what you do. The initial cost to do so will ultimately be offset by the increased productivity both in quantity and quality. You may feel that you wish to do certain low priority jobs. You should kill the temptation to do so unless it is absolutely necessary.

4. Time for the essential low priority assignments

In your line of business, there will always be those critical but low priority assignments that only you can perform. You have got to calculate the length of time to take on them in order to reserve the bigger portion of your productive time. Avoid apportioning to much hard work on them and schedule a certain time each day or week to clear them.

5. The high priority activities

These are your bread and butter. These are reasons you wake up every day to work on your computer. These are the sources of your rewards in your professional life. Concentrate most of your working time on them. With time and experience, you will learn which to assign the high or low priority tag. You will discover that what you considered high actually turns out to be low and vice versa.

The cost of failure to implement the 80-20 strategy

Spending a lot of your working time on non-productive initiatives is a big source of stress for many professional marketers. You will for ever be reading about how to make more money online because you are probably concentrating on them rather than making more money in productive work. Finally, you will have less time to do what you love such as your relationship, your family and fun activities such as watching the latest spin-off from 24.

Finally, it is your life

You want more success in your life. You will only live once, so live properly. To get more time to engage in activities you love, implement the 80-20 strategies starting right now. Your career and personal life will take a turn for the better and the big bonus is that you will become wealthier over the period of your life. I wonder if you are up to it.

 

[Mr Ext]

This is new advanced techniques for making money online that it's not easy to understand for a newbie as me. I need to read it more times to understand things that you are blowing into your article. Awesome!

You're possible to give a real example instead of theory as above?
that it can apply in real life, real making money online ways

 

[aemathenge]

I can only give my personal example for now.

I am a freelance content writer. A prospective client once asked me to write an article on "why you should buy face book likes" and offered to pay me 3$ for the article. I did not know anything about the subject and had other articles each going for 6$ I was working on at the time.

I contacted a fellow freelancer and gave him the job although he asked for 4$ for the job. He did the job within two hours because that was his specialty and had all the research needed for the assignment.

I made a few adjustments to the article my colleague had done and then submitted it to the client.

The client was so happy that I get many assignments from him on a regular basis and he pays a minimum of 7$.

The lesson: I delegated because it was a low priority job but I needed the client for future better paying jobs which I got.

I hope this is clear enough.