- Business and Employment
How to become Successful? The 80/20/30 Rule to a Successful Life
I would like to deviate from the basic principles and philosophy that discusses the hows of success that were made available in many books, magazines and even on search engines. I wish to share the 80/20/30 rule to success and hoping that this would be a great help to everyone. Thank you!
The Philosopy of 80/20/30 Rule
The philosophical idea behind 80/20 rule is that; it requires an action that would result to a 30% more profit. Interesting isn’t it? (Note: The formula is hypothetical and could not be calculated to come up with the 30% result. It is only a mathematical basis to weigh the flow of idea to be more logical and exact).
Applying the Rule
In business, the 20% of your profit would mean 80% of your problems.
To simply it further, let’s take it as an example that you are engage in a financing company and you have 100 customers. Eighty (80) of which are just good accounts; pay on or before maturity dates and are easy to deal with. While twenty (20) of them were past due accounts, fail to pay on time, find trouble in locating their whereabouts and were just messing you up. The rule applies that if you sacrifice these 20 customers (representing 80% of your problem/cost/expense) you would be able to focus on generating more notes and have more time to conduct follow up on good accounts. Thus, you would be able to save time (one of the most important factor in business), effort and energy that would equal to a 30% more profit.
Rules in Life
The rule doesn’t confine itself in business or commerce. It also applies in our day to day life especially when we are making decisions. Let say that you are one of the following:
- Shopping almost every day without a clear idea of what you really want
- Always patronizing branded products
- Dependent on credit cards for shopping and paying loan
- Always eating at fine dining restaurants
- Buying new gadgets regularly
- Buying on credit payable on longer terms
- Always on the go of what is new and what is cool
These are some examples of bad habits that would only satisfy our wants but not really our needs. Do you believe that this would only satisfy our desires for only up to 20%? For sure you might disagree but in my opinion it is the reality. Now try to retrospect, feel and visualize the things that put a smile on your face, that decision without hesitations and the acts that you’d been comfortable with.
Take a moment to think and weigh everything that makes you really happy. List it down according to priority and you would be surprise that the above mentioned habits were at the bottom of your list which represents 20% of your total happiness.
These bad habits would only boil down into 80% of your problem, worries, aggravations, stress and headache (Note: these are fatal emotions, it may not hurt you physically but it could result to mental under nourishment or torture). By simply applying the 80/20/30 rule; that if you only sacrifice these 20% bad habits you would untie your debts, focus on what really make you happy (family, friends and invest on your faith) and have a stress free life. Isn't amazing? Enjoy life without worrying on to your problems. You can be proud of and say YES to the world that you achieved the total success in life.
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