This article appeared on Silicon India home page – Sept. 6, 2011
Jim Rohn said “Rich people have 24 hours a day and Poor people have 24 hours a day, does this not drive you mad? Both have the same number of hours a day but the OUTCOME is different. He further says “Not so successful people spend a major amount of their time on minor things whereas successful people spend time on major things in life. They invest time on things that count.”
Time is the most precious resource; you can have more money but not more time. A day spend is a day less from your life cycle. So spend your time judiciously.
Having looked at the habits of successful people I realized that the laws of productivity have been shared across the centuries and people who practice them become successful. I looked at the three productivity principles that can help you generate more time during the day. The three laws are
- - Perato Law
- - Parkinson s law
- - Not to do list.
- Pareto Law: In 1906, Italian economist Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country, observing that 20% of the people owned 80% of the wealth calling it Pareto’s Principle. The 80/20 Rule means that in anything a few (20 %) are vital and many (80 %) are trivial. Pareto’s Law can be a very effective tool to help you manage your time. Identify what 20% activities reflect 80% of the results in your Professional, Personal, Social and Family relationship. And spend time on those 20% activities, as for the balance of 80%, put it in the backburner.
- Parkinson law: This interesting statement was made by Cyril Northcote Parkinson, the famous British historian and author, in 1955. It says work expands to fill the time available for its completion. What it means is that if you give yourself a week to complete a two hour task, then the task will increase in complexity and become more daunting so as to fill that week. Therefore, the next time you have been assigned a task, allocate it the bare minimum right time limit and complete it. By assigning the right amount of time to a task, we gain back more time and the task will reduce in complexity to its natural state. And you will effectively gain precious time.
- NOT to do things list: Identify the things that you can avoid doing and bring focus on more relevant and productive activities. Call this list the “Not to do list” and you can handle them in numerous different ways such as
- Delegate them.
- Postpone and let it die a natural death
- Outsource them
- Group them and complete them when time permits
Now you have the three laws of productivity, practice them and create a successful, rich and prosperous outcome from your 24 hours a day.