We tend to think that there’s usually a proportional correlation between effort and result.
But if we stop and think about it, we realize that’s just not true. How many times have you put a LOT of effort into something and gotten mediocre results?
Of course, once in a long while…you might get AMAZING results having put forth very little effort. So…
What’s going on in the Universe?
Is everything just random? Or is there some underlying thing happening that might (if understood better) allow you to get MORE of these small effort/big results outcomes?
Well, believe it or not…
There IS such a hidden lever that you can use to put forth small effort and yet reap big rewards. It’s called the 80/20 principle, or the Pareto principle.
Many highly successful people know about this principle, and have used it as the main leverage point of their highly successful businesses.
Tim Ferris called this principle of “the cornerstone of results-based living.” The 80/20 principle is a game changer.
When you realize that it is small causes that have big results, life becomes exponentially easier. Business success is virtually guaranteed.
The key is to learn how to find the small things you can do, in very little time, with very little money or none at all, to have a big impact on the people around you.
Although some uses of the 80/20 principle are obvious and take almost no mental effort, other applications of the principal take quite a lot of thought.
Here are some quick examples of the 80/20 principle in action.
- 20% of the roads in your area carry 80% of the traffic.
- 20% of people’s wardrobe is worn 80% of the time.
- 80% of warranty claims come from 20% of the product defects.
- 80% of your productivity comes from 20% of the tasks on your to do list.
- 80% of your revenue comes from 20% of your clients.
And so on.
As I said, some applications of the principal are obvious. But, the most powerful ones take more thoughtfulness.
It helps to have someone to help guide you in understanding the principle, and understanding how to apply it.
Here are two excellent books that will help you understand the principle, and discover how to apply it in a practical way to improve your life, and your business.
- The 80/20 Principle: The Secret of Achieving More With Less, by Richard Koch
- 80/20 Sales & Marketing: The Definitive Guide to Working Less & Making More, by Perry Marshall
Now, as I mentioned earlier, some uses of the 80/20 principle are obvious and take almost no mental effort.
But most applications of the 80/20 principal require strenuous effort and/or thoughtful insight. This is especially true when it comes to applying the principle to the practice of law.
However, it can be done. I know because that’s what I learned to do in my law practice.
Mostly, by the use of technology. But psychology also comes into play in many ways.
These days, I spend all my time helping other lawyers get the results I got when I transformed how I ran my practice. My whole approach to helping such lawyers is rooted in 80/20 principles.
First, stop the bleeding
When I first start working with lawyers who want to improve their practices I first focus on helping them to stop wasting time, energy and money in the “reverse 80/20” scenarios.
Which is to say, those situations where you exert 80% effort to get 20% results.
Then I work on the “healthy” 80/20 approach—where you get 80% of the results with 20% of the effort. How does this happen? Well…
All of the groundwork is contained in my Law Firm Autopilot course.
You can go through the 50+ lessons. Download the various checklists, templates, short guides, and workbooks (there are over 30 of them). There’s a lot you’ll learn in the Autopilot course.
That’s my best advice, packaged in a convenient online place that you can review at your leisure. Of course, you can try to figure out the 80/20 thing on your own. Just go read those books I mentioned above (I think you’ll learn a lot and so I definitely recommend those books even if you sign up for my course).
And, of course you can always search the web for articles on “how to run a law firm successfully.”
Maybe you’re curious what’s out there in Google Land. If so, don’t hesitate.
Go ahead…give it a shot.
If you want well-thought out guidance, my course can help you just as it’s helped many other lawyers (i.e. Patrick, for example).
Look if searching the web isn’t working. Or, if you don’t feel like reading books to dissect which parts of the books apply to your life and your practice…
Then sign up for the LawFirm Autopilot course.
I’ll be waiting inside to help you out as soon as you do.