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3 Reasons to Forget the 80/20 Rule and Focus on the 4 Percent

3 Reasons to Forget the 80/20 Rule and Focus on the 4 Percent

The number one mistake entrepreneurs make is that they don’t know the ROI (return on investment) of their time. As an entrepreneur I’m guilty of that as well. It’s easy to get distracted and focus on a billion things at once and not see much success from it. In fact, we feel compelled to dip our hands into many different projects.

It wasn’t until recently that I figured out how to leverage my time to see an insane ROI. I would never have figured it out if I hadn’t sat down with the Freedom Entrepreneur himself, Chris Duncan. Christopher Duncan is the embodiment of the freedom entrepreneur. In fact, that’s the slogan by which he lives. He works smarter and not harder which allows him to run eight companies- three of which do seven figures a year- and still be able to work wherever he wants.

    When he says that you can live a life with total freedom, that’s exactly what he means, but because people usually don’t know the ROI of their last hour or the ROI of their staff members they are not able to grow their businesses as fast as they’d like. The problem with not measuring output and productivity is that life can become an endless, unproductive hustle. Here’s a new concept I learned from Chris. Most entrepreneurs know the 80/20 rule- that 80% of your results will come from 20% of your efforts. However, if there’s an 80/20 rule then there must be an 80/20 of that 80/20 which is the 4% that will bring you 64% of your results. This means that you only need to know the needle movers of your business that make most of the difference. You don’t need to do everything else that people think they need to do.

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    The 4% is what Chris calls the money-making activity. It’s what you can do repeatedly to make all the money. Here are three things you can do to make sure you’re utilising the 4% concept to its fullest potential.

    1. Anything outside of the 20% must be delegated.

    Now the question becomes how to figure out what that 4% is. The answer is quite simple. The 4% is the money-making activity which I mentioned above but if you don’t know what that is, you should track where you’re spending your time and what activities bring you the most money.

    Put a timer on your phone for every 30 minutes between the time you wake up and the time you go to bed. Every time the timer goes off, write down what you did that past half hour. The point is not to change your daily routine just because you have the alarm. The point is to track what you do on a daily basis so that you can figure out where you’re wasting your time and what you can delegate.

    Here’s an example.

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    12:00 pm

    • Hired someone on Fiverr to make a media package form.
    • Created some part of form.
    • Wrote down services for future reference.
    • Created Google Drive for web developer w/ info.

    12:30 pm

    • Set up Calendly.
    • Created contact page w/ Calendly.

    1:00 pm

    • Talked with client about his press.
    • Scheduled more calls.
    • Friend came over.
    • Created my own form instead of Fiverr.

    This provides a clear picture of what you do day in and day out. You can eliminate the activities that aren’t beneficial for your business and delegate repetitive tasks that don’t do much to grow your business.

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    2. The 4% is cashflow.

    The 4% is the needle movers in your business- the few activities that if you did more of would grow your business exponentially. Chances are if you track how you use your time, you’ll find that the 4% is cashflow. Make sure that the money coming into your business is more than the money going out of your business. This way your business will survive and thrive. If you don’t master cashflow then you will be simply getting by. After identifying what you should be doing and what should be delegated, you should do double what makes the money.

    It can be easy for entrepreneurs to get sidetracked by doing things that don’t yield many results. Here’s an example I recently found on Facebook that shows the difference in results by only focusing on what matters.

      Now instead of being busy he’s being productive.

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      3. Double what works.

      Once you know that you should live by the 4% rule, you need to focus more of your time and energy on that. It’s one of the reasons successful entrepreneurs like Gary Vaynerchuk say that you should focus completely on your strengths- not your weaknesses. It’s the reason why other entrepreneurs tell their followers to increase what works. That’s the way to build a business faster.

      In the previous paragraphs I talked about how to identify what the 4% is and how to leverage it in your business. I’m going to use Chris as an example. Chris knew that in his business he was getting massive results- crushing 60K- by putting on webinars and not doing the traditional blog posts to generate leads. Since he knew this was the moneymaker for him, all he needed to do was to get more people on the webinar or put on more webinars to make more money. He grew his business to six-figure months by solely focusing on partnerships and webinars. Anything outside of that activity he hired or delegated.

      If you know that 4% of your efforts bring in most of the results, then you should double the amount of time you spend on the 4% to increase your results.

      Featured photo credit: http://www.huffingtonpost.com/ via huffingtonpost.com

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      Adnan Manzoor

      Data Analyst & Life Coach

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      Last Updated on November 20, 2020

      How to Type Faster: 12 Typing Tips and Techniques

      How to Type Faster: 12 Typing Tips and Techniques

      Do you know that being able to type faster makes you more productive? In fact, it’ll save you 21 days every year just by typing faster!

      Many people look up to master typists and wish that they could handle a keyboard like they do. The truth is that none of them started that way, and they had to learn.

      How can you learn how to type faster?

      In this article, you’ll learn 12 useful fasting typing tips and techniques.

      1. Improve Your Workspace

      Many people believe that fast and correct typing will start when you can master the keyboard. However, the truth is that you will need to begin with getting a workspace that is clean, properly ventilated, and comfortable. Also, for optimal typing, you will need to get a table and not work with your laptop or computer on your lap.

      If you will be working for an extended period, make sure that you’re comfortable.

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      2. Fix Your Posture

      If you want to type well, the correct posture will be seated, straight backed, and with your feet planted a little apart, flat on the ground. You wrists should also be positioned in such a way that your fingers can cover the keyboard. Tilt your head a bit as you can look at the screen properly as well.

      Adjust your office chair so you’ll be able to easily play with the seat and get a proper posture[1].

      Learn how to type faster with correct posture.

        3. Hold Your Posture

        It is also very important that you keep this position as you type. Ensure that your posture is good, and this way, you will be able to avoid getting aches on your wrists. These aches have a way of slowing you down and keeping you out of rhythm.

        Keep your back and shoulders from hunching, and while relaxation should be your key goal as you work on, also be sure to stay upright.

        4. Familiarize Yourself with the Keyboard

        The keyboard is your tool here, so you will need to get to know it. Fortunately for you, most keyboards that you see will make use of the same layout; the QWERTY layout. It is called that because of the letters that make the top left corner. You’ll also find that a lot of keyboards have keys around these main ones that do several things.

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        Here’s a nice video to help you familiarize yourself with the keyboard:

        Work on memorizing the positions of the letter keys, as well as some of the most used punctuation marks. You will need to understand where they are without looking at the keyboard. This is the only way you can learn to type fast.

        5. Close Your Eyes and Say the Keys out Loud as You Press Them

        Another great way to get to know the positions of these letters is to look away from them and directly at the screen. Then, pronounce the keys as you press them and see if you’re correct. This step will go a long way in helping you to memorize the keys, and it can easily help you learn how to type faster.

        6. Start Slowly With Touch-Typing

        Improving your speed as you type is a matter of developing your muscle memory over time. However, the quickest way to master typing will be learning touch typing[2]. If this is your first time with touch typing, then you might spend a lot of time on this step. However, once you can type key combinations without looking at the keyboard layout, your speed will increase.

        7. Don’t Look at Your Hands

        The whole essence of this step is to keep you from looking at your keyboard as you type so that your fingers are made to learn how the keys work.

        Again, you might find that your speed reduces when you begin, but just stick to it. Touch typing will help you to reach higher speeds and master it.

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        8. Practice, Practice, Practice

        Mastering the touch typing technique will prove to be a bit finicky, but once your posture is up and you get your fingers where they should be, you can only improve by practicing.

        Spare some time on a daily basis to practice and master both accuracy and speed. With continuous practice, you will also notice that you make fewer errors with time.

        9. Check out Some Online Typing Games

        There are also some websites that can help you with your practicing. They score you and record your words per minute, so you can try improving your record and competing with others as well. Here are some of the best sites:

        10. Dictation Practice

        If you don’t know what you can write, another alternative to getting good practice is to listen to something and try to type as you hear the words. There is no limit to the kind of things you can write, and you can even make the practice process more fun.

        Get an e-book, an online lecture, or listen to a TV show or talk show.

        11. Monitor Your Progress

        Ensure that you keep track of the progress you make as you go on. However, it is important that you don’t get obsessed with how many words you are able to type in a minute. Rather, ensure that you stay comfortable while you’re practicing. With time, your words per minute will increase, and you’ll be able to clock up some high numbers.

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        12. Get Some Formal Training

        There are many specially designed courses and typing lessons that will boost your abilities. If you’re willing to improve your skill, get any of these and see how well they work for you:

        The Bottom Line

        Typing is a skill that takes time to develop, but with practice and dedication, you can learn how to get faster at typing and improve your productivity on a day-to-day basis.

        One day, you may even improve your typing so much that you reach 40 wpm!

        More Tips on How to Type Faster

        Featured photo credit: Cytonn Photography via unsplash.com

        Reference

        [1] Well: Working WELL anywhere
        [2] Techopedia: Touch Typing

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