Short spoken coaching by Brian Tracy advising business owners to 'spring clean' their operations by focusing on the highest-value activities. He emphasizes the 80/20 rule and his 'law of three', then gives a four-part formula: do fewer things, do more important things (the big three), spend more time on them, and get better at them.
Questions this video answers
Brian Tracy.
1) Do fewer things. 2) Do more important things (focus on your 'big three'). 3) Do them more of the time (start mornings with high-value work). 4) Get better at each one.
Chapters
Let's talk about spring cleaning for your business, which is something that you should be doing on a regular basis. There's two or three concepts that I share with thousands of business owners all over the world, and many of them go, wow, they hadn't even thought of it. The first business concept is the old 8020 rule. 20% of your activities account for 80% of your results. That means that 80% of your activities account for 20% of your results. And often those 80% of activities take up 80 or 90% of your time. So the starting point is to ask, what are your most successful products and services? Who are your most successful and valuable customers and clients? What are the things that you do that give you the highest return on the amount of time and money you invest? And how can you do more of those and discontinue more and more of the things in the bottom 80%? Now, a second concept which I teach is called the law of three. It says that if you make a list of everything you have to do in a week or a month, only three of those activities contribute 80% or 90% of your results and your income. And the question is, what are those three items? And the way you do it is you look at your list and you ask these three magic questions. Magic question number one is, if you could only do one thing all day long, which one activity contributes the greatest value to yourself and your business? Magic question number two is that if you could only do two things all day long, what would be number two? And circle those on your list. And magic question number three is, if you could only do three things all day long, what would be number three? And I've put thousands of business owners through this test, and when they come up with their big three, which everybody does depending upon their field, they're astonished that everything else they do in the day only accounts for 10% of their value and their income. And the other things that they do leave them exhausted and burned out at the end of the day. So here's what you do. It's a four part formula for spring cleaning in your business. Do fewer things. Do fewer things. Because the only way you can get your time under control is by stopping doing so many things. Number two, do more important things. Do the big three. Do the things that contribute the most value to yourself and your life and your business. Number three is do them more of the time. Spend more of the time, starting first thing in the morning doing things of high value. And number four is get better at each one. One of the most powerful time management tools. One of the greatest resolutions you can make in spring is to become absolutely excellent at doing the three things that contribute the most to your life. So those are my thoughts with regard to spring cleaning for your business. And one last point is this is Remember, the rate of change has never been faster except for tomorrow and the next day. And you need to be fast and flexible and willing to change as well if you want to survive and thrive in the marketplace of today and tomorrow. Good luck. I'll see you again soon.
