If you’ve ever read about the 5 Love Languages by Gary Chapman, you know that, for must of us, there are particular things that make each of us feel loved. My wife’s love language is “Words of Affirmation.” She loves to be complimented and praised. I could do many other things – wash the dishes, buy her chocolate, or give her a big hug, for example – but generally, if I want her to feel loved, I need to give her vocal or written affirmation. This is an illustration of the principle that 80% of success comes from 20% of effort. Applying this principle to my relationship with my wife helps me avoid wasting time on things that, while good, will be less affective at helping me achieve my goal: helping my wife feel loved and valued.
Consider how this principle might be applied in a business setting. In your office, for example, are you concentrating on effective time management? What part of the appraisal process is the 20% here? The answer will differ from person to person, and is of major significance when it comes to the success of your business. What about marketing? There are many places you can spend your money and time, from advertising in phonebooks and on billboards to talking with realtors and attorneys. However, only some of those things will really truly be effective. Thus, concentrating your efforts on the things of greatest value and importance will help you be more successful.
This ability to evaluate your resources to determine which ones are of greatest value to you is an important skill to develop. As you learn to recognize which things in your life – business or otherwise – constitute the 20%, your successfulness as a business owner, appraiser, family member, spouse, and friend will increase.
For more information on this subject, please download and listen to The Appraiser Coach Podcast Episode: