Heather Eldred » 80/20 Principal

Are you sacrificing today’s happiness for the “success” of tomorrow?

Heather — Sun, 19 Oct 2014 23:51:34 +0000

We’ve all heard the warnings are out there that getting rich won’t make you happy and highly successful business people die at a young age of heart attacks or sacrifice their families, hobbies and other dreams for the sake of success. Yet, many of us are still driven to this place. The allure of money, success and power has become (at least in the US) a draw like a siren that tempts you with her (or his) pleasures and treasures only to see you crashing on the rocks when you finally have all that you dreamed of. I personally never had any great aspirations to run a company or make a ton of money or to be a leader. Really I never had these aspirations because I was raised to be “ordinary”, which really none of us are. I did however grow up with great intellectual curiosity and an overwhelming desire to work hard and do a good job. I’ve always wanted my actions to matter. I always wanted to look back at the end of the day and say, “ok, there was some value I brought”. Only when I started being successful (through no grand design, just hard work and intuition), did I start to understand that there were perils at the top that no one really tells you about. Even those at the top don’t really admit it or maybe even know because once you are at the top; you have to try so damn hard to stay there. You oftentimes lose your purpose and why or what got you there to begin with. Maybe when we are young we think: I want to get rich so I don’t have to work anymore and I can spend every day fishing or skiing. Yet, what happens when we get successful or rich, we just work harder because we are so afraid of not being at the top or we spend so much money on vacations and self-medication (shopping, gambling, alcohol, food, etc.) in order to deal with the stresses of this lifestyle that we just have to keep making more money. Having aspirations to be CEO or make six or seven figures are worthy goals. However, I do suggest being very diligent in staying in the present moment as you are making the climb to the top. Also, if you aren’t enjoying what you are doing most of the time, then I’d suggest some self-reflection. Is this really what you are passionate about? Can you see yourself doing it for the next 30 years? Or is it just a means to an end? Will you look back and regret that you missed so many of your kids games or let your marriage fall apart or didn’t have enough “you” time? Rarely (or arguably ever) should the happiness of today be sacrificed for the “success” of tomorrow. Just my two cents.

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4 ways to get more done each day

Heather — Mon, 08 Sep 2014 16:45:04 +0000

Let’s face it, no matter how much we get done each day, burning the candle at both ends, the longer our to-do list gets. I personally run to the side of overly ambitious in all the things that I want to pursue and accomplish. In any given day, I might decide to get a lot of work done for a client, work out an hour or two, make a great meal, clean my house, write some pages in my book-in-progress and spend quality time with my kidos. Some days I accomplish all of this and some days not so much. Because I’m always trying to do so much, I’ve had to find effective and simple strategies to get more done- without killing myself. The key? Quit trying to do so much! Here are four tips to help you get more of the right stuff done each day. 1) Prioritize – what do you really want to do and what really has to get done? Once a week (and usually every day), I make a list of the FEW things that absolutely must get done this week. For me, mowing the lawn isn’t on the MUST do list while cleaning the clothes is, folding them isn’t. Paying the utility bill that is past due so the electricity doesn’t get turned off is. At work, I really focus on the 80/20 – the 20% of things that have the ability to move the needle. So the few things might be meeting with my staff to develop next quarter’s strategic plan (helping them find their 80/20) but not cleaning out my inbox. For a busy executive – this list might only be 3-5 items long. 2) Quit multi-tasking – believe it or not multi-tasking is the worst thing that you can do. It used to come with bragging rights but now I think most people realize this is not the way to get more done. You end up working on a lot of things but getting nothing done well. Don’t believe me? Try it for a week. Only work on one thing at a time. You’ll get more done, you’ll feel less stressed and what you do get done will be done well. 3) Make your Mornings Count – Do the most important (and hardest) tasks when your brain is at its peak. For most of us, that is first thing in the morning. I realized a long time ago, that if I don’t get the hard stuff done by 11, I’m pretty much screwed for the day. And what we do the first thing in the morning sets the tone. If you start your day saturating your brain with email or worse yet last night’s Facebook posts, you’ll set yourself up for a very unproductive day. So don’t use those precious fertile moments to read email or pay bills! That time is precious and should be used for things that require great creativity and or great thought. If you are working on a new business idea, writing a book or […]

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Learn to say “no” to achieve your dreams

Heather — Fri, 15 Aug 2014 15:59:13 +0000

I had a great conversation with a friend yesterday that inspired me to share her story and great tips. Barbara (all names have been changed to protect the innocent) is a young professional that would like to get involved in management and be a leader in her company. She’s felt frustrated in the past because while her co-workers genuinely value her “get it done attitude”, teamwork and appreciate that she’ll jump in and help with anything – she doesn’t think they see her as a leader. At first she was upset that no one really took her seriously, but now she has taken her career growth into her own hands. One of the hardest (and maybe not intuitive) things she had to do was to quit saying “yes” all the time. In my experience most of us are either “yes” or “no” people. By this I mean our first impulse when asked to do something is to either say yes or no. This instant answer (regardless of if you are the yes guy or the no guy) should be tempered. If you generally say “no” (particularly if it “isn’t my job”) to requests, you will rarely have an opportunity to try new things, grow or work with new people. You won’t have the opportunity to discover some of your own hidden talents and passions. And from your peer’s and supervisor’s perspective, at a minimum you’ll get pigeon holed – people won’t even consider you for new assignments. But even worse, they’ll feel you aren’t a team player. You aren’t someone they can depend on. I think most of us understand the pitfalls in being the “no” guy. And probably if you are a “no” guy, you already recognize it and are working on it. But I bet most of us don’t get and maybe some of you won’t even buy into the fact that being the “yes” guy can have pitfalls as well. Barbara realized that while she was well liked and everyone wanted her on their team, she wasn’t standing out as a leader or a real expert. But instead of blaming others for not giving her opportunities, she took it on herself to develop the skills and experience that is needed to become a leader – and this started with knowing when to say NO. Barbara knew that she needed to work hard to become a leader – she needed to gain skills but also needed opportunities where her co-workers could see her in a leadership role. But she knows that just adding more hours in her workday wasn’t the answer either. Barbara has already seen the benefits of work-life balance. She needed to find ways to spend more of her time on the tasks that will get her to her goals without adding hours to her day. These are the tips she shared with me: 1) Track and review where you spend your time. If you don’t know what you are spending time on now, you can’t make […]

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Flexibility = key to success

Heather — Wed, 12 Mar 2014 08:35:00 +0000

One of the most important things I’ve learned in my career (and life) is that you have to be able to bend. In our modern, stressed out, balls to the wall corporate culture, things get heated, people have differing opinions and motives can oftentimes be at odds. This is the case even if folks have the best of intentions and are just trying to do what they think is right. It makes it even harder when there are people that have less than the best of intentions and are so focused on getting to the top that they don’t mind crushing a few bystanders on the way. When I was in my 20s, I had an opinion about everything and I argued about everything. And of course I was always right (just ask me). I still think I’m right most of the time, but I’ve learned that life is too short to be constantly at battle and frankly, when you have a fight that you need to take on, you don’t want to be too diluted or too damn worn out to take it on. Bottom line: Pick your battles. Here are areas that I apply this to: 1) My teenager.. let as much roll off as possible long hair, the occasional smart ass remark, wants to have to do his chores when he wants, not when I want. the friends he picks – unless they are real trouble makers Battles to pick: no swearing online or around girls, be respectful, kind & a gentleman; especially to Mom, Grandma and Girlfriend, follow through with commitments You’ll notice no texting while driving, drugs, alcohol and unprotected sex aren’t even on the list. Those aren’t negotiable and are not up for battle – he just knows he’ll have the wrath of Mom. And we talk about them… A LOT. You can imagine his joy :-). 2) My subordinates.. again, let as much roll as possible flexible work hours, the way projects get accomplished as long as time frames, scope and a high level project plan are established, how they manage their staff as long as they are respectful and fair, time off as long as it doesn’t interfere with something very important – even just a mental health day should be encouraged). Battles to pick: being respectful, kind and professional Effective communication including establishing understanding of expectations, timelines, resources and what will need to prioritized in order to get the job done follow through with commitments – communicating with effected parties as challenges arise, bringing forth possible solutions, ramifications and risk mitigation. Effective, measurable movement toward goals Bottom line – don’t be a control freak. Pick the battles that matter. Focus on the 80/20 whether at work or at home. Empower and trust those around you. You will get more done and you will inspire your employees and children to take charge and be the best versions of their selves.

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Do Less To Achieve More

Heather — Sat, 08 Feb 2014 23:48:36 +0000

I found this great article in Forbes from a couple of years ago. It really illustrates the 80/20 principal in very practical business terms. The advice here is sound – for all areas of life. Prioritize, prioritize, prioritize. Only do the few things that actually make the biggest difference. In my life, I take all my must haves, want to do’s and should do’s and sort them into A, B & C lists. The first thing I do is throw the B & C lists away. I then take the A list and sort by the top 3 most important things that will make the biggest impact. These are what I work on. I try and use this lens for everything I do. This allows me to maintain work-life balance and leaves a little space for spontaneity and grabbing onto innovative or creative moments and ideas. http://www.forbes.com/sites/ronashkenas/2012/03/12/do-less-to-achieve-more/

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I deserve to be the boss! Try running your own race..

Heather — Fri, 29 Nov 2013 20:47:47 +0000

“I am in competition with no one. I run my own race. I have no desire to play the game of being better than anyone, in any way, shape or form. I just aim to improve, to be better than I was before. That’s me and I am free.” ~ Jenny G. Perry One of the biggest mistakes I’ve seen people make in trying to get ahead in business is to have this attitude. Because I have a MBA, 20 years’ experience, my Dad owns the company, etc., I should already be running the place. This attitude won’t get you anywhere. First of all, actions speak louder than words and I don’t care how impressive your resume is, you have to prove yourself. Second, you are robbing yourself of your life because you are preoccupied with the future and what you “should” be getting. Finally, when you have this attitude, you project negativity, arrogance and do not endear yourself to those around you – which is a needed ingredient to long term success in any organization. From my experience, I certainly never had any plan to “climb the corporate ladder”. I don’t have any fancy degrees and my Dad definitely did not own the company. What I did was give everything to the current project at hand. I sought out and volunteered for opportunities that I found challenging and could be passionate about (not because I thought they’d get me ahead). I helped out and ask for help of folks in all levels of the organization that had an equal degree of passion in the project. And I did keep escalating, getting many promotions but more importantly, many more opportunities to stretch my wings and find my passions. The side effects were nice sounding titles and increasingly good salaries. So if you feel you are deserving of something that you haven’t achieved yet, try out these tips (give it a solid six months). Trust me they work. 1) First of all, get over yourself. Believe it or not, you are not the smartest person alive and God’s gift to the world. Yes, you really have been sounding that way. Every single person has a gift to share, right down to the lady answering the phone and the guy taking out the trash. More times than not, these are the folks that saved my ass. When you have a thought or feelings of superiority over anyone – in any situation – observe in yourself that your EGO induced that thought, do not judge, just watch it and let it go. There is no need to beat yourself up, instead, take a look at the person or the circumstance and try and find value in it. Not what they can do for you, just value in general. By not focusing on yourself all the time, you’ll have your eyes open for the value in others and you’ll also be looking up when an opportunity presents itself. 2) Next, start doing, quit talking. […]

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Think Like a High Achiever – More on the 80/20 principal

Heather — Sun, 22 Sep 2013 00:11:22 +0000

Guys, check out this great article by Britton Brown. It has some great tips on how to apply the 80/20 principal to your life. Here are a few of the highlights: 1) Treat each day at work like you are going on vacation. Only do the things that absolutely have to get done. I do this and it works! 2) As I’ve said before, he discusses focussing on the most important tasks (he calls them big rocks) and to get these out of the way early on in the day. I always have the first hour of my day blocked to work on my “big rocks”. Or else I might never get to them again! http://brittonbrown.com/category/think-like-a-high-achiever-series/page/3/

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Live a Happier Life – apply 80/20 Law to Life

Heather — Sun, 15 Sep 2013 20:50:52 +0000

Short as life is, we make it still shorter by the careless waste of time. -Victor Hugo Check out this arctile by Billy Shall: http://billyshall.com/blog/post/paretos-principle Here are the higlights. With Pareto’s Principle you can: Accomplish More in Less Time By focusing on activities that produce the most results and eliminating or outsourcing trivial activities, you can free more of your time while accomlishing more. Reason: 20% of activities produce 80% of results. Improve your Finances Everyone’s budget is different, but most major expenses are from debt (credit cards, mortgage, student loans). By attacking prior debts and not acquiring new debt, you can improve your finances dramatically. Reason: 20% of financial decisions result in 80% financial results. Make more Money With increased production resulting from more time spent on vital activities, you will have more time to focus on providing more value. The more value you produce, the more money you make. Reason: 80% of income is derived from 20% of sources. Eliminate Stress Find the small portion of activities that produce the most stress and eliminate them. Reason: 20% of stressful activities produce 80% of the stress. Purge the Clutter How many dust collectors do you really need? Try to donate or sell the possessions that you hardly use. They are contributing to 80% of the dust. Reason: 80% of the space on shelves hold clutter. Loose Weight If you cut out the small percentage of foods that contributes the most to weight gain, (fatty foods, fried foods, sweets). And exercise regularly, not only will you loose weight, you’ll have more energy and feel much better. Reason: 20% of foods contribute to 80% of weight gain. Improve Relationships Focus on nurturing the small percentage of relationships that provide the most value (spouse, family, close friends). Moments spent and memories made improve the quality of your relationships. Reason: 20% of relationships provide 80% of value. Travel Lighter Most luggage is not necessary, By traveling light, you eliminate most of the hassles of carrying extra baggage. I personally travel with extremely minimal luggage, (one carry on bag). If you think you might need it, leave it. If you can’t live without it, bring it. Reason: 80% of luggage is excess 20% is essential. Eliminate Information Overload Constant bombardment from news, emails, advertisements, and articles are taking up time and head space. Cut down on the information consumption to the small percentage that is necessary. Reason: 80% of information useless is 20% is crucial. Live a Happier Life More Free Time + Improved Finances + More Money + Eliminated Stress + Less Clutter + Weight Loss + Improved Relationships + Lighter Luggage + Information Elimination = Happier Life!

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The 80/20 Principal

Heather — Wed, 11 Sep 2013 01:35:26 +0000

One of the biggest challenges people face is how to balance work, family, friends, spirituality, obligations and play. As you become more successful, learning how to do this juggling act is even more critical. Let’s face it, most C-level business execs are not happy people. They are stressed, unhealthy and increasingly frazzled keeping up in the ever increasing frenzy of the “rat race”. Even if they have time to stop and realize that they are these things, most figure it is just part of the job or don’t really know how to do un-do it. Historically, achieving the ‘American Dream’ has involved working your ass off, making sacrifices and ultimately choosing career as a priority over the rest of the areas of your life. I’m living proof that there is a better way. I’m an executive of a large company and I work 32 hours a week. I’ve come a long way from 60 hour a week burn out, plugged in 24/7. While it has been work in progress (and still is), the principal below started me moving in the right direction. Ironically I researched the principal in order to become more successful in running the business and ultimately became more successful in running myself. The 80/20 principal is my go-to theory on how to live a balanced life. What is the 80/20 principal? The 80/20 Rule means that in anything a few (20 percent) are vital and many (80 percent) are trivial. In 1906, Italian economist Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country, observing that twenty percent of the people owned eighty percent of the wealth. Pareto’s Principle or Pareto’s Law, as it is sometimes called, can be a very effective tool to help you manage your business and life effectively. The main premise behind the theory is that if you focus on the 20 percent that matters (and only pay minor attention to the 80 percent that is trivial), you can do a lot less and achieve the highest results. Before I even knew anything about this theory, I started unconsciously applying this is my business life. I remember being a fresh analyst and working with a guy that had multiple MBAs and seemed brilliant (just ask him!). He worked 12-15 hour days for weeks, developing a rate development model that he would later need to defend in court. He spent so much time on the minutiae and then ran out of time and spent very little time on the two variables that greatly impacted the resulting rates. I remember thinking (although I was new and really didn’t know much about the subject matter) that there was something wrong with this picture. Sure enough, in court, he got torn apart on the two major variables and very little time was spent all the elements that he had spent so much time on (because they really didn’t have much impact on the overall result!). After that, I started looking at my business cases from a view of […]

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