Question: What are some tips of 20/80 rules in your daily life decisions?

This is the question I was asked during a talk I gave to Seed the Future Program organized by Shinhan Future’s Lab Vietnam.

Question: What are some tips of 20/80 rules that you have mentioned in your presentation in your daily life decisions?

Watch the full talk here: 8 + 1 ENTREPRENEUR THINGS TALK.

Answer: Okay. Okay. One example is that I’m a very lazy person. Very. I prefer not to do anything. Just stay very lazy. So whatever I do, I think very carefully and I have to do it the most effective way. For example, when I design my house, I know that I need to clean up the house later on by myself, do maintenance. So one of the criteria I asked the architect is that, hey, you helped me to design my house with one condition that if I have to do that (cleaning job) all by myself, I can do it easily. So it comes out that the floor needs to be flat. There are not a lot of things in the house. So that if I have to clean up, then there are fewer things for me to clean up. The floor is flat, so it’s easier for me to use robot or even myself to clean. So, I think that most of the time, I mean, 80/20 is about like this: Most of the time we put a lot together, get a lot of things, bring a lot of things into our life, but they are unnecessary. They are 80% of the things that you have around (you) that may not be that necessary and not be that needed. Then if you understand about 80/20 rules, then you can remove those 80%. So that you can keep your 20% of the things around you, so that you can have more time to work, or to spend quality time with your family or do the meaningful things.

So, it can be applicable (to) many things, on time management. So time management is about doing things effectively, right? If you, if you spend a lot of time, and you can finish your job, that’s good. Because you spend a lot of time. If you spend a lot of time, but you can’t finish, you cannot finish your work, that’s very bad. But as an effective leader, I would urge you that you spend very less of your time, but you still can finish your job. How do you do that? It’s about your wisdom. It’s about your knowing. It’s about advancing yourself each and every day. It’s about innovation. And that’s how every one of the companies that promote innovation. So to do differently, so that you can save time, save effort, save resources. And then if you can do that during your work, it’s that you work hard only 20% of your time, but then 80% (remaining) you can do something like supporting, no name kinda work.

And basically that that’s happening in our real life, right? Did you remember your day? You go to the office and many times that you have to do unnecessary talks and you don’t have enough time to finish your job and you rush until the last minute. So you stay late at the office like seven, eight or even nine, 10:00, and you only finish your job within 8 to 10:00 at night. So, basically you only need that much of time (to really work). I don’t think that it’s 20%. But then if you’re not mindful, then you would waste a lot of time. So be careful about that.

So those are some of the simple tips that you can use. Or the other thing is that clients, for example, then mostly then your 80% of the revenue coming from your only 20% of clients. So that worked very well with my company. So we know that that’s something that we need to focus on. So where is our top 20% of the client? Because the top 20% of the clients (generates) 80% of the revenue income of the company, so I need to really pay a lot more attention to that top 20% of my clients. All right? So I can go on forever. But then I think that this is a few examples so that you can have the idea. But then there’s a book around that you can search. The book is in Vietnamese as well about Pareto rule. So there’s a few books about that. And you can find the one that you think that is suitable for you with the high rating thing or whatever, a lot of 5 star (rating). And you can get that and you can learn the basic idea.

Viet Hung | A Happiness pursuer | Author of The Happiness Journal, Tản mạn về Hạnh phúc and NGẪM CAFÉ 
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