Your World Within Podcast by Eddie Pinero - The 80/20 Rule (Pareto Principle)

Episode Date: June 8, 2020

In this episode I talk about the 80/20 rule that states: 80 percent of our results come from 20% of our effort. Looking into my own processes and routines, I examine which areas I am being truly effective and which may need to be eliminated or refined. Life is a game of repeated self-examination and adjustment, and understanding your "effective 20%" is a huge step in being the best you can be.

Welcome to your world within daily. I'm Eddie Panero. In this episode, we're going to look at Pareto's principle, the 80-20 rule, and ask ourselves, are we being efficient for the sake of being efficient, or are we truly being effective? So good morning. Lots to talk about today in a short amount of time, but I think we can make it happen. So yesterday was the first day that I didn't post a podcast in, I think, 77 days, which is a lot of time. long time. And I wanted to, it was after reading four-hour work week, actually, the concept of spinning your wheels, Pareto's principle, how, you know, 80% of our results come from only 20% of the things that we do, right? And obviously that's not 100% all the time, but there's a lot of validity and truth to that. And so it made me wonder, right, what's my 20%? And as I was going through all the things that I do in my life. You know, the podcast came up, and I started thinking, man, what are the leverage points here?

First of all, in the macro, is the podcast part of my 20% that's bringing 80% of my results? And the truth is, no, not yet. It's not. And that's when you have to make a decision, do you believe that it will be and can be? And I do. I do, which is why I'm 100% going to continue doing it and changing and evolving and growing, right? I'm going to keep adapting this thing until it becomes a monster because that's, you know, that's why play the game if you're not playing to win, right?

So there's a few things I looked at. And I'll give you some details, not for the sake of, you know, for giving you the ins and outs of my life and every intricacy of my business plan, but hopefully just to give you an idea of how I'm thinking so you can sort of take that and use it with whatever you're doing, right? So regarding the podcast, there's a few things. One, weekends. people tend to listen way less on weekends. And my thought originally, which I think was a good thought, you know, was I think was a good thought.

I like that. It was, hey, well, there's a hole in the market, right? Let's, you know, no one else is there. You know, a lot of my favorite podcasts don't post on weekends. Boom, I'll make it happen. I'll be the podcast that's there. But I think the reality is people don't listen on weekends for the most part, right? So I can try and, you know, jam a square peg into a round hole or use those days to, you know, plan and, you know, ramp up what I'm doing throughout the rest of the week.

I think that would be how to maximize it. I think one thing that scares me is monotony, right? I don't want to do the same thing every day. So how can you mix it up? How can you make it interesting? I mentioned guests. Well, this week, I'm bringing on first guest, a friend and mentor of mine, Rod Lake, who he's the founder of Airborne. He's a very accomplished Hollywood producer and just, most importantly, just an incredible guy with a lot to say.

So I'm excited to bring him on and have him share his story and just essentially continue to evolve. You know, like I said, if you're not growing, you're not adapting, you're dying, right? So long story short, I think this podcast can and will be the 20, but I'm happy that I looked at it in that light. I'm happy that I was able to see, well, right now, dude, it's not. It's not bringing you your greatest results. Other things are. But it can. It can do that.

So keep working, keep manipulating, adjusting and growing. And then I went into other things, right? It's funny on YouTube, the videos that bring in the most subscribers, the most revenue, the most eyeballs, everything, is simply taking old speeches, packaging them together and re-releasing them. It's amazing. And it's something that if you don't take the time to look at, I never would have known. You know, I work on new material. I put it out and it does fine. I don't know if it's an algorithmic thing.

I'm not sure what it is. But the second I take 10 speeches or eight speeches and I put them together and, you know, tie them together with a theme, they blow up. And they reach, you know, tens, sometimes hundreds of thousands of people and end up, you know, really having an impact. So, you know, you need to know that as a creator. Same thing with my clients. it's funny how this works. I think 20% or 30% of them bring in way over 80% of my results. And the funny thing is they are the easiest clients that I have. So it's like, well, start looking at the ones that are challenging, right, are taxing and are not bringing in those results because it

might be time to say no, right? To part ways. And so that's the deal in totality, right? I wanted to emphasized almost like a laundry list. I put out everything I have going on and I said, what am I spending my time on? And what is actually adding the value? And it never fails. There's always things that sneak in there that you think are useful. You think are elevating what you're doing. And then when you look at what's bringing in the results, what's getting views, what's generating revenue, or even what's making you have. right? Let's not ever forget that. You know, there are things that don't check any of those boxes you're doing just for the sake of doing. And I like that. I like the simplicity and the

straightforwardness of the Pareto principle. Helps us focus on the 20%, right? And what's the 20% of the 20%? Right? You can really narrow that down and create this sort of view and roadmap for yourself that puts you in a position to succeed. I feel like I don't go an episode without saying you know, there's, it's like two things. The first thing's being aware and the second thing is application. And in taking time to become aware of what you're doing and what's working is huge. But it's something we don't do. Clearly, right? I mean, I went 70-something episodes and I always knew, like I had that feeling. It's like, Ed, let's go, let's go. Let's go. let's make changes, let's adjust, but it becomes challenging enough to come up with the topic

every day, right? So you sort of become immersed in this world, and it becomes routine. And routine is great, but it can be so dangerous because definitionally, you know, it means that you're not thinking as much as you could or should be. You become automated. And, you know, we need to be aware to make change to grow to become the best people we can be so that is my deal today paredos principle guys what is your 20% and how are you going to double down there what are you going to cut away how are you going to make today this week this month this year the best of your lives i hope this helped and if it did i'd greatly appreciate you to subscribe to rate leave a review helps me get this out to the world that is my goal and i'll catch you

tomorrow. Thanks for watching.