How to Skyrocket Your Positive Results Using Price’s Law
At Mental Strength we refer to the Pareto principle often.
That is, your biggest results in life often come from focusing on doing less - but more higher-value activities.
Said the opposite way ... 80% of your activities bring you just 20% of your results.
The Law of 80/20 is infamous and implemented by the highest achievers as a framework for how they structure their time.
You probably use the Law of 80/20 already.
But there is another, lesser-known and possibly more powerful productivity principle. That's because it focuses on actual results.
It's called Price's Law.
And it says that 50% of the work is completed by a small group.
Specifically (and for the fellow math geeks), Price's Law says that the square root of the total number of people produce 50% of the results.
For example, if your office has 40 employees, 6 create 50% of the output.
If there are 10,000 employees, just 100 create 50% of the results.
Think about a 10-person sales team... Do the top 3 create 50% of the sales?
That's Price's Law.
Here's a big macro example ... who holds 50% of all the money?
Arguably, there's about 15-20 leading banks. But only 4 banks that hold 50% of the money. That is, the square root of 16 = 4.
The top 10 ATP money makers, starting with Rafael Nadal (#1) thru Gael Monfils (#10), collectively have earned $74.7 million in prize money in 2019.
How much have the top 3 earned this year?
A whopping $38 million.
That's 51% earned by this talented group known as "the square root" of tennis's top 10 money earners.
This is Price's Law in action.
What does this have to do with your Mental Strength, productivity and your ability to earn an outstanding income?
More than you might think.
Chances are high you are a highly productive person now (because highly productive people tend to engage with MentalStrength.com), but if you aren't there just yet, decide now to get into the top group of productive people in your work place.
That is, the small group that produces the most results.
Ask around the office who the most productive people are. Ask the bookkeepers, HR, the VP's, the CEO, the owner and the front desk staff.
Again, chances are this may be you. But, whether it is or isn't, take the most productive people out to lunch. Find out what they are doing and why they are so productive.
Then, focus on doing what you are best at and do more of it. Combine your skills with strategies that the most productive people do (learned from your lunch meetings). And get to work.
Soon, you'll be the one known as, "The most productive person in the office."
If you need anything along the way, we are happy to help!Until Next Week,
Your team at Mental Strength