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Plenty with Kate Northrup

Episode 167: The Secret to Making More Money While Working Less

Plenty with Kate Northrup

Kate Northrup

Personalfinance, Self-improvement, Entrepreneurship, Nervoussystemhealing, Education, Womensempowerment, Wellness, Pleasure, Metaphysics, Spirituality, Abundance, Embodiment, Productivity, Timemanagement, Business

4.8697 Ratings

🗓️ 14 January 2020

⏱️ 43 minutes

🧾️ Download transcript

Summary

When I was a senior in college, Tim Ferriss came out with the first edition of The 4-Hour Work Weekand I was fascinated. As a productivity junkie since the age of 14, I couldn’t get enough. I devoured it. One of the concepts in particular changed something in me forever. The school system had taught me to become well-rounded. The college application process had groomed me to fill in all of the areas and how important it was to excel in academics as well as the arts, athletics, good citizenship, and any other extracurricular activities I could possibly pack into my schedule. The pursuit of being good at all the things all the time left me feeling wrung out. Enter Pareto’s Principle. The concept is simple: 80% of your results will be caused by 20% of your efforts. Wait. I didn’t have to be practically perfect in every way? What a freaking relief! For the first time, I had permission to go all in on only the things that I was the best at that got me results and to stop trying to be good at everything. And, if I did, I would actually get better results. This felt like the closest thing to magic I could have possibly discovered. It wasn't until my early 30’s when I was recording a lesson on Pareto’s Principle (aka The 80/20 Rule) that I realized I’d never found a practical way to apply this theory. I wanted a list of my 20% of activities so that I could stay focused on them and not go back to my old way of being kind of good at a lot of things. I wanted to really rock a few things to amplify my results. Everyone else seemed to just be talking about the theory, so I came up with a simple way to get a list of the 20% of activities that I needed to zero in on to get 80% of my results (and by default a way to get a list of the 80% that I could let go of, outsource, or simply not give my all to). If you want to achieve more by doing less, the single most important thing you can do is get clarity on what the 20% of activities is that gives you 80% of your results. Turns out you can apply this rule to lots of other areas, too. • 20% of your customers will bring in 80% of your revenue. • 20% of your customers will give you 80% of your headaches. • 20% of your revenue streams will bring in 80% of your money. Etc.! Want to know the simple way I came up with to figure out your 20% and all of the ways you can apply this rule to your life and business so that you can reduce the number of things you’re doing while increasing your results? You’re in luck because that’s what this week’s episode of The Kate & Mike Show is all about! Please don’t just listen to the episode. Do the exercise. It will take you less than 10 minutes and will give you years of your life back. I swear. Once you’ve listened, take a screenshot of the episode and tag Mike and me on social media to let us know what your 20% is. We can’t wait to hear from you! Get ready for some serious life-giving clarity! You can get your own copy of Do Less and still receive incredible bonuses at http://katenorthrup.com/book! Kate wants to hear from you, and you can post about your #DoLess experiences on Instagram, DM her (@katenorthrup) or email [email protected]. Would you, or a company you know, be a good fit to sponsor The Kate & Mike Show? If so, let’s talk! You can email [email protected] regarding current sponsorship opportunities. Show notes and links for this episode can be found at http://www.katenorthrup.com/podcast.

Transcript

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0:00.0

Hi, I'm Kate Northrop.

0:03.6

And I'm Mike Watts. And we're partners in life, love, and business.

0:07.7

Welcome to the Kate and Mike show, where we share insights and interviews on entrepreneurship,

0:12.5

relationships, parenting, self-actualization, and making a life not just a living.

0:21.6

Hi, welcome to the Kate and Mike show. This is Kate. This is Mike.

0:27.4

All right. So, Hun, do you want to start with a listener shout out?

0:32.1

Sure. Well, before we do that, I am really excited about this particular topic because I would say if we look back over

0:39.6

the last several years since we've had kids and since our time has gotten constricted, I would say

0:46.8

we just like have less freedom and ability to do whatever we want when we want like before we had

0:52.4

kids. The principle we're going to teach you today, for me at least, I can only speak for myself,

0:57.9

has made the biggest impact in terms of making the most of the time we do have.

1:03.0

Because, you know, we've all heard that phrase, if you want something done,

1:06.5

ask a busy person to do it.

1:08.1

So people who have structure and limitations on their time because they

1:13.6

have a lot going on tend to get things done because they have to. And the principle we're about

1:19.8

to walk you through is going to help you to become more efficient and effective with your time

1:26.5

and get a bigger result in fewer hours with less

1:31.3

energy expended. So that's where we're headed. Stay tuned. But for now, let's do a listener

1:37.3

review. Great. This is coming from Canada. This is Dr. Sarah Green, who says she loves the podcast. My husband and I are also in business

1:47.6

together with kids, so appreciate hearing from the two of you who are in a similar situation

1:53.4

and looks forward to the podcast every week. Amazing. Yeah. I love that. So... Thanks for listening, Sarah.

2:00.6

Yeah, thanks, Sarah. You can send me a DM on

...

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