The 10|80|10 Principle: Navigating Entrepreneurship with Ease
On a recent flight to Denver, I was struck by a realization that parallels the journey of an entrepreneur. Just like a pilot focuses on a smooth takeoff and landing, with the bulk of the flight on autopilot, entrepreneurs can benefit from a similar approach in their business endeavors. This is where the 10/80/10 principle comes into play, a concept as crucial for effective time management as it is for delegation.
Understanding the 10|80|10 Principle
The Pilot's Approach to Entrepreneurship
The 10/80/10 principle mirrors a pilot’s journey. As entrepreneurs, our primary focus should be on the crucial 'takeoff' and 'landing' phases of our projects or tasks - the 10% at the beginning and the 10% at the end. The remaining 80% should ideally operate like autopilot, involving processes that are either automated or delegated.
Application in Business
Initial 10% - The Takeoff: This is where strategic planning and hands-on involvement are critical. It’s about setting the direction, aligning resources, and ensuring that everything is ready for a smooth execution.
Middle 80% - Autopilot Phase: Here lies the heart of the principle. This phase should be about automating repetitive tasks and delegating responsibilities that do not require your direct expertise. By doing so, you free up time and mental energy, focusing on areas where you can add the most value.
Final 10% - The Landing: This is about wrapping up and ensuring the quality and success of the project. It involves revisiting the tasks, making necessary adjustments, and preparing for a smooth transition to the next venture.
The Benefits of Adopting This Principle
By implementing the 10/80/10 principle, entrepreneurs can achieve a balance between direct involvement in critical tasks and efficient management of routine activities. This approach leads to increased productivity, more efficient use of resources, and ultimately, a smoother journey in the entrepreneurial world.
Increased Productivity and Efficiency
Focusing on the 10% at both ends ensures that you’re involved in the most crucial aspects, while the 80% autopilot phase allows for streamlined operations and efficient task handling.
Conclusion: Smooth Sailing in Business
Let the 10/80/10 principle guide your entrepreneurial journey. By prioritizing essential tasks, automating routine processes, and delegating where possible, you can navigate your business with the same precision and ease as a pilot navigating the skies.
Seth Dailey
Seth is the Co-Founder of both The Dailey Group and Keller Williams Gateway in Baltimore, Maryland. He serves as the Operating Principal for the brokerage and as the team leader for The Dailey Group, which consistently helps over 150 families a year. Seth, a Montana native, is passionate about empowering leaders and teaching people to make smart financial moves. Prior to real estate, Seth held his CPA designation and worked as a mortgage lender before joining forces with his wife of 20 years, Alyce. Seth can usually be found at the nearest coffee shop with a personal growth book in hand while scribbling down his next great idea on the back of a napkin.