– The 20/80 Principle in Action to Become a CRAFTed Leader –
In the bustling corridors of a small tech enterprise, Peter, the Managing Director, was swamped with responsibilities. Amidst the chaos, his ability to concentrate was slipping away. He realised that to steer the company toward progress, he needed to regain his focus. Embracing the principles of CRAFT Leadership, Peter delved into the concept of FOCUS, a crucial facet highlighted within the framework. He aimed to identify the pivotal 20% that could yield 80% of the company’s progress and results.
“How can you become the leader of few things instead of the doer of many things?” (Maxwell, 2015)
Taking a step back, Peter reviewed many projects, initiatives, and tasks in play. It became apparent that not all endeavours contributed equally to the company’s growth and progress. He observed that a handful of clients generated the lion’s share of revenue, a select set of products drew the most traction, and a few core team members were catalysts for innovation. Peter initiated a strategic shift. He redirected his energy toward nurturing those key clients, amplifying the visibility and development of high-impact products, and empowering and investing in the core high-performing team members.
One instance showcased this transformation vividly: the company’s marketing strategies. Peter and his team allocated resources primarily to digital marketing channels, assuming they all held equal weight. However, after analysing the data, they discovered that a particular social media platform generated the most conversions while requiring minimal investment compared to other channels. Embracing this insight, they reallocated their marketing budget and efforts to amplify their presence on these platforms, tailoring campaigns to engage their audience better. This focus shift led to a significant spike in brand visibility and customer acquisition, affirming the potency of the 20/80 principle. Through this intentional focus on the vital 20%, Peter witnessed a remarkable surge in the company’s growth and efficacy. His regained focus not only enhanced his leadership but also inspired a culture of concentrated effort within the organisation.
“Where focus goes, energy flows.” Tony Robbins
Secondly, further delving into the company’s strategy, Peter took a critical look at the existing client portfolio and potential targets. He realised the importance of not just serving clients but serving the right clients. By conducting a thorough analysis of client interactions, feedback, and profitability, Peter identified characteristics that defined their ideal clients with laser-sharp focus —those who were not only profitable but also aligned with the company’s vision and values, which was also important for him. This insight led him to refine the company’s targeting strategy, focusing on attracting and retaining clients who offered the most significant potential for mutual growth and impact.
This recalibration towards ideal clients involved tailoring communication, customising service offerings, and aligning innovation efforts to meet the specific needs and expectations of these key accounts. By becoming more selective and intentional in client engagement, Peter ensured that the company’s resources were invested in relationships that were most likely to yield high returns and foster long-term partnerships. This more strategic focus further consolidated the company’s market position, driving deeper engagement with high-value clients and attracting new ones that fit the ideal profile. Peter’s approach to re-evaluating and pinpointing key clients exemplified a strategic pivot that reinforced the foundation for sustainable success and growth as part of applying the Pareto Principle.
The lesson learned was simple yet profound: amidst the whirlwind of tasks, identifying and amplifying the crucial few elements led to exponential progress and development. By integrating the essence of FOCUS within CRAFT Leadership, Peter not only rekindled his own leadership prowess but also steered his company toward sustainable success. In the realm of CRAFT Leadership, recognising the pivotal 20% and channelling efforts towards them can be transformative, aligning actions with outcomes and propelling organisations toward unparalleled growth and accomplishment.
Reflection Points:
- Ask yourself constantly: What is the 20% here that is leading me to the 80% results, progress, and success?
- What prevents you and your teams from focusing on the 20%?
- Who are the top 20% of your people/clientele you should focus on?
- Where and how can you use the Pareto Principle in your day-to-day activity, in your client portfolio, and in your leadership?
- If tomorrow’s 20% (tasks, events, focus) will differ from today’s 20%, where will they come from?
#leadership #CRAFT #focus #pareto