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Mar 9, 2021

Podcast 15: Applying The 80/20 Rule To My New Business

Podcast 01 on what you can learn from the design startup show

Episode Transcript:

Hey design starters. So today I just want to go behind the scenes on this new thing that I started with Lynn daddy of outsourcing angels. And we, we started this together as partners since December of last year in 2020. And so this just want to like, you know, give you a run through of what I’ve learned.

In this short lesson and hope that it will help you with, with your business as well. So, so this is not our main business. Uh, we have our own main businesses. I’m running a design startup, and Lynn is running her own virtual assistant company, as well as a few other startups. And we have been productizing our company, our services, such that we are able to remove ourselves from the day-to-day that deliver.

We offer. Designs and as well as the, the, the, the operations, and we are also able to find as many clients and work with as many clients as we want so long, we are able to recruit, hire, train the right people to take over our role. So with systems and processes, these are very possible for really any service businesses.

So long, you are able to package them in a way that serves a niche. Right? And well, so, so far how, how things work is. This is not something that you might, might be rendering, right? Because the design startup has been taking so much time. Our design business has been, has been growing and, and, and I, you know, every day we will definitely have to put some time into it.

And I’ve also a family. I’ve, uh, I have two kids and I also do wind surfing as well. So, you know, it’s like, Hobbies and things that I like to do. So what I’ve learned from Ramit Sethi is to put in, you know, using the 80 20 rule. If you’ve heard of it, you, there are different ways to look at an 80 20 rule.

So like for impact, you want to put in just 20% of your time on to produce or to have that 80% of results. Right. So I always use this. To kind of, uh, be as productive as I can and constructive with the results that I want to come up with. So, so that is one. And the other part of 80 20 rule is 80% goes to, of course, most of my time will go to the, uh, the major part of my life.

My, my main business, my family. And, and the more important things that I would think is, is what that drives my my life. Right? So let’s say my main income is in my design business. I would have to put in 80% of my time there first, including my family. Right. Or these are part of it. And then 20% will go to mind this new business with lead daddy and his, uh, which is called product high skin.

So this, this community and coaching membership is where we help others to build businesses that we have been building as well. So use this 80 20 rule and you are able to come up with something. On the side and you will never know what comes out of it, because for now it has been kind of part of my life as well, with this new business.

And, and with this new community, we are helping each other a lot, not just us helping the, the new members, the new members have also shown results from, from what they have been gathering in our coaching sessions. So. What I’m trying to say is the thing that we learn here is how you really split your time up throughout the day and split your time out throughout the week.

So the important, the important thing too to note is I probably said once before in one of the episodes is time. And weekly scheduling of, of your, your task and, and matters that you need to tend to. So within this week, what are the impact activities you want to do to, for example, grow your business. For example, start your site, hobby site hustle, improve in your certain skills in certain areas.

Right. So, so for my myself, myself, me and my husband, we are working together to grow out design business, and myself and Lynn, we are working together to grow the productized kid community so that with more people, more people can help each other. Right. So, how we are doing is we are just recently reserving the 80% to the, the main bulk of business with N with our family, and then the 20% on this other, uh, productized community to, to grow that and help others as well.

So, so within that week, Mondays to say, Thursdays, I will be dealing with my business, work, my team, my family, and. Bringing in more customers to help them with, to scale their business with design and then Fridays, Saturdays and Sundays, I’ll be working with, with, uh, to help on the productized kid tasks. So I will work on that more and, and help to figure out where I can help in those areas.

And part of weekends, I will also be out windsurfing, you know, my hobbies with my kids family day. So, these are ways you can figure out how you can do things that bring in an income and also do things that you will feel fulfilled and really contented with what you want in life. Right. So that’s it for today and I’ll see you tomorrow.