More With Less — Focus on Impact (Pt. 2)
Do more by utilizing limited resources to achieve tremendous success.
Do more by utilizing limited resources to achieve tremendous success.
Key Takeaways
I define impact by the scope of effect (local vs. global) and the reactions to it.
Find the 20% of tasks that will derive 80% of the impact.
Correct your path by analyzing your impact value.
Define Impact
My last post was on reducing waste. However, while agility can improve your velocity and efficiency, it has nothing to do with your trajectory. It can be like coasting — something doesn’t work.
It reminds me of the scene from Bruce Almighty where, as God, after answering thousands of prayers, he has twice as more to handle. That’s where impact comes into play.
I have a simple test to determine how impactful a task or an action is –
Who is affected (local vs. global)
How will they react (apathetic vs. ecstatic)
Here are some examples –
Introduce new infra for your team — a local impact with positive reactions.
Improve data accuracy from 50% to 80% — a global effect with praising reactions.
General status updates — a local/global result with inert reactions.
If I had to choose, I would work on the second example.
It’s About Balance
Unfortunately, We don’t live in an ideal world where we
will work only on impactful topics. Moreover, we all have chores, assignments, and what our manager asked us to do. So it’s all about balance.
The popular rule I adopted is the Pareto Principle — 80% of your impact (outcome) will come from the 20% of work (output). If out of ten tasks, you can define, measure, and prioritize two that will bring a massive impact — you’re on the right track.
Measure Impact
You defined what impact means in your field. You focused on the 20% that you expect to bring a dramatic impact. But how do you know you succeeded?
I take inspiration from Eric Ries’s feedback loop and use the following framework –
Build — define impactful tasks
Measure — assess their actual impact compared to other tasks.
Learn — adjust your planned tasks
But how can we measure the impact of our actions? While it can be tricky, I split it roughly into these buckets –
New value — new customers, new knowledge, new skills.
Incremental value — upsell for an existing client, 10x an existing skill.
Retained value — a long-time request from an existing customer, an essential skill for your role.
Operational efficiencies — employee turnover reduced, time saved.
Lost value — complexity added, neglected areas.
As long as you define your value unit, you can use these buckets to measure your actions’ impact.
Now, go and optimize your impact to do more with less!
Summary
Focusing on making an impact will help you bring more success. It is valid in all fields — personal, professional, and career.
To do that, identify a handful of tasks you expect to make a dramatic change and prioritize them. Once done, could you look over the results and correct your trajectory ahead?