How to Get Things Done? The Secret is Revealed. The Prioritization Matrix.

A guaranteed crossroad that we will all face in life is knowing what to prioritize. It is incredibly easy to get distracted and spend hours doing frivolous, unimportant things. Such as scrolling Facebook, Twitter or even binge watching Games of Thrones. Another problem is tackling small insignificant tasks. Such as spending hours to find that perfect office desk or finding the perfect font for your newsletter’s heading. It is a process, and in some instances, an art of deciding where our focus needs to lie in order to achieve the best possible outcome for ourselves, our audience, and our projects.

Why?

Unfortunately, effective prioritization escapes many of us, and in light of that, we have found a tool—a true gem—that will help us all become better at it. To do this, we must first realize that there are priorities, and everything can’t be the priority. If we start with that truth, we will be able to move forward. Realizing what is truly important and prioritizing them in your day is critical. This action can help ensure that those tasks won’t be thrown to the wayside while you labor tirelessly on unimportant matters. The following method can be utilized in multiple activities. They can range from cleaning your home to developing a project plan for new IoT product you plan on working on. Say goodbye to unfruitful work days and say hello to a productive life.

The 2×2 Prioritization Matrix

The 2×2 prioritization matrix is a tool that allows anyone to analyze what risks and important factors are present in order to weed out the completely unnecessary amount of backlogged tasks on your to-do list that have accumulated. We can honestly say that it has spiraled out of control and this can be a source of unneeded stress. In its simplistic form, we mark the effort needed on the horizontal axis from low to high, and the value of the task on the vertical axis from high to low. Properly measuring effort needed is simple. How much energy do you put in to deliver to your customer?  When it comes to value, however, there are a few factors in evaluating true worth you can deliver to your customer.

• Reach – how far will the impact go?
• Customers – who will experience this impact?
• Revenue – what will we gain monetarily?
• Acquisition – will we gain new customers?
• Efficiency – Is it convenient for our customers?
• Brand – Does it advertise us well?

  Your goal as a team is to identify where all of your projects need to go on the graph to determine how you are going to proceed in prioritizing your goals and plans. This simple step can pay dividends when developing a project plan for new products. Once you’ve sorted through your backlog and identified where the tasks need to go on the graph, you can identify where you need to put your focus and priority based on this 2×2 prioritization matrix.   The graph below describes exactly what each quadrant means to you.  

Why aren’t you doing this now? (High Value and Low Effort)

This is what you should be working on immediately in order to get a quality product out to your customers.  It is not only the easiest, but also the most profitable option.  

Break Down Quadrant (High Value and High Effort)

Important projects that may require more effort (which isn’t a bad thing).  It simply means that you need to break these down into more manageable jobs so that the effort required can become manageable.  

Friday Afternoon Quadrant (Low Value and Low Effort)

Not as important, but also not as stressful.  These are the projects that you do during downtime or to fill in gaps.  Maybe these are routine and simple tasks that are always present in your business.  

Don’t Even Think About It Yet (Low Value and High Effort)

These tasks must simply need to be re-thought out.  Yes, these are great ideas, but if they’re on this plane, they need re-structuring.   The 2×2 prioritization matrix is designed to be simple so that it can be re-visited and brainstormed multiple times in order to see that everything is continuously balanced and prioritized.  This lean startup inspired model will also foster teamwork, motivation, and communication between individuals and departments so that everyone is on the same page when it comes to creating a project plan for new products and delivering the best product at the best time in the best way for your consumer.      

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