Purchasing Innovation: Applying the 80/20 Rule to Avoid Overwhelm

Are you a technology enthusiast like me? I've always been captivated by the wonders of technology, especially during my time in the Telco industry when Nokia revolutionised the market with their tiny 3 series phones. Embracing technology has been instrumental in propelling our world forward. In a recent vlog, I discussed the overwhelming nature of technology and how we can leverage it to gain certainty about the future.

Now, I have a confession to make—I am guilty of buying an abundance of tech apps and software that often end up collecting digital dust. Sound familiar? I bet many of you can relate. It's easy to get caught up in the excitement and potential of these tools, but they often go underutilised. So, here's my first tip: create a registry of all the tech you purchase. I personally use a Google spreadsheet in my G Drive, where I track the apps, passwords, purchase dates, prices, and renewal details. Trust me, keeping tabs on your tech investments is crucial to avoid accumulating a pile of unused resources.

One of my weaknesses is Appsumo, a site that offers incredible tech deals. I've spent a significant amount of money on Appsumo, only to discover that I truly use a mere 20% of the tools I've purchased. While the low cost may seem justifiable, it eventually adds up, leaving me questioning my decision-making. However, I must admit that there are a few standout tools I genuinely love and consistently use.

For those engaged in digital marketing, I highly recommend hunter.io as a way to find email addresses and connect with the right people for my speaking and business endeavours. Another tool I adore is Tekmatix, which serves as an all-in-one CRM solution. By consolidating my apps and processes into one platform, Tekmatix streamlines my operations and significantly reduces the clutter of various tools.

Additionally, I've found warmupemail.io invaluable for preventing my email campaigns from landing in spam folders. This tool ensures that my emails reach their intended recipients, saving both time and money spent on email service providers.

Returning to my main point, let's delve into the 80/20 rule. When considering new technology, it's essential to assess how it will serve you and your business in connecting with customers. Ask yourself: Will this technology truly benefit me? Will I dedicate enough time to learn and implement it effectively? In most cases, you'll find that you won't generate 80% of your revenue from these new tools. It's crucial to dial back your enthusiasm and consider whether you genuinely need as much tech as you initially thought.

To ensure you stay organised and financially aware, I strongly encourage you to create your own spreadsheet to track the tech you use, including renewal dates, costs, and functionalities. This simple practice will significantly simplify your life and prevent unexpected charges from appearing on your credit card statements months down the line.