Priorize your tasks with the cash cow matrix
2 min read
By failing to prepare, you are preparing to fail.
Benjamin Franklin
So many things- that you want to accomplish, that you have to accomplish. Your to do list gets bigger and bigger every day and your calendar looks like the crayon box of a 4 year old. There is simply no white space. The most valuable resource in your toolkit is limited- your time. So you have to decide which goals you really have to and want to accomplish.
The Cash Cow Matrix (a business analysis tool) can help you to prioritize your tasks and goals. So you can put the energy and time where it really be valuable.
According to the so-called “Cash Cow Matrix”, a distinction is made in the business context between low growth/ low market share businesses (Dogs), low growth/ high market share (Cash Cows), high growth/ low market share (Question Marks) and high growth/ high market share (Stars) businesses.
The growth in this area is both significant personal and professional growth, while the profitability describes the ability to perceive opportunities efficiently.
“Dogs” are therefore the tasks that require a significant investment of time and energy to achieve success and therefore carry the risk of opportunity costs, while “cash cows” are the tasks that can be pursued quickly and efficiently without stress and still bring success. “Question Marks”are the uncertain areas of life. We can probably grow through them, but the profit is uncertain. We therefore need more information before we devote ourselves to these areas of life. “Stars” , on the other hand, advance us as people personally and professionally while being profitable.
Therefore, carefully examine the areas and tasks of their lives. What is needed to succeed? And do you really want to put your time, energy and attention into these areas?
Action is a high road to self-confidence and esteem. Where it is open, all energies flow toward it. It comes readily to most people and its rewards are tangible. The cultivation of the spirit is elusive and difficult and the tendency toward it is rarely spontaneous, whereas, the opportunities for action are many.
Bruce Lee