8/27/2023 0 Comments Vilfredo pareto principleThat means you will have spent eight hours working and being busy without any significant results to show for it. The other eight hours would only create 20% of the impact. If you worked for ten hours, two of those hours would lead to 80% of the results you achieved for that day-the good stuff. The Pareto Principle: 80/20 Time Management Once you realize this, you’ll want to pay close attention to what the good stuff is you’ve been doing and what’s simply frivolous time-wasting disguised as work. Only a few things really matter in a big way. This law says most of what we do every day isn’t helping us achieve the results we wan. So most (80%) of what you do is, by comparison, not nearly as impactful. The Pareto Principle rule means that a few things you do each day (about 20% of your actions) get you 80% of your results and have a significantly positive impact on your life overall. So what do pea pods and the 80/20 rule have to do with you?Įverything. The Pareto Principle was true long before you were born, it holds true today, and it seems like it will always hold true. Pareto finally developed the 80/20 principle after observing the same relationship between majority and minority in his home garden: 20% of the pea pods contained 80% of the peas. A small minority of rich, powerful people still hold most of the wealth while the majority is left with comparatively little. Wherever he looked, he found that a few people had most of the land and wealth while the majority of people had to make do with the rest. To his astonishment, he found a similar 80/20 relationship in all countries and in all time periods he studied. Finding this curious, he conducted several other surveys on land ownership and wealth distribution in other countries over different periods of time. He found that approximately 80% of the land was owned by less than 20% of the population. Pareto discovered this law while studying wealth distribution in Italy. Once we understand this revolutionary concept, our mission becomes to discover what those few things are and do more of them while doing less of the rest. In other words, the 80/20 rule says that just a few things in life make a big impact while the rest make little or no impact. This law states that approximately 80% of inputs (causes) lead to a mere 20% of outputs (results) while just 20% of inputs or causes lead to a whopping 80% of results. You may know about the 80/20 rule, but in case you’ve never heard of it, the 80/20 rule (also known as the Pareto Principle and the Law of the Vital Few) is a power law named after Italian economist Vilfredo Pareto.
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