Do More by Doing Less...
The Pareto Principle is the trick to doing more by doing less. It is a concept that can be applied to all areas in your life...
The Pareto Principle is the trick to doing more by doing less. It is also known as the 80/20 rule, a principle that states 80% of consequences come from 20% of the causes, meaning there’s an unequal relationship between inputs and outputs. You can apply it to any aspect of your life, such as work, business, fitness and health, relationships, and personal progress.
Here are a few examples of the Pareto principle in action:
20% of the input creates 80% of the result
20% of the workers produce 80% of the result
20% of the customers create 80% of the revenue
And on and on…
In 1906, Pareto observed that 80% of the land in Italy was owned by 20% of the population. After surveying a number of other countries, he found the same applied abroad. For the most part, the Pareto Principle is an observation that things in life are not always distributed evenly. The Pareto Principle is one of the most helpful concepts for life and time management.
The 80/20 rule can be used to maximise your results and productivity. 20 percent of your actions or most productive tasks lead to the most success. By focusing on the things that move the needle, you can yield the best outcomes.
How to use the Pareto Principle to maximise your productivity:
Identify all the tasks you have to do
Out of your entire list, identify the tasks that will bring you the most results
Prioritise those tasks and carry them out while you’re at your most productive, ie. early in the morning, before or after lunch etc
The Pareto principle can also help you to make the best decisions during the problem-solving process. By focusing on the top 20% of problems that impact an area of your life, you can create solutions that will bring 80% of the results.
The Pareto Principle is a great guide for how to allocate resources efficiently. By using the Pareto Principle, you focus on the 20 percent of items that help you achieve 80 percent of your success. The numbers don’t have to be “20%” and “80%” exactly. The key point is that most things in life (effort, reward, output) are not distributed evenly – some contribute more than others. Focus on the ones that contribute more.