80/20 Rule- The Pareto principle
80/20 Rule
The secret to your productivity
The 80/20 rule is recognized as Pareto principle it refers to that 80% of consequences occur from 20% of causes. The Pareto principle is also known as the law of the vital few and the principle of factor sparsity.
Are you worried about why even after working more you get fewer results and where is your productivity lost?
The 80/20 rule can be applied by anyone who wants a better outcome from doing less to achieving more. If you put 20% of your efforts into your core tasks it will reap 80% of your results. You need to implement the 80/20 rule in your daily work schedule to achieve 80% of your results. The 80/20 Concept is generally applied to the field of business and economics but we can apply it to any situation and stage in life starting from being productive in our studies, and daily work to managing big business goals.
The 80/20 Rule
There is an association between inputs and outputs. If you wish to achieve anything you always need to have more output from the input( efforts or resources). So, The Universal Mismatch of balance between inputs and outputs was referred to as Pareto Principle.
Let us have a look at some Pareto principle examples:
1 You may own several outfits but 80%of the time you wear the same outfit. ( How often do you adore these same outfits? )
2 You might have numerous applications on your mobile phone but 80% of the time you use some specific apps.
3 You may Water plants in your garden, but one plant will always be your favorite to take care of 80% of the time ( 20%)
4 When you talk to people 80% of the time you talk to the same 20% of people you are happy around.
Suppose you need to improve your time management schedule, you can Just Focus on completing Your important tasks every morning and see your time being productive after a week. So, consistent efforts reap a satisfactory result.
80/20 BOOK
Let me explore you through the key takeaways of the book 80/20 rule to help you know better about this amazing principle.
The author of this Book Koach gives us an insight into how the Pareto principle will benefit us and help us to make our life more productive.
● 80/20 Thinking
If you think 20% of the time positive about situations and life, 80% of the time positive things will happen in your life. Even the law of attraction states the same way here. An old proverb' what you think you become' works on the same concept too. You need to recognize what makes you think and attract positives.
●80/20 Happiness
Happiness doesn't refer to just money, happiness is much beyond that. 80% of our happiness is achieved 20% of the time. So you need to recognize what makes you happy.
● 80/20 Investing
20% of the efforts are spent on good research. You receive 80% of favorable results and accumulate wealth through investing.
● 80/20 Success
If you inbuild a consistency of doing your 20% most important tasks daily, you receive 80% of your results. That is how success is achieved, doing small tasks consistently.
●80/20 Work (Pareto principle at work)
The reason the best people get underpaid and the worst people are underpaid is because of the 80/20 rule. So, start engaging in an organization where you get maximum benefits. As a worker, engage in one work where your chances of getting more results are high.
● 80/20 Winning
To win, you must ensure to spend time with people, the right team, and a good environment. You need to spend 20% of your time with the right people to get 80% of favorable results.
● 80/20 Time management
If you manage 20% of your time well with your most effective tasks, you reap 80% of your results. The Pareto principle is used for time management and to increase productivity. So, start focusing on being productive with your time.
●80/20 Relationships
Your 20% of good relationships constitute your 80% of positive relationships. So spend 20% of your time around good people.
So basically, This book tells us that only doing hard work for longer time durations isn't the fact but Identifying the relevant areas of work will help us get more results with less effort.
Core Idea
The core idea of this rule is to identify the most important core field of work and then work upon it if you focus on the core tasks you just need to put 20% of your efforts and will observe significant results (80%).
80/20 Rule Background
The 80/20 rule was earlier used in macroeconomics, to state the distribution of wealth. The Pareto principle was introduced by Vilfredo Pareto in 1906, he was an Italian economist.
He observed that 20% of the pea pods in his garden were responsible for 80% of the peas. Then in 1940, the 80/20 rule was applied by an operational manager to have good control over the output of his business production. He also observed that 80% of damage to products was caused by 20% of the main core problems.
When to apply the 80/20 rule( PARETO PRINCIPLE APPLICATION)
As it is stated that this concept of 80/20 can be used in any aspect of life, in an Article, Carla talked about how she will apply the 80/20 rule in her blog project.
So let us know what he decided using the 80/20 Rule:
Which resources help to gain 80% traffic?
Who is the main 20% audience?
Which post consists of 20% of the best blog topics?
And there were certain questions that you could have asked yourself when you wanted to ask. A startup or expand your existing work or business. So Pareto principle teaches us that questioning and analyzing the outcome helps us have favorable results. The Pareto technique is very useful in deciding technique whether you wish to take the small or big decisions about your business or life. In every aspect understanding how your specific tasks will give you more results.
I hope the Pareto principle gives you clarity on how can you achieve more by doing less. Do share your views about how the Pareto principle or 80 to 20 principle would help you.
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Nicely written with many takeaways. Thanks Ritika
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