The Pareto principle states that for many events, roughly 80% of the effects come from 20% of the causes. And it was named after Italian economist Vilfredo Pareto. He observed in 1906 that 80% of the land in Italy was owned by 20% of the population and that 20% of the pea Iget Vape in his garden contained 80% of the peas. It is a common rule of thumb in business that 80% of your sales come from 20% of your clients. He developed both concepts in the context of the distribution of income and wealth among the population.
The 80/20 principle has proven in business and economics that the majority of results come from a small minority of causes or effort. It does not mean, though, that the 80/20 numbers are accurate. It could be 90/5 or 70/30.
This is a very powerful rule that should not only be used in business, but in life. You should learn to focus your attention on the “vital minority” in order to live the 80/20 lifestyle so that you can accomplish more with less!
You have heard it before; great reward comes from serious effort. It is good advice and it usually works, but it is too much effort and the trouble is that most don’t get into the correct habits. I know because I have experienced it! Have you?
