In the year 1906, the Italian economist Wilfredo Pareto noticed that 20% of the Italian population owns about 80% of the country’s assets. This observation was called “Pareto principle” or the 80/20 rule.
How can you benefit from this concept? What is the practical meaning of this principle in your life? Productivity.
20% of the things you do create 80% of the results you get.
The other 80% of your actions are just background noise covered with fog that has a goal of blurring your vision. Therefore, you have to get rid of this noise and put the emphasis only on the actions that help you the most.
The way to do it is by making the right elimination and keeping only the important and most relevant information that serves you the most to reach your goal.
The Pareto principle simply says – Don’t try to do more. Try to do more of the effective things.
Here I want to mention an important thing that is imperative to the 80/20 rule: focus.
- You have to focus on your goals and wishes.
- Then you need to make the hard decision and get rid of the things that don’t match your goals (some of them might be very hard, but they are necessary if you want to move forward and succeed).
If you take a close look at all of your daily actions, only 20% really matter and bring you results, so try to identify that 20 %, focus on them and then improve them, so you will achieve greater manifestation.
When you feel like there isn’t enough time to complete your daily tasks, remind yourself the 20% of the actions that actually get you somewhere – those should be your priority and all the rest can wait.
In the business:
20% of your workers, of your products, of your customers – produce 80% of your results.
For example – try to spot the strongest 20% of your products and services and amplify them. In addition, identify the unnecessary products and try to upgrade them to the 20% group, or cease the creation process because it requires time and recourses and doesn’t bring the desired results.
In your relationship:
What is the 20% that makes your relationship wonderful and harmonic that causes 80% of the positive experiences in the relationship?
What is the 20% that brings disharmony and is a total waste of time and energy? Look for the negative 20% and eliminate it.
Strengthen what’s strong; increase the success cycle; be aware and do more of the things that bring 80% good results and less of the things that bring 80% negative results.
What is the 20% of the things you do that creates 80% of your daily/weekly/monthly/yearly happiness? Focus on that. What you focus on expands in your physical reality.
How can you know if you are working on the 20% that actually matters?
- The things you do make you feel good because you know it’s beneficial for you.
- You delegate things you are not good at.
- You are using your creativity.
How to tell when you are NOT doing the important things?
- You are doing things that others want you to do.
- You are doing things you are not good at.
- You are doing things you don’t enjoy and that don’t serve your goals.
- You are doing things that always take you lots of time and rob you of your energy.
You can apply this principle to your life in any field you choose. Recognize the actions and choices that are essential to your life, put your emphasis on them, and your results will enhance respectively.
I truly hope that 20% of the things I wrote in this article will bring you at least 80% of benefits to your life. 🙂