Summary of Pareto Principle
I still remember the first time learned about Pareto principle. Basically, Pareto principle says the outcome of 80% basically from 20% input. So like the meme below, Chuck Norris always solve his 20% of his problem to overcome the 80%. Want an example?
The Pareto principle used in a lot of sectors; especially in the life, you can also apply this method. For example, if you have a lack of sleep then always late and not focus on your work/study, what is the root cause of this? Is your sleep does not have a good quality or is there any problem? The root cause e.g. watching TV series until morning is 20% of your problem. The 80% portion such as lack of concentration, unable to focus is only the outcome.
Pareto principle was introduced by Italian Economist, Vilfredo Pareto. Pareto found out that there is an unequal distribution of wealth in his country. Thus, his findings that there is 20 percent of people that owns 80 percent of the lands¹.
On the other hand, people continues to learn about this method and found out that this Pareto principle also applies in our work and life. What is the exact example of Pareto in life?
Pareto In Life
In 1989 World Bank released a shocking statement. World bank declares that 20% richest people on earth have 82.70% all income in GDP (Gross Domestic Product) calculation². Can you imagine that?
Even though, there are a nearly unlimited number of examples that we can apply the 80/20 rule to in our working and personal lives; Most of the time, we are referencing Pareto’s Rule without applying complicated mathematical analysis to the situation.
There are some areas of productivity that related to 80/20 rule that you can apply in your life. The more experienced you are, the more Chuck Norris will be proud of you. Here some tips on productivity from him:
Tips 1# Scrutinised your Important To Do List that Affected Most of the Day.
Tips 2# Your Best Productivity Time only 20% from All – Maximise it.
“When you are seeking top quality, you need all 100%. When you are trying to optimise your bang for the buck, focusing on the critical 20% is a time-saver. See what activities generate the most results and give them your appropriate attention.” – https://betterexplained.com
Tips 3# Setup your Goals By Focusing on 20% Most Important Things in your Life.
Pareto principle is not the magic bullet to overcome your problem. There are a lot of other tools which works great when combined with the Pareto principle. The point of the Pareto principle is to recognise that most things in life, focus on it and work on it.
Start today and maximise your productivity. Then, try to see and scrutinised your to-do list today. Work with 100% power in your 20% “best time”. Nothing will come easy. But remember, everything will be paid off. If you need more article about productivity, check out my blog post about 8 things successful people always do compare to others.
Thank you for reading, I really glad if you are happy and giving some comments on the section below.