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The Pareto Principle
... or the 80/20 principle was coined in the early 1900s by Vilfredo Pareto, an Italian economist. He observed that the pea pods in his garden were producing peas at this rate. 20 percent of the pea pods produced 80 percent of the peas. This output was then observed by him on a larger scale, across industries, societies and companies.
This principle states that 80 percent of the output or results comes from 20 percent of the input or effort.
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MORE IDEAS ON THIS
Universal Law
The Pareto principle has been seen working in various fields, and domains:
- Sales and Marketing departments recognised that 20 percent of the customers brought 80 percent of the products, and 20 percent of their sales force made 80 per cent of the sales.
- Businesses realized t...
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Review Yourself
The 80/20 law, like gravity, is everywhere in your life.
Check your money flow, relationships, possessions, and the things you spend your time on, and find if there is any improvement that can be made in your life.
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Identify Your 80/20
We have never considered this before but the same principle applies to our lives.
- The kind of food we eat, only 20 percent of it really matters.
- The people we meet, 80 per cent of those are not worth meeting.
- The stuff we buy (like clothes and gadgets), 80 percent o...
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Other curated ideas on this topic:
The Pareto Principle (the 80/20 Rule)
It is an idea discovered by an Italian economist. It says that power and wealth is distributed like a reversed hockey stick where a small percentage of the population (20%) owns majority of the wealth (80%).
Use the 80/20 Rule
... to constantly question yourself if your focus, time or money is on the things that generate the majority of the results.
The 80/20 rule, also known as the Pareto Principle states: 80% of the output or results will come from 20% of the input or action. The little things ...
3. Apply the 80/20 Rule to Everything
The Pareto Principle or 80/20 Principle says that 20% of your activities will account for 80% of your results.
Resist the temptation to clear the small tasks first; instead, start your day by asking, “Is this task in the top 20% or bottom 80% of my activities
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