The Pareto Principle Misapplications
- Putting inputs and outputs on the same level: Inputs and outputs aren’t the same thing and, therefore, can’t be put into the same pie chart.
- Using a literal, mathematical interpretation of the rule: The numbers here aren’t that important.
- Mastering a skill can be one of those areas where the 80/20 advice is faulty: The point of the 80/20 rule is that you should downplay or minimize the inefficient 80% of inputs.
- Not being able to escape less valuable tasks: Yes, there are some unimportant tasks you still have to do. But you do have control in adjusting where time gets spent.
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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%).
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