# Pareto’s Law

In anything we do, there’s always ~20% of activities that will deliver 80% of our desired results.

It’s easy to be wrapped up in ‘busy’ work without ever getting anything done. Pareto’s Law is a useful mental model to be more effective, rather than just be efficient.

@bentley_a46

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Problem Solving

MORE IDEAS FROM THE ARTICLE

Before making a decision, considers how you’ll feel about this decision in 10 minutes, 10 months, and 10 years.

It’s easy to make short-term decisions that may be beneficial 10 minutes or 10 months from now, but these types of decisions usually don’t benefit us in the long-term. What’s harder is to make decisions that may not appear attractive or impactful in the short-term, but over time can have a positive impact in your life.

Work expands so as to fill the time available for its completion. So try placing artificial time limitations.

If we’re given three hours to complete a task that normally would take an hour, we’ll find a way to fill those three hours. However, when we’re down to the final thirty minutes, we’re suddenly feeling the pressure to get things done.

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RELATED IDEAS

There are no set or fixed good or bad decisions.

The same good decisions become bad decisions if they lead to failure, otherwise, they are lauded.

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IDEAS

Delegated both types of inconsequential decisions to subordinates or the team helps save a lot of time.

Inconsequential decisions are the perfect training ground to develop judgment.

A common occurrence of heuristics in which we use an initial starting point as an anchor that is then adjusted to yield a final estimate or value.

Example: estimating the value of an object based on the common price of similar objects.