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80/20 Rule: Threat or an Opportunity?
It is hard to accept the truth that there are inequalities everywhere. But depending on how you see it, the rule could help us filter out unnecessary data, better channel our resources, and make better decision in work and life.
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Why Winners (Almost) Take All
In Pareto Principle, the winner takes almost all. The-Winner-Take-All effect happens isn’t because winners are better, smarter, and stronger than everyone else. In fact, most of us started at about the same place. But that tiny little advantage can take a person a long way by compounding effect o...
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Small Improvement Matters
Don’t be discouraged even you are being left behind, as long as you are making a progress, you are already making a difference.
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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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80/20 Rule All Around
The Pareto Principle could also be observed in almost every industry:
- In software, 80% of the errors and crashes in a system would be eliminated by fixing the top 20% of the most reported bugs.
- In sports, 20% of athletes participate in 80% of the big games
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Strategies for Keeps
- Pick one goal for your business to improve focus and decision-making.
- Optimise the first item in a funnel that has cascading effect to the entire funnel
- Work hard to understand the 20% of your customer.
- Create high margin products that brin...
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Implementing 80/20
Phase I: Self-analysis
Reflect on where your current focuses are. How do these impact you in different areas in life?
Phase II: Identify the 20 Percent
Link those good or bad results to the source of your activities.
Phase III: Focus on the Fat Tail
Elimina...
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4.98K reads
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7 Things You Need To Understand About Anxiety And Depression
No, we are not over yet. After discussing the topic with my friend’s Dad (he is a doctor), I’ve made a list of things you need to understand and avoid anxiety attacks (hard to breathe moments).
- Think of your anxiety as a biological problem, rather than thinking there is something wron...
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Get organized
- Carry a homework planner at all times. Entering homework, projects, tests and assignments as soon as they are assigned will make sure they aren’t forgotten about.
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Types of people
Category 1: Losers
People who always see negative in everything and put in the least amount of effort or no effort at all. They are least bothered about what is happening around them. They will only crib and complain about how the world is. They will say someth...
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