Introduction
The 80/20 principle (aka the Pareto principle) states that 80% of the results come to form 20% of the cause. A few things are important; most are not. He notices that a tiny number of pea pods in this garden produced the majority of the peas. At the time, Pareto was studying wealth in various nations. As he was Italian, he began by analyzing the distribution of wealth in Italy. To his surprise, he discovered that approximately 80 % of the land in Italy was owned by just 20 percent of the people.
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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 sc...
Living the 80/20 Life
The 80/20 rule, also known as the Pareto principle, states that we need to focus on the few things that get us the most benefit.
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