WHAT IS THE 80-20 RULE? PARETO PRINCIPLE
The 80-20 Rule states that 80 percent of effects or results come from 20 percent of causes. It is also known as the Pareto principle, named after the one who suggested this principle.
Pareto was an Italian sociologist and economist. He noticed that people tend to separate the top 20 percent or the vital few from the bottom 80 percent. Or the trivial many, whether it is in terms of wealth or terms of prosperity. Later, he came to know. Italy’s economy follows on Pareto principle as 80% of the economy came from 20% of the population.
You can use the Pareto principle in every situation. It is significant to understand this principle. So, you can learn how to categorize your tasks.
HOW TO APPLY THE 80-20 RULE?
You can apply this rule by taking a sheet of paper and writing down 10 things you wish to accomplish related to your career or your goal in priority order. After sorting out the vital few from the trivial many, you should start working on the vital ones.
It is very sorrowful to see poor people. Many people in society work all day long but are still not able to make both ends meet. Because they are working on abstract things. The things that will not bring them profit in the long run. But if they start dividing their tasks in priority order. Then focus their energy on accomplishing the vital 20% percent of their tasks. They will be able to see a difference.
“80% of the result come from 20% of the causes. A few things are important; most are not.”
Richard Koch
So, if something is urgent, do it. Even before if you think that it is time-consuming. Because minor tasks seem to be less time-consuming, they are never-ending. They keep on popping out one after another. And if you start working on them.
It will be similar to a horse who moves around in a circle all day long. But accomplish nothing.
“There is no shortage of time. In fact, we are positively awash with it. We only make good use of 20 percent of our time… The 80/20 principle says that if we doubled our time on the top 20% of activities, we could work a two-day week and achieve 60 percent more than now.”
Richard Koch
USE 80-20 RULES TO ACHIEVE SUCCESS IN LIFE:
Start your path of success by dreaming big. By doing so, you will also be boosting your self-esteem and self-confidence. Make your dream goal of life and start working on it with concentration, dedication. By remembering the fact, 80% of the results come from 20% of the causes. Only then you will be able to achieve your goal.
NEVER DEVIATE FROM YOUR MAIN GOAL:
Research conducted by sociologists on rich and poor people revealed, 90% of the rich people have one main goal. They work towards it all the time. Whereas 3% of the poor people have one main goal, but they never work on it.
So, if you wish to be successful in life. Do what rich people do, fix one goal and work towards it!
Author: Rtr Noof
Club: Rotaract Club of University of Agriculture
RID#3272
Get latest updates from RAC-UAF articles.