What is the principle?
The 80/20 principle also known as the "Pareto principle" states that the 80% results or effects come from 20% reasons. This theory can be applied to various different situations of life. It is also called the principle of least effort. It was named after Vilfredo Pareto, the founder. He noticed that the wealth is distributed among the population according to this principle. Later he witnessed that all activities are subjected to this principle. Income is divided naturally between the top 20% called "vital few" and bottom 80% called "trivial many." Understanding the principle is essential to make use of our time, and prioritize our work, tasks, schedule accordingly. This principle states that 80% of results come from our 20% actions and efforts. This principle was taken from the book by Richard Koch "The 80/20 principle - the secret to achieving more with less."
20% of actions = 80% results
How Does The Pareto Principle Work?
Usually, we believe that more efforts implies more results. But that is not the case. The effective results come from our 20% actions only. Humans have the tendency to work on 80% less significant tasks than 20% important ones. The sad thing is that we procrastinate the 20% vital tasks and blindly following up the 80% non-important tasks. This 80% of tasks contribute very less towards our goal.
We should lay stress on 20% of the tasks which are more worth than the 80% tasks to achieve better results and outcomes.
"Discover effective less to achieve more."Examples
- 20% of people are responsible for 80% of crimes in the world.
- 20% of actors are loved by the audience.
- 80% of accidents are done by 20% drivers.
- We wear 20% out of 80% of the clothes in our wardrobe.
- 20% of the 80% of people become our friends in life.
- 20% of youtube channels are best among 80%.
- Out of 80% friends, 20% support us when we need.
- 20% of land gives 80% share of the crop and grain.
- Out of 80% of people, only 20% are responsible for creating new innovation.
- Out of 80% of employees in IT companies, 20% thinks of becoming an entrepreneur.
80-20 Principle for business, study, social life, and goal-setting
Our mind is programmed in a way that we believe that more means better. But that is not the case in real life. Applying 20/80 principles in every aspect of life is significant to achieve success.
For new startups and companies, people started focusing on making the website design proper, investing more money on marketing and hiring people. But all these things will not help. First, you should make your product or service popular among people. Make ensure that people are liking your business plan. Then go for marketing and investments. Your 20% of tasks, attention, and decisions should be focused more on building customers for your product. Once you have active customers or users, then focus on marketing and other things. At the time of marketing, you should primarily focus on 20% of platforms where you are getting 80% of the customer base.
For Social life
Our mindset is more friends means more support and happiness. Even I use to spend most of the time with my large group of friends. I use to spend time with each of my friends. I left with no time for myself in a day. We ignore the fact that only 20% of our friends are responsible for 80% of happiness and motivation in life. Maintaining friendship with 80% of people will take your crucial time and energy. Instead, become friends with 20% of people in life with whom you feel real happiness. Real fulfillment comes from this 20% of friends only. It will save you a lot of time to spend on other important things like exercise, reading books, working on your goals, etc.
For this first analyze your goals. Smart goals should be more effective than hard-working ones. Make a list of your goals. Then analyze one by one all the efforts required for attaining them. Start with the goals which give you maximum effective results. The goal which has the greatest impact should be taken into priority. The main goal is to accomplish your 20% of tasks at the beginning which gives you 80% outcomes. Most valuable tasks shouldn't procrastinate. The major difference between the rich and the poor is rich people set their one big goal in life. They have one big task or goal to work upon all the time. Pick one goal and start putting efforts regarding the same.
You must have seen students who appear to be studying all day long. Even after putting their best, they accomplish little. Why so?
The main reason is that they put their 80% efforts on the less valuable material or questions. They keep on putting their energy on assignments of less value in exams. Study in a smart way to get effective results. Put your attention on important topics during the exam. Out of 80% of questions, the question paper will have 20% questions only. Try analyzing those 20% ones.
"Smart study, more money."
The 20-80 rule is the most powerful tool for time management and achieving success. Change the ways you set your goals. The only need is to start doing 20% valuable tasks to accomplish 80% success or outcome. This rule is the secret behind working less and achieving more.