The 80 / 20 rule is also known as the Pareto Principle (the law of the vital few).
Generally 80% of the effects come from 20% of the causes, 80% of the wealth is owned by 20% of the nation or 80% of sales come from 20% of the Clients.
Generally 80% of the effects come from 20% of the causes, 80% of the wealth is owned by 20% of the nation or 80% of sales come from 20% of the Clients.
Taking this into a wider context and applying this to work, the value of the Pareto Principle is that it reminds us to focus on the 20 percent that matters. Of the things we do during the day, only 20 percent really matter. Those 20 percent produce 80 percent of the results.
I always ask my staff to identify and focus on those things. It is not just about working smart, it is working smart on the right things....
p/s: on the last note, my boss thinks it is just an excuse to do less for the same money!
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