take54u today to identify a small number of changes we can make which will make a large difference – then we can have a large impact with a small amount of effort.
Vilfredo Pareto in 1906 noted that 80% of the land in Italy was owned by 20% of the population. He also noted that 20% of the pea pods in his garden produced 80% of the total peas he collected. And thus ‘Pareto Analysis‘, or the 80/20 rule, was born!
We can use patterns in this rule in our own lives, jobs or business to enable us to work ‘smarter’ and still achieve the required outcome…and in some cases, even improve the outcome! But ultimately, it will make us more efficient with our time and less stressed as a result.
In business, 80% of sales will come from 20% of our clients…while there will be another 20% of clients who give us 80% of our problems!
In our jobs, 80% of our time will be spent on activities that give us only 20% of our required outcomes.
In our own lives, 80% of problems will come from 20% of our friends! And there will be 20% of our friends who will give us 80% of the fun.
Pareto Analysis is a little difficult to see at first, but write down tasks you have to do each day, or how your time is spent and you will see that the rule is pretty effective…and you can use it to stop working so HARD and start working SMART!