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80/20 Rule – Too Much On Your Plate… September 20, 2007

Posted by Steve Worthy in Business Development, Entrepreneurship, Getting Married, Manhood, Marriage, Staying Married, Uncategorized.
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Juggling Act…

So how many things do you have on plate today. Some times our lives are a juggling act and we do not know how to prioritze our lives. So in this blog I wanted to introduce a short principle that I’ve used numerous times in my professional life and have begun implementing in my personal life.

    PARETO PRINCIPLE

The Pareto principle (also known as the 80-20 rule, the law of the vital few and the principle of factor sparsity) states that, for many events, 80% of the effects comes from 20% of the causes. Business management thinker Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed that 80% of income in Italy went to 20% of the population. It is a common rule of thumb in business; e.g., “80% of your sales comes from 20% of your clients.”

The original observation was in connection with income and wealth. Pareto noticed that 80% of Italy’s wealth was owned by 20% of the population. He then carried out surveys on a variety of other countries and found to his surprise that a similar distribution applied.

It also applies to a variety of more mundane matters: we wear our 20% most favoured clothes about 80% of the time, we spend 80% of the time with 20% of our acquaintances etc.

So if you have a list of ten (10) things to do the top two (2) should be your true focus. In accomplishing these, based on the rule, you inherently fulfill a good portion of the remaining eight (8). So try it and let me know how it works.

Source: http://en.wikipedia.org/wiki/Pareto_principle

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Comments»

1. Howard MacKinnon - December 16, 2007

Great article, and Blog! I found you doing some research and looking for some very good blogs that are dealing with relationships and marriage, but especially all the aspects of divorce… Because, I believe that it has and will always be a factor of communication that is the key to any good relationship and that the lack of it, is where the trouble starts for every marriage… Whether it be money, alcohol and drugs, adutlery, pornography or and abuse in every form of mental, spiritual, and yes physical will all lead back to one thing, and that is no real communication… Keep up the good work on all of our behalf’s. Thank you, Howard M.


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