80/20 Rule aka Pareto Law
80/20 rule is “universal truth” about the imbalance of inputs and outputs ,also known as Pareto Law.
80/20 Rule: “20% of efforts will convert into 80% of the results.”
Focus on 20% only. Don’t care for 80%.If you did 20% best then the rest 80% will definately be great.
Although the 80–20 axiom is frequently used in business and economics, you can apply the concept to any field — such as managing time, wealth distribution, personal finance, spending habits, and even infidelity in personal relationships.
If you’ve studied business or economics, you’re well familiar with the power of the Pareto Principle. But if you have not then you’ll be familiar with Pareto Principle within a moment.
Well the man behind the concept is Vilfredo Federico Damaso Pareto and the fact what hits him was:
He noticed that 20% of the pea plants in his garden generated 80% of the healthy pea pods. This observation caused him to think about uneven distribution. He thought about wealth and discovered that 80% of the land in Italy was owned by just 20% of the population. He investigated different industries and found that 80% of production typically came from just 20% of the companies. The generalization became 80/20 rule.
“80% of results will come from just 20% of the action.”
It doesn’t always come to be an exact 80/20 ratio but the more you observe about 80/20 rule you’ll notice the following:
- 80% of world’s total wealth and land is owned by only 20% of people.
- 80% of total sales is generated by 20% of the sales reps.
- 80% of worldwide crimes are done by 20% of criminals.
- 80% of total profits is made from 20% of customers account.
- 80% of software crashes are caused by 20% of the most reported software bugs.
- 80% of traffic is upon 20% of the roads.
- 80% times we wore 20% clothes.
- On your smartphone, If you have 48 different mobile apps pinned to the tiles, but 80% of the time you’re only using the eight on your home screen.
So from these points what we observe that 80% of outcome is completely depended upon 20% of input.Thus, we conclude that if 20% of input covers 80% of the output.
Some key-points of this rule:
- If you focus on your 20% life ,you’ll definitely 80% result.
- The 80–20 rule maintains that 80% of outcomes come from 20% of inputs.
- In the 80–20 rule, you prioritize the 20% of factors that will produce the best results and better to delegate or drop the rest 80%.
- A principle of the 80–20 rule is to identify an entity’s best assets and use them efficiently to create maximum value.
- This “rule” is a precept, not a hard-and-fast mathematical law.
So this is all about 80/20 rule. If you take over on this rule then you never ever care about whole 100% or 80%,you are damn sure that if I give 20% best then I will definitely get good results.And due to this you never mind about others unrelated stuffs ,you just keep focusing on the 20% which will help you a lot like Pomodoro Technique and Parkinson’s law help you by managing your time, utilizing your time, making you concentrated and focused.