An Italian economist named Vilfredo Pareto noticed one day that every year, 20% of the pea pods in his garden produced approximately 80% of the peas.
This got him thinking and he began to observe the similar output pattern in various industries, companies, and businesses. 80% of their production often came from the 20% most productive fraction.
This later started to be known as the Pareto Principle, or what is now often referred to as the 80/20 Principle which states that 80% of your output will come from 20% of your actions and has historically been the most popular and accurate way to analyzing and optimizing business by taking the right foot forward.
How to apply this in your daily life?
You might be pondering about the importance of this management principle in your daily life and believe us, knowing how to use it can improve your life significantly. Answer these questions for instance
- What are your 20% possessions that you use the most?
- What do you spend 20% of your time doing that gives you the most happiness?
- What are the 20% clothes that you wear the most?
- What are the 20% apps on your mobile that you use the most?
- Which 20% of your skills and qualities are responsible for 80% of your success?
- What is the 20% food that you eat all the time?
These might be some simple questions for you to answer but think about it. Once you are done with it, you have already taken a strive towards assessing your life better. For example, knowing the 20% possessions that you use the most would help you in prioritizing your daily work routine and would simplify it as well.
Similarly with the things that give you utmost happiness, you can do more of it once you have listed those things down.
Identifying the 20% of the food you eat 80% of the time will probably explain whether you keep a healthy diet or not and how healthy it is.
The 80% of people you spend time with who only add 20% of the pleasure in your life.You can spend less time with them and spend more which those who brings happiness to you. The 80% of crap you uses 20% of the time. Try optimizing it by prioritizing your tasks.
You can apply the 80-20 rule to your emotional life and relationship as well. You can figure out your 20% behaviors that cause 80% of your problems. We all know it’s there. Once we figure this out, we can actually avoid most of the arguments and fights and pave the way for a better relationship. Another thing you can do is to figure out 20% of the conversations that creates intimacy with your partner. Let’s use this to create more of a love-based relationship.
Recognizing these things can eventually inspire you to make some hefty changes in your choices and my lifestyle. You can drop doing things which you know are wasting your time without giving any significant output. You can make efforts to identify other friends to spend more time with, and you can also pay more attention to what you do with your money by knowing what you actually need.
What you need to focus on it that everything you do requires good efficiency to become perfect. Every aspect of our lives, every small thing you do requires effort and hence efficiency comes into account. Once you are efficient in your work, you would see it in your output as well. The 80-20 principle not only does well with your efficiency but also builds up control and influence in your work.
Obviously, the 80/20 rule is not necessarily a rigid dictum to live by. The perfect numbers make sense only in managerial backgrounds where the output can be analyzed and studied. But, you shouldn’t actually care about this fact. You should look to at like a tool, a lens to view various aspects of your life and how to improve them.
Sit down, Take your time and analyze everything about yourself. This one realization can change your life and make you efficient in almost everything you do.