The Pareto principle, it is the principle 80/20, - a thing quite famous. If it is short, then the Italian economist Pareto in the 19th century found such regularity: 20% of our efforts yield 80% of result. In other words, a lot of things give small, and small gives a lot of things. This principle had serious impact on modern science of effective management of time.
How to understand it?
To understand all genius governed Pareto, it is necessary to reject figures "20" and "80" of percent, and in general to ignore any exact values. Really, cannot always and in different areas of life to be observed so strict proportion. Therefore it is better to formulate the Pareto principle thus: "A small part of the made efforts usually yields the greatest result". Or so: "Only a small part of our actions is really effective". And the principle of efficiency of Pareto also suggests us to focus on this most important part of our efforts.
In what practical value of this opening?
Practical conclusion from the principle of efficiency of Pareto lies on a surface: concentrate only on those actions which bring real result and ruthlessly reject ineffective or at all unnecessary affairs. Or it is even simpler: do what will result you in success.
The principle of optimality of Pareto was adopted by time-management science. Experts in this area recommend to apply a ratio 80/20 literally in all spheres of life, but the main thing, of course, in work. According to this theory, the most part of our actions really does not bring closer to desirable result, and is waste of time. Any meeting is effective only for 20%; only 20% of outgoing calls will bring into the company of new clients.
Pareto's time-management was perfectly applied in work, for example, by Steve Jobs. Having compared own professional activity to career rise of this person, many will understand why they consider themselves the real workaholics, but did not become still millionaires.
Conclusions from Pareto's rule
What conclusions should be drawn from all aforesaid?
- It is worth analyzing any begun business regarding observance of the Pareto principle. Including it is necessary to try to grope the key moments to which it is better to direct the 20% of energy for achievement of the best result.
- It is worth remembering the principle, undertaking some obligations. It is better to refuse any things which as you know precisely, you will do in general.
- You should not seek to do ideally all current affairs. It is better to concentrate own energy on some one, but important issue and to finish it. The main thing to decide on priorities.
- It is worth making attempts applying Pareto's law continually. Gradually the analysis of own affairs will become a useful habit. You will save efforts on minor affairs to give all the best on full in that area which really is important.
It is necessary to understand that Pareto's law is, by and large, absolutely even not the law. Rule 80/20 very approximate also works not always. It is the best of all to consider this principle in that key that during work it is worth paying to different factors various amount of attention as they are not always equally important.
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