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Vilfredo Paretos Principle: The 80-20 Rule: 80% of Results are Produced from 20% of Efforts
Vilfredo Pareto's Principle, or The "Pareto Principle," is more commonly known as the 80-20 rule. It suggests that a ratio of approximately 20% to 80% can be found as an effective measure for most things in life. Whether revenues generated per customer or value for hours worked, it usually can be found that 80% of all of our results in business and in life come from only 20% of our efforts! As importantly, the 80-20 ratio seems to hold true for many input/outputs, causes/consequences, or efforts/results. It also holds true across the spectrum of relationships, business, finances, time- whatever the case may be. Richard Koch, author of The 80/20 Principle, suggests that the key to earning more and working less is to pick the right thing to do and only those things that add the highest value. Contrary to public belief, "be intelligent and lazy" is NOT an oxymoron- in fact, it's an important theme of this book! Discarding low value activities in all areas of your life, the true essence of the Pareto Principle, will create the time and freedom for you to enjoy a more richly endowed lifestyle. How can you apply Pareto's Principle?Look for the evidence of Pareto's Principle in all areas of your life. As best you can, determine where 20% of your energies, resources, time, and talents should be invested for maximum benefit (The 80-20 Rule). Then do it. In addition to concepts like Pareto's Principle, wizardZofwealth.com offers people of all income levels wealth-building strategies in the areas of small business, entrepreneurship, self development, personal finance, trading, and investing. The site's exclusive Wealth Notes presentation style makes learning easy for people seeking financial independence.
MORE RESOURCES:
Time management a major problem in AfricaBusiness Daily Africa, Kenya - 15 hours ago... in markets across the continent, I was continuously intrigued by the similarities many of our brothers and sisters had when it came to time management. ... |
Time management and multi-tasking employeesEconomic Times, India - Nov 18, 2008And it is time management that churns out this skill in an employee. “ Time management makes an employee more productive, helps him/her reach his/her goal ... |
Does Time Management Even Exist?Baruch College The Ticker, NY - Nov 13, 2008So "time management" is a mislabeled problem, which has little chance of being an effective approach. What you really manage is your activity during time, ... |
WPU Holds Seminar on Time ManagementPioneer Times, NJ - Nov 10, 2008A healthy diet and adequate exercise are just a few tips Samantha Benson suggests to students in help of managing their time. It is a struggle to manage all ... |
Time ManagementKVUE, TX - Nov 4, 2008And fate just seemed to be on their side. But looking back with those 20-20 glasses sure makes you wish time management had been on your side. |
Time-Management - Google News
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