Effectiveness of the Pareto Principle in Human Life
Vilfredo Pareto was an Italian engineer, sociologist, he was the father of the Pareto principle, now also known as the 80/20 rule. Pareto observed that 80% of income in Italy went to 20% of the population. Pareto later conducted surveys in other countries and, to his surprise, found that a similar distribution applied. In the late 1940s, quality guru Dr. Joseph M. Juran attributed the 80/20 Rule to Pareto, calling it the Pareto Principle. The Pareto Principle or Pareto’s Law is a useful tool to help you prioritize and manage the work in your life. For example
- 80% of our income is generated by 20% of our clients.
- 80% of our complaints come from 20% of our customers.
- 80% of our quality problems occur with 20% of our products.
Or we can put it another way
- 20% of our contributors provide 80% of our funding.
- 20% of our employees are responsible for 80% of sick days.
- 20% of my ideas generate 80% of my traffic on my blog.
The value of this Principle is that it reminds you to focus on the 20% of things that matter. That 20% produces 80% of your results. Although it is a general rule, this principle is used to plan the time and efforts of human beings.
There are so many examples in our lives where we are using this rule without knowing it. Work task analysis, eating habits recording, daily activities recording, reading, socializing, emails, TV shows and budgeting are some of the important activities in which this rule is implemented daily.
Speaking of applying it to daily life, let’s just say that if you start by making your morning time your most productive, then you’ll have the rest of your day as your best day. Suppose if you do just 20-30 minutes of training in the morning, you will feel energized all day. The same formula also applies to your study, if you study with great concentration for just a few hours, you will remember it for days to come. The meaning is very simple, a small daily effort (20%) is leading you towards (80%) success. But make sure that whatever you do, make a continual effort to get that 80% workout done.
I would certainly say that 80% of our happiness is derived from the 20% of what we most enjoy doing. This would include being around family and friends, spending time outdoors, flying small planes, and doing housework.
To take action, you need to start focusing on your products instead of your inputs. This means consuming less, not concentrating on material goods, and spending fewer nights on the couch. Instead, start producing and creating for the world. Get out there and volunteer for a non-profit organization in your community. Mentor a young person or donate time to improve someone else’s life. Start focusing on others and help them achieve their goals. Teaching is one of the most rewarding things a person can do in life. You will find that teaching is an amazing way to build trust with others, which will help in business and in life. If you want to start a business, find a pain in the market and provide a solution. Finding answers to problems and helping others will take you to the next level.
One of the best things about the Pareto Principle or the 80/20 rule is that it actually tries to make things easy for you. You could even say it’s the lazy man’s guide to getting what you want. Because it’s not about extreme changes and strict routines, it’s about recognizing that 20% of the things you already do on a daily basis account for 80% of the results you want. Unfortunately, people would rather be the way they are (inputs) and not bother to put in the effort (outputs) to apply such a basic principle to their daily lives in whatever area they want to improve. Make the effort, be a result. Find what you are good at and maximize it. Recognize the actions that produce the most results for you and your business and put your energy where the big rewards are.