The Law of 80/20 – Pareto’s Wisdom

The law of 80/20, also known as Pareto’s law, asserts that a minority of causes are responsible for a majority of results.Roughly 20% of actions result in roughly 80% of the outcomes.Usually this is used for business, economics and customer service analysis.

“Things that matter most must never be at the mercy of things that matter least”– Johann Wolfgang von Goethe

A small amount of key actions will therefore produce the greatest outcomes. This also means that our lives can be profoundly affected by a few key decisions.

A common line is “I don’t have time.” But we all get the same amount every day – 86400 seconds to be precise. How we use that time is important. If we all have the same time every day then we all have the same opportunity to use that time wisely. We’re creatures of habit and if we consistently put our time into the wrong areas – we’re going to consistently get the wrong results.

Examples

  • Certain people make you laugh a lot  – spend more time with them
  • A certain diet produces the best results – stick with it
  • You enjoy certain hobbies and activities more than others- do more of them.

It’s easy to feel like the demands on our time are a burden. But if we’re actively choosing how we spend our time. If we spend it on the activities and actions that produce the best results for us. Then how can you ever feel burdened or weighed down?

We all commit to things we don’t enjoy or that have little to no impact on us. So get rid. Cut the crap. Because that vital 20% you invest in might just be the difference between good and great.