In case you are not familiar with this rule, otherwise known as the Pareto Principle, here’s a brief summary of it from the website Notes To Self:
Over the years, he and many others observed this rule in action in different spheres. Some examples:
- Relationship: Twenty percent of the people you know (friends, colleagues, family) provide you with 80 percent of nurturing support and satisfaction.
- Business: Twenty percent of customers will account for 80 percent of profit.
- Productivity: Twenty percent of your activities will account for 80 percent of your success.
Turns out that I need to be reminded of this rule periodically: it’s so easy to find one’s self spending too much time on the 80% that matters less. I find that a good time to apply the 80-20 Rule is during the Weekly Review and Planning Session.
What are your thoughts on the 80-20 Rule?