Achievement usually comes with lot of dedication and hard work. But there is way where you can achieve more and give less.
The (Pareto) 80-20 Principle
Vilfredo Pareto was an Italian economist. In 1897 he was studying about England’s wealth distribution and income. While reading he noticed something. Maximum of England’s land and cash belonged to a small group of people. In fact 80% of land and money was owned by 20% of England’s population alone. After knowing this, he started to research more about this and he came to know that this principle is not only applicable for other countries or ages but also other things like his own garden, where 80% of peas were growing in 20% pea pod. And this principle was discovered. We call it the Pareto principle or the 80-20 principle.
This is scientifically applied in almost everything like business, studies, relationships, heath etc. This principle states that your 80% percent of your results usually come from 20% of your actions. This fact is absolutely opposite from our thoughts. Meaning we think that more we take actions, more results we will get. But truth is our little bit of right actions are responsible for maximum of our good results.
After introducing this principle, many people researched on different things and they have found this principle almost in all field. Like 20 percent of criminals are responsible for 80 percent crime. 80 percent cars are responsible for 20 percent of accident. just like that 20 percent of married couple are responsible for 80 percent of divorce . And the list goes on.
Now numbers can be more or less. But the principle reflects on everything and say that less work gives more. And the principle doesn’t mean that we shouldn’t work. It teaches us that we should stop doing that kind of portion which gives us least results. Rather it encourages us to work on things which give the maximum results.
Achieve in Business with 80-20 principle
At first this law was used only for business related things. But then it started to be used in every sector. During business start-up, we all do some mistakes by using all our time, energy and money on the type of things which are not essential like making a better logo or websites look etc.
These things are important. But these are the 80% which usually don’t give results. During the time of start-up you should consider other things in mind like how you can improve your product so that it can give benefits to the consumers. And after that you should concentrate on marketing and other things but only for the 20% customers, where you get the maximum response.
Something you should keep in mind that, 20% of your clients will give you the 80% results. Just like that 20 % of clients will be responsible 80% complains. So you should put your focus on this 20%.
At the end, do not try to do everything rather you should focus on those 20 percent which is giving you 80% of results to achieve good result in business.
80-20 for social life and happiness
At first I thought the more friends I have, the better its for me. I always made friends and tried to spend time with each and everyone. And that meant I also had to spend time with those whom I did not like that much. And doing this I realized that this was a huge waste of time for which I was unable to do many thing important like study, exercise etc.
Actually our brain is programmed in such a way that we think more = better, but it’s not true. According to this principle, 80% of happiness and fulfillment come from 20% friends.
That’s why its better to spend your time on those 20% friends who gives you happiness. It’ll save your time to focus on other important things.
80-20 principle for studies
During exam period, I had a friend who studied day and night. On the other hand another friend studied around 4 to 6 hours a day. But when results went out the friend who studied less, his marks were always better than my first friend. So my first friend never believed when he said he didn’t study much. I knew that he was speaking the truth. My 2nd friend was not very smart than the 1st friend. But he was unknowingly using 80-20 principle with having 2 things in mind. That’s why even he studied less, his results were decent.
Regarding what to study: My first friend tried to study all questions in the end that’s why he couldn’t remember everything during exam. Whereas my 2nd friend found the important questions from last years question paper and memorized them perfectly. Then moved on to other questions.
- Regarding the time of study: 1st friend studied through the day and night. But our brain is programmed in such a way that we can’t concentrate in one thing for a very longer time. So my friend studied the whole day and sometimes whole night. He used to get distracted a lot and couldn’t study properly. 2nd friend knew that he only could study between 6 p.m to 9 p.m. He only studied at that time with full concentration. And used to take breaks when he thought his focus was distracted. And after doing something by which he could freshen himself up. He again continued to study.
And following this little tricks he used to achieve results while studying less than others.
So, find that 20 percent in your work, and do it perfectly. Doing this you will get double results in half of your time. And you can do other important things with the remaining half time.
I know this kind of stuffs by reading books. But it’s not always possible to read all of this books. So I get the audio books and listen to them at least once a week. And I recommend it to you.
I shared this article from the book named The 80/20 principle. But there is so much more you can know and learn from this awesome book to achieve so much in your life. If you want it. You can get it.