How many times have you thought that your life was not fair? Many times, haven’t you? But did you know that there are so many people without a shelter over their heads……… no, no, sorry, this is not one of those motivational blogs that rev you up. This is about a principle called the Pareto Principle or the 80/20 rule.
Named after the economist Vilfredo Pareto, the concept states that 80% of consequences come from 20% of the causes, which shows an unequal relationship between inputs and outputs. In fact, Pareto could be applied to a wide range of areas from a personal level, financial level, and from a professional point of view, etc.
Pareto speculated that the majority of the wealth (80%) was owned by a minority (20%) of the people. Moreover, 80% of the land in Italy was owned by 20% of the population. After surveying other countries, Pareto found the same applied abroad.
So the bottom line is that for the most part, the Pareto Principle is an observation that things in life are not always distributed evenly.
There is, however, a misconception that by putting in 20% of the effort, 80% of the results could be achieved. The point is the 20% and 80% numbers don’t refer to the amount of effort you’re putting in, but the causes and consequences you’re working on.
The goal is not to minimize the amount of effort but to find and focus your effort on a specific portion of work to create a bigger impact. However, the truth is that you still have to put 100% of effort into that 20% of focus to achieve 80% of the results.
RR Author
Real Research News is the media platform that presents insights and studies of wide-range of topics. It focuses on insights gathered from its survey app.
