What is Holding You Back? Part Thirteen

​Did you know that 20% of farmers produce the world's 80% of food? The 80-20 rule is observed in many situations. This precept or rule was introduced in 1906 by an Italian economist, Vilfredo Pareto, famous for the concepts of efficiency. 

The general idea is the supposition that 80% represents the outcome of the 20% of the input. Pareto first observed this when 20% of his garden was responsible for producing 80% of the vegetable. He further expanded the rule and extrapolated that 80% of Italy's wealth was owned by 20% of the population.

How does this apply personally?

When I think in terms that my TV channels represents 20% of my 80% viewing, and 20% of my vocabulary represents 80% of what is spoken most of the time, the Pareto principle tends to be validated.

Of course, this is a precept or a rule, and not a fixed rule, however, noteworthy. From a practical standpoint, this rule can help us to focus in areas where we can be more efficient personally and professionally.

For instance, you may have five things you must do today, which of the five items will have the most positive effect? When applied, it defines the most important task to undertake first for the most consequence. Therefore, you become efficient, increases productivity, and will save you the most valuable commodity, time.

Is the forgoing gobbledygook? Allow me to share some actual statistics.

20% of criminals commit 80% of crimes.

20% of drivers cause 80% of all traffic accidents.

80% of pollution originates from 20% of all factories.

20% of a company’s products represent 80% of sales.

20% of employees are responsible for 80% of the results. 

Need I say more? 

So, if something is imperative and extraordinary, you must do it first thing, if it is only important, assign it to someone, and if it does not have the elements mentioned here, take the day off!

I must say that the converse is also true, if we find that 80% is considered not to be working from our efforts that we are expending, it is time to change the paradigm that is being used. the Pareto principal rule, will assist to locate those essential areas, and identify those idiosyncrasies that are committing the 80% of the issues. This will make obvious where to make those adjustments. It is an ongoing process, however, if you commit to it, the result, more efficiency, and optimum productivity will be realized.