No matter how good your intentions, prioritising a busy workload can be a difficult task. However, when applied correctly, there is one rule that can help you be more productive and make a significant difference to your day.
The Pareto principle, also referred to as the 80/20 rule, is based on the idea that 80% of your productivity comes from 20% of what you do. The concept originates from Italian economist Vilfredo Pareto, who used mathematics to analyse the economy and study income distribution; this research found that 20% of the people earned 80% of the money available.
Strategists and business leaders now embrace this ideology to develop pragmatic business principles that change the way we work.
We can see examples of this in many things: · 80% of the clothes you regularly wear, form 20% of your entire wardrobe. · 80% of your website traffic comes from 20% of your content. · 80% of the time spent talking is with 20% of friends and family. · 80% of your business’ income, comes from 20% of your client base. Whilst this isn’t an exact science, when you consider the 80/20 and how it fits in with your life and work, it can help you identify your “20%” so that you can enhance it.
The advantages of this are:
· Learning what activities bring you or your business the best results.
· Improving how you manage your time and priorities
· Helping you to identify which of your tasks can be delegated.
So how do you start using the Pareto Principle to help you in your career? The best place to start is to make a list of your goals. This could be related to your job, personal development or any aspect of your daily life. Then think about what actions you need to do to help you achieve those goals. 20% of these actions will yield the most significant results. The Pareto Principle doesn’t mean that the other 80% of tasks should be forgotten. However, identifying the key 20% will help you focus and work towards your ideal outcomes, with a greater chance of success, both in your career and everyday life.
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