How To Use The Pareto Rule – The 80/20 Rule

How To Use The Pareto Rule – The 80/20 Rule

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How To Use The Pareto Rule – The 80/20 Rule
How To Use The Pareto Rule – The 80/20 Rule
Working efficiently implies identifying your priorities by the book. Some things are always more important than others. But it is also very easy to underestimate the importance of such a principle. In other words, you risk altering your efficiency without even realizing it.

Years ago, the Italian economist Vilfredo Pareto has given a “law” that carries his name. The law is also know as the 80/20 law. This simple rapport reunites the cause and effect through a simple equation. While there are plenty of exceptions to this law, it can easily apply to numerous activities. So what does it mean?

  • 20% of your clients are very likely to produce up to 80% of your profits.
  • 20% of all the manufacturing errors will most likely produce up to 80% of your rejections.

This rapport is even more common when it comes to time management.

  • 20% of a meeting will lead to up to 80% of all further decisions.
  • 20% of all the materials reaching to your desk will provide up to 80% of all the information you require.

In other words, you need to admit that only 20% of your work contributes for about 80% of what you need in order to work. You have to prove it through your actions, only for your attention to be focused on those key aspects that dominate your decisions.

Making the difference between priorities and useless things

It might be difficult to figure out which of your tasks have such an effect. Some things might be clear, while others require a deep analysis. I believe that you should seriously take a look at your work tasks again and determine which activities have the most important effects.

There are more reasons wherefore this process is not perfectly clear. For instance, some key points might be obvious. With time, they become part of your routine, so you slowly tend to overlook them. There are no doubts that you will encounter difficulties while trying to find the connection between your key points and the list of activities that eat your time. A simple revision of your lists will offer the perfect solution for a change. Practically, you must identify the goals, objectives and a clear idea regarding the tasks that can join the 80/20 rule. With time, it is perfectly normal be armed with the knowledge to work efficiently by allocating the right amounts of time to your key points. Besides, it is highly recommended to eliminate and reduce the time spent on minor and useless things.

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