The Principle of Pareto

The Pareto principle (or 80/20 law) can be simplistically stated in the following way: 80% of the effects are due to 20% of the causes. This principle is extremely useful in most areas if it is understood and applied correctly.

History of Pareto's principle
Law 80/20 was pronounced by Joseph M. Juran (American engineer of Romanian origin) and attributed to Italian economist Vilfredo Pareto who observed in 1906 that 80% of the land of Italy was owned by 20% of the population.

Examples of Principles:

20% of the world's population owns 80% of all that can be earned
Microsoft has noted that if it solves 20% of the most reported bugs, 80% of errors will be removed 80% of a company's revenue is generated by 20% of customers

Although it is also called the Law 80/20, Pareto's principle is not a law. This is not always true, and the percentage may differ. Pareto's principle is just one rule that has been found to work in the vast majority of domains.

Misinterpretations of the principle
Some people say that if the 80/20 law is repeatedly applied, we finally get to zero.
This is because they take the principle as a valid universal law. But as we mentioned above, Pareto's principle is not a law.

The basic idea to remember is that we need to focus on the really important things in our lives.

Other people come up against Pareto's principle with the replica, "Do you want me to stop eating, not to wash myself, not to call anymore?" They claim that without less important things like transport, dressing, etc., we will not get to meet the most important.
First of all, Pareto's principle does not suggest you give up 80% of your activities, but focus more on the 20% of them that are more important.
And if you study your activities one day, you will notice that you have spent enough time doing ineffective things without which you could still live still.

How to Properly Use Pareto's Principle

1. Identify things that matter. It depends on everyone, but the things that matter when it comes to the 80/20 law are the areas where you want the best results.

And these things differ from time to time. For example, during this time, the things that matter most to me are the following: the session and this blog. But over a month things will change: the session will end and the blog will start to consume less time than it does now.

2.Once you have identified the areas you want to focus on, look for things that generate results in those areas. I'll take the session as an example. What are the things that generate my school results? First, learning. Then there are other things I have to focus on.

3. Use your time and resources correctly:

devoting more time and effort to things that matter. Try to plan your important things by giving priority to the least important.
Eliminate or reduce things that do not matter. You do not need to check your mail or reader a few dozen times a day. Two or three times is enough.
Because in most of our activities we want the best results, it is very important to have a thinking based on the 80/20 rule. Focusing more on the things that matter is a bigger chance to improve our personal and professional lives.