Success Using the Pareto Principle
The 80/20 Rule, or Pareto Principle, probably isn’t new to you.
The Pareto Principle is the idea that 80% of your results come from 20% of your actions. You wear 20% of your clothes 80% of the time. The top 20% of salespeople make 80% of the sales. It’s a powerful concept that can be used to change your life quickly.
Use the 80/20 Rule to create the life you love
Realize that your instinct is to focus on the 80% of your options. The thing is that that 80 % provide minimal results. The easy, comfortable actions we prefer are those that actually provide little in the way of results toward our goals. The most meaningful actions are less comfortable but are the ones that make the biggest difference.
For example, switching to fat-free doughnuts isn’t too hard, but it also won’t lead to getting healthy. Choosing to not eat processed sweets for 6 months is more challenging, but will make a huge difference.
The Pareto Principle and Life
It can be applied to nearly any area of your life. 80% of your happiness comes from 20% of your actions. What if you arranged your life so you could spend more time on that 20%? By the same token, 80% of the grief in your life comes from 20% of the people in your life. What if you could limit or eliminate them from your life?
The Pareto Principle and Time
The 80/20 principle also saves a lot of time. By focusing on the actions that make the biggest difference, you can save a tremendous amount of time.
It’s all about being more efficient. Consider each part of your life and make a list of the most important actions you take. These are the vital few actions that make most of the difference.
Ask yourself the important questions, using the 80/20 principle. Then, you’ll have enough information to make a grand change in your life. You know what makes you happy, who makes you happy, and what creates your success.
You also know which things and people are obstacles to these objectives.
Which 20% of my activities cause 80% of my stress?
Which 20% of my activities lead to 80% of my happiness?
Which 20% of my friends do I enjoy the most?
Which 20% of my friends cause the most pain?
Which 20% of my skills account for 80% of my success?
Which 20% of my beliefs cause 80% of my grief?
Begin to apply the principle to your life to gain more traction toward success. What are you trying to accomplish?
Let’s imagine that you own a business and want to apply the Pareto Principle.
20% of your employees do 80% of the work. You’d better treat them well to ensure they don’t leave!
20% of your employees cause 80% of the problems. You might want to show them the door.
20% of your customers provide 80% of your profits. Cater to these customers.
20% of your actions created 80% of your customers. Focus on those actions to gain new customers.
20% of the actions you take provide 80% of the value you’re creating at work. Spend more time on that 20%.
The 80/20 principle can be applied to any part of your life you wish to change. You’ll save a tremendous amount of time and get more accomplished. It will ensure you’re spending your time on the activities that can create the biggest impact.
If you can honestly ask yourself some of the questions we talked about and being to take action using the Pareto Principle you will be on your way to creating a life you love.
Here’s to creating the life you LOVE!
ABOUT THE AUTHOR: TORIE MATHIS
Torie Mathis helps entrepreneurs get from where they are to where they want to be by working smart. She is a best-selling author, Army veteran, speaker + trainer, and your mentor to creating the business+ life you love. She has cracked the code for creating a lucrative, independent business + an amazing lifestyle. She can help you with your marketing and business growth, your clarity and purpose and help you reach your vision of success. 🙂
Torie hosts SMART AF, a show for non-techy, non-marketers looking to grow their business, with her husband Sean and is the creator of SMART AF Magazine.