80% of results will come from just 20% of action. The Pareto principal is applicable in day-to-day life and makes goal setting easier.
Vilfredo Federico Damaso Pareto is a famous Italian economist, engineer, sociologist and philosopher. He is famous as Italian but he was born in Paris (France). His father was Italian civil engineer and mother was French. Vilfredo Pareto earned a doctor degree in engineering (dissertation was entitled “The Fundamental Principles of Equilibrium in Solid Bodies”). Pareto’s liking towards equilibrium influenced all his researches.
Vilfredo Pareto was harvesting peas in his garder when he made life-changing observation. He noticed that in some peapods was a lot more peas that in other. This became famous 80/20 rule. 80% of peas are from 20% of peapods. And other 20% of peas came from 80% of peapods.
From 10 peapods was expected 50 peas in total. So, 5 peas per pod. But this was right only jn theory. In reality 20% of the peapods ( 2 out of 10 peapods) had 80% of the peas (40 out of 50 peas).
This was astonishing discovery that made Pareto’s name famous. This got him thinking about other 80/20 principal application (old and modern examples):
- In that time 20% of landowners owned 80% of land in Italy (and not only Italy).
- 20% manufacturers produced 80% of products.
- 20% of people owned 80% of wealth.
- 20% of customers bring 80% of sales.
- 20% of employees responsible for 80% of results.
- 20% of restaurant’s operating time generate 80% of revenue.
- 20% of cleaning result on 80% of cleanliness.
- 20% of ideas result in 80% of success rate.
- 20% of tasks result in 80% of results.
- 20% of clothes you wear 80% of time.
- 20% of food you eat in 80% of time.
- 20% of posts generate 80% of traffic.
- 20% of apps used 80% of time.
Approximately 4-1 ratio. This is applicable even in 2020. It’s easy to find similar examples in real life. Share in comments examples that I misses.
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