The 80/20 rule, also known as the Pareto Principle, is a general observation about cause and effect. It suggests that roughly 80% of the consequences come from 20% of the causes. In other words, a small amount of effort can often yield a large amount of benefit.
Here's a breakdown of the concept:
80/20: This is the ratio, but it's not always an exact number. It's more of a rule of thumb.
Cause: The things you put effort into.
Effect: The results you get from your efforts.
The 80/20 rule can be applied to many different areas of life, such as:
Business: A small number of customers might generate a large portion of your sales.
Productivity: A small number of tasks might contribute to a large portion of your overall accomplishment.
Time management: A small number of activities might eat up a large portion of your time.
By understanding the 80/20 rule, you can focus your efforts on the areas that will have the biggest impact.
