Can You Apply the 80/20 Rule to Make More Money? So you have heard about the Pareto Principle, or the 80/20 Rule and had no idea how it could help your business. The 80/20 rule, also known as the Pareto principle explains that 20% of the causes come from roughly 80% of the effects. This principle was named after Vilfredo Pareto, an Italian economist. He observed in 1906 that 80% of the land in Italy was owned by 20% of the population and that 20% of the pea Iget Vape in his garden contained 80% of the peas. It is a common rule of thumb in business that 80% of your sales come from 20% of your clients. He observed the distribution of wealth among the population and that’s how he came about both concepts.
The 80/20 principle has proven in business and economics that the majority of results come from a small minority of causes or effort. It does not mean, though, that the 80/20 numbers are accurate; It could be 90/5 or 70/30. This is a very powerful rule that should not only be used in business, but in life. You should learn to focus your attention on the “vital minority” in order to live the 80/20 lifestyle so that you can accomplish more with less! You have heard it before; great reward comes from serious effort. The problem is that the advice is good and it works, but most don’t get into the right habits. I know because I have experienced it! Have you?
Can You Apply the 80/20 Rule to Make More Money? So you have heard about the Pareto Principle, or the 80/20 Rule and had no idea how it could help your business. The 80/20 rule, also known as the Pareto principle explains that 20% of the causes come from roughly 80% of the effects. This principle was named after Vilfredo Pareto, an Italian economist. He observed in 1906 that 80% of the land in Italy was owned by 20% of the population and that 20% of the pea pods in his garden contained 80% of the peas. It is a common rule of thumb in business that 80% of your sales come from 20% of your clients. He observed the distribution of wealth among the population and that’s how he came about both concepts.
The 80/20 principle has proven in business and economics that the majority of results come from a small minority of causes or effort. It does not mean, though, that the 80/20 numbers are accurate; It could be 90/5 or 70/30. This is a very powerful rule that should not only be used in business, but in life. You should learn to focus your attention on the “vital minority” in order to live the 80/20 lifestyle so that you can accomplish more with less! You have heard it before; great reward comes from serious effort. The problem is that the advice is good and it works, but most don’t get into the right habits. I know because I have experienced it! Have you?
