We have often heard our elders saying that to be successful everyone needs to work hard. Many teachers say to their students that to score well they need to study for hours. But the 80/20 principle is exact opposite of it.
This is actually a myth. whatever the work we do only 20% of that work defines our 80% of results. If we see every country has 20% of people who have 80% of the country’s wealth. We wear 20% of clothes 80% times, 20% of land in the world provides 80% of food, 20% scientists discover 80% of inventions. Almost in every field if we see 20% inputs define 80% results.
What’s the 80/20 Principle?
The 80/20 Principle says that the majority of your results or outputs will come from a minority of causes or inputs. The principle was discovered in 1897 by economist Vilfredo Pareto and became popular after WWII. Today, it’s also known as the Pareto Principle, the 80:20 Rule, the Principle of Least Effort, the Principle of Imbalance, the Pareto Law, the Law of the Vital Few, and the Principle of Factor Sparsity.
The ratio may not always be exactly 80:20, i.e. it could be more imbalanced at 90:10 or less imbalanced at 60:40. The key idea is—there’s typically a non-linear relationship between input and output, between effort and results, and between causes and consequences.
80/20 principle is explained as less gives more. it tells us to stop focusing on those things which take our more time and give less results. If you want to get the maximum benefits of any field you should focus on the main things of it which will help you to give your desired results faster.
HOW TO APPLY 80/20 PRINCIPLE?
- Select important areas where you want to excel. Working harder in every field will only cause you stress and burden. Try to be excellent in some areas. As compared to working hard in every area.
- Take a deep look in every area and choose wisely which area you should choose. It is advised to choose areas that providing you maximum results.
- There is no such thing as luck in success. when things are not going wrong try to find out reasons rather than crying on it.
80/20 PRINCIPLE IN BUSINESS
To achieve success in any business the owner should focus on 20% of areas to get 80 % of results. many people while starting a business focus on their company’s logo or their websites. They forgot to pay attention to the product which provides a business maximum profits. We all know for a business to be successful customer satisfaction is their key.
80/20 PRINCIPLE FOR SOCIAL LIFE AND HAPPINESS
Many of us think that having many friends or a big circle will make us feel happy. But the truth is we are more comfortable with only 20% of people in our group. It is advised to spend time with only those 20% people who make you happy and joyful rather than wasting time with everyone. It will also save your time and it will help you to focus on other things.
80/20 PRINCIPLE FOR STUDIES
Many of the students study all day and night. They sit for the longest hours possible. At the time of results many students don’t get the desired results they want. This happens because a human mind cannot study for the whole day. It requires a break from time to time in a day. It is advised that students should study 2-3 hrs maximum. They should take 30 mins of break before starting studying again. In that 30 mins they should do those things which will help them to relax their minds. It is preferred to go for a walk in fresh air or to eat something healthy which will help them to regain their energy.
I hope this blog has helped you understand the 80/20 principle. To understand this principle deeply do read the book( name of the book at the end of blog). Now you all know the trick to work less and achieve more. It will also help all of you to be successful in any field.
(SOURCE- THE 80/20 PRINCIPLE BY RICHARD KOCH)