June 9: The 80/20 rule
The 80/20 Rule asserts that 80% of results come from just 20% of an action.
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Source: Forbes
Published: March 2016
The 80/20 rule
The 80/20 Rule, or Pareto’s principle, asserts that 80% of results come from just 20% of an action.
Common examples are 20% of customers accounting for 80% of total profits, and 20% of software bugs causing 80% of software crashes.
A Pareto work approach can be a key tool for savvy professionals to determine how best to prioritize tasks. Ask yourself what 20% of your work drives 80% of your outcomes. Focus time and energy on that crucial 20% and either delegate or drop the rest.
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Pareto’s principal reminds me always to put first things first, things that can give direct impact to customers’ satisfaction, engage talents, reduce costs and or gain more profits and lead to wins without loosing much efforts. Thanks for sharing.