In case, if you do not know, the 80/20 principle is not just like another boring textbook principle or any complexed logistic rule which no one can find practical aspect off.
This is a principle that is integrated
MUST READ BLOG: 7 TRAITS THAT YOU ARE GREAT LEADER
If observed and implemented correctly, it can make your life much simpler and better.
What is 80/20 principle?
The 80/20 principle asserts that minority of causes, inputs, or effort lead to majority of results, outputs or rewards. For instance, 80% of what your results either in business or in job comes from 20% of your inputs or efforts you put in.
On the contrary, majority (approximately 80%) effort are just irrelevant and does not seems to be productive, the fun part is people just think opposite.
How to think 80/20?
Majority of us believe or have illution that all the things matter in same way which means 100% of our efforts leads us to 100% of the results which is so not true.Majority of us tries to do everything perfectly,hence, losing up our aim thus derailing from our path of success.
This is a typical example of a conventional mindset. according to this, suppose in business 50% products leads to 50% of profit. If you ask any merchant or shopkeeper, it will give you a different answer.
This stats that
Look at the above example, this is how things actually
Want to gain some insight about low
How to apply 80/20 rule in your life or business?
There are basically two methods of imposing 80/20 rule:
- Focusing and channelizing your energy, time, efforts on
minority(suppose 20%) of things and abandon the rest .Thismakes your life much simpler and easier and saves hugeportion of your time and effort.
- If you are highly energetic, pumped with confidence and have
astronomicalnumber of brain cells than you can go for this option. It basically tells you to first find that majorityof your inputs which are not rewarding you much and try to focus on those so that they also leadsyou to success.
- This is
optionwhich is implemented by most of largemultinational companies.
Some major application of 80/20 principle
- Usually 20% of products leads to 80% of profits.
- 20% of criminals account for 80% of the value of all crime.
- 20% of motorist leads to 80% of accidents.
- 20% of your clothes worn 80% of your time.
- In internal combustion engine: 80% of energy get wasted in combustion and rest 20% leads to 100% of output.
- Top approximately 20% of beer drinker leads 80% of beer drunk.
After reading the above article, it can clearly
Share with your friends, so they will also feel the same. We are here just to provide you valuable wisdom of books because we believe everyone deserves the better living. Subscribe to our website, so that you never miss the opportunity to be inspired.
Love this kind of wisdom, Read our blog rich mindset vs poor mindset
You can buy the book from amazon by clicking the link below
Inspired by the book 80/20 principle by richard koch
TRENDING ARTICLES: HOW TO UNLOCK POWER OF SUBCONSCIOUS MIND