Effectiveness of Pareto's Principle in Human Life

Vilfredo Pareto was an Italian engineer, sociologist, was the father of the Pareto principle, now also known as the 80/20 rule. Pareto observed that 80% of income in Italy went to 20% of the population. Pareto later carried out surveys in some other countries and found to his surprise that a similar distribution applied. In the late 1940s, quality guru, Dr. Joseph M. Juran, attributed the 80/20 Rule to Pareto, calling it Pareto's Principle. Pareto's Principle or Pareto's Law is a useful tool to help you prioritize and manage the work in your life. For example

• 80% of our revenues are generated by 20% of our customers.

• 80% of our complaints come from 20% of our customers.

• 80% of our quality issues occur with 20% of our products. Or we can say it otherwise

• 20% of our contributors provide 80% of our funding.

• 20% of our employees are responsible for 80% of sick days.

• 20% of my ideas generate 80% of my traffic on my blog.

The value of this Principle is that it reminds you to focus on the 20% of the things that matter. That 20% produces 80% of your results. Although it's a rule of thumb, this principle is used to plan the time and efforts of human beings.

There are so many examples in our lives where we are using this rule without knowing. Analyzing the work task, recording the food habits, daily activity log, reading, socializing, Emails, television shows, budgeting are some of the important activities where this rule is implemented on daily basis.

Talking about applying it to daily life, let us say if you start by making your morning time the most productive time, then you will have the rest of your day the best of your day. suppose if you do only 20-30 minute workout in the morning, you will feel energized whole day. The same formula is applied to your study as well, if you study with sharp concentration for only few hour, you will remember it for next few days. The meaning is very simple daily small effort (20%) are leading you towards (80%) success. But make sure whatever you do, you deliver continuous effort to make that 80% workout.

Without a doubt, I would say that 80% of our happiness is extracted from 20% of what we enjoy doing most. This would include being around family and friends, spending time in the outdoors, flying small airplanes, and doing household chores.

To take action you must start to focus on your outputs instead of inputs. This means consume less, don't focus on materialistic goods, and spend fewer evenings on the couch. Instead, start producing and creating for the world. Go out and volunteer for a non-profit in your community. Mentor a young person or donate time to make someone else's life better. Start focusing on others and helping them reach their goals. Teaching is one of the most rewarding things a person can do in life. You'll find teaching to be an amazing way to build trust with others, which will help in business and life. If you'd like to start a business, find a pain in the market and provide a solution to it. Finding answers to problems and helping others will take you to the next level.

One of the greatest things about the Pareto Principle or the 80/20 rule, is that it actually tries to make things easier for you! You could even say it's the lazy man's guide to achieving what you want. Because it's not about extreme changes and strict routines - it's about recognizing what 20% of things you do already on a daily basis, accounts for 80% of the results you want. Unfortunately, people would much rather be as they are (inputs) and not bother to make the effort (outputs) of applying such a basic principle into their daily lives in whatever area they want to improve upon. Make the effort, be an output. Find what you are good at and maximize it. Recognize the actions that produce the most results for you and your business and put your energy where the big rewards are.

https://ezinearticles.com/?Effectiveness-of-Paretos-Principle-in-Human-Life&id=9899357