Tuesday, August 28, 2007

More with Less

The Pareto Principle, or the 80/20 Rule.
The 80/20 Principle states that 80% of results, rewards, or outputs are generated by 20% of causes, efforts, or inputs.
In other words, when it comes to getting the results you want, only a very few things you do really matter. The rest...well, they're just a waste of your time.

Business philosophers love to talk about the 80/20 Principle, because it applies so clearly to corporate situations. You've probably heard it said that 80% of profit comes from 20% of customers, or that 20% of a company's staff generates 80% of its productivity.
But the 80/20 Principle is much, much bigger than that. It's a universal, natural fact, proven over and over again in scientific research. And it's visible in nearly every imaginable circumstance.

For instance, in the wider world, roughly:
20% of thieves account for 80% of the value of all crime.
20% of drivers cause 80% of all car accidents.
20% of any community's population utilizes 80% of its resources.

And if you look at your own personal life, you'll find that about:
20% of the time you spend at work accounts for 80% of what you achieve
20% of your clothes are worn 80% of the time
20% of your home's carpeting receives 80% of the wear

These fascinating little statistics demonstrate the truth of the 80/20 Principle —  
The secret to using it as a tool for massive life transformation — lies in finding, focusing on, and 
exploiting the most important 20% of your resources in every situation in your life.
It is about learning to identify the things that matter most to you and add the most value to your life...Shifting the majority of your energy and attention to those things and disregarding everything else.

In theory, applying the power of the 80/20 Principle is really quite simple.
You see, we've all been ingrained with 50/50 thinking. We intuitively believe that hard work will bring about equal results. That cause and effect are equally linked.

The 80/20 Principle demonstrates that just the opposite is true. The world is imbalanced. Everything isn't fair. Working really hard doesn't necessarily mean you'll be amply rewarded. 

Hardly working at all can sometimes make you a multimillionaire.
This can be a very difficult idea to get your mind around. It can be even harder to put it into practice. 

After all, we're programmed to believe that a truly productive workday must consist of eight hours at a minimum. It can feel impossible to cut that down to just one or two hours, even when the results you're generating are the same or even better.

I wish You Great Success.

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