Study says 80:20 principle (Which is also known as PARETO principle) is not only country or time specific but it applies to almost every other thing around us. It applies to Business, Social Life, study and many other things. This principle says 80% of your results come from 20% of your efforts. But we are programmed to believe More Efforts = More Results. Let’s see some examples to understand.
- Only 20% criminals are responsible for 80% of the crime.
- 20% of clothes you wear for 80% times
- 80% of books are sold of only 20% authors
- 80% of your social media posts are liked by only 20% of your friends
And many more…
Now, numbers may vary a bit but this principle applies most of the time.
Caution: This principle doesn’t teach us to work less but it says to focus our energy and time on things which gives highest results. Let’s see how it applies in our life.
Business: Most startups spends their time, energy and money on things which are less important such as website, logo etc. Website and logo might be helpful for marketing but it won’t attract customer to buy your product or services. Instead focus on delivering better quality product or services which is more important because only 20% of clients give 80% of your business. And 20% of your clients raise 80% of complaints.
Social Life and Happiness: We believe lot of friends would give lot of joy and happiness and hence we try to be good friends with many people. But the truth is 80% of your life’s fulfillment comes from only 20% of your friends. So spend 80% of time with those 20% friends who are really helpful and you also like to spend time with them.
Study: We all must have experienced this during our exams. People study hours together since they feel to study hard and read each and every word in the book to pass the exams. But it’s not true. Try to know the important questions from teachers and friends and study previous exam papers. That would help you to make ‘What to study’ list which are more likely to be asked in exams. You can study them with more focus and understanding and then focus on less important chapters.
To conclude, find out that 20% in all your work or actions carefully and focus more on that to get optimum results.