What is the Pareto Principle? 

Pareto Principle (80/20 rule) was developed by Italian economist Vilfredo Pareto in 1896. It states that roughly 80% of outcomes come from 20% of causes. Applying this principle to your work can help you determine your priority for each task and optimize your time. 

Examples of Pareto Principle:  

  • 80% of your daily routine affects 20% of your future 
  • 20% of your team’s ideas result in 80% of the project’s success 
  • 20% of the hours per workday creates 80% of the productivity 
  • 80% of a company’s revenue comes from 20% of customers 

How to apply Pareto Principle in your work 

  • Step 1: List out all the things needed to get done during the day 
  • Step 2: Identity which tasks have the most impact on your project 
  • Step 3: Plan to delegate or remove activities producing less return 
  • Step 4: Create a schedule to complete tasks in order of priority 

Benefits of using the Pareto principle 

  • Defining clear priorities for both you and your team 
  • Improving time management and leadership skills
  • Utilizing your resources better 
  • Boosting daily productivity 

Misconception & Fact:

  • Misconception: Only focus on more important tasks and ignore other less important ones. 
  • Fact: Try to invest your resources into things in order of priority without putting aside the rest of your tasks.

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