80 20 PRINCIPLE TIME MANAGEMENT PROFESSIONAL

With the time you save on your work tasks by using the 80 20 principles, you have more time to devote to personal enrichment, relaxation, exercise, mental health, and relationship building.Īpply the same Pareto analysis to these items. This includes what pays well now as what will pay off the highest dividends down the road. To avoid this cycle, it is better to identify the 20 percent of tasks related to creating income that leads to the highest payoff. This type of behavior actually creates a skewed work-life balance that can become unhealthy, lead to burnout, decrease productivity, and even give up on goals that once seemed so important. Pareto Principle In Time Managementīeing busy is not the same as being productive, according to Pareto’s principle.Įntrepreneurs, small business owners, and self-employed individuals often feel they have to work excessive hours to produce profits and avoid working for someone else.

Here are six examples of how you can apply the Pareto Principle to different circumstances. To understand how the 80 20 rule works, it often helps to see it in action in real life.

80 20 PRINCIPLE TIME MANAGEMENT PROFESSIONAL

Some additional benefits of using the 80 20 principles in your personal and professional life include: The most valuable tasks you can do each day are often the hardest and most complex, but the payoff and rewards for completing them can be tremendous, according to the Pareto analysis.īefore you begin work, always ask yourself, “Is this task in the top 20 percent of my activities or in the bottom 80 percent?”īy applying the 80 20 rule, you can not only hone in on the things that will bring your greatest success but also identify the main causes of problems or lack of progress. This is almost always because they are busy working on tasks that are of low value while they are procrastinating on the one or two activities that could make a real difference to their companies and to their careers. It is not uncommon to see people who appear to be busy all day long but seem to accomplish very little. The 80 20 rule helps you weed out what is not important and focus on the 20 percent that will help you achieve the greatest success in the least amount of time. We all wish we had more time in the day to accomplish the things we want to do. It helps reduce wasting time, money, supplies, efforts, emotions, energy, and so on. The 80 20 principle helps you decide which resources are the most important for you to use to achieve the greatest efficiency. Simply put, the Pareto Principle helps you determine which areas to focus your efforts on. Juran called this strategy the Pareto Principle, and he also made popular the notion that we should focus on the “vital few” and ignore the “trivial many” to have the greatest success. So by using this Pareto analysis, he focused on reducing that 20 percent of production problems to increase production quality. He helped businesses improve production by noting 80 percent of their product defects were caused by only 20 percent of their methods used in production. In the 1940s, Juran applied Pareto’s observations to his field of operations management. The term Pareto Principle was not coined by Pareto, however, but by Dr. This distribution of wealth is an example of Pareto distribution. In the late 19th century, Italian economist, Vilfredo Pareto, noticed that 80 percent of the pea pod harvest from his garden came from 20 percent of his pea plants.īased on Pareto’s observation, he then calculated that 20 percent of the people in Italy owned 80 percent of the country’s wealth. This can apply to any area of your professional and personal life. The key to following the 80 20 rule is to identify that roughly 20 percent of your actions or most productive tasks lead to the most success. The Pareto Principle states that 20 percent of your activities will account for 80 percent of your results, however, it is not a hard and fast mathematical law.

The 80 20 rule, otherwise known as the Pareto Principle, is one of the most helpful concepts for life and time management. Today, I will explain what the 80 20 rule is, why it is also called the Pareto Principle, examples of how it is used in real-life situations, and how you can apply it to your life to achieve the success you are looking for.

You can apply it to any aspect of your life, including at work and home, with fitness and health, relationships, and personal progress. The 80 20 rule is a tried and true principle that can set your life up for success.

80 20 principle time management