The 80/20 rule (You need to know this!)

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The 80/20 rule (You need to know this!)

Never limit your growth.

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Today I shall introduce to you the powerful, magnificent 80/20 rule. Those unaware of it, are in for a delight and for those who need more clarity on the subject, I hope I clear your doubts.

The 80/20 rule, is fundamentally an aphorism that asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In other words, the 80/20 rule, also known as the Pareto Principle states a small percentage of causes have an outsized effect. This concept is important to understand because it helps you figure out which initiatives to prioritize in order to make the most impact in any of your desired fields.

To understand it better let’s see some examples —

20% of the input creates 80% of the result
20% of the workers produce 80% of the result
20% of the bugs cause 80% of the crashes
Simply addressed, the Pareto principle helps you ascertain the areas to focus your efforts on.

The 80/20 principle helps you bifurcate your tasks and resources; the important and the unimportant ones. It helps you increase your efficiency. Moreover, it also helps reduce wasting time and energy, resulting in improved productivity. The 80/20 rule helps you achieve the greatest success in the least amount of time.

At the outset, the 80/20 rule is about identifying an entity’s best assets and then efficiently creating maximum results. For instance, while appearing for an examination, we would identify the chapters of the textbook that will most benefit us for the upcoming exam and focus on those first. However, this does not imply that we should ignore the rest but focus on the important ones, that shall be our priority.

It’s not uncommon to see people who appear to be busy all day but seem to accomplish very little. This is almost always because they are busy working on tasks that are of low value while procrastinating on the one or two activities that could make a real difference to their careers.

To increase your productivity, you can use the 80/20 rule to prioritize the tasks that you need to get done during the day. The idea is that out of your entire task list, completing 20% of those tasks will result in 80% of the impact you can create for the day. Therefore, to get the most impact done, shortlist which tasks have the most impact and focus on those for the day.

To do this, list out all the errands that you need to get done for the day. Afterwhich, pick out which of those have the highest impact. Keep it your priority to accomplish the shortlisted tasks without further ado.

The advantages of using the 80/20 rule in your daily life include — increased productivity and efficiency, and it also helps you to get a bit more free time to enjoy your other hobbies. Additionally, it also helps you make strategies for your upcoming endeavors.

The Pareto principle was developed by Italian economist Vilfredo Pareto in 1896. This 80/20 rule can be applied to almost every aspect of your day-to-day. It can do wonders when applied properly, and leaves you with a sense of satisfaction at the end of the day, accomplishing your important tasks as well as being productive. At the least, it’ll help you grow exponentially.

Let me know your takeaways and other topics you would like me to write about in the comment section — I am eager to see what you have to say.

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I hope this helps you, and have a nice day!

CONTRIBUTED BY Jahnvi Mehta

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