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Posted by moonbeam 2 years ago In:

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moonbeam Asked About '5 Time Management Tips'

The 80/20 rule of time management

I have heard this phrase before "The 80/20 rule states that 80% of outputs are the result of 20% of inputs" but I could not grasp it entirely.

My problem is, how  do I determine the 20% input that gives me the 80% output? 

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PGroot
PGroot Answered:

http://en.wikipedia.org/wiki/Pareto_principle

This will help in understanding the principle.  But it doesn't help you to analyze your business.

It's fairly common for 80% of the profit to come from 20% of the business.  That might be your best product, or one where you have a patent that protects you from competition.  You may have other products with competition that struggle to break even.

Sometimes it is 20% of your customers that provide 80% of sales.

In software, it may be 20% of the bugs that cause 80% of the complaints.

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OronD
OronD Answered:

The Italian economist Vilfredo Parreto was the first to realize that in most cases the world is not linear.  20% of all criminals create 80% of all the problems.  20% of your products bring 80% of your profit.   20% of your investments bring you 80% of the profit.   20% of one efforts provide 80% of one results. 
I hope it is clear by now.  Next step is to be smart and sensetive and find out what are those 20% of your input that provide you with 80% of your business output.  No one is able to do it wiithout knowing the details.  You'll have to do it by yourself (or hire someone who ill do it for you).   I can do it for you !. 

P.S - Vilfredo Pareto lived 1848 - 1923.  He was a very smart man !.  His footprints are in many fields up till today (e.g:  A Pareto analysis).  Google and I am sure you'll find much more.  I have several books about him.

Love is the battery of life....
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