80-20 RULE

The 80:20 rule is often known as the Pareto Principle or the Principle of Least Effort! If you have never heard of this read on...... This really works!
Pareto
Vilfredo Pareto was an Italian economist (1848-1923). On studying wealth in England, he discovered that 80% of wealth and income was held by only 20% of the population. He then applied this theory to different countries and found this ratio remained consistent.
Since then, this rule has been translated to many areas of life. Sometimes the ratios vary a little i.e. 70:30 or 90:10 but the basis rule persists:"The vital few, the trivial many"
80% of consequences come from only 20% of causes.
For example:
· 20% of your time accounts for 80% of your results
· 20% of your friends give you 80% of your support
· 20% of your clothes are worn 80% of the time
· 80% of sickness at work comes from 20% of the employees
· 80% of traffic jams occur on 20% of the roads
· 80% of your workload comes from 20% of your patients
So, does this mean that 80% of the work is performed by 20% of the workforce? I will leave you to work that one out!
Using the 80:20 Rule
Your task is to identify and focus on the 20% that gives you the 80%!