The Paredo Principle was named after the economist who, in 1906, first noted that 80 percent of the Italian farmland was owned by 20 percent of the population. His focus, on this theory, confirmed his findings and lead to the principle that (good or bad) 80 percent of your results will come from 20 percent of your actions; known today as the 80/20 Rule. Richard Koch describes it as, “The principle of greatest outcome for time and effort expended.” He discloses that time and effort alone may give you results, but that time and effort spent on the 20 percent delivers 80 percent of the results. Timothy Ferris illustrates the point of focusing on the most effective 20% in
his book, “THE 4-HOUR CHEF – The simple path to cooking like a pro, learning anything and living the good life.”
The distribution is claimed to appear in several different aspects relevant to entrepreneurs and business managers. For example:
- 80% of a company’s profits come from 20% of its customers
- 80% of a company’s complaints come from 20% of its customers
- 80% of a company’s profits come from 20% of the time its staff spend
- 80% of a company’s sales come from 20% of its products
- 80% of a company’s sales are made by 20% of its sales staff
Therefore, many businesses have an easy access to dramatic improvements in profitability by focusing on the most effective areas and eliminating, ignoring, automating, delegating or retraining the rest, as appropriate. (Section Source: wikipedia)
Today, focus your efforts on those that potentially deliver the greatest results by the end of the year.
This is the 6th Annual 100 DAY CHALLENGE to the end of the year.How are you doing on your 2014 goals? Do you have your ACTION PLAN yet? What one thing can you do today to get you closer to your goal? There is a natural tendency to drift and lose focus as we approach the end of anything. Drift can kill momentum and zap energy causing you to lose sight of the goal. Take stock of where you are (right now) and use the final 100 days of the year to encourage, clear the clutter and build momentum. This year we a look at – WHATEVER YOU PUT TO USE GROWS – how it may help you or hurt you.
Suzy Graven is a Writer, Speaker and Life/Work Strategy Coach. She produces documentaries and leadership training seminars under the banner “Woman Behind the Brand™”. Her unique experiences provides a doorway to work and learn from amazing leaders, CEOs, entrepreneurs along with the sage of those who work closest to nature. This perspective serves as a catalyst for women wanting to grow their professional and personal lives. It leads to a thinking (anchored in real possibility) that generates vision and translates into effective action. You will gain power in dealing with every-day issues, and become free to live a major league life. Go to http://suzygraven.com. For information on Suzy’s coaching and to book a her as a speaker, send your requests to: firstname.lastname@example.org.