WHY LESS IS MORE: THE PARETO PRINCIPLE IN A NUTSHELL - ALBERT ELISHA OBERDORFER
The idea of working less to achieve more sounds counter-intuitive, right? Yet, an Italian economist by the name of Wilfredo Pareto discovered a powerful principle that says that the majority of results is the result of a minority of causes. Pareto noted an 80/20 ratio. 20 % of something causes 80% of the results. And vice versa: 20% of input causes only 20% of the results. If this is true—and countless studies have shown this is to be the case in all areas of life—then we should do less of what doesn’t work, and focus more on what does. So we can achieve more by working less. Find out how you can apply the Pareto principles in all areas of your life by doing less, not more. You will be amazed.
The idea of working less to achieve more sounds counter-intuitive, right?
Yet, an Italian economist by the name of Wilfredo Pareto discovered a powerful principle that says that the majority of results is the result of a minority of causes.
Pareto noted an 80/20 ratio.
20 % of something causes 80% of the results.
And vice versa: 20% of input causes only 20% of the results.
If this is true—and countless studies have shown this is to be the case in all areas of life—then we should do less of what doesn’t work, and focus more on what does.
So we can achieve more by working less.
Find out how you can apply the Pareto principles in all areas of your life by doing less, not more.
You will be amazed.
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5 <strong>PARETO</strong> ANALYS<strong>IS</strong>.<br />
DO<strong>IN</strong>G a Pareto analysis means you are<br />
trying to figure out what are the things that<br />
make a real difference.<br />
For example, there will be a few customers<br />
in a business who will generate the majority<br />
of the revenue.<br />
This means that not all customers are the<br />
same.<br />
Focus on the customers that bring in the<br />
most revenue,<br />
Fin find out how you can serve them better.<br />
This will have a more significant effect<br />
than if you are trying to please all your<br />
customers.<br />
Or let’s say in the area of a relationship.<br />
If you can find out what your partner likes<br />
and then zoom in on those things, it will<br />
have a disproportionately positive effect<br />
on your relationship.<br />
The same goes for all areas of life.<br />
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