80/20 Rule – Vilfredo Pareto was a renowned economist of Italy. Once while he was still studying, he was reading articles on wealth distribution and income in England in 1897. Then he came to know a unique thing, that the occupied land and money of England are in the hands of only a few people. Not only this, he was also surprised to know that only 20% of the people own the entire land of England.
The economist’s curiosity increased as soon as this fact came to the fore, and he studied it very deeply and found out from research, that this principle proved to be true not only about other countries and other times, but absolutely true about things other than money.
This rule states that any work in which we give maximum labor, 80% of the work gives us a good result of 20% of the labor. Whereas, on the contrary, 20% of actions give a person 80% good results i.e. achievement of the goal.
It will be clear from just a small example suppose, in a garden, if 80% of peas are cultivated in a garden, only 20% of pea pods are coming out. In this way this principle was formulated, it is also called Pareto Principle or abbreviated 80-20 principle. It is scientifically applicable to other things as well. Such as business, relationship, studies and health.
Where can we apply Pareto/ 80-20 Principle?
- From study point of view: – It is generally seen that some students read the entire text material completely. When their exams are near. Even after reading everything, he could not remember a single question very well. he leaves after spoiling the paper.
- Schedule Your Study Time: – Another thing a student can do is use the 80-20 principle. The first student studies from morning till evening during the examination to fix the proper time of study. Which is absolutely wrong. On the other hand, if we talk about the other students, he gets up at the appointed time and studies in a planned manner. So that his entire attention gets focused towards studies. Apart from other activities are also included in his daily routine. Even after the examination, he does not bring any kind of change in his routine. So that he gets good marks in the examination.
How To Apply Pareto Principle:
First of all, a person should decide the time, which work should be completed at what time. For this, you have to make a list, prepare this list for only 1 week, pay attention to the activities of a week, then you will know that as well as be surprised, you will get only 20% in the routine that went 80 percent of the planned routine. The activity itself is yielding good results.
Now your second task will be that you will reduce 80% of the tasks from your routine, and 20% will be oriented towards the tasks giving successful results, so that you can get 80% good results.
Advantages of Pareto Principle:
1) If you want to become a successful businessman, then to achieve this goal, under 80-20 rule, first of all, give priority to those tasks, so that your business can reach heights.
2) By applying this rule in student life also, the student can achieve his goal. For this you should study with special attention on selected important topics by staying in discipline at a planned time. This will focus the person, as well as The goal will be achieved.
3) Apart from studies, money, relationships are also very important for a person. It is very important to give importance to loved ones along with work. Using the 80-20 Rule, you will find that a successful person gives enough time to his close relatives, who stand like a rock in their sorrow and happiness.
4) It is not that you follow the 80-20 rule only to achieve a particular goal, you can also use it to make your routine effective, for this you will have to give special time to the work that you need Get better results.
In this way you must have understood, how far Pareto’s 80-20 rule is meaningful in making a person successful. How it can give a person great success in a short period of time. Not only this, it is also very effective in achieving you any goal. Whether it is business, education and relationships, everyone’s only goal is to make a person successful.
Sometimes success is not achieved even after putting a lot of effort, the reason behind this is that the person does not have any effective plan of his own, he wants to be successful only with the help of labor. Whereas for success, a person has to make various changes from time to time. Only then the person gets success. In order to be successful, a person should work in a phased manner with planning and diligence. This is only possible through an 80-20 principal.