The 80/20 Principle
Tip to Feel good and work smart!
In our news
letter from September 2008 we asked you to send us ideas how you 'Feel good, work smart!'
We were overwhelmed by the number of reactions, thanks for sending us
the tips!
On of the tips that we received was the '80/20 Principle' also known as
the 'Pareto Principle' or 'The Vital Few and Trivial Many Rule' is very
powerful: - the fact that 80% of results flow from 20% of causes - is
the one true principle of highly effective people and organisations.
The 80/20 Principle shows how you can achieve much more with much less
effort, time and resources, simply by concentrating on that all
important 20%.
The rule is discovered a long time ago (1906) by the Italian economist Vilfredo Pareto. He discovered that 80 percent of the land in Italy was owned by 20 percent of the population. Later, he observed this noteworthy ratio seemed to apply to other parts of life, such as gardening: 80 percent of his peas were produced by 20 percent of the pea pods.
More than 100 years later the Principle still applies! A good book to read about the 80/20 principle is the best seller 'The 80/20 Principle - The Secret of achieving more with less' by Richard Koch. Check out your local book store, or if you want to buy online:
- If you are in NZ click here.
- If you are in AU click here.
Did you know that ...
- 80% of your business comes from 20% of your clients
- 20% of your processes give 80% of your performance
- 80% of your employees give 20% of your head aces
- 20% of your colleagues give you 80% of the support and satisfaction you need
- 80% of your management time goes to 20% of your employees
- 20% of the workers produce 80% of the result
- 20% of the IT bugs cause 80% of the crashes
- 20% of the features of a product cause 80% of the usage
- ...
