The 80/20 Principle

bylanesamarie

3.1K followers

10 years ago

For sure most of your know this principle but, if you don't here is the explanation:)

One way to determine how to direct your time is to apply the 80/20 principle, which means that approximately 20 percent of what you do yields 80 percent of the results, conversely, 80 percent of what you do yields 20 percent of the results.

This principle was first described by Vilfredo Pareto, an Italian economist, who observed that 20 percent of the people in Italy owned 80 percent of the wealth. Examples of the 80/20 principle can be seen in most areas of our professional and private lives.

• If you are in sales, 20 percent of your customer often yield about 80 percent of the dollar value of your sales. Look for trends in sales, identify that lucrative 20 percent, and allocate your time accordingly.

• In administration and supervision, 20 percent of your employees often do 80 percent of the work. Giving recognition and motivating the appropriate employees will give you a very high return on you invested time.

• In customer relation time, about 20 percent of the customers make 80 percent of the complaints. Keep your perspective and don't let the significant few influence the service you give your other customers.

• Twenty percent of the newspapers has 80 percent of then news. Skim the rest

• Twenty percent of your to do list and your paperwork yield 80 percent of the value. Learn to recognize and concentrate on those items and finish the others as quickly as possible with the minimum standards required.

If we apply this 80/20 rule Wealthy Affiliate is the secret to our success...that would be nice! We are all then be called Wealthy Affiliate success story.

Happy Black Friday Everyone!