Time Management Is Really Life Management - 80/20 Principle
In 1906 there was an Italian economist named Vilfredo Pareto . One day Pareto noticed that every year, 20% of the pea pods in his garden produced approximately 80% of the peas. This got him thinking about economic output on a larger scale. Sure enough, he began to find that in various industries, societies and even companies, 80% of the production often came from the 20% most productive faction. This became known as the Pareto Principle , or what is now often referred to as the 80/20 Principle. The 80/20 Principle states that 80% of the output or results will come from 20% of the input or action. The 80/20 Principle has historically been most popular in business management situations. Businesses often found that roughly 20% of their customers brought in 80% of their sales. They found that about 20% of their sales reps closed 80% of the sales. They found that 20% of your costs led to 80% of their expenses. In terms of time management, they often found that 20% of their time created 80