Some things we do have a much greater significance than others. In fact, as a general rule, 80%
of what we achieve comes from just 20% of our activities.
The Italian economist Vilfredo Pareto first discovered this principle in 1897, but since then there have been
many other studies, which have drawn the same conclusion.
If you are in business take a look at your client list
- it won’t be unusual to find that about 20% of your customers are providing 80% of your profit. This probably also
means that 80% of your activities are being focused on clients that not only account for a small amount of your revenue, but
may well be losing you money.
As an organisation
20% of your communications are probably responsible for 80% of the things your customers or audiences know about you.
The 80/20 Principle is a guide - in some cases it may be 99 to 1 or 70 to 30 - but the overriding
imbalance is nearly always there in every aspect of what you do and achieve.
So why is this important?
By taking the 80/20 Challenge you will increase the focus
on the important things that will achieve the greatest results.
You will develop clarity about
what the right goals are and how to set effective action plans to achieve them. You will enjoy greater
success without using unnecessary additional resources.
And you will start to re-address the balance that will help you enjoy and succeed in the things
you do both at work and in your private life.
