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What if I told you that you can achieve more by doing less? No, I am not selling you a fake reality. The fact of the matter is that bigger isn’t always better, and the 80/20 Principle can back up this seemingly outlandish claim.
The 80/20 Principle, also known as the Pareto principle, dictates that 20% of what you do results in 80% of all your outcomes. It is a timeless rule that has always promoted the value of focus. So much of our daily output is determined by a relatively small amount of what you do each day when you focus on your most productive task.
It fully debunks a few time-honored myths such as multitasking; when you attempt to focus on everything at once, you end up not really focusing at all.
The man behind this rule (an Italian economist called Vilfredo Pareto) made this realization after evaluating income distribution in Italy, where he saw that 80% of the country’s income went to only 20% of the population. This ideology revolutionized how people handled, not only business dealings but also life growth.
Think about it. For example, 80% of the pleasure comes from 20% of the music you listen to, 80% of your stress is caused by only 20% of stressors, 80% of news coverage is based on 20% of world events, and so on. And the inverse holds weight. For example, 20% of your wardrobe is worn 80% of the time. It truly is a rule that translates to our day-to-day activities.
So, how can you apply it? That’s easy. All you need to do is follow a simple formula: Purpose + Priority = Productivity.
Your purpose is the basis of any goal that you may wish to achieve. Before you make a decision, ask yourself, “How does this serve my purpose?” If a decision is not in line with your purpose, then you cannot achieve your goals. That is the importance of identifying and understanding your purpose.
Once you’ve gotten that out of the way, now it is time to check your priorities. Narrow them down as much as you possibly can. Try and understand what might be stopping you from living in your purpose. Write down five things that you could start doing today as you continue to find ways to create and improve your process.
And finally, you need to create action items. Smart goals that are measurable, achievable, realistic, and within a timeframe. These are the 20% of the things you’ll spend your time doing to achieve the best results.
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