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Showing posts from June, 2023

The 80/20 Principle or Pareto principle...

Small things we do can make big changes in our lives. Today, we will learn about a rule that is related to this idea. This rule is called the 80/20 Rule.      According to this rule, 80% of the results come from 20% of the actions.  It was discovered by a person named Vilfredo Federico Damaso Pareto, so it is also known as the Pareto Principle. When he studied the world economy, he found that 20% of the people own 80% of the money in the world.  He also found that 20% of his pea plants make 80% of the peas.   Similarly, 80% of a company's profit comes from 20% of its customers. He saw this pattern in many situations, which led him to create the 80/20 rule or the Pareto principle.  By using this rule correctly, we can achieve success.   For example, let's say we feel very worried and there are 10 problems causing our anxiety.   Out of these, 2 problems (20%) are responsible for 80% of our worry. If we find and solve those 2 problems, most...