The 80/20 rule aka Pareto’s principle is one of the best time management practices. It makes you better with your planning, time, effort, goals, and everything in general.
What is Pareto’s 80/20 Rule
According to this rule, 20% of efforts give 80% of the result, and the remaining 80% give only 20% of the outcome.
It was invented by an economist named Vilfredo Pareto in Italy in 1906 when he observed that 20% of the pea pods in his garden provided 80% of the peas.
Later on, he found that 20% of the population in Italy owned 80% of the land. It isn’t just limited to it, Pareto’s principle can be also applied to real-life scenarios such as business sales, economics, production, software, and mobile app development, etc.
It can be summarized as:
- 20% of inputs create 80% of outputs
- 20% of customers and products generate 80% of total profits
- 20% of clients contribute to 80% of the total money
- 20% of bugs and errors cause 80% of software crashes
How to Get Started With 80/20 Rule
Now the real question arises if the 80/20 rule is as effective in real life as it looks on paper? The answer is YES.
Anyone who is implementing the 80/20 rule smartly will see dramatic results in their efficiency. Here’s how you can use Pareto’s principle to achieve more in life.
- Take a piece of paper and write 10 things to accomplish today.
- Select one task which is most important and impactful.
- Do that again and choose your second most important task for the day.
- These two tasks are 20% with 80% of the outcome.
- Focus on completing these two tasks within the desired time frame, then accomplish the remaining ones.
The whole point of doing this exercise is to figure out 20% of tasks capable of producing 80% of the outcome. It also gives you the perspective to not get carried away with menial tasks and be 100% focused on doing what matters the most.
Doing so can help you achieve a great level of success and fulfillment in both personal and professional life.
Real-life Examples of 80/20 Rule
Let’s take a look at the following real-life scenarios where 80/20 rule can be applied successfully.
80/20 Rule in Web Development
The practicality of Pareto’s principle makes it possible for it to be applied in web development too. A research found that only 20% of app features are mostly used while 45% of them are never even used.
By applying 80/20 rule with Agile methodology at every product development stage, one can direct 80% of the team efforts on the most important aspects of the app development process making it more reliable and efficient. This way, you get 80% of the total time to focus on the essential features and the remaining 20% could be used to develop the remaining features of the mobile app or software.
80/20 Rule in Testing
It is also found that 80% of crashes are due to 20 percent of the common bugs. So, the 80/20 principle can also be applied in the testing field of mobile app or software development. The next step is to identify 20% of commonly reported bugs or errors and mark them as high-priority.
This practice could lead to early identification of 20% of the common bugs and their timely elimination making the testing process more effective than ever.
80/20 Rule in Business
Whether or not you believe it, many successful businessmen, entrepreneurs, investors, and strategists already know about the 80/20 rule and have been using it to close more deals and gather more clients.
The key is to know 20% of your company’s customers which are responsible for 80% of its sales. Also, find out that 20% of employees contributing to 80% of the profits and outcomes. Thus, the 80/20 rule is helpful for business managers to focus on 20% which is going to give 80% of the results and profits in their business.
In conclusion, the 80/20 rule aka Pareto’s principle is an excellent practice to boost your overall productivity and bring a structure to your lifestyle. The best part is that it can be applied in any area of your life.
All you need to do is to identify that 20% that does 80% of the work. The rewards include more efficiency, fewer mistakes, reduced effort, and more leisure time.
So are you ready to apply the 80/20 rule in your life? Don’t forget to share your experience in the comments below.