pareto principle | magicalmindfullivin

The 80/20 Rule Doesn't Mean What You Think: Myths About the Pareto Principle

I am sure you have heard about the 80/20 rule or Peretto principle which states that 80% of the outcome is achieved by 20% of actions. However, there is more to this simple rule and more and more context which it is applied. You might be a student and say 80% of your exam results are due to only 20% of your work. If you are an entrepreneur 80% of your profit is gained by 20% of your operations. Obvious question one would then ask is AM I WASTING MY TIME? Am I wasting my time?

5 hours ago3 min read