The Pareto Principle was created by economist Vilfredo Pareto, who claims that 80% of an output is determined by 20% of the input. This practice has been adopted by many in the business world because it helps them identify which areas to put more effort into and what to improve on. Pareto Principle isn’t just a method that can be practiced in the business world, but can also help change and improve your life.
This method is a great way to identify what you focus on and what you should be focused on. After identifying what your 80/20 efforts are in your life, then you can start to improve on them. What is the 20% of activities that you do daily that takes up 80% of your time? If you are spending 20% of your time on social media, then 80% of your effort goes to waste instead of something productive. So, switch to an activity that can benefit you like learning a new trade or reading a motivational book.
What are your favorite articles of clothing (20%) that you wear 80% of the time? If you see that you own so much clothing but notice you only where the same five outfits, then it’s time to part with some stuff. Identify the pieces you never wear and sell or donate them.
Are the 80% of people you hang out with only causing 20% of your happiness? If you see that these people aren’t making you happy, maybe it’s time to let them go. This might be difficult to do at first, but it’s best to keep in mind that these people aren’t beneficial to you, so there shouldn’t be any reason to keep ties. Not only does it help with time management and relationships, but it also can help identify your type of lifestyle and how to fix it.
What type of food (20%) do you eat 80% of the time? If you noticed that the 20% of food you consume on the daily isn’t the best for your health, then try changing what you eat. The 80/20 view helps to put everything in perspective, making it easier to make these changes.
Now that you know how it works, try it out! Use this principle to asses parts of your life that you want to improve and see what needs to be changed.