Introduction:
The 80/20 principle, also known as the Pareto Principle, was first introduced by Italian economist Vilfredo Pareto, who observed that 80% of the land in Italy was owned by 20% of the population. This distribution pattern generated a potent concept suggesting that roughly 80% of effects come from 20% of causes.
While it may seem doubtful that an observation of land ownership discovered by a 19th century economist could apply to modern life, there are too many examples to dismiss the potential.
- 80% of the world’s wealth is controlled by 20% of the population
- 80% of a company’s output is produced by 20% of its workers
- 80% of media shares are by 20% of posts
- 80% of computer glitches are caused by 20% of reported bugs
- 80% of crimes are committed by 20% of criminals
In his book “The Four Hour Workweek” Tim Ferris suggests that we apply the Pareto Principle to determine the tasks we should focus on to achieve the best results in the least amount of time. There are many other books outlining how to apply the Pareto Principle to business, allowing one to improve efficiencies in marketing, management, and other business functions.
But, why not apply it to other areas of life to reap the greatest benefit with the least effort?
How to apply the 80/20 Principle to Life:
To apply the 80/20 principle to your life, you first must do some analysis to determine where you will reap the greatest benefit. There are two approaches one can take, and they are not mutually exclusive. You can begin by focusing on the areas that cause the most friction and work on eliminating the friction. Or, you can focus on the areas that bring the most joy, and try to maximize them.
Life is, in many ways, like a hand of Poker. You only get so many cards and you have to discard some to make room for new ones. As you limit the time you spend on tasks you don’t enjoy, you can actively increase the amount of joy from activities you do enjoy.
Examples of What to Minimize and How
Home Organization:
Clutter. Walk through your home and list the areas that cause the most grief. Some areas might be addressed in a short amount of time, such as grouping items into a collection, or corralling items on a tray to reduce visual clutter. The items are still there, but they are visually pleasing. Other areas need more effort. Instead of throwing up your hands because your bedroom is a disaster and you don’t know where to start, identify the 20% that will have the biggest impact. Perhaps it’s clearing off the dresser. Or simply putting clothes away. Or making the bed. Do that, and move on to the next room or area and repeat the process. If you’re not sure what will make the biggest impact in an area, pay attention to what catches your eye when you first walk in. If that doesn’t work, try taking a picture as something that you’ve become accustomed to seeing might jump out at you.
Nutrition:
Most of us would like to eat better, and almost everyone has an idea of how to do it. The monkeys and I are participating in a Blue-Zone Challenge (Do I Really Want to Live to be 100?). I believe that just about any diet will work, if you follow it consistently over a time. And the main problem with a diet is that it ends. Diets aren’t the answer, lifestyle changes are. Look at what you currently eat and when, and give some thought to long-term changes that you can make. For me, I eat pretty healthy during the day, but at night I would mindlessly snack on junk food, so simply implementing a no-eating-after- 8pm rule was something I could change that has had a big impact. For you it might be planning dinners or making lunches to take to work with you. Be sure to play to your strengths. If you aren’t a fan of cooking, try finding some simple sheet-pan dinners and use convenience foods like pre-cut broccoli. And consider your tastes as the easiest, healthiest stir fry won’t do the trick if you’re not a fan of Asian food.
Finances:
If you’re looking to save some cash for a trip (see Top 6 Tips for Saving Money on Airfare) or a large purchase, look at where you spend your discretionary income. On-line purchases are a hot topic these days. If you go through your order history, are you happy with where your money went? What about those automatic subscriptions? Magazines? Clothes? Consider that most experts say that we derive greater pleasure from experiences than objects. Look through a couple of months’ worth of bank and credit card statements, and see if there’s a simple change that will let you easily align your spending with your goals.
Personal Relationships
Most of us like spending time with our friends and family. If we’re honest, however, we can identify certain relationships that have a greater impact on our well-being than others. I’m not suggesting that you spend less time with your Aunt Mildred (or maybe I am?), but invest time and energy in nurturing those relationships that enhance your overall happiness. Text them often, schedule regular calls, put their birthday in your calendar so you remember to send a card, invite them out for lunch or coffee. I have some friends that I don’t connect with regularly, but whenever we do, we always comment on how we’re able to just pick up where we left off. However, just because our friendship can weather long separations, that doesn’t mean they should. Make the effort.
Activities
Make a list of activities you enjoy, and make time for them. It could be blocking out time to read or knit, crochet, build model airplanes. Think back to what you enjoyed doing when you were a kid. Is it something you might still be interested in? Perhaps being in nature, so plan to go out for a walk. Is there a latent talent that you would like to explore? Whatever it is, consider if it’s something you would like to do with others. Even if you enjoy a solitary activity such as reading, there are many book groups for different genres that meet in person or virtually. Most activities have a group that can be joined which might increase your enjoyment even more. But, if that’s not the case, or you’re just not interested in a group activity, you can increase your happiness by spending time doing what you enjoy by yourself for yourself.
Conclusion
The 80/20 principle is a versatile tool that, when applied strategically, can lead to significant improvements in various aspects of life. Identifying and focusing on the most impactful elements will allow you to avoid being overwhelmed and achieve more with less effort. Whether in time management, business, health, or relationships, unlocking the power of the 80/20 principle can pave the way for a more efficient and fulfilling life.
For More Information:
The 4-Hour Workweek by Timothy Ferris
80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More by Perry Marshall
The 80/20 Manager: The Secret to Working Less and Achieving More by Richard Koch
