The 80/20 PrincipleThe 80/20 Principle, developed by Vilfredo Pareto, is often used in sales and marketing statistics. For instance The 80/20 Principle might reveal that 80% of your turnover is derived from 20% of the user base. Perhaps only 20% of your profit comes from 80% of sales or perhaps 80% of your profit comes from just 20% of the customers. Not necessarily 100% specific but quite near enough to give food for thought when analyzing your time, money and resource utilization. The key to profiting from Pareto’s Law of The 80/20 Principle is to identify its existence in any given situation and act appropriately. So, if you can locate your own critical 20% you will transform the effective use of your time and lifestyle; for ever.
In his penetrating analysis of the The 80/20 Principle Richard Koch reveals the mysteries of this amazing principle and just how they work and how they can be applied to your life.
Richard Koch examines The 80/20 Principle and arrives at these conclusions:
The implicit effect of The 80/20 Principle is that you must concentrate on the those things of consequence in your life. Then, and only then, will you unlock that vast potential of the 20% which will add to your life and create a happy and joyous fulfillment.
Systematically applied, The 80/20 Principle will become the lynch pin of your being and provide the power you need to rise above the demands of contemporary life…so there’s a lot more than meets the eye in Mr Pareto’s The 80/20 Principle.
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