When I first read about the 80/20 rule, or the Pareto Principle, I had a healthy skepticism for it. I couldn’t wrap my head around how 80 percent of my work would only lead to 20 percent of results and that the remaining 20 percent of my efforts would lead to 80 percent of my profits. Over time, however, I started to see some patterns that would prove the 80/20 rule to be completely true. Once I took steps to implement what I learned from it, I doubled my income in about two months! Read on to learn how it happened and how you can apply the 80/20 rule to your business.
Does the 80/20 Rule Apply to Your Business?
When I still had my old day job, I took some time to assess my projects and found that the 80/20 rule held true to some extend. There were some projects I was incredibly efficient at completing and always impressed my boss. Others took up a ton of time and led to huge frustration for little reward. By focusing on the projects that led to the best results, I was able to improve my efficiency and landed a promotion with a fat raise.
80/20 rule applies to many businessmen. fizkes/Shutterstock
