For many outcomes, roughly 80% of consequences come from 20% of causes.
The ‘Pareto Principle’ named after Vilfredo Pareto, an Italian economist, was built on his observations that 80% of the wealth in Italy belonged to about 20% of the population.
How are you filling your life with 20% of your experiences that provide 80% of your happiness?
– 80% of your work takes 20% of your time.
– 80% of your results come from just 20% of your effort.
– 80% of your revenue comes from just 20% of your products and customers.
So, how can you improve your odds and give your startup 80/20 chance of success?
📈Hyperactivity vs. Productivity: Being busy is not the same as being productive.
🥰Get intimate with ideal customers: focus on 20% of your target market: Not all customers are created equal.
🎭Step out of the drama: Drama is a diversion that keeps us busy and not moving forward, it absorbs all our attention.
In a chronically leaking boat, energy devoted to changing vessels is more productive than energy devoted to patching leaks. Use the 80/20 rule to pick out the imbalance of effects, maximise the small and powerful 20% and reduce the wasteful 80%. Go on, give it a go.
Thanks Ian. Great advice! I’ll try to focus and stop being a ‘Manic Martha’. 🤪