Maximising Success: Applying the Pareto 80/20 Principle in Life (Part 1)

I taught my students “The Pareto Principle” while lecturing on a topic (process optimisation) in a final-year chemical engineering subject (production engineering). Going through my personal notes recently, I saw I had penned down thoughts on extending this principle to other facets of life, and I had used it for sermons and leadership training. So, I decided to expound on these and share. While I am not a specialist in all the areas highlighted in this post, I believe this timeless principle is useful, as it aids us to “major on the majors & minor of the minors, instead of majoring on the minors or vice-versa.”

Commonly referred to as the 80/20 rule, it is a powerful concept that can boost productivity and efficiency in both personal and professional contexts. This theory—named after the Italian economist Vilfredo Pareto—postulates that 20% of efforts yield 80% of the results. I believe one can put this idea into practice in different life contexts:

𝟏. 𝐂𝐚𝐫𝐞𝐞𝐫 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭

Concentrate on the tasks that significantly impact your professional development. Prioritise the 20% of your work duties that account for 80% of your outcomes. Spend time and money developing and mastering skills in high demand with the highest return on investment.

𝟐. 𝐓𝐢𝐦𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭

Utilise the Pareto Principle in your daily planning by determining which tasks are most important and align with your objectives. Focus on doing those tasks first because they will likely most impact your performance and productivity. Assign or remove the less important tasks to make time for the things that matter.

𝟑. 𝐑𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩𝐬

Concentrate on fostering the relationships that provide you with the most happiness, contentment, and support (20%). Spend time and effort preserving and enhancing these bonds, whether with friends, family, or business associates. Deeper and more meaningful connections can be cultivated by putting quality before quantity.