Ever wonder what exactly the 80/20 rule is or where it originated? Let me explain.
The 80/20 Rule is also known as the Pareto Principle after its originator, economist Vilfredo Pareto. In 1906 he noted that 80% of the land and wealth of Italy was owned by 20% of the population.
In the late 1940s quality management pioneer Dr. Joseph M. Juran further amplified the theory behind the principle.
Simply put, the 80/20 rules states that 20% of input is responsible for 80% of the output or results obtained.
Let's look at how you can use that knowledge effectively in your life. To achieve the results you want you need to realize that 20% of the things you do produce 80% of the results. Focus on the 20% that matters; do not let your time slip away with the other 80%.
In network marketing it is very easy to see the 80/20 rule in action. When analyzing the results of an organization, it is easy to see that 80% of the income is generated by the 20% of the people taking action. That's why it is always recommended to spend most of your time working with the 20% who are doing something rather than the 80% who are not and will not.
Industry wide in network marketing, 20% of the people make 80% of the money. (Mind you, most people only want to make a part time income rather than a full time income so this number is not so surprising.)
To be effective with social media and social networking, following the 80/20 rule is recommended. Because the first word is “social” the emphasis must be on socializing rather than promoting. Think 80/20—80 social/20 promotional.
Simple rule; here's how to apply it. Take the time to look at your life, to analyze it. Figure out which 20% of your actions bring you 80% of the results you want then focus on that 20%. If you do, the 80/20 rule will change your life.
Will you do it?