Pareto Principle

  • For effective time management, always look towards the "Pareto Principle"
    • The first 80% of X take 20% of Y, the second 20% of X take 80% of Y.
  • This applies to most areas in productivity:
    • 80% of your work can be done in 20% of the time and vice versa
    • 20% of your customers take 80% of your time and vice versa
    • 80% of the topics can be studied in 20% of the time and vice versa
    • 20% of the holdings in a portfolio are responsible for 80% of the portfolio's growth
  • Therefore, if perfection is not required or the 20% can be eliminated, this would enable you to achieve 4 times as much as normal.
  • A big advocate of this strategy is Tim Ferris, highlighting this concept in Book - The 4 Hour Work WeekBook - The 4 Hour Work Week

    Metadata:

    author: Timothy Ferriss
    title: The 4 Hour Work WEEK - Escape the 9-5, live anywhere and join the new rich.