The Pareto Principle is one of the most useful concepts for time management techniques. This concept is inspired by the 80/20 rule, which argues that if 20% of your activities account for 80% of your results, But the reverse of this story, that is, having 80% of the activity to achieve 20% of the result, is nothing but a waste of time.
If we don’t focus 20% of our efforts for 80% of the results, we will probably spend 80% of the efforts on 20% of the results!
Advantages of the Pareto principle
- Greater productivity
- Prioritization based on importance value
- Improve decision-making skills
- Increased self-confidence
- Dividing tasks into smaller parts
The application of the Pareto principle in life
We can use the Pareto principle in many situations, for example, we can say that 80% of the products produced by a factory are sold by 20% of the buyers, or only 20% of the employees of a company do the work and 80% of them are wasted.
By using this technique, students can use it to manage their time and do their homework. We will give more examples in the following.
Examples of Pareto principle time management
80% of a country’s income comes from 20% of customers.
80% of crimes are committed by 20% of the population.
80% of the world’s pollution belongs to 20% of factories.
20% of a company’s employees do 80% of the work.
Using the Pareto principle in time management
By using time management, you can master all your activities and tasks. In the topic of time management, the Pareto principle is very useful.
In some tasks, it is better to reduce the time to do it because if the time to do it is long, burnout will occur and procrastination will increase.
Whereas, if you use the Pareto principle when performing tasks, you will complete your tasks and activities in a shorter period of time and save your time. But the important thing that affects your success in life is prioritizing things based on their importance.
Trust ourselves, do things on our list and actually do the most important thing first.
Let’s try to write a list of things to do based on the 20-80 principle. Surely, from your list of 7 tasks for today, there is clearly one or two tasks that are more important and of course it will be much more effective to do them, so let’s choose those tasks with high priority.
The final result of our work using the Pareto principle (20/80) in the work environment has increased our sense of job satisfaction as well as more self-confidence in doing assigned tasks and certainly its use in goal setting, time management, emotional and social life is also effective and practical.