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In 1906 there was an Italian economist named Vilfredo Pareto. One day, strolling through his garden, Pareto noticed that every year, 20% of the pea plants in his garden produced approximately 80% of the peas. This got him thinking about economic output on a larger scale. Sure enough, he began to find that in various industries, societies and even companies, 80% of the production often came from the 20% most productive portion. This became known as the Pareto Principle, or what is now often referred to as the 80/20 Principle. Source: Mark Manson The 80/20 Principle states that 80% of the output or results will come from 20% of the […]
