Pareto Rule 80/20 (FD20082020-7)
Pareto Rule 80/20 This is an extremely interesting concept which was discover by Vilfredo Pareto in 1906 when he was measuring the unequal distribution of wealth in his country. He found out that 20% of the people own 80% of the wealth and thus the Pareto rule 80/20 theory is born. It was later that pareto rule was found similar in other circumstances where people would find this rule useful such as in “vital few, trivial many” and “less for more” theory. So how does this theory actually benefit a business or a person individual life? In business there are many staticstics that show that 80% of the business profit generated from 20% key staff. By identifying what is the 20% that can help to increase 80% of the profit had help many companies in the past to earn a lot. And the same thing can be apply in a person life . “What is the thing if you do now it will create a positive impact in your life a lot? “ . For a salesman , it may mean getting a new prospect while for oth