There is a lot of wisdom in the Pareto Principle. Use it wisely.

Have you ever done something that would normally take days to complete within a few seconds, after procrastinating and pushing the tasks for a long time?

Most of the things we do in life are like this. It is very common to see less, but more focused and well-directed efforts lead to great successes. Whereas, more efforts with hours of contemplation and ineffective sweating end up unsuccessful.

The Pareto Principle, also the 80/20 rule, says that 80 percent of results come from 20 percent of the effort. This is widely implied in wider areas of life. Business and Economics are the most important areas that the 80/20 rule is commonly observed.

It is a widely accepted axiom in business that 80 percent of sales and profit comes from 20 percent of customers. Many businesses use it to work to meet the needs of their most valuable customers.

In economics, it has been observed that 80 percent of the world’s wealth comes from 20 percent of its population. And this applies not just to the amount of wealth they accumulated but also to the taxes they paid.

The Pareto Principle is also seen in the software industry. Microsoft has reported that fixing 20 percent of the most important errors fixed 80 percent of the bugs in its software. It also…