Pareto and the 80/20 Rule
Tim Ferriss, you reminded me of an important lesson, that I've long forgotten - the 80/20 Rule. Thanks to you and Vilfredo Pareto, I will apply this rule in moving forward.
According to copywriter and blogger Michel Fortin:
The 80/20 Rule is simple. It says 20% of inputs create 80% of outputs. Conversely, 80% of inputs create only 20% of outputs. For instance:Sound advice Michel. And I will heed it.
In a house that is carpeted, 20% of the carpet will get 80% of the wear. On a blog, 20% of the blog posts will get 80% of the “reads.” In a business, 20% of the customers will produce 80% of the revenue.
In anything you apply the 80/20 Rule to, you will find both great leverage and great waste.
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