Research. Apply. Document. #19 The Pareto Principle

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The Pareto Principle

Discipline: Business

The Pareto Principle is 20% of input creates 80% of the result.

I like this principle because it can be applied to so many things. Understanding the principle can help with time management and leading effective employees, and rewarding them for their work. I think the company I work for does a good job of using this principle. Our biggest accounts are Great Clips, Timberwolves, and Ecolab, and I said a good 15%-20% of our staff is dedicated to just those accounts and fulfilling their needs.

Another example is the apps on my phone. I have a lot of apps on my phone and a small number of them are used majority of the time.

I like the idea of using this principle as a guideline when branching out to become a designer and freelancing. Perhaps focusing on a strength I have in an are of design, or specific clients that bring in the most money. I could also apply this for personal growth as well as career growth.

https://betterexplained.com/articles/understanding-the-pareto-principle-the-8020-rule/

https://www.forbes.com/sites/kevinkruse/2016/03/07/80-20-rule/#1d5b99123814

http://www.sixsigmatrainingfree.com/pareto-principle.html

 

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Author: MattBlair

I am a designer with a focus on user experience.

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