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Italian economist Vilfredo Pareto studied patterns of wealth and income in the late 19th century. The Pareto Principle shows that “a minority of causes, inputs, or effort usually lead[s] to a majority of the results, outputs, or rewards.”
Later known as The 80/20 Principle—based on the idea that 20 percent of inputs result in 80% of the results—can be applied (as it remarkably accurate) in all sorts of situations, from exercise to business to relationships.
If you knew that 20% of your customers were responsible for 80% of your company's revenue, where would you devote your customer support resources? If you knew that 20% of your weight lifting routines were responsible for 80% of your fitness, which routines would you make sure you didn't miss? What if you knew that 20% of the criminals committed 80% of the crime? How would you change the way the legal system worked? What if you knew that 80% of your customer service problems came from 20% of your customers? Which customers would you send to the competition?
We all have finite time, money, patience, and energy to accomplish our goals. Identifying those actions that are most productive and increasing them, while reducing those activities that are less productive, is the only sane way to manage our limited resources.
Peak performance, optimal health, and genuine happiness are grounded in the skillful art of energy management.
Directing our energy toward those things that are uplifting and that lead us closer to our goals is the best energy management system of all.
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Alison Moore Smith is a 61-year-old entrepreneur who graduated from BYU in 1987. She has been (very happily) married to Samuel M. Smith for 40 years. They are parents of six incredible children and grandparents to two astounding grandsons. She is the author of The 7 Success Habits of Homeschoolers.