The Pareto Principle - 80/20 Rule Defined with Examples and How to Use it for Your Benefit

The Pareto Principle, also known as the 80/20 rule, states that in most situations 20% of the inputs in any system will result in 80% of the output. You can see this in a wide range of situations in life.

Have you ever noticed that it seems that at work you have a few people who tend to do most of the important work, and then a whole bunch of other people who seem to almost skate by?

How about in today’s economy, where it seems like a small % of the population simply has too much money, and everyone else is in the middle class, usually struggling to keep up with bills.

If you look at your finances for your business, it is likely that a small number of your customers account for a large part of your income.
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