“Apply the Pareto Principle to niche selection by focusing on the 20% of your niche that generates 80% of the results, which makes your communication more focused and targeted”
About 80/20 principle
The Pareto principle (also known as the 80:20 rule, the law of the vital few and the principle of factor sparsity) states that, for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few"). In 1941, management consultant Joseph M. Juran developed the concept in the context of quality control and improvement after reading the works of Italian sociologist and economist Vilfredo Pareto, who wrote in 1906 about the 80:20 connection while teaching at the University of Lausanne.
Relevant Clips5
- Teaching
Mental Models as Simulation Machines for Pre-Testing Real Decisions
Mental models are simulation machines for your mind that help you avoid trial and error by running scenarios before acting in the real world
- Teaching▶ 3:47
80% of Windfall Recipients End Up Worse Off
Up to 80% of lottery winners and inheritance recipients end up worse off financially five years later than before receiving their windfall
- Teaching
Apply 80/20 to Activities That Move Your Goals
Focus on your own progress using the 80/20 principle - concentrate only on activities that make the biggest impact toward your goals
- Teaching
Applying 80/20 Pareto to Identify Highest-Impact Activities
The 80/20 Pareto Principle should be applied to identify and focus on the 20% of activities that generate 80% of your results
- Teaching▶ 0:45
Height Gap Dating Tactics for Shorter Men
Apply the Pareto Principle to niche selection by focusing on the 20% of your niche that generates 80% of the results, which makes your communication more focused and targeted