The Pareto Principle is foundational to success.
Today marks the beginning of my series on the science and psychology of success. In it, we’ll discuss ways to become a victor, not a victim, and many other things to help you become the greatest you can be.
In my opinion, Vilfredo Pareto is one of the two most brilliant people who have ever lived (the other being Isaac Newton). Pareto came up with a foundational principle, the Pareto Principle, that you need to think about when it comes to getting into the flow of success.
The Pareto Principle, also known as the 80/20 rule, states that 20% of the causes bring 80% of the results. That means if you can identify and focus on the 20%, the activities that bring about the majority of your results, you’ll be better able to succeed.
Vilfredo Pareto himself is best known for his contributions to economics, but he was also a biologist, botanist, engineer, sociologist, and philosopher. He spent time in his garden as a way of destressing, but he eventually became frustrated. 20% of his crops were producing 80% of his total yield. It was in that garden that he related that principle back to economics, giving us the Pareto Principle.
To be successful, you want to be a part of the 20%, and if you’re a manager, you need to hire people who are also in that group. In this way, who you hang around with is important; it might be comfortable to hang out with people who are part of the 80% who produce 20% of the results, but don’t let them drag you into their ranks. Try to associate with people in the 20% as much as possible, since they’re more disciplined in their thoughts and actions.
This is merely a foundational principle when it comes to success. As this series continues, we’ll delve more deeply into the science and psychology behind it, including what actions are necessary to be a part of that 20% club.
If you have any questions in the meantime, don’t hesitate to reach out to me. I’d love to speak with you.
