Chapter 16 from the CHANGE JOURNAL »
Prize question: What does the distribution of land in Bella Italia in the last century have to do with optimising your time management? Answer: Quite a lot.
The Italian Vilfredo Pareto was a highly controversial economist and sociologist, and his views on power, the state and society were repeatedly criticised for being anti-democratic and even fascist. However, one of his insights is completely free of political implications, so it can appear here without any problems. It is also so catchy that it simply has to appear here.
Pareto principle: 80-20 rule for more productivity
When he analysed the distribution of land ownership in Italy at the beginning of the 20th century, he discovered that 20% of Italian citizens owned 80% of the country's wealth. This clicked, and Pareto put forward a series of 80/20 hypotheses, many of which were to be confirmed. For example, he concluded that Italian banks spend one fifth of their time looking after 80% of their customers. In warehouses, 20% of the products usually take up 80% of the space.
When he had collected enough examples, he derived the Pareto principle from this: 80% of the results are achieved with 20% of the total effort, the remaining 20% consume the lion's share with 80% of the effort.
This principle is confirmed time and again in a wide variety of areas:
Often 20% of the products, services or customers generate
80% of a company's turnover.
80% of the traffic runs on 20% of the roads.
80% of your calls are made to 20% of your contacts.
20% of websites use 80% of the data volume.
80% of the time you wear 20% of the clothes in your wardrobe.
Amazing, isn't it?
It gets exciting when you apply the 80/20 rule to your personal time management: Observe yourself in your private life, at university or at work. See what you need little time for and get a lot done; and what takes you ages and you hardly see any results.
Calendar templates are perfect for this. You can quickly recognise your behaviour and use it to derive the best levers in terms of effort and results, set priorities and identify personal strengths.
And you can find the toads, the tasks that take up time and energy without bringing much benefit. Sometimes you have to swallow a toad, of course. But perhaps one or two can pass you by.
Your realisation, your decision - and the time you have gained!
Templates Pareto Principle Change Journal: Just sign up for the newsletter to get access to the template »
