Saturday, December 5, 2009

I will befriend Mr Pareto from today.

The Pareto Principle is nothing new to me but I had never seriously apply it in my life. I get to realise that I had spent far too much time doing things that are not beneficial to my life and career. I was trapped with all the daily mundane work and had stopped to see who are the more important people and clients around me.

Its not easy to get out of this trap that easily but Parato will be in my mind when I do it.

I had just google about Mr Pareto and found the below description:

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...better known as the 80-20 rule, is based on the fact that 80% of what we achieve well is from 20% of what we do. This principle is more commonly applied to business efficiency but can be applied just as easily to any aspect of our day to day lives.

Successful people achieve more by concentrating on the 20% that matters. This means that we can eradicate up to 80% of activity during our daily routine that does not contribute towards our success by starting to do less. If you look at most successful people in the workplace, they are not the ones running around chasing their tail, staying all hours and making sure everyone else around them knows exactly how much they have to do. These people are successful because they concentrate on what matters. People who are always 'busy' are not necessarily effective. We often create a lot of work for ourselves because we don't stop to focus on what’s important.

The same is true about the rest of your life. Consider the things you do each day and think carefully about whether they need to be done or are adding any value to your life. If things are adding no value whatsoever, think about why you still do them? Maybe it's just a habit or maybe it seems important on the surface but is not really benefiting you or anyone else when you take a closer look? The best question to ask yourself is 'what is the positive or negative impact on myself or others if I stop doing this task / activity?' If the answer is 'none' then it is adding no value whatsoever.

Don't get me wrong - sometimes we all enjoy doing tasks or activites that don't seem to produce any real significant benefits but there is a benefit nonetheless and that is the fact that we are enjoying doing it! Spending time doing things we enjoy, no matter how trivial they may seem is always a benefit!

Don't underestimate the power that the awareness of the 80-20 rule can have on your life. Anyone who cuts out everything that has no benefit is one hellava disciplined person but if freeing up just some of your time each day from the mundane and insignificant means you can spend more of your time on the things that will benefit you and those around you then it is well worth considering!

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Anonymous said...

you put too much in the 80%. Just like those clients who gave you problem they are in the 80%. Forget them if possible. Serve them if you must but not get stressssssed by them.

Peter said...

Yeah Adrian,

Following Pareto is one of the best things to do in life if we want to live a successful life and achieve many things at one go.

I do have problem following but i always remind myself that if i dun do so, it will take me a longer route to be successful in life.

Jia you!


Lion Investor said...

Hi Adrian,

I think it is about time you did this.

You won't be in an ideal position to help others unless you help yourself first.

Anonymous said...

It is not so simple, Adrian. Before you practice Pareto you must first ensure you are in the right profession. A little knowledge is a dangerous thing. Take the example of a brain surgeon who is not suitable for the job. The Pareto principle will ensure that he gets 80% of lawsuits from the group of 20% patients whom he thinks he will get the profits from. This is the last time I will urge you to change to a profession which is more suitable for you.