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Pareto’s 80-20 Rule

Posted by Money.Power.Wisdom in September 21st 2008

The principle named after Vilfredo Pareto spotlights the “law of the valuable few”.

Or stated differently, 20% of the things you try will bring 80% of your success.

There are 2 approaches to applying this principle.

#1 - Try 100 different things, so that you’ll hit upon the 20 that work.

#2 - Try and come up with only the 20 that will work.

But with approach #2, since Pareto principle will be at play even here, only 20% of your ‘best guesses’ will be right!

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