Vilfredo Pareto was an Italian economist and philosopher who formulated the 80-20 rule. His observations were based on the fact that 80% of the land in Italy was owned by 20% of the population. His research work became the thumb rule of many business organizations, where 80% of productivity came from 20% of the working employees. This 20% comprised the most efficient people who conducted their work within a specific span of time, thereby contributing to the high rate of productivity. Based on this theory, business and quality management pioneer Dr. Joseph Juran said that, "vital few, trivial many".
The 80-20 rule could be applied everywhere where time plays a major role to uplift productivity and the success of organizations. The key element of this theory is the 20% that matters the most. If you consider all the things that you are doing the entire day, you will actually find out that it's the 20% of your work that produces the net result. Thus, you should try different ways that will allow you to effectively manage the minor portion. Within the limited time (20%), you have to categorize your work and activities for achieving the goals in your life.