Pareto's Priniciple: Improve your Caribbean Business!

*photo by Ailatan
Excerpt from About:
"The 80/20 Rule means that in anything a few (20 percent) are vital and many(80 percent) are trivial. In Pareto's case it meant 20 percent of the people owned 80 percent of the wealth. In Juran's initial work he identified 20 percent of the defects causing 80 percent of the problems. Project Managers know that 20 percent of the work (the first 10 percent and the last 10 percent) consume 80 percent of your time and resources. You can apply the 80/20 Rule to almost anything, from the science of management to the physical world.

You know 20 percent of your stock takes up 80 percent of your warehouse space and that 80 percent of your stock comes from 20 percent of your suppliers. Also 80 percent of your sales will come from 20 percent of your sales staff. 20 percent of your staff will cause 80 percent of your problems, but another 20 percent of your staff will provide 80 percent of your production. It works both ways. "

I realized the importance of this rule in my theory of working smarter. I think that we should try to find ways to make life more efficient. 80/20 rule for me help to explore ways to work smarter, therefore more efficiently. This rule also allow for maximization of minimum effort. In order to do this and grow my Caribbean blog. I do the following.

1. Listen and pay attention

I generally read a variety of different blogs and try to be in a constant state of aware learning. I try not to read or engage with work when things feel too busy. I want to be able to pay full attention to what I am doing. If I don't do this, information will pass me by and will not be utilized properly. When you pay attention, more is consciously absorbed.

2. Spend less time doing more

With all the technology and information at our finger tips,most of people are less efficient. I realize that if I try to use eight hours in a day to finish a project, it is more difficult for me. I realize that if I use half of that time and organize my efforts directly, the project is done in less time and just as well.