Key Ideas

1. The 80/20 principle states that 80% of the results come from 20% of the causes. This principle can be applied to various aspects of life and business.

2. The principle is named after the Italian economist Vilfredo Pareto who observed that 80% of the wealth was owned by 20% of the population.

3. The 80/20 principle can be used to identify the most valuable and impactful tasks and focus our efforts on them.

4. By applying the 80/20 principle, we can achieve more with less effort and resources.

5. The key to success with the 80/20 principle is to identify the vital few and eliminate or red....
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Quiz