Have you ever noticed that a small portion of your efforts tends to yield the majority of your results? This phenomenon is known as the 80/20 rule, or the Pareto Principle. Named after the Italian economist Vilfredo Pareto, who observed that 80% of the land in Italy was owned by 20% of the population, the Pareto Principle has since been applied to various aspects of life and business. Understanding the 80/20 Rule The 80/20 rule states that 80% of the effects come from 20% of the causes. In other words, a small percentage of inputs results in a large percentage of outputs. This principle can be applied to many different…