Work hacks are simple yet original methods that can be used quickly and directly to improve teamwork and work results. In our series, we present tried-and-true work hacks that sustainably change teamwork.
Work hack #3: The 80/20 Method
The 80/20 method, also called Pareto principle, goes back to the inventor Vilfredo Pareto. At the beginning of the 20th century, he examined the distribution of land ownership in Italy and discovered that 20 percent of Italian citizens owned 80 percent of the state’s wealth.
The Pareto principle says: 80% of the results can be achieved with 20% of the total effort.
So: use the 20%!
The 80/20 method is a time-management method that you can use to prioritize your work. This helps to improve the time–performance ratio.
In regard to work, this means that if priorities are properly allocated, 20 percent of the effort can often do 80 percent of the work. Or more concretely: the 80/20 method clearly prioritizes the important tasks of a project that definitely have to be done. As a result, you quickly recognize which tasks and details you shouldn’t give much time, or which you can omit.
Extra tip: What are the most important tasks? A priority list helps to identify which activities need to be done first.