Managing Your Business Efficiently With Pareto’s Principle
Business Development
457 week ago — 1 min read
Pareto’s Principle or the 80/20 rule is named after Vilfredo Pareto, an Italian economist, who first observed that the wealth distribution in his country was unequal, whereby 20 percent of the people owned 80 percent of the wealth.
The theory states that 80 percent of the results come from 20 percent of the total effort. It is beneficial for business owners as they strive for maximum results in less time and effort.
On this #EntrepreneurMonday, we explain how 80/20 rule can be beneficial for your business growth through the video below:
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