February 4, 2012
Becoming One of the Vital Few
One of the most useful concepts of all time is called the "Pareto Principle." It is named after its founder, the Italian economist Vilfredo Pareto, who wrote about it in 1895. He had discovered that human beings could be divided into the top 20 percent in terms of accomplishment, peace of mind, and influence, which he called the "vital few," and the bottom 80 percent, which he called the "trivial many."
This Pareto Principle (also called the 80/20 Rule) states that 20 percent of our efforts will provide 80 percent of our results. And, for people in business, 20 percent of their customers will account for 80 percent of their sales; 20 percent of their products or services will account for 80 percent of their profits, and 20 percent of their employees are absolute keepers.
People who have never heard of this rule, and those who have but couldn't care less, complain about hard work with nothing to show for it. A simple time and motion audit would prove why they are missing the mark. Most of their time is spent with tasks they like, while ignoring items with much higher returns on investment.
At every crossroad we have freedom of choice. That freedom includes the freedom to fail. This is the reason self-discipline is so important. Doing what needs to be done, whether we like it or not, is far more important than doing only what we want.
Here is a simple test to consider when selecting specific tasks. Before saying "yes" to any task, ask yourself this question: Will this task move me closer to my goals faster than something else I could be doing?
What makes the vital few so much more productive than the trivial many? It is not their parents, their education, their talents, or even their past experiences. What sets the vital few apart from everyone else is their willingness to think ahead about what they are about to do and their willingness to tackle the most effective tasks first.
Achievement results from the willingness to keep our attention clearly focused on the 20 percent that produces the 80 percent. This is how we become one of the vital few. Isn't that where you want to be?
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