Time management with Pareto principle

In this article, we explained the Pareto principle. Time is one of the most important resources that people have. Those who use this resource well are both successful and happy. There are many problems in time management in business and private life. To give a few examples; things do not grow on time, some programs and presentations are not adequately prepared, educational development programs are postponed or never realized, meetings are extended, appointments are late, family is not allocated enough time, children’s school shows parents can not find time, we can extend the list. Everyone has had problems like this, and the sad thing is that they tend to continue.Pareto principle

So, what can be done?

Time management is very important in organizations, inefficiencies or delays anywhere, such as the rings of a chain, affect everyone. Many people are trained in this subject, and many books have been published. The application is very easy and you can get results in a short time with Pareto will share managing time.

The Pareto Rule was developed by the Italian economist Vilfredo Pareto. The Pareto Rule, also known as the 80/20 rule, is based on the theory that% 80% of the results in our lives occur in 20% of our time, and the remaining 20% ​​in 80% of our time ”. Richard Koch, who adapted the Pareto rule to the business world, is the author of the “80/20 Principle” and “80/20 Individual” books. The rule is supported by many examples. Some examples:

Pareto principle

  • People achieve 80% of their success in 20% of their time.
  • 20% of the products constitute 80% of the turnover.
  • and 20% of customers account for 80% of sales.
  • 20% of the raw materials constitute 80% of the total cost.
  • 80% of national income is obtained by 20% of society.
  • We live 80% of our happiness in 20% of our relationships.
  • 20% of sales provide 80% of the profit.

The 80s and 20s above should be perceived as large portions and small portions. When the above examples are actually investigated, results such as 70-30, 75-25, 85-15, 90-10 may be obtained.

Pareto chart

Now let’s move on to how the Pareto rule can be used in time management.

“The Pareto Rule gives us the message: Focus on 20% and give priority”. Because 80% of the result is here.

Let us explain the application of the rule with some examples. If the increase in sales due to your business is a performance indicator, devote a significant portion of your time to customer visits. it is very important to deliver reports to your manager in the workplace on time, preparing reports should always be your first job. you are having problems with employees belonging to the organization, take more time to be with them and listen to them. If you feel good when you are traveling, your first priority should be to see new places. Spend more time with your spouse and children if you think that the peace in your family has started to diminish with reduced family communication. Question your work if you are working late, unable to spend quality time with your family, and this is not temporary.

What is more, about Pareto principle

The rule can be used in many areas and can reduce the risk of overlooking the important. Ask yourself the following question, think and answer:

’What are the jobs that make up 80% of my expected results in 20% of my time? You may be surprised at the determinations you will make for both your business life and your private life, if you change your priorities accordingly, make sure that you will enter a very different period.

Pareto principle , A manager who tried the above application was astonished: When I thought about what was expected of me, I discovered that some of my work was not expected from me and that some of the time I spent a lot of time did not contribute to my success. When I made my list of 20%, it was very important, but I had lost my work, never came, and I saw very little time. I’m very comfortable now, and my family is very happy because I’m more with my family. ”

I talked to an old uncle about his past, his life. I asked if you had anything you couldn’t do. Mı No way, ”he said, without thinking. Ancak I realized that many things I cared about in my youth were insignificant, but years later, ”he said, pointing his body from top to bottom with his hand,“ but the job passed, ”he said smiling.

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