“There is a predictable imbalance between input and output. There is an imperfect correlation between our efforts and results.”-Malay Damania
Pareto principle is one of the most helpful concepts for business this rule simply suggest that 20% of your activities will account for 80% of your results
This 20-80 rule was observed by the famous Italian economist in the late 19th century. He observed that the distribution of income and wealth was imbalanced in a systematic and predictable manner, and he found a similar pattern in almost every aspect of life. For example, 20% of customers generate 80% of revenue, 20% of effort produces 80% of results, and so on.
The Pareto principle is among the best time management strategies and is discussed by Malay Damania on Business Veda today.
Here are some of the key points he is sharing today
Origin of Pareto Principal
How this concept explains a lot about a certain business practice
Understanding the concept to gain maximum benefits
How we can expand and grow our business
Tune in to know more and follow Business Veda Podcast!