The Daily Founder Day 003: 80/20 FTW

The Pareto Principle states that oftentimes 80% of consequences come from 20% of causes. Other names for this principle are the 80/20 rule and the law of the vital few.

Joseph M. Juran developed the concept in the context of quality control and improvement after reading the works of Italian sociologist and economist Vilfredo Pareto.

For business one can apply the rule of thumb that 80% of sales come from 20% of clients, or 80% of outcomes come from 20% of activities.

• What are your 20%?
• What can you do today to make use of this principle?

Share your results of today’s challenge in the comments wherever you are and join the conversations in the Daily Founder Group on austrianstartups.com
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