80/20 Rule Explained: How to Do Less and Achieve More (Pareto Principle) 

What do you think about Warren Buffet's 3 step prioritization strategy?

Excellent advice and I'm going to use that 25 Goals pared down to 5 to focus on. I think one of the benefits of this will be to get those ideas for goals out of my head and onto paper so they're not distracting me. Once I've pared them down to 5, I think I'll be able to let the other 20 go and sort of dispose of them for now. Focusing on just 5 will likely help me to see that the other 20 were things I was not really that interested in. I like that distinction you made re: urgent things requested of us are likely from other people needing us to do something for them - which coincidentally is them focusing on their 20%! Subtle distinction and a great point of view to see a task request! Thanks for sharing.

I love that you are flexing Poor Charlies Almanac in the background. Great book!

Warren Buffet's three-step prioritization strategy for career success: Write down 25 career goals or personal growth/financial goals for a specific timeline. Identify the top five goals from the list. Avoid everything else on the list until the top five goals have been achieved. The 80/20 rule (Pareto principle) is a rule of uneven distribution where 80% of the desired results come from only 20% of your efforts. Working hard is not enough, it is about working smart and focusing on the right 20% to achieve 80% of the results. Applying the 80/20 rule to time management and productivity: Identify the 20% of tasks that only you can do and focus on them. Prioritize tasks that will lead to success and avoid easy and urgent tasks. CEOs and entrepreneurs carve out their 20% of time early in the day to achieve maximum impact. Applying the 80/20 rule to sharpen thinking: Identify the 20% of levers that impact 80% of the outcome in complex problems. Apply first principles thinking to break down the problem and focus on the essence of the problem. Focus on combining cheap materials in a smart way to reduce the price of lithium batteries as an example. Using the 80/20 rule improves productivity and thinking, and helps in achieving career success or personal growth/financial goals.

Thanks!

Love "the practical trick" how do you know what to focus on. It really hits bull's eye. Btw any video that describe how to breakdown complex problems?

Great stuff

This was great! Is the next video you referenced the presentation one (which I haven't watched just yet) or something else?

watching your videos and learning this way make me feel like I’m chewing through a book comprised of videos 🐒

Have a great weekend my friend.

People Teaching the 1% success needs pay . Millionaire are smart enough to hold that back.

So how do we break down the complexities in order to apply the 80/20 rule?

Really helpful video, thank you for making this. Did you ever make part 2?

So Buffett doesn't approve of me holding tightly onto the other 20 goals 🤣