In business the 80/20 principle is behind any innovation, any extra value. It is an entrepreneurial principle, a formula for value creation utilized not only by entrepreneurs, but by most managers and organizations.

Remember the 80/20 Rule and know what the key 20 percent is. The 80/20 Rule states that you get 80 percent of the value out of something from 20 percent of the information or effort. (It’s also true that you’re likely to exert 80 percent of your effort getting the final 20 percent of value.) Understanding this rule saves you from getting bogged down in unnecessary detail once you’ve gotten most of the learning you need to make a good decision.

How to 80/20 your work:

(1) Make a list of the 10 things you spend the most time on.
(2) Circle the two that truly drive your results. Do more of those.
(3) Look at the others. Eliminate ruthlessly. Automate or outsource what you can. Press pause on the rest.
(4) Repeat.

Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. In most societies, 20 percent of criminals commit 80 percent of crimes. Twenty percent of motorists cause 80 percent of all accidents. Twenty percent of beer drinkers drink 80 percent of all beer. When it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority of the work.

What gets measured gets managed. — PETER DRUCKER, management theorist, author

A true Essentialist, Peter Drucker believed that “people are effective because they say no.

Tell me what you value and I might believe you,” management guru Peter Drucker once said, “but show me your calendar and your bank statement, and I’ll show you what you really value.

In a famous articulation often attributed to Peter Drucker, the Austrian-born management guru, "What gets measured gets managed.

I think that when you have an 80 percent issue, you probably need to be on the side of that one with your constituents back home.

Peter Drucker, in my view the father of modern management thinking, was also a master of the art of the graceful no. When Mihaly Csikszentmihalyi, the Hungarian professor most well known for his work on “flow,” reached out to interview a series of creative individuals for a book he was writing on creativity, Drucker’s response was interesting enough to Mihaly that he quoted it verbatim: “I am greatly honored and flattered by your kind letter of February 14th – for I have admired you and your work for many years, and I have learned much from it. But, my dear Professor Csikszentmihalyi, I am afraid I have to disappoint you. I could not possibly answer your questions. I am told I am creative – I don’t know what that means…. I just keep on plodding…. I hope you will not think me presumptuous or rude if I say that one of the secrets of productivity (in which I believe whereas I do not believe in creativity) is to have a VERY BIG waste paper basket to take care of ALL invitations such as yours – productivity in my experience consists of NOT doing anything that helps the work of other people but to spend all one’s time on the work the Good Lord has fitted one to do, and to do well.”8 A true Essentialist, Peter Drucker believed that “people are effective because they say no.

They see the pattern, understand the order, experience the vision. Peter Drucker

Tell me what you value and I might believe you,” management guru Peter Drucker once said, “but show me your calendar and your bank statement, and I’ll show you what you really value.” So

As Peter Drucker said, “In a few hundred years, when the history of our time will be written from a long-term perspective, it is likely that the most important event historians will see is not technology, not the Internet, not e-commerce. It is an unprecedented change in the human condition.

Common sense suggests that some factors in a [risk management] process are more important than others — and analysis supports this. In reality, only 20 percent of activities. In reality, only 20 percent of activities may account for up to 80 percent of results. This is known as Pareto's law, the “80/20 rule”...Pareto's law concentrates on the significant 20 percent and gives the less important 80 percent lower priority.