Thanks to all the poll workers during the election in North Carolina last night and the days of planning that went into it. You all really are in the <1% of doers out there.
Lets cruise back to 1906 for just a minute.
At the University of Lausanne in Switzerland, an Italian sociologist/economist Vilfredo Pareto found about 80% of land in Italy was owned by 20% of the population. From this came the 80/20 rule. It’s been applied to almost everything with forms of success.
In business, it’s regularly found that about 80% of sales come from 20% of the clients. In my real estate business, our sales came from about 24% of clients. Which helps us understand where to put our marketing efforts. 80% of results come from 20% of effort. 20% of your wardrobe consists of clothes you wear 80% of the time.
And an explanation for that annoying couple of people that don’t perform on your team? It’s just Pareto at work. 80% of the work will come from 20% of the team.
How about investing? 62% of US adults owns stocks. Putting Pareto at 62/38. 65% own homes in the US…a 65/35 Pareto.