To be brief, the Pareto principle basically states that about 80% of the effects from from about 20% of the causes. What this means in terms of money is that making money isn’t about grinding. It isn’t about hustling.It isn’t about working a 12-hour day each day.It isn’t about monitoring your email like a hawk so one never slips through the cracks. It isn’t about making sure your LinkedIn profile stays perfectly up-to-date. Rather, the Pareto principle teaches us to focus on what actually matters.
Think about it like this.
You wake up at 4 AM and work diligently all day long. You’re on top of emails, you network, you get every single task checked off of your list. It’s now 6 PM. You feel accomplished.
Meanwhile, your competitor woke up at 7 AM and stopped working at 10 AM to collect his Ferrari 458 from the dealership. Why does he have a Ferrari and you’re still driving your mom’s Saturn? It’s because he harnesses the power of the Pareto principle.