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Pareto

The Pareto Principle

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The Pareto Principle

Once upon a time (though really not that long ago), MatchPace almost became “The Pareto Group.” We were so inspired by the Pareto Principle that we nearly named our company after it!

I was brainstorming names for the company with my husband, and he said “it’s like the Pareto Principle!”

If you are like me, and not my economically-minded husband, you might be asking “But what is the Pareto Principle?” I was not familiar with Vilfredo Pareto, the Italian economist Joseph Juran named the Pareto Principle after. But you may have heard of the “80/20 rule.” Back in the late 1800s, Pareto observed that 80 percent of Italy’s land was owned by just 20 percent of the population; he then took the principle a step further, noting that about 20 percent of the peapods in his garden produced 80 percent of the peas.

Read on to learn how you can apply the Pareto Principle so your entire team is efficient and effective.

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