February 7, 2024

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BG’s Positively Speaking

The Pareto Principle

The Pareto Principle was formulated in 1895 by Italian economist Vilfredo Pareto. Pareto observed that people in society fell into two categories: the “Vital Few” and the “Trivial Many.” His observations referred to financial matters, but upon further investigation, he found that all economic activities generally adhered to this principle.

In his observations, the “vital few” referred to the fact that 20% of the population held 80% of the wealth and influence in society. The remaining 80%, “The Trivial Many,” had only 20%. This principle is more often known as the “80/20 Rule.”

Once we understand that 20% of our activity will bring in 80% of our wealth, and the remaining 80% will return us only 20%, we can focus (prioritize) on those things that bring us the highest returns.

In sales, 20% of your customers will account for 80% of your income. If you make a product or service, 20% of your activity will account for 80% of your profits. It makes sense then to find out what, or who, that 20% is and prioritize them. In a list of ten items, two will bring in 80% of your results; one may account for more than the other nine.

Using this information will increase your efficiency, help you discipline your activities, and focus on activity rather than results (the results will take care of themselves if you do the work). The net result is better time management, giving you more time to spend with family and friends or give back to society. You will enjoy a better quality of life and enable others to improve their lives. All this is from a principle that was discovered almost 130 years ago.

Put The 80/20 Rule To Work For You!

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Have You Heard?

Frustration: An Australian landlord posted in a Facebook group to vent his frustration with a tenant who deliberately underpays his rent by one cent each week.  The unidentified homeowner wrote to a Facebook group for landlords, asking for advice on how to handle a tenant who underpays the rent by 1 cent every week. The rent was set at AU$ 1,200 per week, but the tenant living in the house only pays AU$ 1,199.99. With 52 weeks in a year, it hardly seems like a massive loss for the landlord, but they claim to be losing their mind over the situation. They’re seeking advice to keep their sanity. Meanwhile, the tenant thinks they are within their rights with the 1-cent weekly deduction.

Overwhelming: Many young people experience some degree of anxiety when interacting with or even being close to members of the opposite sex, but in some people, this feeling is so overwhelming that they pass out. A case in point is Manish Shankar Prasad, a shy 17-year-old boy from Allama Iqbal College in Bihar Sharif, who was supposed to take his mathematics test in Sundergarh at the end of last month. He never got the opportunity to do so, as he lost consciousness after finding himself surrounded by around 500 girls in an exam hall.

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Editors Quote Book

“The world can provide for human need, But not human greed.”

—  Mahatma Gandhi

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The Job Application…

A man went to apply for a job. After filling out his applications, he waited anxiously for the outcome. The employer read all his applications and said, “We have an opening for people like you.” “Oh, great,” he said, “What is it?” “It’s called the door!”

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Trivia Quiz

(Click Question For Answer)

 

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Your Horoscope

For Amusement Only

ARIES (Mar 21- Apr 19):   An anticipated financial gain will be delayed for a short while. Living arrangements will see a welcome improvement.

TAURUS (Apr 20- May 20): It’s decision time! Consider what is best for your family and take that route. You’ll be glad you did.

GEMINI (May 21- Jun 20):  New options are available. Don’t get caught up in the excitement. Consider all the options carefully.

CANCER (June 21-July 22):   A seemingly ignorant comment should be overlooked. It may be the voice of a person with low esteem.

LEO (Jul 23- Aug 22): Review all the possibilities. The one that seems most far-fetched could have the best chance of success.

VIRGO (Aug 23- Sept 22): To some, your life seems perfect. It’s time to let them know it’s not all it seems from the outside.

LIBRA (Sept 23- Oct 22): You can more effectively influence others through your actions. Though you should use your words sparingly, they will have a more significant effect.

SCORPIO (Oct 23- Nov 21):  Don’t be intimidated by a member of the opposite sex. Hold your head high and stick to your guns.

SAGITTARIUS (Nov 22- Dec 21): Pay attention to the details when making travel arrangements. This will ensure a smooth journey.

CAPRICORN (Dec 22- Jan 19): A social event brings a new relationship. Don’t rush into it too fast. TAKE IT EASY.

AQUARIUS (Jan. 20-Feb. 18):   Putting more on your plate than you can handle can be disastrous. It’s better to go back for seconds.

PISCES (Feb 19- Mar 20): A business meeting brings Your career objectives into sharp focus. Play your cards with confidence.

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Looking Into Their Eyes

A policeman pulls a man over for speeding and asks him to get out of the car. After looking asks: Have you been drinking?” The man gets indignant and says, “Officer, I couldn’t help but notice your eyes are glazed. Have you been eating doughnuts?”

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A “Catchy” Business Name

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The Lumberyard

Have you heard about the guys who drove their pickup truck into a lumberyard? One of them walked into the office and said, “We need some four-by-twos.” “You mean two-by-fours, don’t you?” the clerk said. “Let me go check,” replied the man, and he went back to the truck. “Yeah, I meant two-by-fours,” he said, returning a few moments later. “Alright. How long do you need them?” The customer paused and said, “I’d better go check.” Returning to the office, he said, “A long time. We’re building a house.”

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Bear Remover

A man wakes up one morning to find a bear on his roof. So he looks in the Yellow Pages, and sure enough, there’s an ad for “Bear Removers.” He calls the number, and the bear remover says he’ll be over in 30 minutes. The bear remover arrives and gets out of his van. He’s got a ladder, a baseball bat, a shotgun and a mean old pit bull. “What are you going to do,” the homeowner asks? “I’m going to put this ladder up against the roof, then I’m going to go up there and knock the bear off the roof with this baseball bat. When the bear falls off, the pit bull is trained to grab him and not let go. The bear will then be subdued enough for me to put him in the cage in the back of the van.” He hands the shotgun to the homeowner. “What’s the shotgun for?” asks the homeowner. “If the bear knocks me off the roof, shoot the dog.”

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The Holdup

A man walks into a bank, pulls out a gun, and robs the bank. Then he turned around and asked the next customer, “Did you see me rob this bank?” The customer replies, “YES!”

The robber raises his gun and shoots him. He then moves to the next customer in line and asks the woman, “DID YOU SEE  ME ROB THIS BANK?”  The woman calmly responds, “No, but my husband did!”

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Quackers

Q: What did the duck say when he bought lipstick?
A: “Put it on my bill.”

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The Last Word

If you can react the same whether you win or lose,
you have accomplished something exceptional.

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