One of the most powerful concepts we know and teach is the Pareto Principle (aka The 80-20 Rule).
In1906, Italian economist and avid gardener Vilfredo Pareto established that 80% of the land in Italy was owned by 20% of the population. While gardening he later observed that 20% of the peapods in his garden yielded 80% of the peas that were harvested. And thus was born a theory that has stood the test of time and scrutiny.
Management thinker Joseph Juran adopted the idea and in 1937 introduced "The Pareto Principle," expanded the observations to the assumption that most of the results in any situation are determined by a small number of causes. In other words, 80% of consequences stem from 20% of the causes.
Here's something else that is really interesting.
The top 20% of the top 20% is responsible for 80% of the 80% of results. In other words, the top 4% is responsible for about 64% (two-thirds) of the outcomes. Taken a step further, about 1% of the cause creates about half the effect.
Going back to one of our previous examples, about 1% of Americans own half the wealth, while everyone else shares the second half of the pie.
You can apply the 80-20 rule to almost anything, but here are some of the most relevant for healthcare marketing.
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