Pareto Principle is known to almost everyone but people fail to understand by it works. There is an inherent "chaos" or imbalance in the universe. Things are not equal so to say. Hence, when any entity with a slight advantage just because of sheer luck or "chaos theory" , this leads to disproportionate results in the end.
For e.g. A goldfish that is slightly bigger than the rest of the fish would initially start of same. But the slight advantage of size, would become larger and larger as time progresses. In the end, goldfishes that were bigger would end up having more food, which in turn would again increase their size and food bearing capacity. This cycle of feedback is at the heart of Pareto Principle.
So, according to Pareto principle, in a system "vital few" would contribute the "majority". This can be seen in all walks of life, like most of the wealth of the world is concentrated in a few hands. Most of your real pleasure in life would come from few friends etc. etc.
Action to be taken from this should be - What are my vital few things, friends, tasks, clients which will give me the most success ? Start analyzing your life and hope you find the answer. Identify the vital few and take care of them.
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