What is Prioritization
Prioritizing is the process of determining what is most important, and deciding to invest our time and attention in it.
Why Is Prioritization Important
Vilfredo Pareto was a controversial Italian economist and sociologist who lived from 1848 to 1923. In one of his papers, he created a formula to demonstrate the uneven distribution of wealth in society - about 80% of the land in Italy belonged to approximately 20% of the country’s total population.
This idea, that a small number of things account for the majority of the results, became known later named as “Pareto’s Law” or the “80/20 principle”. These are not hard rules, the ratio won’t always be exactly 80/20, but chances are if you look at many key metrics in your life and business there is definitely a minority creating a majority.
This happens because we live in a complex system which is full of feedback loops and where a small difference can make a big impact. In that sense, prioritization and continuous improvement are the recipe to make progress.
How To Prioritize Effectively
The articles below present some useful ideas and exercises to prioritize effectively.
Defining Your Most Important Tasks: How to define daily and weekly MITs? If your MITs are the activities that will have the highest impact to make progress on your goals, then you should start with long and medium-term objectives and work your way backwards.
Warren Buffett’s 25/5 Exercise: How to Prioritize Effectively: A simple but powerful goal-setting and prioritizing exercise from Warren Buffet that reminds us that “if everything is a priority, then nothing is a priority.”
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All Prioritization Articles
This is a complete list of articles I have written on prioritization. Enjoy!