Pareto principle: Efficiency rule for resource allocation

The Pareto Principle, also known as the 80/20 rule, states that 80% of results often come from 20% of effort, which is applicable to a variety of scenarios, including business processes and customer relationships. This principle helps startups focus their resources and efforts on the activities that have the greatest impact on their goals and minimise inefficient processes. By applying the Pareto Principle, organisations can increase productivity, improve customer satisfaction and achieve an optimal return on their investment.