How to apply the 80-20 rule?

According to Wikipedia, the Pareto Principle, also known as the 80-20 rule, states that 80% of the effects of a situation come from 20% of its causes. In other words, an individual who carries out certain activities, (20%) accounts for a majority of the individual’s happiness and output (80%).

To achieve progress and increase one’s output, an individual must strengthen 20% of his or her resources to the greatest extent to achieve something and the remaining 80% up to a reasonable level. Have you ever applied this rule, professionally or personally? How successful were you in applying this rule?

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