The Law of the Vital Few, initially referred to as Pareto’s Law is named after the economist that made the observation. It states that 80% of effects of results come from 20% of the causes. This percentage breakdown is why the 80/20 Principle is aptly referred to as the Law of the Vital Few.
Real life examples of this law in place include, 20% of the total players on a soccer team score 80% of the winning goals, 80% of product development comes from 20% of the workforce , or on a more personal level, 80% of progress with self-improvement in any area of your life comes from 20% of your efforts.
Therefore, in order to maximize efficiency, it’s important to invest your resources in the top 20% causes that bring results. This requires knowing what you want or what is needed. Hence, analysis and introspection is necessary.
The Law of the Vital Few is not absolute; but the bottom line is this- a small portion of the causes gives the majority of the effects.