Fundamentals: The Pareto Principle

BLUF: For any given process, first identify the small subset of inputs that yield the largest / best outputs, and ruthlessly focus on those things rather than obsessing over the countless details that don’t have a high ROI. For example, if you have 10 products, but 2 of them yield 80% of your profits, focus on those 2 products. This will significantly reduce business complexity and overhead, freeing up time and capital that can be used to scale the 2 highest ROI products.

NOTE: The “Pareto Principle” is a fancy way of saying that for any given effort, a majority (~80%) of the output will come as a result of a minority (~20%) of the input.