Pareto's Law

 

 

In many big brands, greatest percentage of the profits comes from a small portion of their products. A tiny number of bugs are responsible for a large percentage of crashes. Like an iceberg, a great percentage of our life situation depends on our physical, visible actions, and a little percentage is dependent on what we think, believe, or feel about our life. In a restaurant, for instance, most of the orders come from the top few specialities in their menu while the rest of the products are ordered only by a handful of customers. Named after the economist, Vilfredo Pareto, Pareto’s Law states that roughly 80% of the consequences result from 20% of the causes. It is also called as the 80/20 rule or the "law of the vital few and the trivial many.” The law is famously used by businessmen, leaders, economists, shopkeepers, and is of immense help to anyone who desires to sort out their life.

 

Wilson's Law

 

I don’t want to complete that book of math, but I want to score 100 in the test. I want to start my own business but I don’t want to read about marketing or do deep analysis of my products. I want to sell my crafts, but I don’t want to learn how to advertise them to people. Well, if you are someone who loves to make money, which you probably do, and still find yourself saying these lines, you might be missing a crucial piece of information you need. The Wilson’s Law, also known as the “Law of wealth accumulation.”

 

Wilson’s law challenges the notion that money is the sole purpose of your actions. The law insists that it’s not about chasing money, but investing in yourself and your capacity to become a medium to create value for yourself and others. The two pillars of this law are knowledge and intelligence. Nobel Prize-winning economist Robert Wilson, who specializes in game theory emphasized the importance of constantly adapting to change, continuous learning, and expanding intellectual boundaries to become capable of innovation. Lastly, remember that knowledge doesn’t just imply information. It also means radical and constant change. “If you put information and intelligence into a system, but don’t change the structure, the behaviour stays the same.” 

Kidlin's Law

 

Have you ever found yourself visiting a new place where there is so much crowd that you can’t figure out the right direction to proceed, which causes you to feel lost in the city? We all have come across math and physics problems in school where we became puzzled with variables and equations that we kept on circling in loops, never really arriving at the solution. Honestly, everyone goes through this feeling from time to time. With so much going through their mind, they feel clueless and paralyzed about what to do next. Here comes the Kidlin’s Law, derived from the fictional character of Kidlin from a 1962 novel King Rat. The law states that by writing down a problem clearly and specifically, it is already half solved. The problem-solving theory emphasizes that breaking down the problem into small manageable components, clearly defining it, structuring, and putting it down on paper cuts through the noise and guides you towards the solution.

 

The theory is also based on taking radical self-responsibility. The first step is acknowledging the problem, observing it with self-awareness, sometimes bringing external intervention, and ultimately, writing it down on paper. So, the next time you find yourself jostling in an ocean of ideas, so overwhelming that you can no longer decide how to take the first step, remember the Kidlin’s law and instead of obsessing over your new fancy notebook, just pull it out and write down your ideas.