The Pareto’s Law (also known as the 80/20 principle) is an economic theory espoused by a 19th century Italian economist, Vilfredo Pareto. The Pareto’s Law is a theory on the distribution of income. He states that 20% of the population earns 80% of the income. However, the Pareto’s law is not only limited to economics and business. You too, can apply it into your business and your life to achieve greater success. Here’s how.