Things which matter most must never be at the mercy of things that matter least. - Goethe

The Pareto principle (also known as the 80/20 rule) states that, for many events, roughly 80% of the effects come from 20% of the causes.

This principle was named after Italian economist Vilfredo Pareto, who observed that 80% of the land in Italy was owned by 20% of the population. But enough people have observed this principle at work in other areas that it's worth considering its application to our lives in general.

I've seen this in my garden, for example: 20% of my tomato plants are producing 80% of my fruit. It used to confuse me how one plant would be heavy with fruit while the others produced so little, but the Pareto Principle helps me understand it.

In his book The 4-Hour Work Week, Tim Ferriss explains how his business took off when he started applying the Pareto Principle. He looked over his balance sheets and saw that 80% of his sales came from 20% of his products. He also noticed that just a small percentage of problem clients were taking up the majority of his time.

Drawing on these insights, he refocused his energy on his most successful products. And—in one of the most memorable stories from the book—he "fired" his three most problematic clients, informing them that they could either order via fax—the most hassle-free method of ordering he had—or they could look elsewhere for his product. As a result, he cut his workload significantly while doubling the volume of his sales.

What I took away from Ferriss' exploration of the principle was its dual nature. Based on his experiences—and on my own—you have a choice: you can exert your energy in the direction that brings you the greatest rewards—often seemingly without any great effort on your part—or you can direct your energy where getting even the smallest amount of return seems like an uphill climb.

I shared this principle recently with one of my coaching clients. She is a brilliant entrepreneur and yet she often feels overwhelmed and frustrated. She has been spending the bulk of her time satisfying other people in ways that have little or nothing to do with what brings her satisfaction.

She still has something to show for her time and energy—her colleagues love her, and her clients see her as a sort of superhero fighting for their success—but these were not the rewards she was looking for when she started her business.

On the other hand, she could see areas where she did want to direct her energy. She engaged volunteers to write newsletters and keep up with other social media. She hired an assistant to take care of aspects of the business that did not require her immediate attention, like responding to emails.

Delegating her responsibilities frees up time to do what she's really good at – providing services and developing new ideas - while still allowing her to do other things she loves – like preparing and enjoying meals with her partner, taking walks with her dogs and meeting friends for bike rides. And she is happier than she ever thought possible.

Most folks would agree that the majority of their time is not spent on their priorities or the aspects of their lives they find most gratifying, and that's why they can benefit from this principle.

To apply the Pareto principle to your life you only have to do one thing – focus your attention on what matters most, the things you do well and what makes you happy.

What do you enjoy most and how will you give it more attention?

Stacey Curnow works as a certified nurse-midwife in North Carolina, and over more than 15 years her career has taken her from western Indian reservations to a center-city Bronx hospital to the mountains of southwestern Mexico.

She has been an enthusiastic student of positive psychology for years and applies it to her midwifery and life coaching practices with great success. You can find out more about her services at www.midwifeforyourlife.com.

She is the creator of a thriving blog and many of her articles have been published in print magazines and online.

She lives in Asheville, NC with her husband, young son, and Ruby the wonder chicken.