Price’s Law Explained: Why Only A Few People Get The Majority Of Rewards

Price’s law is something that can truly change the outcome of your life and career. It can make you or BREAK you. On this episode, I explain why that is and how you can use it to become successful.

The rule says: 50% of the work is done by the square root of the total number of people who participate in the work.

I didn’t know about Price’s law until recently when I watched a lecture by Dr. Jordan Peterson, psychology professor, and author of 12 Rules For Life (https://amzn.to/2Iodkgf).

Understanding the underlying idea of Price’s law can make your life a lot easier. Look at your current profession. Are you in a position to create substantial value? If the answer is no, move on to a different place where you CAN.

Become very good at what you do. That’s the only way you can provide value. We must be realistic. There are no shortcuts. It takes time to be good—let alone be great.

When you provide more value, you feel better, plus you’ll earn more. Not a bad side-effect of doing great work. Look, life is not symmetric nor linear. Only a few people in every domain are responsible for half of the results.

Hence, find the domain YOU can be the important minority — you’ll also get the majority of the benefits. Then, let me know if your life isn’t better.

#priceslaw #jordanpeterson #derekprice
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