How can anyone be more effective with less effort by learning how to identify and leverage the 80/20 principle? Strange as it may sound but it is interesting to know that 80 percent of all our results in business and in life stem from a mere 20 percent of our efforts.
The 80/20 principle is one of the great secrets of highly effective people and organizations.
The principle aims to show the fundamentally unbalanced way in which the world works. Originally pointed out by the Italian economist Pareto (and also known as Pareto’s Law), the principle has been the mainstay of strategic management consultants and the secret of more successful companies.
Its results may seem like magic for those not aware of it, because it defies conventional economic …show more content…
That 20 percent of our time accounts for 80 percent of the work we accomplish? The 80/20 Principle shows how we can achieve much more with much less effort, time, and resources, simply by identifying and focusing our efforts on the 20 percent that really counts. Although the 80/20 principle has long influenced today's business world, author Richard Koch reveals how the principle works and shows how we can use it in a systematic and practical way to vastly increase our effectiveness, and improve our careers and our companies as well.
The unspoken effect to the 80/20 principle is that little of what we spend our time on actually counts. But by concentrating on those things that do, we can unlock the enormous potential of the magic 20 percent, and transform our effectiveness overall.
The Author Richard Koch writes about the well-documented but counterintuitive principle that 80% of effects or results come from only 20% of efforts. Most sales will come from only 20% of the product line; 20% of a carpet gets the majority of its wear and tear; and applied to personal life, 80% of happiness comes from less than 20% of your …show more content…
There is an abundance of time once we start spending it on the 20% that matters. Instead of being always short of time, the dangerous truth is that we are awash with it but ‘profligate in its abuse’.
• It is OK to be lazy
Koch introduces us to the Von Manstein matrix. Von Manstein was a German general, who concluded that the best officers, who made the least mistakes and were the most far-sighted, were both intelligent and lazy. Koch applies the matrix to today’s economy, stating that the key to becoming a star is to ‘simulate, manufacture and deploy lazy intelligence’. Instead of choosing the difficult or a generic goal that we think will bring us respect, we should focus on what comes easily.
Capitalism allows people to become successful and rich just by being themselves: in fulfilling their highest expression, they create a small but highly valuable niche. This is in full accord with an information economy demanding ever-greater
The 80/20 principle is one of the great secrets of highly effective people and organizations.
The principle aims to show the fundamentally unbalanced way in which the world works. Originally pointed out by the Italian economist Pareto (and also known as Pareto’s Law), the principle has been the mainstay of strategic management consultants and the secret of more successful companies.
Its results may seem like magic for those not aware of it, because it defies conventional economic …show more content…
That 20 percent of our time accounts for 80 percent of the work we accomplish? The 80/20 Principle shows how we can achieve much more with much less effort, time, and resources, simply by identifying and focusing our efforts on the 20 percent that really counts. Although the 80/20 principle has long influenced today's business world, author Richard Koch reveals how the principle works and shows how we can use it in a systematic and practical way to vastly increase our effectiveness, and improve our careers and our companies as well.
The unspoken effect to the 80/20 principle is that little of what we spend our time on actually counts. But by concentrating on those things that do, we can unlock the enormous potential of the magic 20 percent, and transform our effectiveness overall.
The Author Richard Koch writes about the well-documented but counterintuitive principle that 80% of effects or results come from only 20% of efforts. Most sales will come from only 20% of the product line; 20% of a carpet gets the majority of its wear and tear; and applied to personal life, 80% of happiness comes from less than 20% of your …show more content…
There is an abundance of time once we start spending it on the 20% that matters. Instead of being always short of time, the dangerous truth is that we are awash with it but ‘profligate in its abuse’.
• It is OK to be lazy
Koch introduces us to the Von Manstein matrix. Von Manstein was a German general, who concluded that the best officers, who made the least mistakes and were the most far-sighted, were both intelligent and lazy. Koch applies the matrix to today’s economy, stating that the key to becoming a star is to ‘simulate, manufacture and deploy lazy intelligence’. Instead of choosing the difficult or a generic goal that we think will bring us respect, we should focus on what comes easily.
Capitalism allows people to become successful and rich just by being themselves: in fulfilling their highest expression, they create a small but highly valuable niche. This is in full accord with an information economy demanding ever-greater