The 80/20 Principle: The Secret of Achieving More with Less
Richard Koch
Language: English
Pages: 0
ISBN: 1486213421
Format: PDF / Kindle (mobi) / ePub
The Secret of Success by Achieving More With Less.
Learn how you can tap the hidden potential of the 80/20 principle in your life.
Richard Koch is a highly successful entrepreneur and investor. The 80/20 Principle―that 80 per cent of results flow from just 20 per cent of the causes―is the one true principle of highly effective people and organisations.
In one of the decade’s most original, provocative and powerful books, The 80/20 Principle shows how you can achieve much more with much less effort, time and resources, simply by concentrating on the all-important 20 per cent.
Astonishingly, though the 80/20 Principle has greatly influenced today’s world, this is the first book which shows you how to use it in a systematic and practical way.
“Through multiple examples, and a punchy down-to-earth commentary, Koch offers the first really useful advice we've seen in a management book for years.” ―Business Age
“Congratulations! The 80/20 Principle is terrific.” ―Al Ries, bestselling author of Focus and Positioning
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investments that succeed beyond everyone’s wildest dreams. When a business keeps performing below its budgets, you may be sure you have a dog. When a business consistently outperforms expectations, there is at least a good chance that it can be multiplied by ten or a hundred times. In these circumstances, most people settle for modest growth. Those who seize the day become seriously rich. THE TOP 10 BUSINESS USES 129 Inventory management We saw in Chapter 5 that simplicity requires few
greater proportion of time which should be allowed for its detailed planning and thinking through. When I was a partner at management consultants Bain & Company, we proved conclusively that the best-managed projects we undertook—those that had the highest client and consultant satisfaction, the least wasted time and the highest margins—were those where there was the greatest ratio of planning time to execution time. In the planning phase, write down all the critical issues that you are trying to
and achievement or happiness on the other. Does the most productive fifth of your time lead to four-fifths of valuable results? Are four-fifths of your happiest times concentrated into one-fifth of your life? These are important questions and should not be answered glibly. It might be an idea to set this book aside and go for a walk. Don’t come back until you have decided whether your use of time is unbalanced. The point is not to manage your time better! If your use of time is unbalanced, a
future. Viewed in this way, the future is not a random movie which we are half way through, aware of (and terrified by) time whizzing past. Rather, the future is a dimension of the present and the past, giving us the opportunity to create something TIME REVOLUTION 165 better. 80/20 Thinking insists that this is always possible. All we have to do is to give freer rein and better direction to our most positive 20 per cent. A primer for time revolutionaries Here are seven steps to detonating a
pattern. Let us imagine that a company has 100 products and has found out that the most profitable 20 products account for 80 per cent of all profits. In Figure 2, the bar on the left comprises the 100 products, each occupying an equal hundredth of the space. Figure 2. HOW TO THINK 80/20 23 In the bar on the right are the total profits of the company from the 100 products. Imagine that the profits from the one most profitable product are filled in from the top of the right-hand bar
