You will not believe how liberating it can be to fire a customer who’s been a real pain in the ass.ģ. If you must work more, then list out the characteristics of your 20% customers and go out and find more of them. It is to make a good living to enjoy your life. Locate the 20% of your customers who drive 80% of your profits: Find your top 20% customers (by profit, not revenue) and fire the rest. Once you start outsourcing, you’ll never go back.Ģ. Check out if you’re looking to out source. Ravi and Vikash now do that 70 or 80% for me. I outsourced a significant portion of my work to two very reliable virtual assistants in India starting in 2006. Wondering what to do with your remaining time? Enjoy life. How many of these things were necessary? How many got you closer to your goals? How many were a waste of time? How many could someone else have done? Pick the 20% of your tasks that yield 80% of the results and outsource or simply discontinue the rest. Do the 20% of your work that leads to 80% of your results: Track all the time you spend on projects each hour of each day for a week. Try the following for a few weeks and the time in your life will never be the same.ĥ ways to apply the 80/20 Principle to enhance your life:ġ. When applied to work, productivity will go through the roof, but when applied to your life outside of work, happiness and fulfillment do just the same. Richard’s purpose was to explain this ancient principle in a way that would inspire action and application to every part of life. The amazing thing is that the studies in this book show the principle working in just about every possible scenario. The time saved and gained will blow your mind. It took me reading it a couple times to grasp the simplicity and life-altering implications of the principle. The 80/20 Principle is the source material for what Tim wrote in The 4-Hour Work Week. Other than two people that is: Richard Kock and Tim Ferriss–and the people who have since followed in their footsteps (me included).
RICHARD KOCH 80 20 PRINCIPLE FULL
Few actually do a full 80/20 analysis of their business and almost no one I’ve come across has applied the same to their life as a whole. It’s often thrown around in business as nothing more than a buzzword.
It goes something like this:Ĩ0% of the results come from 20% of the effort. We’ve all surely heard of the 80/20 Principle, or Pareto’s Law as it’s more formally known. Why You Should Read It: The principles in this book can literally add hours to your days and compound your happiness. But by concentrating on those things that do, we can unlock the enormous potential of the magic 20 percent, and transform our effectiveness in our jobs, our careers, our businesses, and our lives. The unspoken corollary to the 80/20 principle is that little of what we spend our time on actually 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. The 80/20 principle is one of the great secrets of highly effective people and organizations.ĭid you know, for example, that 20 percent of customers account for 80 percent of revenues? 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.
RICHARD KOCH 80 20 PRINCIPLE HOW TO
How anyone can be more effective with less effort by learning how to identify and leverage the 80/20 principle-the well-known, unpublicized secret that 80 percent of all our results in business and in life stem from a mere 20 percent of our efforts.
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