80 20 principle book9/26/2023 ![]() Richard Koch brings in a number of different domains in the purview of the 80/20 principle. It’s one of those books you would look forward to reading until the very end. All in all, the potpourri nature of the book only adds to the intellectual heft. There are no loose ends, no mind-numbing phrases and no yawn-inducing chapters. What I like the most about the book is the eloquent and cerebral manner in which it has been written. ![]() Let me sound you off at the outset that if you are a hardcore statistics aficionado or for that matter, someone who considers any improvisation on good old economic principles as preposterously insulting, then, you might feel let down a bit.Īt the same time, I would stick my neck out and proclaim that this book is a must-read for management students, educators, corporate greenhorns (for whom the corporate learning curve seems mighty steep) and anyone who hasn’t read an ‘ un-boring’ management book for a long time. Richard Koch’s version of the 80/20 principle deals with the same issue, albeit, in many different contexts – ranging from personal achievements to business strategy to marketing and what you have. Needless to mention, the results are anything but encouraging. Yet, we keep on trudging along, trying to work off our gray areas in order to achieve success. Many of us may already be cognizant of the fact that our incapabilities far outnumber the capabilities we have. On the contrary, it’s a function of how well we know what we don’t know. In other words, our success in life is not a function of how many things we know. The 80/20 principle is a principle of selectivity and focus in a way, indicating the benefits one can leverage from standing for something. I found the essence of the principle quite refreshing and inspiring. I was introduced to the concept of Pareto’s 80/20 Law in my B-School. As you read, you’ll learn how to find your happiness islands, how to save money like the wealthy, and lastly, how living a simple life may be the key to success.Ginger Rogers – the Academy award-winning actress – had once famously quipped – “Stand for something or you will fall for anything.”ĭespite the fact that Ginger’s context was entirely different from Pareto’s, I could always relate the two. In other words, we can achieve more by doing less. While this principle has been used successfully in the business and economics world, it can now be applied to the lives of any individual. For example, the world’s top 20 percent of people generate 80 percent of the world’s wealth. The 80/20 principle refers to the observation that roughly 80 percent of results stem from 20 percent of causes. Here’s where the 80/20 principle comes in. We spend most of our time exerting our energy at work, only to find that when we get home, we are too exhausted and to give our best selves to our families and friends. There has to be more, right? Well, according to Koch, we are living life all wrong instead of working to live, we live to work. ![]() You simply wake up, head to work, sit at your desk all day, head home, eat dinner, go to bed, and do it all again the next day. Like most people in today's society, you may be tired of the daily grind. Learn how living the 80/20 way can help you find happiness and success by simply doing less.
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