The 80/20 Principle
In today’s hectically paced world, many of us have to tackle impossibly long to-do lists each day. We may arrive at work determined to finish the first task on the list quickly, only to find that two new tasks have appeared in the meantime.
Similarly, companies find themselves inundated with complexity, trying to serve several markets with immense multitudes of different products, juggling all of them like a clown at a circus. In this chaotic environment, it is more important than ever to know what is truly essential.
That’s why it is crucial to understand the deceptively simple, but immensely powerful 80/20 Principle. This seemingly universal imbalance between effort and reward will help you use your time at work more efficiently.
What’s more, the principle is proven to help companies succeed by counterintuitive means: not by doing more, but by doing less.
Finally, you can even apply the principle to your personal life to increase your happiness and satisfaction in your relationships with others. You simply need to adopt the right 80/20 mindset and this book will show you how.
Key insights:
Usually, the largest share of the results (output) is produced by just a small part of the work (input).
Thinking with the 80/20 principle doesn’t come naturally to people, because we expect balance and fairness.
The 80/20 principle can help you improve your work process to get better results.
To increase profits in business, use the 80/20 principle.
Simplify and reduce complexity in your business to succeed.
You can apply the 80/20 principle to any aspect of your business, from negotiating to targeting marketing efforts.
Apply the 80/20 principle to your daily life by changing the way you think.
Spend your time on the most important tasks instead of focusing on time management.
Achieve an overall better quality of life through broad use of the 80/20 principle.
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