Strive for excellence in few things rather than good performance in many
– Richard Koch
The 80/20 principle in any organization simply means 20% of effort that gives 80% of result. This is what translates to most productive task in any organization. The life examples are;
20% of customers bringing 80% of revenue
80% of work is completed by 20% of the team
80% of complaints come from 20% of customers
20% of marketing efforts giving 80% of results
20% of content drives 80% of traffic
Few people take objectives really seriously. They put average effort into too many things, rather than superior thought and effort into a few important things. People who achieve the most are selective as well as determined. The fact is we cannot afford to settle for being just average; we must learn as much as we can to be the best that we can. The key word is education – education with maximum effort. Without it we cannot be in charge of ourselves or anyone.
Believe it or not, it is not only possible to accomplish more by doing less; it is mandatory. However, we should understand that society is not homogenous and those who do not deliberately close their eyes have to recognize that men differ greatly from another from the physical, moral and intellectual viewpoints. We should learn to embrace change, envision what could be, challenge the status quo and drive creative destruction.
Whatever position you occupy in any organization, you are advised not to ignore a person who loves you, cares for you and misses you because one day, you might wake up and realize you lost the moon while counting the stars.
In business the 80/20 principle is behind any innovation, any extra value. It is an entrepreneurial principle, a formula for value creation utilized not only by entrepreneurs but by most managers and organizations.
– Richard Koch