Saturday, May 27, 2023

book: The 80/20 Principle

The 80/20 Principle by Richard Koch Book Summary | Philosopher's Notes

Did you know 20% of beer drinkers drink 80% of the beer? And that 20% of streets account for 80% of the traffic? And that most peeps wear 20% of their clothes 80% of the time? And that 20% of customers/products usually account for about 80% of profits? Yepperz. In this Note, we’ll explore the 80/20 principle and how we can apply its power to every aspect of our lives to "achieve more with less."

"The important takeaway from this chapter on the Pareto principle is not to run around with a calculator and actually do the math to figure out 80 percent and 20 percent calculations in different areas of your life.

It’s more important to have a mindset of identifying the few things and activities that will give you outsized returns. You want to:
  • Look for shortcuts.
  • Do the most important things exceptionally well, and the rest just ‘good enough’ or not at all.
  • Develop your skills to be exceptional in a few targeted areas; don’t try to master everything.
  • Realize that you can work less, stress less, and increase your happiness by figuring out the 20 percent of goals and activities that are most important to you.”

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