The 80/20 Principle
a book by Richard Koch — the secret to achieving more with less
A majority of our time and effort is spent inefficiently on things that produce very little reward. The Pareto Principle has implications for every area of life, and helps single out the most important factors in any situation.
the majority of our time is not spent efficiently
Economist Vilfredo Pareto founded a principle specifying that in almost any area, a mere 20 percent of the effort produces 80 percent of the reward. This means that a majority of our time is not spent efficiently, and if we refocus on the 20 percent that is producing the most results, we will see a tremendous boost in efficiency. This simple concept can be applied to any sphere of life, ranging from business to friends and quality of life.
The author is a former management consultant who retired to begin writing in 1990. He has authored 18 books, including the The Power Laws, Living the 80/20 Way and Superconnect. He successfully applies the Pareto principle to his own life, and the book was named one of GQ’s Top 25 Business Books of the Twentieth Century.
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