Richard Koch, author of The 80/20 Principle, claims the key to success is “productive laziness”. He explains how you achieve about 80% of your results with about 20% of your activities; the rest is wasted effort.
“Even if you are hard-working, you can learn to become lazy.”
Here are some key points you should consider in your business now:
– Focus on the 20% of products and customers that produces 80% of your profits
– Reward the minority of employees who produce the most value
– Improve the performance of the other 80% of products, customers or employees – or get rid of them
Click here to read a summary of The 80/20 Principle by Richard Koch. Everyone can benefit from this. Read the summary and then read the book.