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Other Added - How to Think 80-20 Principle
If you're a manager then you've been told at least once that you have to "motivate your people." But how do you do that? Here's what you can do to get the job done.Change your mindset. Forget about "motivating" people. You can't see motivation. Motivation is inside another person's head and heart. You can't touch it. You can't measure it. And, therefore you can't manage it.Think about managing the things you can see and measure. Start concentrating on behavior and performance. The things people say and do are behavior. The
No boundaries
No activity is immune from the influence of the 80/20 Principle. If you want the benefit from 80/20 Thinking, you have to do it!
When I was attending tech school and had taken all the courses offered in electronics, I unknowingly used the 80/20 Principle by applying for a teaching job at the same school. That small step was the tipping point in my career and eventually landed me a job with Eastman Kodak Co.
When Jesus called Simon Peter to follow him and become fishers of men, he was using the 80/20 Principle by choosing a few to touch millions. Jesus concentrated on the twelve, teaching them so that the world might be reached.
Suggested reading: The 80/20 Principle, By Richard Koch, ISBN 0-385-49174-3
Think of an example in you life where the 80/20 Principle work
You know, I am a keen observer of business activities, not at international level, but at the nook and corner of the city.A “school drop out” makes gold coins on the street!I was watching at the boy in a corner shop at the ninth street of that populous cross cut road. He was holding a small slicing tool with one hand and operating it rhythmically with the other. The slices fly off and fall into the simmering coconut oil. He turns and takes them out as gold coins. Yes. When you see them, they look like gold coins. More or l
The 80/20 Principle is based on the fact that in most cases 80% of the results come about due to 20% of the effort. The same is true in reverse 80% of failure is due to 20% lack of effort or effort in the wrong direction. The relationship between effort and results are unbalanced. When actually measured it may turn out that only 15% of the effort resulted in 80% of the result or 25% of the effort resulted in 73% of the result, but it will hardly ever be 50% of the effort resulting in 50% of the result. In other words it will never be balanced.
If you are looking at products, you will find the about 20% of any given number of products in a company account for about 80% of the profits. The flip side of this would be that 80% of the products make only 20% of the profits. Nearly always, a small proportion of the total products produce a large proportion of the profits.
How to use the 80/20 Principle
There are two applications of the 80/20 Principle, 80/20 Analysis and 80/20 Thinking.
80/20 Analysis
Precise
Quantitative
Requires investigation
Provides facts
Highly valuable
80/20 Thinking
Fuzzy
Qualitative
Requires thought
Provides insight
Highly valuable
80/20 Analysis looks at the relationship between two sets of data. One set is always people or objects, usually a large number of 100 or more, that can be turned into a percentage. The second set of data relates to some interesting characteristic of the people or objects that can be measured and turned into a percentage.
80/20 Thinking is a hypothesis about a possible imbalance between inputs and outputs. Instead of collecting data and analyzing them, we estimate them. 80/20 Thinking requires us to spot the few really important things that are happening and ignore the large number of unimportant things. When we are using the 80/20 Principle, we do not assume that its results are good or bad or that the powerful forces we observe are good. We decide if they are good and if so encourage the minority forces in the right direction.
The 80/20 Principle turns conventional wisdom upside down
Application of the 80/20 Principle implies that we should do the following:
1. Celebrate exceptional productivity, rather than raise the average efforts.
2. Look for the short cut, rather than run the full course.
3. Exercise control over our lives with the least possible effort.
4. Be selective, not exhaustive.
5. Strive for excellence in a few things, rather than good performance in many.
6. Delegate or out source as much as possible in our daily lives to specialists, instead of doing the work ourselves.
7. Choose our careers and employers with extraordinary care, and if possible employ others rather than being employed ourselves.
8. Only do the thing we are best at doing and enjoy most.
9. Look beneath the normal texture of life to uncover ironies and oddities.
10. In every important sphere, work out where 20 percent of effort can lead to 80 percent of returns.
11. Calm down, work less and target a limited number of very valuable goals where the 80/20 Principle will work for you, rather than pursuing every available opportunity. 1 2. Make the best of the few times in our life when we are at our creative peak and things are working really well.
No boundaries
No activity is immune from the influence of the 80/20 Principle. If you want the benefit from 80/20 Thinking, you have to do it!
When I was attending tech school and had taken all the courses offered in electronics, I unknowingly used the 80/20 Principle by applying for a teaching job at the same school. That small step was the tipping point in my career and eventually landed me a job with Eastman Kodak Co.
When Jesus called Simon Peter to follow him and become fishers of men, he was using the 80/20 Principle by choosing a few to touch millions. Jesus concentrated on the twelve, teaching them so that the world might be reached.
Suggested reading: The 80/20 Principle, By Richard Koch, ISBN 0-385-49174-3
Think of an example in you life where the 80/20 Principle worke
Is it possible for a business to spend too much of its advertising dollar on direct-mail or direct marketing? Some experts believe it is and they have some pretty good rationale for why they believe this. For instance consider if you send out coupons all the time and you end up training your customers to wait for the coupon so that they can use it and then they come to expect the coupon and therefore if you ever stop sending out the coupons your customers will stop coming to the store.That is unfortunate because the reason you send ou
How to use the 80/20 Principle
There are two applications of the 80/20 Principle, 80/20 Analysis and 80/20 Thinking.
80/20 Analysis
Precise
Quantitative
Requires investigation
Provides facts
Highly valuable
80/20 Thinking
Fuzzy
Qualitative
Requires thought
Provides insight
Highly valuable
80/20 Analysis looks at the relationship between two sets of data. One set is always people or objects, usually a large number of 100 or more, that can be turned into a percentage. The second set of data relates to some interesting characteristic of the people or objects that can be measured and turned into a percentage.
80/20 Thinking is a hypothesis about a possible imbalance between inputs and outputs. Instead of collecting data and analyzing them, we estimate them. 80/20 Thinking requires us to spot the few really important things that are happening and ignore the large number of unimportant things. When we are using the 80/20 Principle, we do not assume that its results are good or bad or that the powerful forces we observe are good. We decide if they are good and if so encourage the minority forces in the right direction.
The 80/20 Principle turns conventional wisdom upside down
Application of the 80/20 Principle implies that we should do the following:
1. Celebrate exceptional productivity, rather than raise the average efforts.
2. Look for the short cut, rather than run the full course.
3. Exercise control over our lives with the least possible effort.
4. Be selective, not exhaustive.
5. Strive for excellence in a few things, rather than good performance in many.
6. Delegate or out source as much as possible in our daily lives to specialists, instead of doing the work ourselves.
7. Choose our careers and employers with extraordinary care, and if possible employ others rather than being employed ourselves.
8. Only do the thing we are best at doing and enjoy most.
9. Look beneath the normal texture of life to uncover ironies and oddities.
10. In every important sphere, work out where 20 percent of effort can lead to 80 percent of returns.
11. Calm down, work less and target a limited number of very valuable goals where the 80/20 Principle will work for you, rather than pursuing every available opportunity. 1 2. Make the best of the few times in our life when we are at our creative peak and things are working really well.
No boundaries
No activity is immune from the influence of the 80/20 Principle. If you want the benefit from 80/20 Thinking, you have to do it!
When I was attending tech school and had taken all the courses offered in electronics, I unknowingly used the 80/20 Principle by applying for a teaching job at the same school. That small step was the tipping point in my career and eventually landed me a job with Eastman Kodak Co.
When Jesus called Simon Peter to follow him and become fishers of men, he was using the 80/20 Principle by choosing a few to touch millions. Jesus concentrated on the twelve, teaching them so that the world might be reached.
Suggested reading: The 80/20 Principle, By Richard Koch, ISBN 0-385-49174-3
Think of an example in you life where the 80/20 Principle work
A lot of people have no fear of standing up in public and making a presentation. They have all the self confidence that it takes, and they have been doing it for so long that they tend to pour scorn on those who quake at the knees at the very thought. However it may not necessarily mean that an experienced presenter has nothing new to learn. And if your are one of these people who will have to face up to the challenges of making a presentation in the near future, here are a few tips on how to make a presentation that works.1.
The 80/20 Principle turns conventional wisdom upside down
Application of the 80/20 Principle implies that we should do the following:
1. Celebrate exceptional productivity, rather than raise the average efforts.
2. Look for the short cut, rather than run the full course.
3. Exercise control over our lives with the least possible effort.
4. Be selective, not exhaustive.
5. Strive for excellence in a few things, rather than good performance in many.
6. Delegate or out source as much as possible in our daily lives to specialists, instead of doing the work ourselves.
7. Choose our careers and employers with extraordinary care, and if possible employ others rather than being employed ourselves.
8. Only do the thing we are best at doing and enjoy most.
9. Look beneath the normal texture of life to uncover ironies and oddities.
10. In every important sphere, work out where 20 percent of effort can lead to 80 percent of returns.
11. Calm down, work less and target a limited number of very valuable goals where the 80/20 Principle will work for you, rather than pursuing every available opportunity. 1 2. Make the best of the few times in our life when we are at our creative peak and things are working really well.
No boundaries
No activity is immune from the influence of the 80/20 Principle. If you want the benefit from 80/20 Thinking, you have to do it!
When I was attending tech school and had taken all the courses offered in electronics, I unknowingly used the 80/20 Principle by applying for a teaching job at the same school. That small step was the tipping point in my career and eventually landed me a job with Eastman Kodak Co.
When Jesus called Simon Peter to follow him and become fishers of men, he was using the 80/20 Principle by choosing a few to touch millions. Jesus concentrated on the twelve, teaching them so that the world might be reached.
Suggested reading: The 80/20 Principle, By Richard Koch, ISBN 0-385-49174-3
Think of an example in you life where the 80/20 Principle work
There are so many competitions by running business. So you must do something in a smart way. Check this list to see which ones you can use in order to pull more profits from your business. 1. Gain an advantage over your competition. You should find one benefit your competition doesn't offer and use it as your main selling point. 2. Design your e-zine so it creates multiple free advertising streams. Ask readers to forward it to people they know, offer ad trades, etc. 3. Allow your visitors to subscribe to an update e-z
5. Strive for excellence in a few things, rather than good performance in many.
6. Delegate or out source as much as possible in our daily lives to specialists, instead of doing the work ourselves.
7. Choose our careers and employers with extraordinary care, and if possible employ others rather than being employed ourselves.
8. Only do the thing we are best at doing and enjoy most.
9. Look beneath the normal texture of life to uncover ironies and oddities.
10. In every important sphere, work out where 20 percent of effort can lead to 80 percent of returns.
11. Calm down, work less and target a limited number of very valuable goals where the 80/20 Principle will work for you, rather than pursuing every available opportunity. 1 2. Make the best of the few times in our life when we are at our creative peak and things are working really well.
No boundaries
No activity is immune from the influence of the 80/20 Principle. If you want the benefit from 80/20 Thinking, you have to do it!
When I was attending tech school and had taken all the courses offered in electronics, I unknowingly used the 80/20 Principle by applying for a teaching job at the same school. That small step was the tipping point in my career and eventually landed me a job with Eastman Kodak Co.
When Jesus called Simon Peter to follow him and become fishers of men, he was using the 80/20 Principle by choosing a few to touch millions. Jesus concentrated on the twelve, teaching them so that the world might be reached.
Suggested reading: The 80/20 Principle, By Richard Koch, ISBN 0-385-49174-3
Think of an example in you life where the 80/20 Principle work
There are many ways to be number one in the market place and kill the competition, but the best way is to give great customer service and allow your customers to decide who becomes number one. Is Your Customer Service Clobbering the Competition; it should be. And if it is not then you need to find out why. You need to find out how you can improve customer service and you need to insure that you never stop trying to improve.Easier said than done? Yes, but is you truly want to win market share and beat the competition you must bring in gr
No boundaries
No activity is immune from the influence of the 80/20 Principle. If you want the benefit from 80/20 Thinking, you have to do it!
When I was attending tech school and had taken all the courses offered in electronics, I unknowingly used the 80/20 Principle by applying for a teaching job at the same school. That small step was the tipping point in my career and eventually landed me a job with Eastman Kodak Co.
When Jesus called Simon Peter to follow him and become fishers of men, he was using the 80/20 Principle by choosing a few to touch millions. Jesus concentrated on the twelve, teaching them so that the world might be reached.
Suggested reading: The 80/20 Principle, By Richard Koch, ISBN 0-385-49174-3
Think of an example in you life where the 80/20 Principle worked for you.
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