The 80/20 Principle: The Secret of Achieving More with Less

[Pages:313]Praise for

The 80/20 Principle

`Congratulations! The 80/20 Principle is terrific.' Al Ries, bestselling author of Focus and Positioning

`Koch is a passionate 80/20er. Read this and you will be too'. Andrew Campbell, Ashridge Strategic Management Centre

`Both astute and entertaining, this is an intriguing book to help people concentrate on not wasting their lives'.

Professor Theodore Zeldin, St Anthony's College, Oxford

`Through multiple examples, and a punchy down-to-earth commentary, Koch offers the first really useful advice we've seen in a

management book for years.' Business Age

The 80/20 Principle

The Secret of Achieving More with Less

Richard Koch

NICHOLAS BREALEY PUBLISHING LONDON

To Lee

This revised edition first published by Nicholas Brealey Publishing Limited in 1998

Reprinted 1998

36 John Street London WC1N 2AT, UK Tel: +44 (0) 171 430 0224 Fax: +44 (0) 171 404 8311

671 Clover Drive Santa Rosa

California 95401, USA Tel: (707) 566 8006 Fax: (707) 566 8005



First published in hardback in 1997 Reprinted (with corrections) 1997, 1998

?Richard Koch 1997, 1998 The right of Richard Koch to be identified as the author of this work has been

asserted in accordance with the Copyright, Designs and Patents Act 1988.

ISBN 1-85788-167-2 HB ISBN 1-85788-168-0 PB

British Library Cataloguing in Publication Data A catalogue record for this book is available from the

British Library.

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical,

photocopying, recording and/or otherwise without the prior written permission of the publishers. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form, binding or cover other than that in which it is published,

without the prior consent of the publishers.

Printed in Finland by Werner Soderstrom Oy.

Although the author expresses a view on the likely future performance of certain investment instruments, this should not be taken as an incitement to deal in any of them, nor is it to be regarded as investment advice. Each individual should consider their investment position in relation to their own circumstances with the benefit of professional advice. No responsibility can be assumed by either the author or the publisher for investment or any

other decisions taken on the basis of views expressed in this book.

Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the relevant copyright, designs and patents acts, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publisher. eBooks Corporation

For a very long time, the Pareto law [the 80/20 Principle] has lumbered the economic scene like an erratic block on the landscape: an empirical law which nobody can explain.

Josef Steindl

God plays dice with the Universe. But they're loaded dice. And the main objective is to find out by what rules they were loaded and how we can use them for our own ends.

Joseph Ford

We cannot be certain to what height the human species may aspire. . . We may therefore safely acquiesce in the pleasing conclusion that every age of the world has increased, and still increases, the real wealth, the happiness, the knowledge, and perhaps the virtue, of the human race.

Edward Gibbon

Contents

Revised Acknowledgements

ix

Part One. Overture

1

Welcome to the 80/20 Principle

3

2

How to Think 80/20

21

Part Two. Corporate Success Needn't Be a Mystery

3

The Underground Cult

45

4

Why Your Strategy is Wrong

61

5

Simple is Beautiful

89

6

Hooking the Right Customers

108

7

The Top 10 Business Uses of the 80/20 Principle

124

8

The Vital Few Give Success to You

136

Part Three. Work Less, Earn and Enjoy More

9

Being Free

147

10

Time Revolution

158

11

You Can Always Get What You Want

179

12

With a Little Help From Our Friends

191

13

Intelligent and Lazy

204

14

Money, Money, Money

224

15

The Seven Habits of Happiness

238

Part Four: Crescendo

16

Progress Regained

257

Notes and References

285

Index

299

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