The 80/20 Principle
HINT 3: ONLY WORK FOR AN 80/20 BOSS What is an 80/20 boss? Someone who consciously or unconsciously follows the principle.
Richard Koch • The 80/20 Principle
The pipelines—value chain supplier, for example, Nokia and its rival traditional phone makers—lose out to the new platform providers. When the market leader changes from a pipeline-only business to one that adds a platform, 80/20 gravitates remorselessly to 90/10 and then on toward 99/1. Besides platforms being so much more profitable than pipeline
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Koch’s 10 commandments of investment 1 Make your investment philosophy reflect your personality 2 Be proactive and unbalanced 3 Invest mainly in the stock market 4 Invest for the long term 5 Invest most when the market is low 6 If you can’t beat the market, track it 7 Build your investments on your expertise 8 Consider the merits of emerging market
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Daniel Goleman and other writers have contrasted academic intelligence or IQ with emotional intelligence: “abilities such as being able to motivate oneself and delay gratification; to regulate one’s moods and to keep distress from swamping the ability to think; to empathize and to hope.”5 Emotional intelligence is more crucial for happiness than in
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No doubt you have your own pressure points. Write them down: now! Consciously engineer your life to avoid them; write down how: now! Check each month how far you are succeeding. Congratulate yourself on each small avoidance victory.
Richard Koch • The 80/20 Principle
Eric Schmidt, chairman of Google’s parent Alphabet, explains: I would like to tell you that the Internet has created such a level playing field that the long tail is absolutely the place to be. Unfortunately, that’s not the case. What really happens is something called a power law. A small number of things are very highly concentrated and most othe
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To do this, set a “lock-gain” price at which you will sell, 15 percent below the high.
Richard Koch • The 80/20 Principle
Those who have embraced the principle find that the line between work and non-work becomes increasingly blurred. In this sense, the yin and yang of life are re-established. Although there are two apparently opposite dimensions to the 80/20 Principle—efficiency and life enhancement—the dimensions are entirely complementary and interwoven. The effici
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HINT 4: FIND YOUR 80/20 IDEA