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The 80/20 Principle

I recently read a refreshing book, in regard to time use and productivity, called, "The 80/20 Principle: The Secret to Achieving More with Less" by Richard Koch.

80/20 Principle

The 80/20 Principle is the idea that there is an imbalance between causes and results, inputs and outputs, effort and reward. Things often fall into one of these two categories:

Use the Principle for Success

Using the 80/20 Principle changes how we do things

Simple is Beautiful

Large and simple business is best.

All organizations are a mix of productive and unproductive forces: people, relationships, and assets

Marketing

Decision Rules

  1. Not many decisions are very important
  2. Most important decisions are often those made only by default
  3. Gather 80% of the data and perform 80% of the relevant analyses in the first 20% of the available time, then make a decision 100% of the time. Be decisive as if 100% confident this is the right call.
  4. If what you decided isn't working - change your mind early rather than late
  5. When something is working well, double and redouble your bets

Project Management

Negotiation

Think 80/20 (not 50/50)

Act 80/20 (not 50/50)

Time

It is not the shortage of time that should worry us, but the tendency for the majority of time to be spent in low-quality ways.

Relationships

Attributes for strong relationships.

Happiness

  1. Identify when you are happiest and expand these times as much as possible
  2. Identify the times you are least happy and reduce these times as much as possible

Changes:

Seven Daily Happiness Habits

  1. Exercise
  2. Mental Stimulation
  3. Spiritual/artistic stimulation/meditation
  4. Doing a good turn (think of others)
  5. Taking a pleasure break with a friend
  6. Giving yourself a treat
  7. Congratulating yourself

Seven Shortcuts to a Happy Life

  1. Maximize your control
  2. Set attainable goals
  3. Be flexible (when chance events interfere with plans and expectations)
  4. Have a close relationship with your partner
  5. Have a few happy friends
  6. Have a few close professional alliances
  7. Evolve your ideal lifestyle

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