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The 80/20 Principle: The Secret to Success by Achieving More with Less

The 80/20 Principle: The Secret to Success by Achieving More with LessAuthor: Richard Koch
Publisher: Crown Business
Category: Book

List Price: $15.95
Buy Used: $3.99
as of 9/6/2010 19:45 MST details
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New (29) Used (47) from $3.99

Seller: goodwillbooks
Rating: 4.5 out of 5 stars 95 reviews
Sales Rank: 15184

Media: Paperback
Pages: 288
Number Of Items: 1
Shipping Weight (lbs): 0.6
Dimensions (in): 8.1 x 5.3 x 1

ISBN: 0385491743
Dewey Decimal Number: 650.1
EAN: 9780385491747
ASIN: 0385491743

Publication Date: October 19, 1999
Availability: Usually ships in 1-2 business days

Features:
  • ISBN13: 9780385491747
  • Condition: New
  • Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed

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Editorial Reviews:

Amazon.com Review
In 1897, Italian economist Vilfredo Pareto, in his study of the patterns of wealth and income, observed that the distribution of wealth was predictably unbalanced. He first discovered this pattern in 19th-century England and found it to be the same for every country and time period he studied. Over the years, Pareto's observation has become known as the 80/20 principle.

Now in 1998, Richard Koch takes a fresh look at the 80/20 principle and finds that the basic imbalance observed by Pareto 100 years ago can be found in almost every aspect of modern life. Whether you're investing in stocks, analyzing company sales, or looking at the performance of a Web site, you'll find that it's usually 20 percent that produces 80 percent of the total result. This means 80 percent of what you do may not count for much. Koch helps you to identify that 20 percent and shows you how you can get more out of your business, and life, for less.

Product Description
How anyone can be more effective with less effort by learning how to identify and leverage the 80/20 principle--the well-known, unpublicized secret that 80 percent of all our results in business and in life stem from a mere 20 percent of our efforts.

The 80/20 principle is one of the great secrets of highly effective people and organizations.

Did you know, for example, that 20 percent of customers account for 80 percent of revenues? That 20 percent of our time accounts for 80 percent of the work we accomplish? The 80/20 Principle shows how we can achieve much more with much less effort, time, and resources, simply by identifying and focusing our efforts on the 20 percent that really counts. Although the 80/20 principle has long influenced today's business world, author Richard Koch reveals how the principle works and shows how we can use it in a systematic and practical way to vastly increase our effectiveness, and improve our careers and our companies.

The unspoken corollary to the 80/20 principle is that little of what we spend our time on actually counts. But by concentrating on those things that do, we can unlock the enormous potential of the magic 20 percent, and transform our effectiveness in our jobs, our careers, our businesses, and our lives.



Customer Reviews:
Showing reviews 1-5 of 95
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5 out of 5 stars Clear Concepts & Powerful Implementation Strategy   September 3, 2010
G. Cabiro (Racine, WI USA)
An excellent book that clearly describes, not only the Pareto Rule, but how to implement it to maximize profitability with minimal effort, both in the company as well as in your personal life.

While the Pareto Rule (80/20 principle) is widely know, many companies do not fully exploit its potential to grow profitability.

The author, Richard Koch, describes how 80% of clients' perceived value comes from 20% of the company's activities. Also, 80% of the firm's activities yield only 20% of the profits. This brings the opportunity to optimize by reducing resources given to low profit activities and deploying them to replicate the success of the top performers.

In a business that is large enough to be statistically significant, its sales, cost and profit data usually respond to a non-linear distribution that contains the 80/20 rule. For example, the top 20% of customers generate 80% of profit while the bottom 80% of customers generates only 20% of the profit.
Deeper analysis of the data usually shows that about 5% of the causes (customers, business units, market segments or products) generate 50% of the profits, while the bottom 50% of causes generate only 5% of profit or revenue. Even worse, the bottom 40% usually generates no profit at all.

I've successfully used the 80/20 Analysis and Strategy for years to reduce operating cost without losing any business or irritating any customers:

a) Product portfolio (reduced from 1,400 SKUs to 400 SKUs)
b) Customer portfolio,
c) Market segment strategy
d) Sales force, and distributor productivity
e) New product innovation metrics."



5 out of 5 stars A Great Guide for Focusing on What's Important   August 31, 2010
Scott Carter
This book should be on everyone's "must read" list. I have always dealt badly with the ability to focus on what's giving me the most result for my efforts. After reading "The 80/20 Principle", I felt that I had an excellent method for approaching everything on my plate and deciding what I absolutely should get done in order of highest value. I now can get more done in less time and have managed to drop some things off my "to do list" because they weren't really of significant value. If you are looking to do the same, this is the book for you.


5 out of 5 stars Good book, sort of hard to read for those not in the field   August 3, 2010
Lisa Braun
I am not in the business/investing field so some of the information at the beginning of the book was a bit beyond me since I am not familiar with all of the terminology, but after a while I started to catch on. I thought it was an interesting read and the information presented was clear and well written. I read the 80/20 Way after this book and I would say I enjoyed that one a bit better, maybe because it was easier for me to follow since I am not familiar with financial stuff.


5 out of 5 stars You don't need to be a math wiz.   July 7, 2010
SSTVR
For math phobes Richard Kochs' The 80/20 Principle is a great intro and explanation of one of the key insights to economics and how thw real world works. After reading this book I've become interested in tackling a more advanced treatment of this subject, and of the work of Vilfredo Pareto.


5 out of 5 stars 8020   June 29, 2010
fernando lopeztorres (EL PASO, TEXAS, US)
For you mexicanos, debemos comprar este libro y leerlo y aplicarlo una y otra vez! en verdad vale lo dice.

Showing reviews 1-5 of 95
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