80/20 Principle Tidbit
I'm reading Richard Koch's "The 80/20 Principle: The Secret to Achieving More with Less". It's a book about how 80% of your successes / achievement / profit / etc comes from 20% of your input / effort / investment / etc.
The principle, then, is to focus on the 20% that gives us the 80% result rather than focus on the full 100%. The idea being that you can work less and achieve more when you apply this principle.
I've been applying this sort of thinking with my work with great results. This month, for example, I've doubled my income by refusing to do any new work and focusing on the 20% of work/clients that pay me the 80% of my income.
I'm less stressed, less overwhelmed and also, richer :)
Here's a cool tidbit of things to do to put the principle in practise. (From page 39 in the book)
- Celebrate exceptional productivity, rather than raise average efforts.
- Look for the short cut, rather than run the full course.
- Be selective, not exhaustive.
- Strive for excellence in few things, rather than good performance in many.
- Delegate or outsource as much as possible.
- Choose careers and employers with extra care and, if possible, employ others rather than be employed.
- Only do the thing we are best at doing and enjoy most.
- Work out where 20 percent of effort can lead to 80 percent of returns.
- Calm down, work less and target a limited number of very valuable goals where the 80/20 principle can work, rather than pursuing every available opportunity.
- Make the most of those few "lucky streaks" in life where our creativity peaks and the stars line up to guarantee success.
If you're feeling overwhelmed, over-worked and under-paid, read through this every day until you can find reasonable ways (or even drastic ways) to make these bits of advice work for you.
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Riaan - Saturday, 16 Jan 2010
This is very true. I'm actually trying to use this concept to become conversationally fluent in Spanish in less than 3 months (I'm working in Costa Rica for at least the next year).
The idea is that you can seem to be a fluent Spanish speaker by focusing on the top 300 or so used words and phrases in a language to get the core principles and structures and then after that just reading magazines and books in your specific field to pick up the words and phrases you are likely to encounter.
By doing this, you should be able to learn enough to understand at least 80 - 90% of any conversation in your field, and you understand enough of the language to be able to communicate effectively outside of that field.
Norio - Saturday, 16 Jan 2010
Nice one, Riaan :)
Sounds very similar to Tim Ferriss' approach. Check out this video of his which explains his methods for getting fluent in a language in minimal time...
http://www.ted.com/talks/tim_ferriss_smash_fear_learn_anything.html