THE 80/20 PRINCIPLE by Richard Koch | Core Message

For optimum results, I watched 20% of the video!

I think it applies best to concepts that aren't abstract ideas, but can be measured with solid data. Business is an excellent field to apply this principle to, but the Pareto principle is huge in nature. For instance: 80% of the traffic is on 20% of the roads. 80% of the wealth is owned by 20% of the population. 20% of criminals commit 80% of the crimes. 20% of your clothes are worn 80% of the time. There are countless when it comes to business, one of the more important ones lending to customer service is that 80% of income is created by 20% of the client base. This pattern is linked with fractals, the fibbonacci sequence, and a number of others. It's a universal one that governs many many things Perry Marshal's 80/20 Sales and Marketing is super good if you want concrete ideas to apply to a biz... he even explains how the original 80/20 segment has an 80/20 within it when it comes to data eg. super high value clients - it's crazy stuff!

I've done this as an exercise and discovered of the 80% activities that yield only 20% of the results, not all of those activities were weighted equally. It's not unreasonable to identify the top 20% of the remaining 80%. Now you'll have 36% of your activities yielding 96% of your best results. (80% of 20% is 16%).

Very informative. Thank you

Been waiting for this one, thank you!

There's a problem with this method. Life is always a trial and error. You need that four failures(80%) to find out successful fifth one(20%).

Only based on personal experience, I think it's highly questionable to say that simply doubling the time you spend on enjoyable things will result in a doubling of happiness. Pretty much everybody is aware of the idea of diminishing returns - eg, the second hour you spend on something isn't quite as enjoyable as the first, the third not as enjoyable as the second, and so forth. Eventually it might not even be enjoyable at all. The book's logic seems to be that if we spend our time only on the initial 20% of things that make up 80% of our happiness, we could potentially increase our happiness 400%. It seems apparent to me based on life experience that this simply isn't the case.

I love stuff that just works. I hate stuff that just doesn't; who needs that?

I just finished it now 😃 as I log into YouTube and here you are explaining it. 🇿🇦 The coincidence 🌍🧠🎉👣

Excellent book, read during middle stages of Uni, it really elevated my perspective on "time" and activities with respect to goals. Applied it and it worked excellently for some semesters. Simply outstanding!!!!

Feels like this rule is true in almost ALL walks of life!

Your videos keep getting better and I noticed that you are including a lot more personal examples which are super useful! Thanks for sharing and making great videos!

Thank you for taking the time to explain these great concepts concisely!

Your channel is a perfect example of getting more out of less. Thanks!

I bought the book a couple of weeks ago.

Thank you. Wonderful as always.

Thank you very much for this video! Very motivating like always. It is important to invest in the right things to live a happy life. Greatings from Germany! Ana

My understanding: SEARCH the most important point/part & COMPLETE it!

Just don't waste you're time, on moments,scenarios that take everything. Great article.

Outstanding video! Great job