Summary of Richard Koch's The 80/20 Principle

By IRB Media

Get the Summary of Richard Koch's The 80/20 Principle in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: By reading this summary, you will discover all the ways to use the "80/20 principle" in business and in your everyday life. You will also discover : that the "Pareto principle" is useful in strategy, marketing, sales, inventory and project management, negotiation; that most efforts do not produce the expected results; that a wide range of products makes you lose customers; that applying Pareto is above all about changing your mindset.

With his book entitled "The 80/20 Principle, Doing More with Less", Richard Koch breathes new life into the law of least effort. Convinced that success and happiness are compatible, he explains how to earn money, live constructive relationships at work, and lead an enjoyable life.

• Language: English
• Publisher: IRB Media
• Release date: Jan 31, 2021
• ISBN: 9781638151814

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Summary

of

Richard Koch’s

The 80/20 Principle

The Secret to Achieving More with Less

Table of Contents

Overview

Key Insights

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Key Insight 8

Important People

Author’s Style

Author’s Perspective

Overview

The 80/20 Principle: The Secret to Achieving More with Less (first published in 1997, and updated most recently in 2017) by Richard Koch is a self-help book about how to achieve maximal results from minimal input. The 80/20 Principle states that the universe is imbalanced in such a way that 20 percent of causes lead to 80 percent of results. By identifying the inputs that are most important in any venture, personal or professional, it becomes possible to reap big rewards from little effort.

The first thing to know about the 80/20 Principle is that the numbers 80 and 20 are somewhat arbitrary. The actual numbers can be, and usually are, more or less. What’s important to understand is that, generally speaking, a small number of one’s actions leads to most of