51.2% of results can come from 0.8% of the inputs / effort 🤯
(80/20 of 80/20 is 64/4.
80/20 of that is 51.2/0.8.
And so on.)
The discipline is figuring out what those inputs are. And only doing those.
(Something I’ve ALWAYS struggled with)
Here are a few rules I find help (straight from Richard Koch, author of The 80/20 Principle):
- Specialize in a very small niche; develop a core skill
- Choose a niche that you enjoy, where you can excel and stand a chance of becoming an acknowledged leader
- Realize that knowledge is power
- Identify your market and your core customers and serve them best
- Identify where 20 percent of effort gives 80 percent of returns
- Learn from the best
- Become self-employed early in your career
- Employ as many net value creators as possible
- Use outside contractors for everything but your core skill
- Exploit capital leverage”