rss twitter gitlab github linkedin
Finished Reading: The 80/20 Principle
Jul 01, 2018

I’ve been curious about this principle and book since I heard about it for the first time. I wasn’t expected the, mostly, financial content of the book which makes sense after you complete it, but it does drag a bit in the beginning.

This principle is clearly best explained with money, and Mr Koch does a great work doing so in the introductory chapters, however he also describes it using other examples like time management and relationships, personal and professional.

The 8020 Principle is a book published by Currency and written by Richard Koch. I read the most recent edition that includes a few extra chapters.

From my highlighted notes here are my takeaways:

  • Who you work for is more important than what you do.
  • Conventional wisdom say don’t put all your eggs in one basket. 8020 is Carefully choose a basket, put all the eggs in it and watch it ferociously.
  • Remove steps in your business if either is true: it adds no value or provides no necessary support.
  • Identify your islands: Happiness and Achievements. Strive to spend more time on nurturing them.
  • Two top 10 lists:
    • The Top 10 low-value uses of time, specially Answering the telephone
    • The Top 10 high-value uses of time

Finally, two quotes:

We should accept what we cannot control with grace and maturity and get on with molding what we can control.

and

Join a company with fewer than a hundred employees increasing revenues by at least 30 percent a year—ideally fewer than twenty employees and at least doubling each year.

The 8020 Principle could be dry read in the initial chapters if you’re not into finances but after finishing those, things get a bit more practical with the common down to earth examples.

Back to posts