In this episode, I will be talking to you about the 80/20 principle and a book called 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More by Perry Marshall. I will discuss how you can leverage the 80/20 rule even further in your engineering career and life.
Here are the key points discussed on 80/20 Sales and Marketing:
- Back in the late 1800s, an Italian economist and engineer, Vilfredo Pareto, discovered that many distributions of characteristics follow a pattern of 80%-20%.
- When you look at your career and life overall, a few things are important, but most are not.
- 20 % of the things that you do on a daily basis are driving 80% of your results that you are getting in your life.
- If you can figure out what the 20% of the things are that are driving your results, and you do more of them, or do them better, then there will be major improvements in your career and life.
- If you cut out the things that are in the 80%, it will boost productivity, make you more money and make you happier.
- The 80/20 rule is fractal. That means that 20 % of that 20 % are driving the best 80 % of your results. 20% of 20% =4. That means that 4% of what you are doing is giving you absolute maximum results. That’s a data point that is critically important to you in your career and life.
- If you sell more to your best customers, you will make so much more money.
- Ask yourself what you are good at in your career and how you can leverage those skills even more?
- Look for low hanging fruit everywhere in your life and career. What can you change easily and get much bigger results? What can you tweak that is already working and get multiplied results?
80% of the results come from 20% of the causes. A few things are important; most are not. ― Richard Koch
More in this episode…
In the Take Action Today segment of the show, I will give you a great example of how you can leverage the 80/20 rule and save yourself time every day.
The 80/20 principle – that 80 percent of result flow from just 20 percent of the causes – is the one true principle of highly effective people. ― Richard Koch
Books mentioned in this session include:
Resources and links mentioned in this session include:
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How can I leverage the 80/20 rule?
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To your success,
Anthony Fasano, PE, LEED AP
Engineering Management Institute
Author of Engineer Your Own Success