Posted in My Tales

Koch

80-20_rule

Turns out there was a wayward kid who caused trouble all the time. He was eventually expelled from school and life forced him to get a job. He was lucky to find a clerical job which paid ok and yeah. But unfortunately, the job was boring and we all know when shit is boring time freezes. So he decided to read science magazines on his ‘boring work hours’ and eventually developed a passion for science. The boy here is Albert Einstein, but that’s a story for another day…

Here’s todays story,

It would surprise you to know that results are usually effected or affected by the minority. Contrary to the popular notion that maximum effort begets maximum results, which may as well be true, but who really knows this things? I happen to have noticed a book by Richard Roch dubbed The 80/20 Principle and thought to myself, what if this is what someone out there need to know about? What if am the one to deliver it to them? And so I decided to write something on it. I hope you learn.

A while back, my good lecturer and a mentor pitched me the theory of ‘principle of least effort’ and at first I thought, well it’s just one of the many theories out there. What I did not know but now know, is that it works. The least effort principle is but a glimpse on the Pareto law or in this case, the 80/20 principle. Vilfredo Pareto was an economist who sought out to study the patterns of success attributed to systematic implications. He went ahead to find out that the whole system is imbalance, hence the 80/20 thing. It was only right to name the discovery after him.

So what is the 80/20 principle?

According to the book, it is scientific law which says in essence that 80 percent of results or output come from only 20 percent of causes or effort. And it has been proven to work in business and economics time and again. It implies that most of anything done is attributed to the few in a group. The minority resources enforce the majority output. According to me, it’s just an awesome theory that I’d like to try. But here’s the whole picture first.

In a semester, you have say, six units. In this units you have say two which you are really good at and you would perform exponentially without even trying. When the examinations are carried out, in most cases you would score average marks on the other four units and higher marks on the two. They are what we call boosters. In compilation of totals, the average marks are equally high and the grade thereafter is a welcomed one right? See this is majorly a contribution of the two subjects with high score. Two here being the minority number. We getting somewhere?

Another is an insurance company. They probably have a lot of clientele ranging from private car owners (usually the majority) to public transport companies. The car owners may decide to insure one or two cars at most three. The public transport companies who are usually minority in number, usually insure more than fifty vehicles which if my math is right, would bring the chunk of the business. Which means more attention is diverted to them. You don’t want to lose your business.

See this is no call for laziness of any kind, rather one for smartness. Many a times you’ve probably heard or been told to work hard and blah blah. It’s never only about hard work sometimes. I’m not saying don’t listen to such voices but the smart thing to do is to be smart. Reading from Donald Trump’s school of thought, hard work is overrated. Working smart means diverting most of your effort to what you are good at. Be it that subject, that business, that talent. You perfect your strengths, you devour your weaknesses. This is a simple strategy and as Sun Tzu says, a great conqueror needs a good strategy. Time is important, when used wisely its productive.

My pitch!

Time is a gentle God – Sophocles

We waste out time often dwelling in matters that are neither here or there. They might be matters found or considered important but in reality they are not. In life it’s very rare for one to not know what is really of importance in their lives. But we’d rather please the universe and society acclaimed pedestal for certain situations that we don’t consider the minor things. Brother Abok used to shout at us ever so often on the assembly grounds ‘take care of the little foxes, the little foxes which spoil the vineyard’, makes sense every day. In as much as the minor things can bring and often do bring majority outcome, the same can be contrary. The small things can also lead to major distraction or loss therein.

The owner of KFC (example for everything) spent majority of his lifetime doing a job he didn’t like and earning very mediocre wages. He retired and was left with nothing to show of. But, the remaining years of his life he focused on his passion, his strength and came up with the best chicken recipe which resulted to an international brand. Its’ no coincidence.

So you there, focus is good. But focus on the price. Focus on what is good for you. Savvy? I hope I made sense here. Bye!

 

 

 

 

 

 

 

 

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