My Review 5/5

This is a great book. On par with Napoleon Hill’s Think and Grow Rich. There are so many concepts and I started my notes a bit late. Will have to listen to this one again.

The greatest lie in life is that it’s fair. This book is the study of how identifying the 20% or minority of causes that generate the majority of results. Italian economist Pareto discovered this principle in looking at large populations and discovered that wealth is not progressive. 20% of the population tends to hold 80% of the wealth.

Understanding this can lead us to focus on what is our 20% contribution of wealth and how best to leverage that in our lives. Most importantly is building a partnership of other like-minded individuals who contribute their 20% and covers your 80%. These groups of individuals can generate much wealth with any idea.

The best ideas create a new market with an old concept. Think ebay or amazon which created a new online market on top of an old idea (bidding, books respectively). Young talent is the most cost effective way to attain wealth building. Make sure you pay top talent or it will leave.

Sure sign of stagnation is best employees leaving in a block. 1 or 2 is understandable, but more than that and there are forces at work that are stifling your best. Equity investments are the most important form of wealth building.

Date Read

2016/04/28

Date Added

2016/05/31

Goodreads book information

The 80/20 Principle: The Secret of Achieving More with Less by Richard Koch

https://www.goodreads.com/book/show/20918035

Bookshelves: business, personal-development, read-again

Author’s Note

Initial md Generated using https://github.com/jsr6720/goodreads-csv-to-md

Richard Koch, The 80/20 Principle: The Secret of Achieving More with Less, Richard Aspel Bolinda Audio 2014 (MP3 CD)1

Significant revisions

tags: 2016, book, review, Koch, business, personal-development, read-again

  • Apr 22nd, 2024 Converted to jekyll markdown format and copied to personal site
  • Apr 28th, 2016 Originally published on goodreads

EOF/Footnotes

  1. ISBN: =”1486213421” ↩