Richard Koch us an author, entrepreneur, and investor. As a former management consultant and entrepreneur, he has authored more than twenty books on business and ideas. Koch is best known for sharing how to apply the Pareto principle to life. Here is a look at some of the most incredible Richard Koch quotes to be familiar with.
“80% of the results come from 20% of the causes. A few things are important; most are not.”
“Celebrate exceptional productivity, rather than raise average efforts.”
“Chose the niche that you enjoy, where you can excel and stand a chance of becoming and acknowledged leader.”
“Conventional wisdom is not to put all of your eggs in one basket. 80/20 wisdom is to choose a basket carefully, load all your eggs into it, and then watch it like a hawk.”
“Creation occurs when ideas and individuals collide and collude.”
“Few people take objectives really seriously. They put average effort into too many things, rather than superior thought and effort into a few important things. People who achieve the most are selective as well as determined.”
“Hard work leads to low returns. Insight and doing what we want lead to high returns.”
“I make it a personal rule never to do anything that I don’t really care about. It is surprising how much this cuts out.”
“If a species is diverse, it can survive and prosper. If a species is homogeneous, it is vulnerable.”
“If we did realize the difference between the vital few and the trivial many in all aspects of our lives, and if we did something about it, we could multiply anything that we valued.”
“If we want to sum up the theory of evolution by natural selection in two words, which have great relevance for all societies and businesses, we should simply remember: diversity works.”
“In business the 80/20 principle is behind any innovation, any extra value. It is an entrepreneurial principle, a formula for value creation utilized not only by entrepreneurs, but by most managers and organizations.”
“Instead of expending time to train yourself not to be afraid of snakes, avoid them altogether.”
“It is not shortage of time that should worry us, but the tendency for the majority of time to be spent in low-quality ways.”
“It is not that we are short of time….It is the way that we treat time, even the way that we think about it. A time revolution..is the fastest way to make a giant leap in both happiness and effectiveness.”
“It may be that you will be happiest in the rat race; perhaps, like me, you are basically a rat.”
“Laziness is the road to progress, but only when it is allied to intelligent thought and high ambition.”
"The competitive mind-set requires insecurity & open mind. Struggle, danger, and frequent death. It requires entrepreneurs."
— Richard Koch pic.twitter.com/F8bLBiu06t
— Mohammad Khaleghi (@m9khaleghi) November 25, 2016
“Make the choice that you want to be happy. You owe it to yourself and you owe it to other people too.”
“Marketing, and the whole firm, should devote extraordinary endeavor towards delighting, keeping for ever and expanding the sales to the 20 per cent of customers who provide 80 per cent.”
“Most of us don’t work out what we want. And most of us end up with lopsided lives as a result.”
“Only do the thing we are best at doing and enjoy most.”
“Our current use of time is not rational. There is therefore no point in seeking marginal improvements in how we spend our time. We need to go back to the drawing board and overturn all our assumptions about time.”
“Progress is personal; it comes from individuals demanding more of themselves and everyone else.”
“Strive for excellence in few things, rather than good performance in many.”
“The few things that work fantastically well should be identified, cultivated, nurtured, and multiplied.”
“The key is to work out the few things that are really important, and the few methods that will give us what we really want.”
“The road to hell is paved with the pursuit of volume. Volume leads to marginal products, marginal customers, and greatly increased managerial complexity.”
“There is no rush. If we think intelligently about what we can achieve with our time, we can be relaxed, even lazy. In fact, being lazy – having plenty of time to think – may actually be a precondition for achieving a great deal.”
“There is no shortage of time. In fact, we are positively awash with it. We only make good use of 20 per cent of our time…. The 80/20 principle says that if we doubled our time on the top 20% of activities, we could work a two-day week and achieve 60 per cent more than now.”
“Those who seize the day become seriously rich.”
“To be strategic is to concentrate on what is important, on those few objectives that can give us a comparative advantage, on what is important to us rather than others, and to plan and execute the resulting plan with determination and steadfastness.”
“To get useful new ideas, we must go beyond our immediate circle and make contact with distant parts of the social system.”
“Use all the willpower at your disposal to make yourself happy. Construct the right stories about yourself – and believe them!”
“We tend to think of innovation as difficult, but with the creative use of The 80/20 Principle innovation can be both easy and fun.”
“What could you achieve that would make you proud, that no one else could do with the same ease?”
Here is a full interview with Richard Koch as he discusses the 80/20 Principle with almost a million copies sold. Working with some of the most successful companies in the market, Koch is a former strategy consultant for the Boston Consulting Group.
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