Kennesaw, GA – Richard Koch is a Brit that I have written about before. https://en.wikipedia.org/wiki/Richard_Koch
“Everything you want should be yours: the type of work you want; the relationships you need; the social, mental, and aesthetic stimulation that will make you happy and fulfilled; the money you require for the lifestyle that is appropriate to you; and any requirement that you may (or may not) have for achievement or service to others. If you don’t aim for it all, you’ll never get it all. To aim for it requires that you know what you want.” – Richard Koch
This post is written for a special person who will know that this article is for them.
Here are his 10 Rules for Career Success
- Specialize. Develop core, niche Skills
- Choose a niche you enjoy. Become an expert
- Knowledge in your niche IS power
- Identify and fanatically serve your best customers.
- Identify the 20% Effort that brings the 80% Results.
- Seek and Learn from the very best.
- Find Self-employment early in your career.
- Employ as many NET value creators as possible.
- Outsource everything but your core skills
- Exploit capital leverage and manage costs
Good luck with your career. Let me know if I can help in anyway.
Atlanta- While attending a NetApp executive briefing today in Atlanta, I caught myself daydreaming about how senior leaders can apply the Pareto Principle, or 80/20 Rule to make important organization decisions.
Using these 5 questions as guidelines, what key decisions can help your organization become more agile?
1. Improve employee productivity by eliminating or at least reducing activities that do not touch the customer.
2. Seek ways to reduce time to market bottlenecks in the supply chain. Study your “from Quote to Cash” decision tree to reduce complexity.
3. Be relentless to improve quality. Remember to focus on speed and simplicity.
4. Be able to quickly recover from unforeseen events. Don’t wait for a disaster, predict it.
5. Apply risk management and leverage proven architectures instead of implementing “cutting edge” technology that has not had time for the production bugs to be worked out yet.
How you apply 80/20 thinking? List the activities to be addressed, stack rank them and focus on a laser on the top 20%. Knock those activities out and then re-sort the remaining items on the list.
Let me know how it goes.
Remember to encourage excellence in everyone that you interact.
For a more detailed video segment on the 80/20 principle, click here:
Click below for Forbes.com’s approach to the 80/20 concept in the business realm:
Happy New Year!
I received a note last week from one of my favorite authors who has had a huge influence on my business career. His name is Richard Koch and I’ve recommended his books to every team I have led and you will absolutely take away a ton of ideas from his several books.
Here is his site and a couple of interviews on his work with Pareto’s 80/20 Principle
Until next time, Encourage Excellence!