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Did you know, for example, that 20 percent of customers account for 80 percent of revenues? That 20 percent of our time accounts for 80 percent of the work we accomplish? But by concentrating on those things that do, we can unlock the enormous potential of the magic 20 percent, and transform our effectiveness in our jobs, our careers, our businesses, and our lives. How to Think Time Revolution. With a Little Help from Our Friends. Money Money Money. The Seven Habits of Happiness. The simplification and reduction in the number of products rapidly restored the profits.

Because business is wasteful and because complexity and waste feed on each other, a simple business will always be more successful than a complex one. The large and simple business is the best. The way to create something extraordinary is to create something simple. Progress requires simplicity; simplicity requires ruthlessness. This could explain why simplicity is as rare as it is beautiful.

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At a minimum, firms should identify the top 20 percent to get a clear picture of desirable prospects for future growth. The most important decisions are often made by default. You need intuition and perspicacity; you need to ask the right questions, instead of getting the right answers to the wrong questions. If what you decided on turns out to be ineffective, change your mind sooner rather than later. Do not be afraid to experiment and do not stick with losing solutions.

Do not fight the market. When something works, double and triple your investment in it. Investors in capital risk know this.

Most of the investments in their portfolio are disappointing to them, but they are bought back through a handful of extraordinary investments whose yield far exceeds the debts. Drastically reduce unprofitable stocks. Reduce the number of variants, export the problem and the cost of stock management to other links in the value chain.

In every case, focus is the motor behind accomplishing progress: focusing on the most important customers, on a simple range of products, on simplified management and delivery.

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

All resources are limited and should be deployed where they reap the most rewards. The fact is that it has been put to the test much more often in the world of commercial business than anywhere else. The most precious part of life lies in the inner and outer life of individuals, in personal relationships as well as the interactions and values of society. You can work less while earning more and getting more out of life. There is however, one tiny obligation: you have to be the one who does the thinking. You should adapt and develop the contents of this book in relation to your own end purposes.

This requires exceptional intuition, reflection and introspection. To move forward, you need to identify under-optimisation and waste that is inherent to life, starting with your daily life, and then do something about it. It believes that life is meant to be enjoyed and that achievement is a by-product of interest, joy and the desire for future happiness.

This may seem unquestionable, but most individuals do not strive to do the simple things that can lead them to happiness, even when they know what they are. Most human beings are not optimists, and even those that are do not take the trouble to work out a plan to make their lives better in the future. Trying to accomplish something worthwhile without deriving any pleasure from it is very hard and always leads to waste.

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Progress is a duty. If we do not believe in the possibility of progress, we can never improve our universe. We need to apply progress to the quality of our lives, both individually and collectively. Progress can help you climb several steps of the great staircase. Nothing is the result of a single cause. Nothing is inevitable. And nothing is ever balanced or immutable.

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Few people truly know what causes anything. The balance of a situation can be greatly modified by a minor action. Do not look for causes, above all the causes of failures. Imagine, then create the conditions that will make you both happy and productive. We have been conditioned to think that great ambition goes hand in hand with hyperactivity, long hours of work, a ruthless nature, sacrifice of oneself and others.

In short, the rat race. A much more attractive and at least equally possible combination is that of extreme ambition and a confident, relaxed and civilised manner. Think Archimedes sitting in his bath tub or Newton sitting under his apple tree. Intuition flows when we are relaxed and we feel good about ourselves. We let things happen to us instead of moulding our own lives. Everyone can accomplish something valuable.

We can succeed, not with effort, but by first discovering what is the appropriate thing to accomplish. Few people devote enough time to thinking about and cultivating their own happiness. Money that is not spent can be invested and, through the magic of compound interest, it will multiply.

But happiness that is not spent today will not lead to any additional happiness tomorrow. Happiness, like the mind, will atrophy if you do not stimulate it. Our society evaluates the quality and the role of time poorly. Hundreds of overworked executives try to find freedom through time management. But all they are doing is tinkering around with their schedule.

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Our attitude towards time is what needs to change. Almost everyone, from the busiest of people to the idlest of people, needs a time revolution. What causes the problem and also represents an opportunity to be seized, is the way we handle time. The time revolution constitutes the fastest way to take a giant step in the direction of happiness and efficiency. If the use of your time is unbalanced, a time revolution is required. And you probably need to change your concept of time. It is not shortage of time that should worry us, but the tendency to spend the majority of time in low-quality ways. Time always comes back around, bringing with it the opportunity to learn, to strengthen precious relationships, to create a better product or output and to add value to life.

And to be sure to feed it, develop it, extend it, amplify it and deepen it, in order to improve our efficiency, our value and our happiness. Reflect upon what you want in life. If you are happier when you are not at work, you should work less or change jobs. Conversely, if you are generally happier at work than anywhere else, work more or change your non-professional life. You should definitely have a clear idea of what you like to do and you should try to integrate it into your professional life.

Figure 36 illustrates the choice to make. Which box describes you best? Most people have a strange idea about money. They give it much more importance than it actually has. But they believe that it is also difficult to obtain, which is not really the case.

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How do I get money? Do something you love. If you satisfy other people, they will generally pay you well in return. Money is easy to multiply As soon as you have enough excess money, you can easily multiply it. Save and invest. Money is overrated. Money can bring you happiness, but only in the measure whereby you use it to become what you were made to do.

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You could also get a lot of value and happiness from a simpler and less expensive lifestyle. It is vital that you focus your attention on what comes easily to you.