For a salesman, it’s the selling skill (presentation, talking) that gets him the most rewards, so if you are a salesman, to focus more on your selling skill rather than administration skill.īook Review on why I read this book & you should read this too If you are an employee: Think of skill set that gets you the most excitement or rewards or achievements. Though he is multi-billionaires but until today, he doesn’t invest in everything he can buy with his money but rather to invest in select few, those businesses that he understands. To be selective and do things that you enjoy.įor example: Warren Buffet. Therefore, being able to identify the most important products or services within the company, the company can better focus (and further exploit more) on this revenue generating product and either stop the other non-generating revenue product (for cost reduction) or focus less on them. For Apple, iPhone is item that generate the most money as well as the main leading product that can trigger consumer to spend more on Apple related products. ![]() Think of items (products or services) that generate the most revenue, from the product and services catalogue, typically only 20% of them are generating the most revenue.įor example: Apple. The method, which also known as Pareto principle can work for companies and individuals. Richard shared how you can use 80/20 principle to turn back the situation so that you can be on the 2nd category where you spend 20% efforts but generate 80% results. Many of us unfortunately fall into the 1st category where we spend 80% efforts that generates only 20% results and this is the result of many unhappiness in our life, in our work and everywhere else.
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