The first
set of books on the Personal MBA ™ reading list is all about self-knowledge,
productivity and effectiveness, http://personalmba.com/best-business-books/.
On the groupCreate project, we’re now reading the fourth book in this section of seven. At just about half-way through the list, I can say that this section alone has already transformed my future. I can only imagine the goodness to come! Thank you, Josh Kaufman, for putting this list together.
The current book is The 80/20 Principle, by Richard Koch. Even though I already had a grasp of the basic 80/20 concept, this book startled me awake in how to apply the principle in novel ways.
Richard Koch has a summary of 80/20 insights for individuals (pp 142-143 paperback) that is just wonderful. One key idea is that 80 percent of achievement and happiness takes place in 20 percent of our time—and that those peaks can be expanded greatly. He suggests examining our lives for our “happiness islands” and focus on multiplying them.
One of my favorite re-thinks was the author’s declaration that too much analysis was harmful. I enjoy research, but have found that there is a point of diminishing returns when researching for the benefit of a specific project. (Some years ago I knew WAY TOO MUCH about computer monitors.) What I learned from this book was a practical way of drawing the line on analysis.
For example:
-
Take guesses first, then analyze just enough to find out if you are on the right
track or not
- For
important decisions, gather 80 percent of the data and perform 80 percent of
the relevant analyses in the first 20 percent of the time available, then make
a decision 100 percent of the time and act decisively as if you were 100 percent
confident that the decision is right
- If what
you have decided isn’t working, change your mind early rather than late
- When
something is working well, double and redouble your bets
- Schedule time to step back and ask yourself what you are missing
He also discusses 80/20 thinking as unconventional, and gives advice about how to apply it. Here’s the quote that crystallized the approach for me:
“Our objective, as 80/20 thinkers, is to leave action behind, do some quiet thinking, mine a few small pieces of precious insight, and then act: selectively, on a few objectives and a narrow front, decisively and impressively, to produce terrific results with as little energy and as few resources as possible.” (p. 137, paperbook)
Another realization was his point that few decisions really matter, but those that do matter a great deal. That 20 percent of decisions (e.g. what kind of work to do, who to spend time with, lifestyle), have an enormous impact on the whole lifespan. It reminded me of the idea that when you alter course just a few degrees early on in a sea journey, you can end up on a different continent.
I’ve applied the ideas in this book by:
- Using
time eccentrically (I definitely want to be part of his “Time Revolution”)
- Creating
lists that go in my decision-making and happiness-making folders, to help me
make better decisions
- Letting
go of caring too much about causes, and shifting my focus to results
- Thinking
a great deal about the few decisions that really matter
