The Critical Few

This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…

What does “The Critical Few” mean?

“Typically, causes, inputs, or effort divide into two categories: (1) the majority, that have little impact, and (2) a small minority, that have a major, dominant impact.” — Richard Koch, author of The 80/20 Principle

Key Points:

• The Critical Few is also known as Pareto’s principle, or the 80-20 rule, which explains that in many areas of life 20% of the input produces 80% of the output, and viceversa.
• You can achieve great results by focusing on the critical inputs that produce most of the outputs that you want.
• The same can be applied for the results that you don’t want. Sometimes eliminating certain sources of input is the smart choice, because they are significant Opportunity Costs.
• Find the inputs that produce the desired outputs and focus on them. Weed out the rest.

Questions for Consideration:

• What 20% of inputs are causing 80% of your desired results, and how can you spend more time and energy doing those things?
• What 20% of inputs are causing most of your frustrations and problem, and how can you eliminate them quickly?

Share this concept: http://book.personalmba.com/critical-few/

True leaders aren’t made by business schools – they make themselves, seeking out the knowledge, skills, and experiences they need to succeed. Read this book and you will learn in one week the principles it takes most business professionals a lifetime to master. Buy The Personal MBA by Josh Kaufman now.