THE 80/20 PRINCIPLE by Richard Koch | Core Message

foreign [Music] ly read the 80 20 principle by Richard Kosh the 80 20 principle states that 80 of what you want comes from 20 of what you do the 80 20 principle is most evident in business if you build five products one product will generate more profit than the other four products combined for example the Apple iPhone generates more profit than MacBooks iPads watches and airpods combined but few people realize how prevalent the 80 20 principle is in their personal lives consider your free time the time you spend with one really close friend is more emotionally rewarding than quadruple the time spent with one really good friend listening to One really good podcast or watching One really good YouTube video provides more enjoyment and insight than four other podcaster videos of the same length in one vacation you take this year will provide you with as many memories as four other vacations combined now consider your work time of the 10 hours you could work tomorrow two hours will be more focused and productive than the other eight hours of the five projects you could work on this week one will contribute more to a sense of achievement and progress at the end of the week than four other projects combined although Richard Kosh says that when you understand the 80 20 principle you realize that about a fifth of your time is likely to give you four-fifths of your achievement or results and four-fifths of your happiness to bring this principle to life imagine each area of your life your relationships your career your Fitness contains five slot machines the slot machines represent activities you could spend your time doing of the five slot machines you could play Four will slowly take your money but one will multiply your money for every one dollar you put into that one special slot machine you get an average of four dollars out if such a slot machine existed you'd think that people would dedicate most their time to playing it but sadly most people don't because they are too busy to pause and consider so 20 of activities that yield eighty percent of the results if you pause to consider the 20 of your time and activity that yields eighty percent of your happiness and success and spend just forty percent of your time doing those activities you will experience a hundred and sixty percent of the happiness and success you enjoy today first identify your 20 percent when you do a 20 activity you get more energy out of it than you put into it with this characteristic in mind let's explore your past present and future for experiences that produce a net energy increase take out a blank piece of paper and create three columns with the header's past present and future in the past column write down anything that comes to mind when you think back to projects you're proud of when I reflect on the videos I've created I realize that the satisfaction I get out of making the videos far exceeds the pain required to make the videos when you invest time and energy in hard but rewarding projects like the past projects you're proud of you will boost your overall sense of achievement and fulfillment next think of people you've learned the most from of all the podcasts I've listened to roughly 80 of the insights I've had while listening to podcasts have come from just two podcasts the Tim Ferriss Show and The huberman Lab podcast if I use more of my podcast listening time to go back through their catalog of podcasts I'm likely to experience more insight than if I just spent time listening to random podcasts next think of people you've enjoyed talking to you may consider a friend from college used to talk with for hours but I've lost touch with putting effort into renewing that friendship and restarting those great conversations could yield huge happiness returns next think of enduring interests interests that have stood the test of time I've Loved reading personal development books and business books since I was a teenager so I knew it was a safe place to invest time and effort and build a YouTube channel around that interest because that interest will likely remain for the rest of my life and lastly think of experiences you've enjoyed more than you expected if you took a public speaking course and found that you enjoyed it much more than you thought you would or you were far better at it than you thought you would be making time to practice your public speaking skills and give more presentations at work could pay off in a huge way now after you've identified at least five high return activities in your past column populate the present column by first thinking of work that sustains you what tasks do you find hard to stop once you've started them what projects do you most look forward to working on again tomorrow next think of people you enjoy being around the most who do you trust respect and have a lot in common with next think of exercises you regularly do what exercises make you feel the best afterward 50 minutes on the stationary bike at a heart rate of around 130 beats per minute and kettlebell swings in my garage yield the most energy for me in the shortest amount of time after realizing this I no longer need to waste an hour exercising every morning and just need 20 minutes to get the results I want from exercise and lastly think of the food you regularly eat of all the food you consume what do you enjoy and consistently feel good after eating I find that steamed broccoli with some spice and avocado with some salt are both delicious and make me feel good afterward by having more steamed broccoli and avocados on my fridge I'm less likely to binge on unhealthy food and go into food coma now after you've populated at least five items in the present column move to the Future column and write down anything that comes to mind when you think of events you're most looking forward to this might include a game night with friends a local competition for your favorite hobby the conference a sporting event or time off work next month to work on a passion project after each event comes and goes determine if it was better than you expected replicating better than expected events is a sure way to add 20 activities to your life now that you have a list of 20 activities in your past present and future columns try to double your time doing those activities to experience 160 percent of the happiness and success you enjoy today by stealing time away from 80 activities and 80 activity yields less reward than the effort you put into it there are two categories of activity where you can find an abundance of 80 activities things people ask you to do and things other people could easily do for you when someone asks you to attend an event or meeting you're not particularly excited about or they need help with something you're not thrilled to help them do like moving finishing a project or volunteering for a cause you don't care about tell them sorry I need to make time for insert your 20 activity or agree to help in a different way that dramatically shortens your time commitment my book summary of The Art of saying no includes many helpful tools and techniques in this area the second category of 80 activity that you can steal time from to invest in 20 activities are things people could easily do for you as you do tasks at home and at work that you don't enjoy Pawn to the question could 80 of this task be easily and cheaply done by someone else there are services for hire for just about every mundane thing you do house cleaning Lawn Care document editing data entry making meeting minutes doing research grocery shopping and more if you're hesitant about giving something to someone because you don't want to spend the money or they might screwed up remember that whatever time you free up you get to quadruple the value of that time since you'll be investing that time in 20 activities that yield 80 results and remember you don't need to give away all of it just give away 80 and do the critical twenty percent that requires your judgment and Final Touch in the end without careful thought eighty percent of your time will be spent doing things that yield very little happiness or success by taking time to identify the twenty percent of things whose reward is greater than the effort and then saying no to more requests and getting more people to do the mundane but necessary things in your life you can double your time spent on 20 activities and generate 160 more happiness and success as Richard Kosh says it is not shortage of time that should worry us but the tendency for the majority of time to be spent in low quality ways that was the core message that I gathered from the 80 20 principle by Richard Kosh I think I've read parts of this book every year of the last 10 years because it's so vital to helping me focus on what matters I highly recommend it if you would like a one-page PDF summary of insights that I gathered from this book just click the link below and I'll be happy to email it to you if you already subscribed to the free productivity game email newsletter this PDF is sitting in your inbox if you like this video please share it and as always thanks for watching and have yourself a productive week

Channel: Productivity Game

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Id: 2YDR5-Mij1c

Length: 8min 34sec (514 seconds)

Published: Sun Nov 27 2022