Three Success Principles by Fred Lowery

THREE SUCCESS PRINCIPLES

1.THE PARETO (PRET-TO) PRINCIPLE

VILFREDO PARETO, a turn of the centruy economist and sociologist, discovered that for most manufacturing firms a small number of items (less than 10%) accounted for 90% of the total value of their inventory.

This is the principle of the vital few. An organization doesn't need to be better at everything to be outstanding. It only needs to be better at the vital few things.

It means that the hardest working people may not be the msot effective people. It is to work smarter not necessarily harder.

e.g.Federal Express concentrated on time. Absolute overnight delivery.

e.g.AT&T in 1983 took 22 days to manufacture a telephone. By focusing on a few vital areas of manufacturing, they cut the time to 58 minutes.

THE FIRST THING is to identify the top 10 priorities and then concentrate on the top two things.

So the top two things and you will get 80% of everything you need.

Ignore the top two and the bottom 8 will give you 20% of everything you need.

NOTE:The Bottom 8 will never give you more than 20%.

2.THE PLUS 10% PRINCIPLE (BARRIE RICHARDSON)

The difference between being ordinary and extraordinary is not a huge increment, but only a small amount.

High performing organizations enter the winner's circle not by superhuman achievement but by doing 10% better in significant areas.

e.g.THE DIFFERENCE BETWEEN HOT WATER AND BOILING WATER IS ONLY ONE DEGREE. Most people are 210 or ...


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