In the original Chicken Soup for the Soul, Jack Canfield tells the story of Monty, who was the son of an itinerant horse trainer of little means. During his senior year he was assigned a writing project to describe what he wanted to be when he grew up. His seven-page essay minutely detailed the 200-acre ranch he wanted to own. It included a diagram of the ranch and a detailed floor plan of his 4,000 square foot home.
Despite the passion and effort Monty put into his paper, he received it back with a large “F” written on it and a note to see the teacher after class. The teacher told Monty that the reason he had given him that grade was because his paper was unrealistic. He went on to cite all of the reasons why, and told Monty that if he would rewrite the paper with a more realistic goal, he would reconsider the grade. After considering it for a week, the young man turned in the same paper with no changes, along with the remark, “You can keep the F and I’ll keep my dream.”
The conclusion of the true story has the teacher bringing 30 students for a summer campout at the 200-acre ranch of the now grown (and successful) Monty who lives in his 4,000 square foot dream home.
Some Great Quotes About Success
Winning is not a sometime thing; it's an all time thing. You don't win once in a while, you don't do things right once in a while, you do them right all the time. Winning is habit. Unfortunately, so is losing.
Vince Lombardi
Its' a funny thing about life: If you refuse to accept anything but the best, you often get it.
Somerset W. Maugham
He is able who thinks he is able.
Edmund Burke
One of the greatest discoveries a man makes, one of his great surprises, is to find he can do what he was afraid he couldn't do.
Henry Ford
No one ever attains very eminent success by simply doing what is required of him; it is the amount and excellence of what is over and above the required that determines the greatness of ultimate distinction.
Be Different and Make a Difference!
Charles K. Adams
The most important single ingredient in the formula of success is knowing how to get along with people.
Theodore Roosevelt
Success is a matter of adjusting one's efforts to obstacles and one's abilities to a service needed by others.
Henry Ford
The ability to form friendship, to make people believe in you and trust in you, is one of the few absolutely fundamental qualities of success.
John J. Meguirk
We must walk consciously only part way toward our goal, and then leap in the dark to our success.
Henry D. Thoreau
Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.
he key to success is not through achievement, but through enthusiasm.
Malcolm Forbes
Success is doing, not wishing.
Take Action!
Tom Hopkins
Success seems to be largely a matter of hanging on after others have let go.
William Feather
Persistent people begin their success where others end in failures.
Edward Eggleston
Most people search high and wide for the keys to success. If they only knew, the key to their dreams lies within.
George W. Carver
Success is how high you bounce when you hit bottom.
Failure As a Stepping Stone To Success
George S. Patton
Success is that old ABC – ability, breaks and courage.
Charles Luckman
One very important ingredient of success is a good, wide-awake, persistent, tireless enemy.
Frank B. Shutts
Success has always been a great liar.
Friedrich Nietzsche
Try not to become a man of success but rather to become a man of value.
Vince Lombardi
Its' a funny thing about life: If you refuse to accept anything but the best, you often get it.
Somerset W. Maugham
He is able who thinks he is able.
Edmund Burke
One of the greatest discoveries a man makes, one of his great surprises, is to find he can do what he was afraid he couldn't do.
Henry Ford
No one ever attains very eminent success by simply doing what is required of him; it is the amount and excellence of what is over and above the required that determines the greatness of ultimate distinction.
Be Different and Make a Difference!
Charles K. Adams
The most important single ingredient in the formula of success is knowing how to get along with people.
Theodore Roosevelt
Success is a matter of adjusting one's efforts to obstacles and one's abilities to a service needed by others.
Henry Ford
The ability to form friendship, to make people believe in you and trust in you, is one of the few absolutely fundamental qualities of success.
John J. Meguirk
We must walk consciously only part way toward our goal, and then leap in the dark to our success.
Henry D. Thoreau
Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.
he key to success is not through achievement, but through enthusiasm.
Malcolm Forbes
Success is doing, not wishing.
Take Action!
Tom Hopkins
Success seems to be largely a matter of hanging on after others have let go.
William Feather
Persistent people begin their success where others end in failures.
Edward Eggleston
Most people search high and wide for the keys to success. If they only knew, the key to their dreams lies within.
George W. Carver
Success is how high you bounce when you hit bottom.
Failure As a Stepping Stone To Success
George S. Patton
Success is that old ABC – ability, breaks and courage.
Charles Luckman
One very important ingredient of success is a good, wide-awake, persistent, tireless enemy.
Frank B. Shutts
Success has always been a great liar.
Friedrich Nietzsche
Try not to become a man of success but rather to become a man of value.
What is 80/20 Principle?
The 80/20 Principle asserts that there is an inbuilt imbalance between inputs and outputs, causes and consequences, and effort and result. It states that a minority of causes, inputs or effort usually lead to a majority of the result, outputs or rewards. A few things are important; most are not.
A good benchmark for this imbalance is provided by the 80/20 relationship: a typical pattern shows that 80% of outputs result from 20% of inputs; that 80% of consequences flow from 20% of causes; or that 80% of results come from 20% of effort. It reflects relationships in nature, which are an intricate mixture or order and disorder, or regularity and irregularity.
The 80/20 Principle involves a static breakdown of causes at any one time, as opposite to change over time. "The art of using the 80/20 Principle is to identify which way the grain of reality is currently running and exploit that as much as possible".
The 80/20 numbers are only a metaphor and a useful benchmark. The real relationship may be more or less unbalanced than 80/20. The 80/20 Principle asserts, however, that in most cases the relationship is very likely to be unbalanced and close to 80/20.
The 80/20 Principle is extremely versatile. "It can be profitably applied to any industry and any organization, any function within an organization and any individual job". It helps you identify all the forces beneath the surface, so that you can give maximum power to the most productive forces and stop the negative influences.
Achieving Progress by Applying 80/20 Principle
80/20 Principle is inherently optimistic because it reveals a state of affairs that is seriously below what it should be and shows the direction towards a better state. To achieve progress and multiply your output, you must give power to the 20% of resources that really matter in terms of achievement, and get the remaining 80% up to a reasonable level. "Progress takes you to a new and much higher level. But, even at this level, there will still typically be an 80/20 distribution of outputs/inputs. So you can progress again to a much higher level."
80/20 Analysis
80/20 Analysis examines the relationships between two sets of comparable data and can be used to change the relationships it describes. One its use is to discover the key causes of the relationship, the 20% of inputs that lead to 80% of outputs, and put your resources behind the best-performing efforts. The second main use of 80/20 Analysis is to improve the effectiveness of the underperfroming 80% of inputs that contribute only 20% of the output.
80/20 Analysis should be applied carefully, in a systemic way, as opposite to linear thinking that may lead to misunderstanding of the 80/20 Principle and its potential abuses. "Don't be seduced into thinking that the variable that everyone else is looking at... is what really matters. This is linear thinking. The most valuable insight from 80/20 Analysis will always come from examining non-linear relationships that others are neglecting."
80/20 Thinking
80/20 Thinking, applied to your daily life, can help you change behavior and to concentrate on the most important 20%. Action resulting from 80/20 Thinking should lead you to achieve much more with much less. To engage in 80/20 Thinking, you must constantly ask yourself: what is the 20% that is leading to 80%? Never assume that you automatically know what the answer is, but take some time to think creatively about it. "For every ounce of insight generated quantitatively, there must be many pounds of insight arrived at intuitively and impressionistically."
80/20 Principle and Your Business
The key theme of the 80/20 Principle applied to business is how to create the greatest stakeholder value and generate most money with the least expenditure of assets and efforts. Any individual business can gain immensely through practical application of this Principle. The most important use of the 80/20 Principle is "to isolate where you are really making the profits and, just as important, where you are loosing money. Every business person thinks they know this already, and nearly all are wrong. If they had the right picture, their whole business would be transformed".
The game is to spot the few places where you are making great surpluses – be that a product, a market, a customer type, a technology, a distribution channel, a department, a country, a type of transaction, an employee, or a team – and to maximize them; and to identify the places where you are loosing and get out.
80/20 Principle and Innovation
Innovation is absolutely critical to future competitive advantage. With creative use of the 80/20 Principle innovation can be both easier if you consider the following ideas:
*
80% of value perceived by customers relates to 20% of what your organization does
*
80% of the benefit from any product or service can be provided at 20% of the cost
*
80% of the profits made in your industry are made by 20% of firms. If you are not one of these, what are they doing right that you're not?
80% of your resources are producing only 20% of value – this ratio always creates arbitrage opportunities for genuine entrepreneurs and innovators.
Simple is Beautiful
To succeed in managing change and transforming your business by applying the 80/20 Theory of the Firm, you need to demonstrate that simple is beautiful and why. Unless you understand this, you will never be willing to give up underperforming 80% of your current business and overheads.
"The truth is that the unprofitable business is so unprofitable because it requires the overheads and because having so many chunks of business makes the organization horrendously complicated". And complexity means decay. Internal complexity has huge hidden costs and depresses returns more effectively than anything else.
"A complex business can be made more simple and returns can soar. All it takes is understanding of the costs of complexity (or the value of simplicity) and courage to remove at least four-fifths of lethal managerial overhead".
Warning!
Don't apply 80/20 analysis and strategies in a linear way. "Like any simple and effective tool, 80/20 Analysis can be misunderstood, misapplied and, instead of being the means to an unusual insight, serve as the justification for conventional thuggery. 80/20 Analysis, applied inappropriately and in linear way, can also lead to the innocent astray – you need constantly to be vigilant against false logic".
A good benchmark for this imbalance is provided by the 80/20 relationship: a typical pattern shows that 80% of outputs result from 20% of inputs; that 80% of consequences flow from 20% of causes; or that 80% of results come from 20% of effort. It reflects relationships in nature, which are an intricate mixture or order and disorder, or regularity and irregularity.
The 80/20 Principle involves a static breakdown of causes at any one time, as opposite to change over time. "The art of using the 80/20 Principle is to identify which way the grain of reality is currently running and exploit that as much as possible".
The 80/20 numbers are only a metaphor and a useful benchmark. The real relationship may be more or less unbalanced than 80/20. The 80/20 Principle asserts, however, that in most cases the relationship is very likely to be unbalanced and close to 80/20.
The 80/20 Principle is extremely versatile. "It can be profitably applied to any industry and any organization, any function within an organization and any individual job". It helps you identify all the forces beneath the surface, so that you can give maximum power to the most productive forces and stop the negative influences.
Achieving Progress by Applying 80/20 Principle
80/20 Principle is inherently optimistic because it reveals a state of affairs that is seriously below what it should be and shows the direction towards a better state. To achieve progress and multiply your output, you must give power to the 20% of resources that really matter in terms of achievement, and get the remaining 80% up to a reasonable level. "Progress takes you to a new and much higher level. But, even at this level, there will still typically be an 80/20 distribution of outputs/inputs. So you can progress again to a much higher level."
80/20 Analysis
80/20 Analysis examines the relationships between two sets of comparable data and can be used to change the relationships it describes. One its use is to discover the key causes of the relationship, the 20% of inputs that lead to 80% of outputs, and put your resources behind the best-performing efforts. The second main use of 80/20 Analysis is to improve the effectiveness of the underperfroming 80% of inputs that contribute only 20% of the output.
80/20 Analysis should be applied carefully, in a systemic way, as opposite to linear thinking that may lead to misunderstanding of the 80/20 Principle and its potential abuses. "Don't be seduced into thinking that the variable that everyone else is looking at... is what really matters. This is linear thinking. The most valuable insight from 80/20 Analysis will always come from examining non-linear relationships that others are neglecting."
80/20 Thinking
80/20 Thinking, applied to your daily life, can help you change behavior and to concentrate on the most important 20%. Action resulting from 80/20 Thinking should lead you to achieve much more with much less. To engage in 80/20 Thinking, you must constantly ask yourself: what is the 20% that is leading to 80%? Never assume that you automatically know what the answer is, but take some time to think creatively about it. "For every ounce of insight generated quantitatively, there must be many pounds of insight arrived at intuitively and impressionistically."
80/20 Principle and Your Business
The key theme of the 80/20 Principle applied to business is how to create the greatest stakeholder value and generate most money with the least expenditure of assets and efforts. Any individual business can gain immensely through practical application of this Principle. The most important use of the 80/20 Principle is "to isolate where you are really making the profits and, just as important, where you are loosing money. Every business person thinks they know this already, and nearly all are wrong. If they had the right picture, their whole business would be transformed".
The game is to spot the few places where you are making great surpluses – be that a product, a market, a customer type, a technology, a distribution channel, a department, a country, a type of transaction, an employee, or a team – and to maximize them; and to identify the places where you are loosing and get out.
80/20 Principle and Innovation
Innovation is absolutely critical to future competitive advantage. With creative use of the 80/20 Principle innovation can be both easier if you consider the following ideas:
*
80% of value perceived by customers relates to 20% of what your organization does
*
80% of the benefit from any product or service can be provided at 20% of the cost
*
80% of the profits made in your industry are made by 20% of firms. If you are not one of these, what are they doing right that you're not?
80% of your resources are producing only 20% of value – this ratio always creates arbitrage opportunities for genuine entrepreneurs and innovators.
Simple is Beautiful
To succeed in managing change and transforming your business by applying the 80/20 Theory of the Firm, you need to demonstrate that simple is beautiful and why. Unless you understand this, you will never be willing to give up underperforming 80% of your current business and overheads.
"The truth is that the unprofitable business is so unprofitable because it requires the overheads and because having so many chunks of business makes the organization horrendously complicated". And complexity means decay. Internal complexity has huge hidden costs and depresses returns more effectively than anything else.
"A complex business can be made more simple and returns can soar. All it takes is understanding of the costs of complexity (or the value of simplicity) and courage to remove at least four-fifths of lethal managerial overhead".
Warning!
Don't apply 80/20 analysis and strategies in a linear way. "Like any simple and effective tool, 80/20 Analysis can be misunderstood, misapplied and, instead of being the means to an unusual insight, serve as the justification for conventional thuggery. 80/20 Analysis, applied inappropriately and in linear way, can also lead to the innocent astray – you need constantly to be vigilant against false logic".
What is Success?
"Success is getting what you want.
Happiness is wanting what you get"
Success is a journey, not a destination." - Ben Sweetland
Success is achieved when a stretch goal is met, overcoming failures, problems and difficulties by conscious effort and by application of capabilities, resources and methods. It is to be differentiated from luck, chance and doing what comes naturally without effort.
Happiness is wanting what you get"
Success is a journey, not a destination." - Ben Sweetland
Success is achieved when a stretch goal is met, overcoming failures, problems and difficulties by conscious effort and by application of capabilities, resources and methods. It is to be differentiated from luck, chance and doing what comes naturally without effort.
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