Living the 80/20 Way

Can you spell S-U-C-C-E-S-S. If so holler as loud as you can!! Living the 80/20 Way is a book written by Richard Koch and it is truly a wonderful book for the like-minded entrepreneur or any average individual looking to absorb the most of life.

I truly feel that after reading this book, with lots and lots of effort any like-minded individual can turn their life around.  A lot of us worry about making more money, achieving more success, and gaining more fame and feel that the route to such factors is to do more when this isn’t the case! Allow me to summarize the book in the form of bullet points.

  • 20% of our efforts leads to 80% of the results. Albert Einstein, Steve Jobs, Warren Buffett, & Michael Jordan are all examples of people who took the 80/20 route with extraordinary success. The point is that less is more. By focusing on only the things you love or are passionate about, you can get extraordinary results as well
  • Take the 80/20 route in managing money, achieving success, relationships, and personal pleasures, etc.
  • 20% of customers are what lead to 80% of sales for any business
  • Decrease the clutter as much as possible, this includes buying only the furniture, utensils you need, downloading only the iPhone and iPad apps that you need, buying only the clothes that add meaning to your personality, and only participating in activities or hobbies you adore
  • Thinking and concentrating about only things that matter and add zest to your life
  • Figuring out what your happiness islands and achievement islands are, and camping out on these islands
  • Determining what your 80/20 destinations are, and taking the 80/20 route to get there
  • Less is more, less is more, less is more!!, Not more with more, LESS IS MORE!!

Need I say more, I may reference this blog entry or the concept in my future blogs, as this should be the path to success in any department of your life, not just working and making a difference in this world. Because the truth is that it is your inner peace, happiness, key relationships, who you’re with, type of friends circle, intertwined with passion of course that propel you to success aside from just working hard.

Working long hours is not for everyone and if you’re someone who realizes that working long hours is expending energy, CUT IT!!

If you are an advocate of the following statement: “Ultimately, we must all have 80/20 Vision!!!, not 20/20 Vision”, then please like this blog.  And if you have not read the above book, once again the title of the book is “Living the 80/20 Way” by Richard Kotz, then I highly suggest that you read it!

What’s your 80/20 destination? Feel free to leave a comment below explaining it. I’d love to hear from you all!!

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The act & art of investing

Investing is a very excellent skill for people to acquire, especially if you’re one of those individuals looking to save up for grad school, your future kids college tuition, or that new sexy Lamborghini you’ve been wanting to afford. I feel like it’s skill that all business professionals, marketing professionals, and entrepreneurs should at least attempt to master. Now just remember two important details: Reading as much as you can, and knowing what to read! Lot of people who get their foot into the door of investing have a tendency of speeding things up. They get so ambitious and greedy that they just enter the game without learning the instructions. While you may be a quick learner, there are a lot of factors in considering when deciding whether to invest in a particular stock. One common mistake is investing based on emotion. For instance, if you’re a Starbucks lover, you invest in Starbucks without thinking about whether you could lose your investment. There are so many people that had a profound interest in investing who simply pulled the plug one fine day after they had lost so much money and became discouraged!

The three documents you will have to read prior to investing are the following:

1. 10-K Report(Annual Report)

2. 10-Q Report(Quarterly Report)

3. 14A Proxy Statement

And while reading these documents, only observe the key performance metrics in deciding whether to purchase a stock or not. A few of the stable stocks that are out there right now are Google, and Apple. However, that doesn’t mean you should just blindly invest in these stocks. My advice to novices interested in investing are to read books on how to invest thoroughly but when it comes to reading the above documents, make sure you only take a look at the right performance metrics such as price/earnings ratio, net profit, shareholders statement, etc.

We all can’t be the next Warren Buffett, but we all can become shrewd investors and make an ROI(Return of Investment). Good luck!! And I’ll post more tidbits on this topic later.