Richard John Koch (b.1950) is a British management consultant, entrepreneur, and author known for his work on business strategy and the Pareto principle (80/20 rule.) His ideas on efficiency and success have influenced global management practices.
Born in London, Koch earned an M.A. at Oxford University and later completed an MBA at the Wharton School, University of Pennsylvania. He began his career as a consultant at the Boston Consulting Group, then became a partner at Bain & Company. In 1983, he co-founded L.E.K. Consulting, specializing in business strategy.
Koch has authored several influential books on management and productivity. His best-known work, The 80/20 Principle: The Secret to Achieving More with Less (1997,) explores how focusing on the most effective 20% of efforts yields 80% of results. Other notable books include The Power Laws: The Science of Success (2000,) The 80/20 Individual (2003,) Living the 80/20 Way (2004,) and The 80/20 Manager (2013.) His book Simplify: How the Best Businesses in the World Succeed (2018,) co-authored with Greg Lockwood, examines how companies thrive by simplifying their offerings.
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The few things that work fantastically well should be identified, cultivated, nurtured, and multiplied.
—Richard Koch
Topics: Time Management, Action
Conventional wisdom is not to put all of your eggs in one basket. 80/20 wisdom is to choose a basket carefully, load all your eggs into it, and then watch it like a hawk.
—Richard Koch
Topics: Time Management, Action
The 80/20 Principle, like the truth, can make you free. You can work less. At the same time, you can earn more and enjoy more. The only price is that you need to do some serious 80/20 thinking.
—Richard Koch
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