Product Description

No longer are corporations and capital king. There's a new way to create wealth that is better than the traditional route of managerial capitalism. Creative individuals are at the heart of the new revolution. In this book Koch shows how a new 21st century individualism is replacing capitalism and how individuals can create wealth and wellbeing. The revolution follows one simple principle - the 80/20 principle. Success comes from exclusive focus on the few very powerful forces operating in an arena. The most important forces to which the 80/20 principle apply are ideas and individuals, but it also applies to the other raw materials of enterprise -customers, partners, technologies, products, suppliers and capital. Wealth is most effectively multiplied by subtraction and re-arrangement of industries, not through the traditional routes of aggregation of activities and assets. More separate enterprises are created, spawned by a new idea from individuals, and linked together by markets rather than by hierarchy and central planning. The 80/20 revolution is as important as the three other revolutions in economic history - agricultural, industrial and managerial - which changed economies and societies for ever. The same will happen again, over the next two decades. The most seminal change has already happened - the most successful corporations now revolve around a few individuals. The corporation serves individuals, not the other way round. We will witness a huge wealth transfer to individuals and away fom institutions, to entrepreneurs and away from passive investors.

Product Details

• Amazon Sales Rank: #41355 in Books
• Published on: 2002-06-05
• Original language: English
• Binding: Hardcover
• 282 pages

Management Today
"Here is a stimulating account of the qualities needed for entrepreneurial start-up."

About the Author
Richard Koch is the author of eleven accliamed books including the bestelling The 80/20 Principle. A 'serial entrepreneur', he has made large returns from a diverse range of businesses. He was a partner with Bain & Co and a co-founder of The LEK Partnership. He is now a non-executive director of four quoted companies and advises venture capital groups in the UK and South Africa.

Customer Reviews

The title says it all
I am a big fan of Koch's original book - "The 80-20 Principle" - but this title was a disappointment. It has one theme: that "80/20" people will inherit the Earth - and labors it to death. Koch gives lots of examples of companies that have benefitted from 80/20 leaders (Microsoft, Oracle etc.) but conveniently ignores other well known examples of companies that have succeeded due to strong management teams. I usually write short summaries for myself when I finish a book but I didn't bother after reading this one. Which tells you how much I learnt. If you haven't read his original book then buy it. But you won't learn much from this one.

Insightful!
Author Richard Koch contends that individual initiative is responsible for most progress, given that 20% of entrepreneurs or innovators are responsible for 80% of results and new ideas. Koch focuses on how to be a successful entrepreneur by working with a small team of supporters. He discusses the importance of good ideas, great colleagues, a powerful value proposition, good partners and, of course, ample capital. He suggests a trend toward a new breed of corporations based on individualism, though Bill Gates and Warren Buffett alone do not necessarily make a trend. While Koch writes in a breezy, engaging style, the 80/20 mantra becomes generalized and repetitious. It's a popular expression, but does it always apply? The other chapters are more solid, though they restate known entrepreneurial principles and techniques, dressed in 80/20 lingo. As such, we from getAbstract suggest, they may be a good introduction for the new entrepreneur, if not for the rugged individual who has already mastered the percentages.