“Assume your industry is screwed”: Richard Koch 80/20 Principle


After another inspiring Castaway networking event last night (and meeting some very bright, energetic digital innovators from companies as diverse as Zopa, Kizoom and Fortune Cookie), I was reminded of a great quote from Richard Koch, author of the 80/20 Principle.

We tend to assume our organisations and our industries are doing pretty much the best they can. We tend to think that our business world is highly competitive and has reached some sort of equilibrium or end-game. Nothing could be further from the truth! It would be far better to start from the proposition that your industry is all screwed up and could be structured much more effectively to provide what customers want. And as far as your organisation is concerned, your ambition should be to transform it within the next decade, so that in 10 years time your people will look back, shake their heads ruefully and say to each other “I can’t believe we used to do things that way, We must have been crazy!”

There were certainly plenty of great ideas bouncing around last night about how PR and marketing can (and is) being transformed. Bring it on.

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Comments

  1. That’s a great thought experiment. Or maybe more of a sub-routine one should be running in the back of one’s mind all of the time.

    Like

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