Separating the Vital Few from the Trivial Many
By Ron Cox, CEO, TailwindDr. Joseph Juran developed the Pareto Principle–better known as the 80/20 Rule. This rule, often applied in analysis and problem-solving, describes how often a small percentage of causal variables account for most of the results being analyzed. Using Pareto Analysis is one of the fundamentals in business. In the process of showing us the way, Dr. Juran coined the phrase, “separating the vital few from the trivial many”.
One of the issues with business strategy and planning lies in our inability to separate our vital few from the trivial many. When working with business leaders in both large and small companies, our discussions always seem to center on the vital many. There are often a dozen or more items in their “vital few,” and sometimes the number is over 20. Getting it down to a core 5 to 7 items for your vital few is essential because the human mind and the business organization can’t simultaneously entertain and execute more imperatives than that. Having too many imperatives impedes your focus and dilutes your intent.
Whether you are managing a small unit, a department or division, an emerging growth company, or a large corporation, separating your vital few imperatives from the trivial many will make a big difference in your ability to execute your strategy.