Richard Koch

Richard Koch - Leadership Business Management Business Strategy  speaker

 About

About Richard Koch - Author of The 80/20 Principle, Speaks on Leadership and Management:

Richard Koch is an author, entrepreneur and investor. He has written 20 books on ideas and business, including The 80/20 Principle, which has sold over 800,000 copies and been translated into 33 languages. His ventures have included Filofax, Belgo, Plymouth Gin, and Betfair, with returns on his investments between 5 and 53 times his original stakes. Formerly Koch was a strategy consultant with the Boston Consulting Group, a partner of Bain & Company, and a founder of L.E.K. Consulting. He was educated at the University of Pennsylvania and Oxford University.

Koch has actually had three careers, the first as a strategy consultant. He worked for the Boston Consulting Group in the days when Bruce Henderson was dominant and at his most creative. Koch became a partner of Bain & Company when it was a fledgling rival to BCG and was deeply influenced by Bill Bain as well as Henderson. Koch went into business on his own account when he was 33 as a co-founder of LEK Consulting. The firm was said to be the most successful strategy boutique of the 1980s, expanding from 3 to 350 professionals during six years Richard was there, with several offices in the US, Europe and Asia. LEK, in line with the advice it dispensed, not only grew very fast; it was also extremely profitable.

Having put in 80 hours a week for 13 years as a strategy consultant, he retired before he was 40 and has since divided about half his time between two hobbies he finds delightful – helping to start or expand new ventures, and writing books on business ideas. He has started or provided early backing to Filofax, Belgo, Plymouth Gin, and Betfair, and made over £100m personally from these ventures. He is the author of The 80/20 Principle which has become a business classic and global bestseller, and 19 other books providing ideas for business. The other half of his time is spent enjoying life to the full. He believes that everyone and every business can achieve more by doing less, by combining extreme ambition with a relaxed and civilized daily life.

In 1997, The 80/20 Principle pioneered a reinterpretation of the so-called Pareto Rule – extending the idea that most worthwhile results come from a small minority of effort from business, where it was well known, to include personal life and careers. The book, substantially updated in 2007, has become a business classic, being named by GQ as one of the top 25 business books of all time. Richard’s most recent book – written with Greg Lockwood – is Superconnect: How the Best Connections in Business and Life Are the Ones You Least Expect. Eagerly awaited and published in April 2013 is The 80/20 Manager, which gives ten different ways that managers can achieve extraordinary results from ordinary effort.

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 Topics

What Richard Koch Talks About:

Two Principles of Leadership - Focus and Authenticity
Management fads come and go. But whatever the current ideology, most of what managers do is either harmful or marginal. There are only two rules of thumb that nearly always work. They are Focus and Authenticity. Both are trickier than they sound but if they can be mastered, they are liberating and exciting for your people, and greatly improve the chance of business success.

How to become a super-effective manager - the 80/20 Manager
Richard Koch lists ten different ways that you can become a super-effective manager and asks the audience to select the three that interest them most. All are ways to get extraordinary results with ordinary effort. The ten ways are from fresh research he has conducted for his forthcoming book The 80/20 Manager.

Any one of the ways, if you become adept at it, can be a game changer for a manager. But it does require you have to change your habits and stop following the herd. Above all, you have to act less and think more.

Koch challenges the audience - do they really want to become super-effective? Are they prepared to change their habits? And explains three necessary conditions for the change.

How to get more with less -- the magic of the 80/20 Principle.
In these hard times, companies need to do more with less. Happily this is always possible. The trick is to truly understand the 80/20 Principle and to be ruthless in cutting out the trivia that swamps our working lives. Focus instead on your few super-productive customers, products, and activities. Cut out everything else. And make better use of your own time: almost certainly, a few things you do, including making tough decisions, add most of your value.

How to gain new insight - the strength of weak links
The best connections in life and business are often the ones you least expect, because they come from outside your mainstream.

Your friends and colleagues have access to pretty much the same insight and information you do -- and not much more. To get fresh ideas, that can move a manager or enterprise to a new level, you need to go beyond your usual circles. Drawing on material from sixty years of research in psychology and sociology, Richard Koch shows how.

How to Start a Successful Venture - the Star Principle
There are all kinds of explanations as to why some new ventures succeed and others fail. But one answer dominates. It has little to do with the venture capitalist's mantra - the quality of the management. And nothing to do with the corporatist answer - the synergy with existing operations. The fact is that all really successful new ventures attain a leading market share in a fast growth market - the stars. Nearly all the value in the stock market comes from companies that are or have been star businesses. Using multiple examples from his own experience, Richard Koch shows why if you don't have a star business the prospect of success is remote, and if you do, why it can usually be made to work.

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