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Apply the 80/20 rule

While in the Navy, I was honored to work with some of the finest analysts in the world, who were anticipating the demise of the Soviet Union. They came from the Rand Corporation, CIA, military intelligence, Department of Commerce and other government organizations. We had the funds, people and time to study scenarios in detail.

Most businesses, non-profits and local governments don't have that much money or time. What I'm suggesting is learn to do "down and dirty" analyses. Don't collect masses of data, rather learn to quickly review, analyze, spot patterns and share your conclusions.

First, you cannot predict the future precisely , so don't waste your money trying to be absolutely right. As you formulate strategy, filter your information through the 80/20 rule. Identify the information that will have the most impact?

Second, most leaders I met have relied on only four or five key discriminators to make a decision. After all the study and debate, they expected these four or five "drivers" to have most effect.

Strategic thinkers must approach the research wearing their leadership hat.

 

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Wikipedia on
"The Pareto Principle" or the 80/20 Rule

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