Strategy

Unless you have used the 80/20 Principle to redirect your strategy, you can
be pretty sure that the strategy is badly flawed. Almost certainly, you don’t
have an accurate picture of where you make, and lose, the most money. It is
almost inevitable that you are doing too many things for too many people.
Business strategy should not be a grand and sweeping overview. It should
be more like an underview, a peek beneath the covers to look in great detail
at what is going on. To arrive at a useful business strategy, you need to look
carefully at the different chunks of your business, particularly at their
profitability and cash generation.