Using the 80/20 Rule in Your Business,” with Peter Chatel, The Chatel Consulting Group
Peter Chatel: [00:00:00] All my principles are pretty much common sense, let me tell you. But not everything matters equally. So, a disproportionately small number of things leads to a disproportionately large number of results. This is the Pareto Principle. This is the Law of Pareto. Most people know it as the 80/20 principle.
Peter Chatel: [00:00:26] Vilfredo Pareto was an economist in, I think, 1500 in Italy, studied the wealth in Italy. Surprise, surprise, found 20 percent of the people owned 80 percent of the wealth, 20 percent of landowners owned 80 percent of the land. And let’s not get too hung up on the the numbers, but I believe that this is a law of the universe that you disregard at your peril. And I also believe it can be repeating within itself. So, if you go 20 leads to 80, then 20 of 20, four leads to 64 percent, and 20 percent of four is one, one percent leads to 51 percent of your results.
Peter Chatel: [00:01:15] So, my mantra with the people I work with, both non-profits and profits, is, find your one percent. Because one percent leads to 51 one percent. So, I’ll give you an example. My wife danced for Alzheimer’s two years ago. She raised $117,000. She had 134 donors. The top five gave her 80 percent. Eighty percent of restaurants we eat at, we eat 80 percent of the time. Twenty percent of the roads in Atlanta, we travel 80 percent of the time. And you can get hung up on the 20/80. It’s just a disproportionately small number of things leads to a disproportionately large number of results.
Peter Chatel: [00:01:54] And so, this is where it’s important to know what are the activities that generate the results, and focus and do more of those activities. And the activities that don’t generate results, delegate or discard.
Peter Chatel, Founder, The Chatel Consulting Group
In April 2015, after 22 years with The Coca-Cola Company, Peter announced the formation of his consulting, training and coaching practice, The Chatel Consulting Group. Since “re-wiring” from The Coca-Cola Company, Peter joined The John Maxwell Team and was certified as a Speaker, Trainer and Coach. In April 2017, Peter became one of less than 100 people in the world certified to train and coach The ONE Thing. In 2020, he became a Certified Purpose Mentor through JourneyLife.
In 2020, Peter shifted the focus of his consulting practice to support nonprofits. He helps nonprofits lead, plan, and execute with excellence through teamwork that is purpose-led, people-centered, process-driven, and performance-focused — something he calls Petership©.
Over the past 5 years, Peter has worked with hundreds of organizations to establish and nurture Purpose-driven and Resilient Cultures where staff are more engaged, productive, and loyal; as well as healthier and happier. His work with nonprofit leadership teams focuses on their collaboration skills so they can improve and expand their impact. Through 1-on-1 coaching, group coaching, and workshops, Peter gets people inspired and focused on the path to profoundly positive performance.
Peter is married to Sarah and they have a blended family of five children and live with their two dogs.
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The “One Minute Interview” series is produced by John Ray and in the North Fulton studio of Business RadioX® in Alpharetta. You can find the full archive of shows by following this link.
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