Good Benchmarking Quotes

Hold material goods and wealth on a flat palm and not in a clenched fist.

Celebrating milestones and benchmarks in work and in life might turn out to be a good way to carve your life.

One of the benchmarks of great communicators is their ability to listen not just to what's being said, but to what's not being said as well. They listen between the lines.

The best leaders don’t care much about “benchmarking,” comparing their organization to others. They know theirs is not good enough, and constantly push to get better.

Mitchell Maxwell’s Maxims • You have to create your own professional path. There’s no longer a roadmap for an artistic career. • Follow your heart and the money will follow. • Create a benchmark of your own progress. If you never look down while you’re climbing the ladder you won’t know how far you’ve come. • Don’t define success by net worth, define it by character. Success, as it’s measured by society, is a fleeting condition. • Affirm your value. Tell the world “I am an artist,” not “I want to be an artist.” • You must actively live your dream. Wishing and hoping for someday doesn’t make it happen. Get out there and get involved. • When you look into the abyss you find your character. • Young people too often let the fear of failure keep them from trying. You have to get bloody, sweaty and rejected in order to succeed. • Get your face out of Facebook and into somebody’s face. Close your e-mail and pick up the phone. Personal contact still speaks loudest. • No one is entitled to act entitled. Be willing to work hard. • If you’re going to buck the norm you’re going to have to embrace the challenges. • You have to love the journey if you’re going to work in the arts. • Only listen to people who agree with your vision. • A little anxiety is good but don’t let it become fear, fear makes you inert. • Find your own unique voice. Leave your individual imprint on the world, not a copy of someone else. • Draw strength from your mistakes; they can be your best teacher.

everybody else. But it makes complete sense when you consider his perspective: he isn’t measuring himself against the other players; he is measuring himself against himself. The best leaders don’t care much about “benchmarking,” comparing their organization to others. They know theirs is not good enough, and constantly push to get better.

Copy cats may seem good at what they are doing, but they will never find a spot at the top.

With every benchmark, he was living proof that it was possible to have a good life in spite of a disability, and it dawned on me that he could help teach that lesson to others.

It is one of the benchmarks of a culture I always think – the page at which it operates. A good way to measure it is to order a taxi and see how irate local people get if it is late.

The idea that the GDP still serves as an accurate gauge of social welfare is one of the most widespread myths of our times. Even politicians who fight over everything else can always agree that the GDP must grow. Growth is good. It’s good for employment, it’s good for purchasing power, and it’s good for our government, giving it more to spend. Modern journalism would be all but lost without the GDP, wielding the latest national growth figures as a kind of government report card. A shrinking GDP spells recession and, if it really shrivels, depression. In fact, the GDP offers pretty much everything a journalist could want: hard figures, issued at regular intervals, and the chance to quote experts. Most importantly, the GDP offers a clear benchmark. Is the government doing its job? How do we as a country stack up? Has life gotten a little better? Never fear, we have the latest figures on the GDP, and they’ll tell us everything we need to know. Given our obsession with it, it’s hard to believe that just eighty years ago the GDP didn’t even exist.

I believe benchmarking best practices can open people’s eyes as to what is possible, but it can also do more harm than good, leading to piecemeal copying and playing catch-up. As one seasoned Toyota manager commented after hosting over a hundred tours for visiting executives, “They always say ‘Oh yes, you have a Kan-Ban system, we do also. You have quality circles, we do also. Your people fill out standard work descriptions, ours do also.’ They all see the parts and have copied the parts. What they do not see is the way all the parts work together.” I do not believe great organizations have ever been built by trying to emulate another, any more than individual greatness is achieved by trying to copy another “great person.

I am the daughter of a mother who would never change...The refusal to modify her aspect, her habits, her attitudes was strategy for resisting American culture, for fighting it, for maintaining her identity...When my mother returns to Calcutta, she is proud of the fact that, in spite of almost fifty years away from India, she seems like a woman who never left. I am the opposite. While the refusal to change was my mother's rebellion, the insistence on transforming myself is mine...All my life I've tried to get away from the void of my origin. It was the void that distressed me, that I was fleeing...Writing, I discovered a way of hiding in my characters, of escaping myself. Of undergoing one mutation after another. One could say that the mechanisms of metamorphosis is the only element of life that never changes. The journey of every individual, every country, every historical epoch, of the entire universe and all it contains, is nothing but a series of changes, at times subtle, at times deep, without which we would stand still. The moments of transitions in which something changes, constitute the backbone of all of us. Whether they are a salvation or a loss, they are moments we tend to remember. They give a structure to our existence. Almost all the rest is oblivion.

if the strategy is a long–short dollar-neutral strategy (i.e., the portfolio holds long and short positions with equal capital), then 10 percent is quite a good return, because then the benchmark of comparison is not the market index, but a riskless asset such as the yield of the three-month US Treasury bill (which at the time of this writing is just about zero percent).

Where I live, being considered “good” has little to nothing to do with institutional religion. The social benchmarks for moral applause have more to do with whether one eats organic, rides his or her bike to work, and supports a humanitarian initiative in Africa. Things like these—even if good things that contribute to the flourishing of our world, in a manner similar to many traditional religious works—comprise our contemporary bars of righteousness by which one’s social capital is improved. In corporate culture, these bars may have more to do with how much money we’ve made or the size of our portfolio. In political culture, how much power we’ve attained or the heights up the ladder we’ve climbed. In popular culture, how much sex we’ve had or the number of Twitter followers who are interested in what we have to say. The cultural decline of institutional religion has simply meant the relocation, not the destruction, of social norms through which we pursue personal justification and social acceptance for our existence.

Listen carefully and you’ll hear that word enough everywhere, especially when it comes to the anxiety, loneliness, exhaustion, and division that plague our moment to such tragic proportions. You’ll hear about people scrambling to be successful enough, happy enough, thin enough, wealthy enough, influential enough, desired enough, charitable enough, woke enough, good enough. We believe instinctively that, were we to reach some benchmark in our minds, then value, vindication, and love would be ours—that if we got enough, we would be enough.

By planting rye I am creating carbon sinks in my backyard, expanding my role in the carbon cycle, launching my own backyard campaign to offset global warming. My emissions, after all, reflect a rural but very comfortable life in which I enjoy goods that travel great distances - clementines from Spain, wine from California - and on the occasional holiday I fly south, seeking warmer places. Will planting rye in the shoulder seasons be enough to make a difference? Certainly not, but it is a gesture, a way to frame the question and provide a benchmark to judge the extent of my complicity.

America is a young country, young and brash and prone to errors. Like teenagers. For all our inherent goodness, we’ve been cursed with bright, shiny object disease and we don’t want a cure. Not now. Not till we get our little taste, till our kids get theirs.

In our post-everything culture, obey has become a four-letter word. Obeying is for wimps. Obeying is for people who didn’t do well enough on their SATs to write their own rules. Only the weak and the feeble and the young—-well, not even the young anymore—-need to obey. Funny, because the root of the word obey is from the French verb meaning “to listen, or to give ear to.” It was never intended as a militant word, but one of hearing, of understanding. Of getting it. For a world obsessed with staying in constant communication, we aren’t really very good listeners.

Step 2: Codify Hopefully you’ve identified a few users who meet the criteria of habitual users. But how many users are enough? My rule of thumb is five percent. Though your rate of active users will need to be much higher to sustain your business, this is a good initial benchmark.

How much we get done and how well we can do it are the benchmarks of a good day or professional success. The more efficiently we produce, the better we feel. The downside, however, is that continued good feelings depend on keeping up the momentum of doing more. This doesn’t come without a cost.

Turning Your Financial Dreams into Reality   Once you’ve identified your goals and spending habits, it’s time to find out how much work you need to do to turn your financial dreams into reality. This is where the uphill climb begins and your journey can quickly become overwhelming if you don’t break down the planning process into manageable steps. An easy way to do this is to compare yourself to a series of financial benchmarks to identify your individual strengths and weaknesses. Comparing yourself to these benchmarks will show you what parts of your financial plan are in good working order and what parts need to be overhauled. Benchmarking allows you to allocate your resources efficiently so you’re never sacrificing too much in any single area. See how close you come to meeting the following benchmarks.

Of the 53 central banks tracked by Bloomberg, 19 have dropped their benchmark interest rates in the past three months. Low rates encourage consumers to borrow and spend, increasing domestic consumption. They also devalue currencies, making exports cheaper. That's good for the countries selling but hard on countries flooded with cheap products.

Ratan Tata was already well known in the investment community, but it was a new and interesting experience for me. Inevitably perhaps, on the road show we were always being compared and evaluated against Infosys and a lot of complimentary things were said about Infosys. Although we were competitors, to hear good things said in international forums about an Indian company made us very happy. When Ratan Tata returned from the road show he wrote a leter to Infosys’s management saying, ‘I must tell you that I felt so proud that here is an Indian company which is considered a benchmark in governance and transparency.

In the competitive world of money management, performance is measured not by absolute returns but the returns relative to some benchmark. For stocks these benchmarks include the S&P 500 Index, the Wilshire 5000, global stock indexes, or the latest “style” indexes popular on Wall Street. But there is a crucially important difference about investing compared with virtually any other competitive activity: Most of us have no chance of being as good as the group of individuals who practice for hours to hone their skills. But anyone can be as good as the average investor in the stock market with no practice at all. The

Don't be sad when people call you a 'has been.' It just means that you have done something good in the past that has become a benchmark in life

Don't be sad when people call you a 'has been.' It just means that you have done something good in the past that has become a benchmark in life.

many of us are stuck with the belief that if we just reach some kind of benchmark, financially or otherwise, that we’ll really start to live the good life. And that’s really faulty thinking

Benchmark against the top performing movers and shakers in your game. What are the skills required to achieve excellence in your area of specialty as a leader? How are you managing your vision and mission? Do you demonstrate a life lived with clear goals and targets? How are you providing direction, influence and developing others to lead? What is the evidence of the good leadership of your team?

Everyone’s job has different requirements, but the three main folders I use should fit many types of work. Current projects, with a subfolder for each project. (You should try to keep these to no more than ten. After all, how many of us are simultaneously working on more than ten projects? If you are, you’ll learn in the next chapter how to tidy your time.) Records, which contain policies and procedures you regularly access. Usually, these files are provided by others and you typically don’t modify them. Examples include legal contracts and employee files. Saved work, which consists of documents from past projects that you’ll use in the future. Examples include files that can help you with new projects, like a presentation from a previous client that can be a good template for a future one. Other types of saved work can include research you’ve done that could be helpful later, such as benchmarking of competitors or industry research. You may also want to save some projects to have a portfolio to show to prospective clients or new employees for training purposes. If you keep personal files in the same space, add a “Personal” folder so you don’t intermingle personal and work files. Keep digital documents organized. Staying organized is much easier once you have a small set of intuitive, primary folders. If you decide to keep a new file, put it in the most appropriate folder. Otherwise, delete it. The usefulness of your folders will improve as you consistently place similar files in the same place and keep only what you need. When projects are done, decide whether they warrant being moved to your “Saved Work” folder or if you can discard them. There’s no need to store records such as company policies if they’re accessible in other places or won’t be needed again.

Yes,’ I told Heather. Yes, I would rather eat delicious falafel at the joint around the corner than flatter my way to an intimacy with someone for whom marriage is a financial transaction, young flesh for old, security for heirs. Yes, I would rather enjoy creamy tahini, a soft pita, those perfectly fried little balls, than torture myself about what was or was not happening in my life when my life was good. Yes, I rejected marriage—as an abstract, arbitrary signifier, as a legal and social status that determined my value, as a bullshitty benchmark I’d blown past years ago anyway. Yes!” She raised a fist in the air. “I wanted pleasure. Yes, I wanted companionship. Yes, I wanted a life of meaning. Yes, this was thirty-six, goddammit, tonight I wanted falafel and tonight it would be mine. I would rather eat falafel than get married.

While miltefosine was a newer drug and could be taken in pill form, he didn’t want to use it. And besides, there was none available.* There had been too few clinical trials to make him comfortable with it, and in one trial in Colombia it seemed to be ineffective against L. braziliensis. He also said you never really knew what kind of side effects might pop up until at least ten thousand people had taken a drug, and miltefosine had not reached that benchmark. He had had long experience with amphotericin B, and it produced an approximately 85 percent remission rate, which was about “as good as it gets” in any drug treatment.

On March 31, 2016, Securities and Exchange Commission chair Mary Jo White said this to the students of Stanford Law School: Nearly all venture valuations are highly subjective. But, one must wonder whether the publicity and pressure to achieve the unicorn benchmark is analogous to that felt by public companies to meet projections they make to the market with the attendant risk of financial reporting problems. And, yes that remains a problem. We continue to see instances of public companies and their senior executives manipulating their accounting to meet various expectations and projections.1 We have reached a point in the world of technology startups where the fervor for building a company with a billion-dollar valuation — the elusive startup unicorn — is overshadowing the creation of real value. It is not the first time we have been here; the world of startups and venture capital has always run in cycles, from optimistic zeal to caution to post-catastrophe introspection and back again. But perhaps it is time that entrepreneurs and investors alike begin waking up to the fact that the “valuation-at-all-costs” model, with its relentless pressure, remote odds of success, and human cost, is not only unsustainable but bad business. At this point in the current cycle, the radically overvalued startup appears to be headed for the endangered species list. That is a good thing. While billion-dollar behemoths will always exist, and the high-wire act of chasing scale while also chasing the cash to fund that scale will occasionally produce a solid company, there are other ways to build a business. There are better ways to build a business.

Wolever and Jenkins tested sixty-two foods and recorded the blood-sugar response in the two hours after consumption. Different individuals responded differently, and the variation from day to day was “tremendous,” as Wolever says, but the response to a specific food was still reasonably consistent. They also tested a solution of glucose alone to provide a benchmark, which they assigned a numerical value of 100. Thus the glycemic index became a comparison of the blood-sugar response induced by a particular carbohydrate food to the response resulting from drinking a solution of glucose alone. The higher the glycemic index, the faster the digestion of the carbohydrates and the greater the resulting blood sugar and insulin. White bread, they reported, had a glycemic index of 69; white rice, 72; corn flakes, 80; apples, 39; ice cream, 36. The presence of fat and protein in a food decreased the blood-sugar response, and so decreased the glycemic index. One

I’ve wanted you from the minute I saw you.” I put my hands flat on his chest, getting used to the idea of him as a physical, solid presence. I was going to enjoy this one night. “You made a crack about it being my first time.” “I wanted to bend you over the table.” He kissed me with a pop. “Yank your skirt up.” Another kiss. “And stick my fingers in you to see if you were wet.” “I was.” “Good.” He gave me his tongue, guided me with his lips, possessed me with his mouth. FILE UNDER: Kissing. SUBFOLDER: New benchmark.

A good architect should lead by example, he (or she) should be able to fulfill any of the positions within his team from wiring the network, and configuring the build process to writing the unit tests and running benchmarks. Without a good understanding of the full range of technology an architect is little more than a project manager. It is perfectly acceptable for team members to have more in-depth knowledge in their specific areas but it's difficult to imagine how team members can have confidence in their architect if the architect doesn't understand the technology.

I should buy Le Monde. It is, after all, the chosen newspaper of les intellos and it remains the benchmark in France for good journalism.

Things that cannot be described by numbers should not be described by numbers. A lot of the most important, actionable “data” in a classroom cannot be tortured into an integer, benchmark, zone, indicator, or anything else that looks good in a report.

Internationally benchmark - Quality and Regulatory systems Delwis Healthcare strives to meet the GOALS by specifically focusing on the basic fundamentals of Excellence - Innovation, Quality and Service. We believe that customer satisfaction, in terms of quality, delivery and after sales services, is our first and foremost responsibility. This objective is achieved by following Good Manufacturing Practices and Local & International Rules and Regulations applicable to our operations. Delwis Healthcare is awarded the ISO 9001:2015. With an outstanding track record for maintaining quality, we continue to operate as one of the India's top-notch Quality Control and Analytical Research Laboratories. Quality Control Delwis Healthcare focuses on Quality Control (QC) and Quality assurance (QA) as these are our strengths and the key differentiators. Strict adherence to cGMP norms as well as our efforts towards continuous improvement of our Product, Processes and the Skills of our work force enables us to improve our offerings to our customers and consumers on a regular basis. We have a modern and well-equipped Quality Control (QC) Laboratory, which ensures that our products are Pure, Safe and Effective and are released only after thorough analysis as per stringent specifications, methods and procedures developed according to international guidelines. Our QC department has all the necessary instruments for the Analysis of API, Finished Products, Packaging, and Related Materials used.

And our more progressive clients, monitored by their CFOs, are starting to require a specific number of hours of ongoing education at all levels of the organization (we suggest 12 hours for the frontline; 25 hours for middle management; and 45 to 60 hours for senior leaders as a starting point). Worried about spending all that money on training only to watch your people go elsewhere? The research definitively shows that training and development increases loyalty. Besides, what’s the alternative? Do you really want your people not to be the best-trained for the jobs they have to do? And how much should you spend on training? It obviously depends, but 2% to 3% of your payroll is a good benchmark. Who should you spend it on? Senior leaders, middle managers, frontline employees? They all need training, but focus first on your middle management. In most growth companies, they have the hardest jobs and are critical to employee engagement and retention, yet get the least preparation for it.

Amazon’s Leadership Principles6 Customer Obsession. Leaders start with the customer and work backwards. They work vigorously to earn and keep customer trust. Although leaders pay attention to competitors, they obsess over customers. Ownership. Leaders are owners. They think long term and don’t sacrifice long-term value for short-term results. They act on behalf of the entire company, beyond just their own team. They never say, “that’s not my job.” Invent and Simplify. Leaders expect and require innovation and invention from their teams and always find ways to simplify. They are externally aware, look for new ideas from everywhere, and are not limited by “not invented here.” As we do new things, we accept that we may be misunderstood for long periods of time. Are Right, A Lot. Leaders are right a lot. They have strong judgment and good instincts. They seek diverse perspectives and work to disconfirm their beliefs. Learn and Be Curious. Leaders are never done learning and always seek to improve themselves. They are curious about new possibilities and act to explore them. Hire and Develop the Best. Leaders raise the performance bar with every hire and promotion. They recognize exceptional talent, and willingly move them throughout the organization. Leaders develop leaders and take seriously their role in coaching others. We work on behalf of our people to invent mechanisms for development like Career Choice. Insist on the Highest Standards. Leaders have relentlessly high standards—many people may think these standards are unreasonably high. Leaders are continually raising the bar and drive their teams to deliver high-quality products, services, and processes. Leaders ensure that defects do not get sent down the line and that problems are fixed so they stay fixed. Think Big. Thinking small is a self-fulfilling prophecy. Leaders create and communicate a bold direction that inspires results. They think differently and look around corners for ways to serve customers. Bias for Action. Speed matters in business. Many decisions and actions are reversible and do not need extensive study. We value calculated risk-taking. Frugality. Accomplish more with less. Constraints breed resourcefulness, self-sufficiency, and invention. There are no extra points for growing headcount, budget size, or fixed expense. Earn Trust. Leaders listen attentively, speak candidly, and treat others respectfully. They are vocally self-critical, even when doing so is awkward or embarrassing. Leaders do not believe their or their team’s body odor smells of perfume. They benchmark themselves and their teams against the best.

Questions About the Past Performance How has this organization performed in the past? How do people in the organization think it has performed? How were goals set? Were they insufficiently or overly ambitious? Were internal or external benchmarks used? What measures were employed? What behaviors did they encourage and discourage? What happened if goals were not met? Root Causes If performance has been good, why has that been the case? What have been the relative contributions of strategy, structure, systems, talent bases, culture, and politics? If performance has been poor, why has that been the case? Do the primary issues reside in the organization’s strategy? Its structure? Its technical capabilities? Its culture? Its politics? History of Change What efforts have been made to change the organization? What happened? Who has been instrumental in shaping this organization? Questions About the Present Vision and Strategy What is the stated vision and strategy? Is the organization really pursuing that strategy? If not, why not? If so, will the strategy take the organization where it needs to go? People Who is capable, and who is not? Who is trustworthy, and who is not? Who has influence, and why? Processes What are the key processes? Are they performing acceptably in quality, reliability, and timeliness? If not, why not? Land Mines What lurking surprises could detonate and push you offtrack? What potentially damaging cultural or political missteps must you avoid? Early Wins In what areas (people, relationships, processes, or products) can you achieve some early wins? Questions About the Future Challenges and Opportunities In what areas is the organization most likely to face stiff challenges in the coming year? What can be done now to prepare for them? What are the most promising unexploited opportunities? What would need to happen to realize their potential? Barriers and Resources What are the most formidable barriers to making needed changes? Are they technical? Cultural? Political? Are there islands of excellence or other high-quality resources that you can leverage? What new capabilities need to be developed or acquired? Culture Which elements of the culture should be preserved? Which elements need to change?

We are neither robotically systematic nor wholly idiotic when making investment decisions. To be sure, we do our best to remain objective and make good decisions, but we are strongly influenced by our cognitive limitations and the cloudy lens through which we see the world. But behavioral approaches, which showcased the limitations of our mental computers, simultaneously gave us the notion that what we consumed mattered greatly.

High schools routinely classified students who quit high school as transferring to another school, returning to their native country, or leaving to pursue a General Equivalency Diploma (GED)—none of which count as dropping out in the official statistics. Houston reported a citywide dropout rate of 1.5 percent in the year that was examined; 60 Minutes calculated that the true dropout rate was between 25 and 50 percent. The statistical chicanery with test scores was every bit as impressive. One way to improve test scores (in Houston or anywhere else) is to improve the quality of education so that students learn more and test better. This is a good thing. Another (less virtuous) way to improve test scores is to prevent the worst students from taking the test. If the scores of the lowest-performing students are eliminated, the average test score for the school or district will go up, even if all the rest of the students show no improvement at all. In Texas, the statewide achievement test is given in tenth grade. There was evidence that Houston schools were trying to keep the weakest students from reaching tenth grade. In one particularly egregious example, a student spent three years in ninth grade and then was promoted straight to eleventh grade—a deviously clever way of keeping a weak student from taking a tenth-grade benchmark exam without forcing him to drop out (which would have showed up on a different statistic).

Let’s say that you’ve identified a few users who meet the criteria of habitual users. Yet how many such users are enough? My rule of thumb is 5 percent. Though your rate of active users will need to be much higher to sustain your business, this is a good initial benchmark.

It's okay if our charm gets a little banged up along the way, don't you think? Or a lot banged up. I just—I have to believe we're all good and worthy even when we don't have clear, concise stories where everything we went through makes sense, and our issues are predictable and our quirks are only minorly quirky, never distractingly quirky. Sometimes big, shitty things happen like a serial cheater and it makes us twitchy about new relationships. Other times, we have a slightly chaotic childhood and we're almost paralyzed with anxiety as adults. The hit doesn't have to be hard to leave a dent. And regardless of the size of that dent, I need to believe we're all okay. That it's our rusty, banged up charm calling out and asking for acceptance.

Like any good worker, you have goals and benchmarks. Your goal is to be the best at everything and the most liked by everyone.

A hygienic environment, proper waste and sewer disposal, clean water and all efforts that destroy disease-carriers like flies and mosquitoes will reduce the spread of disease and promote good health. My home challenge for a hygienic environment is that we should be responsible enough to make sure we are safe and comfortable eating apples in the toilet and bathroom!

When you become aware of the need to practice servant leadership, to act as a faithful steward and exercise good personal governance – the challenge is to align these three and ensure they fit in with your defined leadership vision, mission and values. If there is no congruence, then leadership effectiveness will be compromised because the likelihood of not practicing these sound principles will be very high.

At the FBI, I spoke often about LeBron James. Even though I don’t know the man personally, I talked about him for two reasons. First, I believe he is the best basketball player in the world today. Second, he is never satisfied he is good enough. I have read that he spends every off-season working on some part of his game to improve it. At first glance, that seems crazy; he’s already better than everybody else. But it makes complete sense when you consider his perspective: he isn’t measuring himself against the other players; he is measuring himself against himself. The best leaders don’t care much about “benchmarking,” comparing their organization to others. They know theirs is not good enough, and constantly push to get better.

For me, and other ‘first timers’ [debut authors] I’ve spoken to, the primary concern is whether the story is good enough. With your first book there is no objective bench-mark you can judge it by. I felt very protective of the first draft; are people going to laugh when they read it or just shake their head? It sounds strange but the book was part of me. (Jon Gliddon interview on sevencircumstances.com)

Copy cats may seem good at what they are doing, but they will never find a spot at the top.

When changing times demand a really big shift in strategy, this inside view turns out to be even more of a problem. It’s an inside view of the wrong world, and you are caught blindsided. Rather than an ever-more-precise inside view, strategy needs an “outside view,” where data about the thousands of other experiences by other executives and their companies in other strategy rooms are brought into your own strategy room to shape the discussion. Why benchmark just your operational KPIs when you could have an equally compelling, objective reference point for your strategy? Why not calibrate how good your strategy really is against a broad set of comparative data?

Inequality makes people feel that the material goods they have are inadequate. We constantly want more, not because we need it but because we want to keep up with the Joneses. The more our friends and neighbours have, the more we feel that we need to match them just to feel like we’re doing OK. The data on this is clear: people who live in highly unequal societies are more likely to shop for luxury brands than people who live in more equal societies.21 We keep buying more stuff in order to feel better about ourselves, but it never works because the benchmark against which we measure the good life is pushed perpetually out of reach by the rich (and, these days, by social media influencers). We find ourselves spinning in place on an exhausting treadmill of needless over-consumption.

What is the 80/20 Principle? The 80/20 Principle tells us that in any population, some things are likely to be much more important than others. A good benchmark or hypothesis is that 80 percent of results or outputs flow from 20 percent of causes, and sometimes from a much smaller proportion of powerful forces.