The Parthenon Principle
Here is the basic concept of the Parthenon Principle:
Small improvements in multiple areas can result in large improvements in results.
The key here is the cumulative effect. For example, when selling a house, if the kitchen is newly remodeled, it adds value to the house. But, if the bathrooms are also newly remodeled, that ads more value. Add in a finished basement, new windows, a new furnace, etc. the house is highly valued.
Same happens with business. In fact, the rule is there is an increase of just 10% in each of the seven areas of business:
This can virtually double productivity and profitability of a business with the cumulative effect.
What 10% improvement in each of these areas can be made in the business starting today?