The Secret Of The 80/20 Rule

The Pareto principle is a principle that states that for most things, 80% of consequences come from 20% of causes. This is also known as the “80-20″ rule. For example, it’s likely that you wear 20% of your wardrobe 80% of the time. The same is true for your business, in that 80% of your business will likely come from 20% of the clients you have.

Although it seems to be good business practice to many, it’s actually unfortunate that most people will spend 80% of their time courting the 80% of their clients who don’t bring in business.

The flipside of this is that 20% bring in most of your business. Therefore, 20% of the tasks you do each day will bring the majority of your business. If you want to streamline your business and spend your time where it really counts most, consider the following:

Spend the bulk of your time dealing with your best customers. [Continue Reading]