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Stocks, products, services, insurance, litigation, people- 80:20 Rule keeps coming up! Look for it and you'll find it.
The universality of this principle should be a powerful guide for you in business. Find out how it applies to your enterprise, and you have power to set vital priorities which will mean difference between failure, survival, and success. Take time now to look at your business. Look at where results are coming from, and concentrate on those areas. Look at some of these areas...
- Have a product range? Have a look at how much of your profit comes from each item. Put your effort into 20% that give you 80% of your sales- your winners.
- Selling products or services? Most likely, 80% of your sales come from 20% of your customers- ones who make big purchases and are repeat-buyers. Cherish that 20%.
- Have a sales force? Have a look at how much of your profit comes from each person. Make sure you reward and retain 20% that are your winners.
- Have an affiliate program? Find top 5-20% who give you 80% of your income, and make sure you support, encourage and reward your winners.
- Do advertising? Have a look at where sales come from. Then identify few ads that really pull, and few places where you run them that really produce. Then refine your winning ads, and run them in those few places that give you best results.
Run 80:20 Rule over YOUR business today. It will save you time, effort, money and resources, and take you further down road to business success. Bon voyage!
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John Payne, a lifetime Marketer, is "The Human Face of Web Marketing". Each week his Web Marketing Ezine shows over 6000 readers in more than 56 countries how to succeed, with a uniquely human emphasis on the business of Web Marketing. To get your free subscription visit http://www.WebMarketingEzine.com NOW!