Using the 80/20 Rule to Grow Your Business
Episode 236 – The Local Small Business Coach Podcast
What the Pareto Principle Means in Your Business
Many of us are familiar with the Pareto Principle otherwise known as the 80/20 rule. This rule can be used in many ways when looking at your business. For example, 80% of your sales come from a core 20% of your customers (or leads). It could also mean that 20% of your processes result in 80% of your results.
By using the 80/20 rule, you can take almost any situation and focus on the stuff that matters. The things that will have the biggest impact in your business. So in today’s episode, we will take a look at a few examples and how you can use this principle to grow your business.
QUOTE OF THE WEEK: “80% of the effects come from 20% of the causes.” — Pareto principle
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