Some time ago an Italian named Vilfredo Pareto made a surprising discovery, 20% of the population owned 80% of the land. This principle is known as the Pareto Principle, which can be applied to many areas, including the area of business and is one of the great secrets for the success of a company.
20% of an entrepreneur's priorities will give him 80% of his results. Hence the importance of paying close attention to the daily priorities that you have, as this 20% that we will call "daily focus" will produce 80% of your results. We can consider the “daily focus” as the time, energy and money that you invest daily in your company.
When an entrepreneur pays close attention to his "daily focus", he can get up to 400% return on productivity and results of his company.
Hence the importance of understanding and applying the Pareto Principle both by the employer and by his work team.
To apply the Pareto Principle, you must first identify 20% of those clients that represent 80% of your company's business. What if you dedicate yourself to taking care of these clients? Yes, I mean to give them better conditions, keep them informed, turn them into VIP clients. What do you imagine will happen? When they feel better taken care of by your company, they will start to buy more and more. Don't you think
Now imagine that you identify the 20% of your best salespeople who generate 80% of your sales and you dedicate yourself to training them better, offering them better conditions and a reward system. What do you imagine is going to happen? The answer is simple, more and more sales.
What if now you identify 20% of the best-selling products of your business, if those that surely generate 80% of sales and you dedicate yourself to promoting them better, advertising them more, or giving some incentives or prizes. Do you agree? in which much more would be sold and your income will grow?
As you will see, the Pareto Principle is key to the growth of a business and the great secret to growing a business is that you as a leader and entrepreneur begin to apply it in your business and especially in yourself.
To apply the Pareto Principle in your person, the first thing we have to do is to first identify your personal 20%, that is, everything that will generate 80% of those results with which you have always dreamed, I mean all those results that you want for your life, to improve your quality of life, among these results it will be sure that your business grows, and provides you with everything you have always dreamed of, such as buying that house that you like so much, taking the trip that you have always wanted to buy for your family those clothes or items they want, etc.
Now imagine that you take action and improve these critical areas, you begin to train yourself better as an entrepreneur, to read about leadership and business issues, you attend workshops and conferences for business development, you train yourself in how to better use your time, to take care and To improve your health and physical condition, to pay close attention to your thoughts and attitudes, you hire a coach to teach you about this topic and give you follow-up. What do you imagine will happen to you and your company if you use the Pareto Principle? The answer is that you will improve and grow a lot and your company too.
Business Partners TIP: Take action today, pay close attention to your "daily focus" on your personal 20%, analyze yourself, observe yourself and start working with yourself in those critical areas that will generate 80% of your results. Hire a business coach to teach you how to apply the Pareto Principle and follow up.
