The 4-50 Rule | |||||||||||||||||||
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The 4-50 Rule Every once in awhile, I catch myself majoring in minor things. I start spending too much time on the minutia and not enough time on the vital few things that make the business grow. You've all heard of Pareto's 80-20 rule: 20% of the business produces 80% of the results. But I have found that Pareto's 80-20 rule also applies within the 20%. This means that as little as 4% of your business effort produces over 50% of the overall benefit. What would it be worth to you to work on that small part just a little bit more often? Who are the top 4% of your customers or clients? What can you do to WOW them?
What can you do to attract more customers like them? Who are the top 4% of your suppliers? What additional business can you transfer to them to eliminate some of the problems you have with other suppliers? What are the top 4% of your products or services? How can you adapt these concepts to other markets? What can you do to expand it into a full buffet (e.g., cell phone-digital cameras) or chunk it down into an ala carte menu? Who are the top 4% of your workforce? How can you hire more people like them?
How much more productivity and profits could you wring out of your business
if you just spent a little more time each day on the top 4%? When you change your mind, you change your life.
© 2007 Jay Arthur, the KnowWare® Man, works with companies who want to plug the leaks in their cash flow and people who want to master the mysteries of the mind.. To have Jay Arthur to train your staff, contact Jay at (888) 468-1537, lifestar@rmi.net.
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© 2007 KnowWare International Inc. (888) 468-1537 |
© 2003 Jay Arthur (888) 468-1537 | |||||||||||||||||
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