The 4-50 Rule

Jay Arthur
888-468-1537
303-756-9144
KnowWare International, Inc.
DBA LifeStar
2253 S. Oneida
Ste 3D
Denver, CO 80224

We work with companies
that want to fire up their profits using
Lean Six Sigma

Copyright © 2011

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?
(Hint: Figure out their motivation style and tailor all of your marketing to attract only the top 4%.)

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?
(Hint: Figure out their motivation style and tailor your hiring practices to attract more employees just like the top 4%.)

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.

© 2008 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, support@qimacros.com.

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