The 80-20 rule, also known as the Pareto Principle, asserts that 80% of outcomes result from 20% of all inputs.
Here is how it applies to agency business and how the founder can use it to her advantage.
|1||Which 20% of clients bring 80% of profits/revenues||Focus on them|
|2||Which 20% of clients create 80% of headaches||Fire them|
|3||Which 20% of employees bring 80% of performance||Nurture and train them|
|4||Which 20% of employees create 80% of headaches||Fire them|
|5||Which 20% of activities create 80% results and revenues for you||Do more of them and reduce the rest 80%|
|6||Which 20% of services/solutions bring 80% results for clients||Focus on those services because clients are happy to pay for results. Your business will grow faster|
|7||Which 20 people make you most comfortable and do the best for you. Include family and friends — include select clients if they belong in this group. Start with yourself. Why? Because you can’t enjoy success if not fulfilled||Focus on these 20 before you attend to the next 80|
|8.||Which 20% part of the work day you are most productive||Schedule your most impact/growth-creating action during that time.|
Do you already do any of these intuitively?