20/80 Pareto principle in business

June 20, 2019 Post tags: why | rule | business |

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Follow the Pareto rule and set about to make your digital identity and achieve more business profitability in the long run.

The Pareto rule or 80/20, establishes an imbalance between the effort invested and results accomplished that are constant.

Example:

  • 20% of the time spent gives 80% of the result
  • 20% of the product brings 80% of revenue
  • 80% of revenue comes from 20% of customers
  • 80% of the profit comes from 20% of the employee’s
  • 80% of sales comes from 20% of sales staff
  • 80% of complaints come from 20% of customers
  • Why is Pareto rule important to business?

It points to the difference between our expectations and real business relationships. It’s in our nature to expect the same return on investment, so we can spend too much time on the wrong things.

When selling, it’s important to find these 20% of products, customers, workers and their time as soon as possible, and allow these 20% to develop unhindered.

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