Here's the key --> Apply the 80/20 Rule
The 80/20 Rule was created by Wilfredo Pareto. He determined that 80% of the wealth in a country is controlled by only 20% of the people.
While that's an interesting statistic, it's only a sample of the incredible power of this principle when you actually begin to implement it.
Think about this...
20% of the roads handle 80% of the traffic!
20% of the companies generate 80% of the revenues!
20% of the sales reps in a company generate 80% of the results! (Hmm. Interesting!)
20% of your customers are responsible for 80% of your revenues!
And the list goes on and on.
How can you use the 80/20 Rule in your business?
Here are a few quick ideas you can use right away:
- Identify which 20% of your products generate 80% of your revenues
- Identify which 20% of the associations you belong to generate 80% of your referrals
- Identify which 20% of the social networking sites generate 80% of your online leads
- Identify which 20% of your scripts close 80% of your sales
The best part of the 80/20 Rule is that there are so many ways to use it.
Commit now to think about how to apply the 80/20 rule to your business each and every day.
This is just one of the many ideas I will share with you on 101 Time Management Ideas.
Imagine all of the time you will have for the things you love to do when you learn the secrets to working smarter, not harder. Start leveraging your time today and get more done in less time.