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This Week: Think 80/20

For most aspects of your business, a majority of your results (good and bad) are driven by a minority of something else:

  • 80% of problems can be attributed to 20% of causes.
  • 80% of profits come from 20% of customers.
  • 80% of complaints come from 20% of customers.
  • 80% of profits come from 20% of a CEO’s time.
  • 80% of sales come from 20% of products.
  • 80% of sales are made by 20% of sales staff.

80/20 thinking helps you focus on the few things – a customer segment, your leadership tasks, your true market advantage – that matters most to the success of your business. The data is there to tell you what you have to do. You just have to look.  

This Week:

List your company’s top major activities and rank them based on impact. Or, run the numbers to find where 80% of your results are coming from. Then create a mini action plan to increase a good result or reduce or eliminate a bad result.  If you want, send me your plan by Friday. I’ll send you my thoughts.

~Tony Collins

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