The 80/20 Rule

The 80/20 Rule

Have you heard of the 80/20 rule? Basically it says that 80% of all your money, comes from 20% of all your efforts. 80% of all your headaches, come from 20% of all your employees or software programs. It's a well known principal but one that's not considered enough when assessing your company. So today, I invite you to evaluate your business and evaluate what's bringing in the most money and equally important, what's causing the most headaches.What's holding you back?You know that one program that you dread working with? The one where something always seems to go wrong? Every business has one. Yet we keep using it because it's the cheapest alternative or because the thought of switching over to something else seems too daunting. So instead we spend hours upon hours yelling at the computer or on the phone with customer support. Hello! It's time to get over it and find an alternative. Save yourself a headache and spend your time doing what you do best (which I know is not waiting on hold for another customer service representative.)Can't replace the program? Find an expert to do it for you. Let's put it in perspective. If 80% of your time and energy is going into fixing a problem that someone else could be doing easier without any pain, then why do you even bother? If you spend the same amount of time marketing and selling your products or services, you'll earn a lot more money right? And more importantly, you'll be a LOT happier. Trust me, it's worth it.

Where is your money coming from? Let's say you have ten clients. Of those ten, I assume there is at least one that calls you every day and questions everything you do. And on the other side of the spectrum, you have at least one client who never questions you and you only hear from during your weekly or monthly meetings. For me, the second person is your ideal client. Someone who trusts you and allows you to do your job. Yet you hold on to the first client because.... you need the money? Is it really worth it? Just imagine if you didn't have that first client. Most likely you'd be out of 1/10th of your paycheck, but you may free up 1/2 of your time; time that can be spent finding more of your ideal clients.

Now's the time to scrutinize and reassess every angle of your business. Where are you cutting back? Where do you see the results? Leave a comment below and let us know; I love the motivation.

Until next week, cut back, relax, and enjoy life!

Marley

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