You have probably already heart of the 80/20 rule, also known as the Pareto Principle.  It says that 80% of your results will come from 20% of your actions..  The question is – are you paying attention to this rule in your business?

Case Study:

I worked with a dentist awhile back whose front office team was feeling over loaded.  After reviewing the situation, it was clear that they were spending a lot of their time calling patients who were over due for appointments and trying to get them scheduled.  Additional time was then spent on managing these unmotivated patients as they cancelled appointments and didn’t pay their bills 

When I suggested to the dentist that they identify and stop calling the 20% of patients that did not keep appointments or pay their bills he was concerned, but he went with it.  Within months he was able to see and appreciate a schedule full of patients that respected his business and were a pleasure to serve.  His front office team was happier, more effective, and had more time for their quality patients.  The dentist was very grateful that he had used the 80/20 rule to his advantage.

How can you apply the 80/20 rule to your business?

It starts by evaluating what is working.  Which actions are bringing in 80% of your results?  Focus your energy on those actions and let go of spending extra time on the things that are not working as well.  There are still areas you may want to play with, but you don’t need to spend as much time there.

Here are some questions that will help you get started:

• Who are your top 20% clients and how can you best serve them?
• What marketing strategies brought in these top clients?
• How can you focus more on these strategies that are working well?
• What are the most effective actions you can take to make your business a success?
• What can you stop doing that will allow you more time for your most effective actions?
• Who can you delegate to or hire to take over the menial tasks that keep you too busy?
• Which social media sites are most effective for your business?
• How much time should you spend on the computer vs. getting out and connecting with people?
• What programs and products can you create that will draw in more people like your ideal clients?

If only 20% of what you do is contributing to 80% of your success it would follow that you could potentially work fewer hours or have more time to grow your business by focusing on what really works..

Sounds pretty good, doesn’t it?

If you would like support in becoming more effective in your business, email: simplesmartbusiness@gmail.com for a free consultation.

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