How To Boost Your Sales By 500% Using This Principle

By: Dave Origano

Most entrepreneurs who've at least some experience must have heard about it already. Others might have heard the same in school during their economics, math or history classes. Another group act upon this principle and have increased their profits by a staggering 500 percent.

The principle I'm talking about is the Pareto Principle, or 80/20 rule. Invented by Italian economist Pareto in 1906 it still holds true. The Pareto Principle says that there is unequal distribution in every part of the world. Not only meaning population, expertise, goods or money. But also productivity, results and profits.

Let me share with you the implications of using the 80/20 rule.

About a year ago my business coach and I were discussing the busyness of modern society. Even we as business owners, who got into business to create a freedom life-style, were busy all day long. The current era is that of the 24-7 economy. We can do business all day long and as a result there of, a lot of business owners do.

My coach then told me about the Pareto Principle. Something I'd heard of in high school and also read about in various economic and marketing related books. But the true meaning never boiled down to me.

He gave me the assignment to 80/20 my business activities every two weeks. After using is successfully, having increased profits by 500% and working less then 10 hours a week on my business - I created this critical question list for my associates, who had the same problems I recovered from:

1. When I can do only one task this day, what would I do?
2. When I can do only one task this week, what would I do?
3. If I do only this task, would my company survive?
4. Does it add the most profits to the bottom-line, from all other activities?
5. What are the implications to not doing those other tasks?
6. Are there any essential, must-do tasks on my list - in order for my company to survive?
7. Can I outsource or somehow get others to do this task, below my own hourly rate?

Answer those questions on a bi-weekly basis. You'll soon discover that many of your activities should be done by others. By doing this you can focus more on the bottom-line and the big overview of your business. You'll see profits soar, you being more productive and less distractions coming between you and your goals.

Article Source: http://www.bigfreearticles.com

About the Author:
Dave Origano runs seven successful business, all doing at least 6 figures per year. Learn from this successful serial-entrepreneur how he does it, what marketing secrets he has and what strategies he uses at his website www.MrOrigano.com

Tags: entrepreneurs, business owners, sales, pareto principle, 80/20 rule, profits

Please Rate this Article

Comments

Share This Article - Quick and Easy Using This Button:

Add to Onlywire

Click the XML Icon Above to Receive Uncategorized Articles Via RSS!

Read More Articles From - Home | Uncategorized

Some Points About The Sound Quality Of DVD By: Victor Epand - DVD or Digital Versatile Disc is a special kind of disc that has a large storage capacity. This disc is mainly used for watching films and music. The sound quality of the Digital Versatile Disc is generally very good. But it depends on the quality of the discs. The more costly the disc you opt for the better will be the sound quality you get from it. The resolution of DVD sound is better than that of the CD. Even its sound quality is better than that of the CD.
Tags: sound quality, dvd, dolby digital, dth
Facts About How Pottery Is Made By: Victor Epand - The process of pot making is a rather intricate one, and over time, it has remained the same. Pottery begins as malleable clay, which is rolled into a long strand and coiled into a vessel or thrown on a wheel. The earliest vessels were made when strands of clay were coiled and the interior and exterior of the vessels were smoothed to create a consistent surface. This technique is still taught to children today. Then, around 4000 B.C.
Tags: pottery, make pottery, how pottery is made
The Best Tricep Exercises To Build Muscle By: Shawn LeBrun - The most effective tricep exercises to build muscle Much like there was for biceps, there are two tricep exercises that are above the rest in terms of effective muscle building stimulation. If you want bigger, fuller looking arms, work more to build muscle on your triceps. Triceps (3-headed) make up more of your arm than do biceps (2-headed). Most people are so preoccupied with biceps training that they forget about triceps. Building more muscle on your triceps mean bigger arms.
Tags: build muscle, muscle building, bodybuilding diet, workout program, gain muscle, muscle builder
Try An Asset Protection Trust In Mauritius To Pass Your Assets On To Your Family! By: Ramapati Singhania - An asset protection trust is an arrangement for the holding and administration of property under which property or legal rights are vested by the owner of the property (the Settlor) in a person or persons (the Trustees). * The Trustees then hold the property for or on behalf of other persons (the Beneficiaries). * It is essential that the transfer is gratuitous otherwise the transaction takes on the characteristics of some other legal entity.
Tags: asset protection trust, asset protection strategies
Used Books Available At A Variety Of Stores By: Victor Epand - There are very few campus book stores that do not allow college students to sell their used text books back to their stores if they are in reasonably good condition. In fact, many local used books will purchase college text books simply due to the fact that they are one of the best sellers, especially if the used books store is located near campus or has an on-line web site.
Tags: used books, recreation, pleasure, leisure
Taking Care Of Autographed Books By: Victor Epand - Collectors of autographed books often have a couple really favorite autographed books within there collections that they truly enjoy displaying for others to see, but yet they are still constantly worrying about protecting them. One way that collectors or individuals can protect and preserve their autographed books is by simply displaying them on a stand that has a clear plastic film for covering up the pages.
Tags: autographed books, care
How to Build Up Muscle By: Ranju Kumar - Many individuals are seeking information on how to build up muscle. When someone starts a muscle building program, it is quite likely for them to discover that it is not an easy task at all. The good news is that there are several ways that one can build muscle mass in the body quickly and in a healthy manner. Are you interested in body building and sculpting If so, you will benefit in many ways by reading this article.
Tags: body building, female body building, body building workout, natural body building, body building sec
Advice To Those Using Car Hire Services In The UK By: Thomas Pretty - With such a large number of car hire companies within the UK it is understandable that so many people are often bewildered with which one to choose. Ultimately you want to find a company that combines a low price with good levels of service. In addition, it is important to recognise what type of car you will need and any insurance inclusions you will need to add to the rental agreement.
Tags: car hire uk, uk car hire, car rental uk, uk car rental services
Telephone Conference Calls Available On Your Personal Phone By: Charles Cox - Telephone conference calling is utilized on a very large scale every single day in businesses all around the globe. But did you know that they have also gotten quite popular for personal use from home? At work, you have most likely used teleconferences for attending meetings with clients or colleagues at other company locations of your company. These types of audio meetings are usually a somewhat regular occurrence for many retail store managers.
Tags: telephone conference calls, telephone conference calling
A Genital Wart Medicine Primer By: Charles Cox - A genital wart is a sexually transmitted disease that is the result of the Human Papilloma Virus (HPV). These warts expose themselves in many different variations, but they are just about always flesh in color, and are usually raised bumps on or around the genital region of the body. Both men and women are prone to get genital warts, but there are some very effective treatments available for this problem. Genital wart medicine can range all the way from topical treatments to injections, and some may require ongoing treatments.
Tags: genital wart medicine