{"id":2113,"date":"2010-07-24T13:56:15","date_gmt":"2010-07-24T03:56:15","guid":{"rendered":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/?p=2113"},"modified":"2010-07-31T09:42:11","modified_gmt":"2010-07-30T23:42:11","slug":"the-trivial-many-and-the-critical-few","status":"publish","type":"post","link":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/?p=2113","title":{"rendered":"The Trivial Many and the Critical Few…"},"content":{"rendered":"

Do you vigorously apply\u00a0Pareto’s Law to your business?<\/strong><\/span><\/p>\n

Pareto\u2019s Law (also known as the 80\/20\u00a0principle)\u00a0describes the unequal distribution of wealth in society and how it is acquired by a minority of the population. The Italian economist Vilfredo Federico Damaso Pareto discovered\u00a0this simple formula back in the early 1900\u2019s.<\/span><\/p>\n

The 80\/20 rule\u00a0allows business owners to determine whether\u00a0you’re on the right track or not and empowers you\u00a0to set\u00a0priorities and\u00a0take actions\u00a0which could mean the difference between failure, survival, and success.<\/p>\n

Applying the 80\/20 principle to your business is tough in\u00a0a recession. You have to be strong.<\/p>\n

Revenue: <\/span>If 80% of your\u00a0income comes from 20% of your customers then\u00a0take care of that 20% and reduce your contact with the other 80%.<\/p>\n

Customer Service: <\/span>80% of complaints come from 20% of your customers. That\u00a020%\u00a0make the\u00a0most unreasonable\u00a0demands and\u00a0give the least profit.\u00a0It’s time to say “no more” and direct them to your competitors.<\/p>\n

Marketing: <\/span>80% of your\u00a0sales come from 20% of your advertising efforts. Identify which advertising campaigns are successful in generating the most revenue and forget the rest.\u00a0<\/p>\n

Advertising online:<\/span> When applied to pay-per-click marketing, 80% of your keywords will not deliver results. Conversions, leads and sales will be generated by 20% of your keyword list.<\/p>\n

Time Management: As business owners, of all the tasks we perform each and every day, only 20% really matter. Those 20% are actually responsible for 80% of our results.<\/span><\/span><\/p>\n

I know, you knew all that already! <\/span><\/strong><\/span><\/p>\n

Parkinson\u2019s Law. Have you heard of it? Parkinson\u2019s Law states ‘work expands to fill the time available for its completion’.<\/span><\/span><\/p>\n

So\u00a0a task will\u00a0grow in perceived importance and complexity in relation to the time allotted for its completion.\u00a0 In other words, a task that should only take an hour to accomplish can easily take a week if you give it that much time.<\/p>\n

Too many of us spend too much time on the things that don\u2019t matter and not enough time on the things that do.<\/p>\n

\u00a0Parkinson’s Law is the adage<\/a> first articulated by Cyril Northcote Parkinson<\/a> as the first sentence of a humorous essay published in The Economist<\/a> in 1955:<\/p>\n

Work expands so as to fill the time available for its completion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Do you vigorously apply\u00a0Pareto’s Law to your business? Pareto\u2019s Law (also known as the 80\/20\u00a0principle)\u00a0describes the unequal distribution of wealth in society and how it is acquired by a minority of the population. The Italian economist Vilfredo Federico Damaso Pareto discovered\u00a0this simple formula back in the early 1900\u2019s.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[310],"tags":[303,288,304,307,308,302,309,306,305],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2113"}],"collection":[{"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2113"}],"version-history":[{"count":63,"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2113\/revisions"}],"predecessor-version":[{"id":2242,"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2113\/revisions\/2242"}],"wp:attachment":[{"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2113"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/bonzamobilecomputerrepairs.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}