User Power
Value/Post Ratio
126%
- Oct 14, 2012
- 216
- 272
Tim Ferris explains in the four hour work week, which I'm currently reading. How the 80/20 principle saved him from depression
and doubled his profits by doing LESS.
Here are two truisms that really made alot of sense to me :
1 Doing something unimportant well does not make it important.
2 Requiring a lot of time does not make something
You probably have done so already but maybe just having 1-2 big objectives a day that bring you a step closer to your goals?
Stripping down to the 20% that produces 80% ?
Tim said he had 120 wholesale customers and only five were bringing in 95% of the total revenue.
He spent 98% of his time chasing the others, because the five that did order. Unlike the majority. Ordered without being
persuaded or called up again. He claims 100% of his stress and problems were coming from the customers
who he was chasing around.
So he took a more passive approach with them, no more emailing or attempts of persuading. If they ordered good
if not he ensured he never chased. Then by focusing on only those top 5 customers Tim identified their common characteristics
and secured three more, who were similar.
He then focused on simply duplicating his strengths. In this scenario that would be his top producers and focused on increasing the size and frequency of their orders
Thus equaling less stress and effort and much more profits and happiness .
Hope you can take something from that
and doubled his profits by doing LESS.
Here are two truisms that really made alot of sense to me :
1 Doing something unimportant well does not make it important.
2 Requiring a lot of time does not make something
You probably have done so already but maybe just having 1-2 big objectives a day that bring you a step closer to your goals?
Stripping down to the 20% that produces 80% ?
Tim said he had 120 wholesale customers and only five were bringing in 95% of the total revenue.
He spent 98% of his time chasing the others, because the five that did order. Unlike the majority. Ordered without being
persuaded or called up again. He claims 100% of his stress and problems were coming from the customers
who he was chasing around.
So he took a more passive approach with them, no more emailing or attempts of persuading. If they ordered good
if not he ensured he never chased. Then by focusing on only those top 5 customers Tim identified their common characteristics
and secured three more, who were similar.
He then focused on simply duplicating his strengths. In this scenario that would be his top producers and focused on increasing the size and frequency of their orders
Thus equaling less stress and effort and much more profits and happiness .
Hope you can take something from that