Andy Black
Help people. Get paid. Help more people.
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And that 80/20 is fractal in nature. Do 80/20 twice and you end up with 64/4.The biggest paradigm shift for me was Pareto's law, the 80/20 principle. I try to use it as much as possible as it is so powerful, especially in business. Knowing there is a big disparity between related figures that you can then use for your advantage is very enlightening.
For example knowing that 80% of your profits will come from 20% of your products and 80% of your sales will come from 20% of your customer base. So finding ways of reducing the costs of those top selling products and identifying the commonalities of your best customers so you can focus on marketing to similar audiences will make a huge difference to your bottom line with the least amount of time and effort.
We should all be leveraging the Pareto principle wherever we can.
Half our results could be coming from only 5% of our input.