For those of you in networking businesses, summer usually means a decrease in sales and sign-ups due to people going on vacations or otherwise not focused on business. You can use an important principle as a successful empowerment strategy and grow your business during those times when others are seeing a decline.
There is a principle out there called Pareto’s Principle, which has been known in the last decade as the 80/20 rule. There is a way to use this rule for successful empowerment in your business and grow your business during the summer, rather than see a decline in revenue. The 80/20 rule states that 80% of the effects come from 20% of the causes. Applied to business, this would equate to 80% of your sales come from 20% of your clients or 80% of your results come from 20% of your effort. You get the idea. In 1941, a business-management consultant named Joseph M. Juran named this principle after the Italian economist, Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population.
In network marketing, you may have heard that 80% of the people will say no to your opportunity, or won’t even agree to take a look. You then need to play the numbers game and find the 20% that will at least take a look at what you’ve got. They SAY they will look at it, but oftentimes you can’t get ahold of them to find out if they did. This won’t be the case for you IF you learn the proper skills and learn to manage those things that really make a difference in your results.
Be selective and focus
For instance, a lack of time is actually a lack of priorities. Being overly busy is a form of laziness, with lazy thinking and indiscriminate action. Be selective and focus on the important things you really need to accomplish. Make sure those things are income producing actions. Peter Drucker, a management theorist and author of 39 books said, “What gets measured, gets managed.”
In the past, I worked my networking business by playing the numbers game. I went through a lot of people and I was really tired of it. This scenario changed when I learned some skills that truly made a difference for me. They can make a difference for you as well. If you want to have the 80/20 rule work for you, rather than against you, then read the special note below:
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To your success,