Use the 80/20 Rule for Successful Empowerment

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.

The Pareto Principle

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. Continue reading “Use the 80/20 Rule for Successful Empowerment”