When business owners get stuck working ‘in’ the business, there are two things that business owners start to find challenging very quickly: thinking ahead and doing things in order of importance.
Losing control and not doing these two key activities make the difference between just surviving in business and owning a successful, profitable and predictable business that works harder than you do. And the same is true for many areas of our lives.
Leadership trainer and author John Maxwell says, “Thinking ahead and prioritising responsibilities marks the major differences between a leader and a follower.”
Most people have heard of the Pareto Principle, more commonly known as the 80/20 Principle, more accurately described as the ‘Law Of Disproportionate Results’. on most things when measured, is not exactly 80 percent and it’s not exactly 20 percent;but they are very typically skewed to those numbers.
So in business, as an example: roughly stated, this says that in most businesses 80 percent of your business comes from 20 percent of your customers, or 80 percent of your profit will come from 20percent of your products, and 80 percent of your headaches will come from 20 percent of your customers, etc.
So… when it comes to your priorities, 20 percent of your priorities will give you 80 percent of your productivity IF you spend your time, energy, money and personnel on the top 20 percent of your priorities.
When you do this you are getting a 400% or four-fold return in productivity. Stop for a moment and think what this would mean in your business!
Every business owner needs to understand the Pareto Principle, as it applies to the areas of customers, team and leadership.
In the area of customers, it is vital to identify the 20 percent who account for 80 percent of your business. These are your “raving fans” and strategies must be put in place to care for them appropriately.
For your team, you must identify the top 20% producers. Spend 80% of your people-time with these people to develop them to their full potential.
Sometimes I jokingly say, that business owners are masters at finding the 80% of tasks to do which gives them only 20% of the result, thereby owning a ‘busy-ness’ rather than a business.
If you are serious about achieving more productivity in your business, then take an honest look at the question – “What do I have to do that no one else can do?” Remember a leader can give up everything, except final responsibility.
You can decide whether you will be reactive or proactive when it comes to the use of your time. The question is not, “Will I be busy?” but instead, “How will I invest my time?”. It’s not “Will my calendar be full?” but rather, “Who will fill my calendar?”. It’s not “Will I see people?,” but, “Who will I see?”
Do this and watch your productivity and personal satisfaction rise to new heights!
If you would like to learn more about how Business Growth Leaders could maximise the performance of yourself and your business contact our team for more information and help. Or book directly into a strategy session where we will show you how to double your profit and halve your working hours in a quick 10 minute call.
PS. Whenever you’re ready... here are 4 ways I can help you grow your business:
Grab a free printed copy of my book
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Join our Play Bigger Online Program and scale your online success
If the goal for your business to play a bigger game online even if you have tried and failed or only achieved mediocre results to date. Join our Play Bigger Online coaching community. If you’d like to work with me on your client-getting and scale plans online... just reply to this message and put “Play Bigger” in the subject line or hit me up directly on Messenger and type in Play Bigger — Click Here
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As a business owner you are not the right person to be editing your website, loading up your facebook ads and the thousand other things that is needed in a modern business. Find out how my team of tech pro’s can help take this off your hands, and get you to your goal faster….for less than $100/week — Click Here
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If you’d like to work directly with me and my team to grow your business rapidly... just reply to this message and put “Private” in the subject line... tell me a little about your business and what you’d like to work on together, and I’ll get you all the details!... or you can do the same on Messenger — Click Here