The law of the few
The idea is that roughly 80% of the effects come from 20% of the causes.
This is backed up in all areas of life but in your business, the chances are that:
- 80% of your profit comes from 20% of customers
- 80% of your complaints come from 20% of your customers
- 80% of your sales come from 20% of your products
- 80% of your sales are made by 20% of your sales staff
You can improve your business by focussing on what makes the difference.
The question is how much of your day do you spend on dealing with the 80% that only return you 20%? With this mindset outsourcing your bookkeeping or using new technology like Xero which can do most of the work for you makes sense.
For a free demo of Xero give me a call and I’ll send you a video.