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Actual for You - Business Growth Strategy: How Do You Use Pareto Analysis To Focus Efforts On Your Clients' Benefits?
Perfection is what everyone is striving to achieve! Well, perhaps the ones still wanting, but not achieving, success. Perfection is a killer in the business world. Perfection is one of the main reasons companies today have declining numbers, high turnover in staff and no growth overall. Per
Cross-training the staff will build flexibility into these sensitive activities.
How do you focus your best efforts?
Understanding the 80/20 rule helps to unravel the averages and aggregations in your business to expose the insights that will help you grow. How can you reduce 80% of your wastag
Ike Clanton had nothing with his cowboy renegade outlaws compared to the new gangs of the internet!The old wild west...where outlaws were king...free to roam, rape, pillage...basically do whatever they wanted to whom ever they wanted. Gangs of men who roamed the plains in search of victi
So my task is to coach the team to perform better, to survive and ultimately to thrive on their success.
What is the 80/20 rule?
I explained to the team that commonly 80% of results are produced by 20% of causes. Applied to sales revenue, this idea gives you plenty of levers with which to control and manage your situation:
Observation 1: 80% sales come from 20% customers.
Printing out the cumulative sales ledger by value enabled us to identify the important customers. We will focus our sales effort on these few, important businesses. Interestingly they tend to buy single product types at present, so cross-selling several products to them will immediately boost sales revenues while reducing the team's invoicing task.
Observation 2: 80% profits come from 20% products.
Tracking the actual profitability of products enables us to raise the prices on strong products and only offer discounts on the weak products.
We will bundle two or three ‘low profit’ products that complement a high profit product.
We are prioritising the production schedule, inventory investments and delivery dates to favour high-profit products and we might discontinue some low-profit products.
Observation 3: 80% costs come from 20% activities.
We plan to manage only the high-cost activities. For instance, some high cost materials will only be processed ‘just in time’ for their assembly and finishing activities.
Cross-training the staff will build flexibility into these sensitive activities.
How do you focus your best efforts?
Understanding the 80/20 rule helps to unravel the averages and aggregations in your business to expose the insights that will help you grow. How can you reduce 80% of your wastag
Giving a personalized touch to the banner that you use for promotion of any other purpose can make it look it really attractive. Chances are that you will never find the kind of banner that you are looking for, so it is best for you to make custom banners. The best part of making custom banner
Observation 1: 80% sales come from 20% customers.
Printing out the cumulative sales ledger by value enabled us to identify the important customers. We will focus our sales effort on these few, important businesses. Interestingly they tend to buy single product types at present, so cross-selling several products to them will immediately boost sales revenues while reducing the team's invoicing task.
Observation 2: 80% profits come from 20% products.
Tracking the actual profitability of products enables us to raise the prices on strong products and only offer discounts on the weak products.
We will bundle two or three ‘low profit’ products that complement a high profit product.
We are prioritising the production schedule, inventory investments and delivery dates to favour high-profit products and we might discontinue some low-profit products.
Observation 3: 80% costs come from 20% activities.
We plan to manage only the high-cost activities. For instance, some high cost materials will only be processed ‘just in time’ for their assembly and finishing activities.
Cross-training the staff will build flexibility into these sensitive activities.
How do you focus your best efforts?
Understanding the 80/20 rule helps to unravel the averages and aggregations in your business to expose the insights that will help you grow. How can you reduce 80% of your wastag
Here is my personal list of things to do at your networking group:(1) Bring your business cards. Sound simple? Well, I regularly meet people at networking groups who have forgotten their cards or their cards are at the printers. Keep an ample supply in your car, briefcase, and pockets; y
Observation 2: 80% profits come from 20% products.
Tracking the actual profitability of products enables us to raise the prices on strong products and only offer discounts on the weak products.
We will bundle two or three ‘low profit’ products that complement a high profit product.
We are prioritising the production schedule, inventory investments and delivery dates to favour high-profit products and we might discontinue some low-profit products.
Observation 3: 80% costs come from 20% activities.
We plan to manage only the high-cost activities. For instance, some high cost materials will only be processed ‘just in time’ for their assembly and finishing activities.
Cross-training the staff will build flexibility into these sensitive activities.
How do you focus your best efforts?
Understanding the 80/20 rule helps to unravel the averages and aggregations in your business to expose the insights that will help you grow. How can you reduce 80% of your wastag
What if you created the Worlds best MindMap to assist humans in using all of their knowledge, experience, observations and education to make the very best decisions for themselves, their companies, their government, their communities or children of the World? If you had such a thing who would y
We will bundle two or three ‘low profit’ products that complement a high profit product.
We are prioritising the production schedule, inventory investments and delivery dates to favour high-profit products and we might discontinue some low-profit products.
Observation 3: 80% costs come from 20% activities.
We plan to manage only the high-cost activities. For instance, some high cost materials will only be processed ‘just in time’ for their assembly and finishing activities.
Cross-training the staff will build flexibility into these sensitive activities.
How do you focus your best efforts?
Understanding the 80/20 rule helps to unravel the averages and aggregations in your business to expose the insights that will help you grow. How can you reduce 80% of your wastag
No matter what you do, there will come a time when a customer will ask for a refund for some reason or another. Do you give it to them? That depends. If you have an unconditional money back guarantee, there's no question. Refund the money -- no questions asked. What if you have no stated guaran
Cross-training the staff will build flexibility into these sensitive activities.
How do you focus your best efforts?
Understanding the 80/20 rule helps to unravel the averages and aggregations in your business to expose the insights that will help you grow. How can you reduce 80% of your wastage and invest into extra sales growth?
Following this idea, my client plans to review his business annually, then his team will avoid burn-out as they grow the business.
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