Most of us have heard of the 80/20 Rule. Few of us have considered its practical use.
Test the following examples of the 80/20 Rules as they apply to Your Business:
*80% of our business comes from 20% of our Customers.
*80% of our revenue comes from 20% of our products or services.
*80% of complaints come from 20% of our Customers.
*80% of our internal HR issues stem from 20% of our employees.
*80% of our sales are generated by 20% of our salespeople.
Sound about right???
It is important for entrepreneurs and executives to develop a clear understanding of their 20% areas. It is also vital that they help their employees define the areas in each of their respective departments.
These areas, your RESULT DOMAINS are where performance resides.
Result Domains are those areas where your greatest attention is required. Focusing upon them with efficiency can lead to dramatic results. The majority of your organization’s time and resources should be allocated to these areas.
Accountability metrics should be derived and driven around Result Domains.
Focus on your 20% areas and watch your business grow.
Copyright © Joe Zente 2010. All Rights Reserved.
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