The 80/20 Principle Applied to your Business
In today’s quick tip episode I want you to focus on the 80/20 principle. The 80/20 principle is a way to look at your efforts whatever you are doing and asking, where are your results coming from? I would be willing to bet that 80% of your results coming from 20% of your effort.
Are they? You can apply this to any aspect of your business and most likely it will apply.
Today, take a look at the different areas of your business and apply it and see for yourself.
Test them on these areas:
- All your marketing (whats bringing in the best return)
- Your hourly sales (what hours are 80% of your sales coming in?)
- Your menu (what items make up 80% of your sales)
- Daily sales (what days make up the majority of your weekly sales)
The next step is to start the process of focusing all your efforts on the 20% and eliminating the 80% that is wasting your time and resources.
Thanks for listening to this episode. I would love to hear if you have applied this to your business and what was the result of those tests. Email me Bruce@smartpizzamarketing.com and tell me your story.
Look forward to hearing from you.