Most of us shrug our shoulders when first exposed to
the 80/20 rule in business. Eighty percent of revenue
coming from twenty percent of customers is usually
about right in any business but we still want anybody
who needs us and has the money to pay.
We don’t turn down small customers, we just need to
make sure we handle them profitably. Actually, a large
stable of little customers is less prone to disaster than a
small group of whoppers.
One value I see in 80/20 is making sure you don’t take
your customers for granted and spend all your sales
effort trying to recruit new ones. Studying revenue
produced versus time consumed on each customer
helps. More time spent on the bigger ones is smart. The
entire effort is positive.
There are some interesting parallels in personal life.
We become acquainted with lots of people over the
years, but relations with a small percentage of them
are the key to happiness. In turn, happiness and positive
attitude make success easier. How much time and
energy do I devote to relations with those who count
most? The answer might surprise you.
A famous leader in any field may have millions of fans
or followers but the health of his or her attitude
depends on just a few. The adoring millions are not
there when struggling with professional problems or at
the end of the work day.
Keeping your head on straight about key personal
relationships is basic to everybody. The difference
between millionaires and fast food workers is only
money. Struggling to budget a tiny income and pacing
the floor over a risky corporate takeover will both
make it hard to sleep nights. Either one can be handled
but is much easier when doing a good job with those
who are close.
We have each day only once. What we do with it is
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