If your business is not growing, you need to get a handle on the way you’re running it. Many business owners tend to spend a great amount of time performing unnecessary tasks that contribute little to the growth of your business. The 80/20 rule, otherwise known as the Pareto Principle, teaches that only 20% of your actions should lead to 80% of your results. Get a handle on your business by putting the 80/20 rule into effect and identifying high payoff tasks.
The 80/20 rule isn’t just another ordinary time/business management method; when used effectively, it holds the power to drastically increase your income and free up valuable time, allowing your business to grow.
If your business is struggling, you can use the 80/20 rule to identify high payoff tasks. If you are currently working ten hours or more each day, put the 80/20 rule into action to finally take back control of your life. By doing so, you’ll be able to move past the fruitless tasks that make up 80% of your business and take up most of your time.
To review the entire article, go to https://www.linkedin.com/pulse/use-8020-rule-grow-your-business-anne-bachrach?published=t.