The imbalance between effort and results is constant.
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Follow Pareto’s rule and put minimal effort into creating your digital identity to achieve much higher business profits in the long run.
The Pareto rule, or 80/20, determines an imbalance between effort and results that is constant.
- 20% of the time spent gives 80% of the results
- 20% of the product brings 80% of the revenue
- 80% of revenue comes from 20% of customers
- 80% of the profit comes from 20% of the time spent by workers
- 80% of sales are realized by 20% of sales staff
- 80% of complaints come from 20% of customers
Why is Pareto’s rule important in business?
It tells us the difference between our expectations and actual business relationships. It is in our nature to expect an equal return on investment, so we can spend too much time on the wrong things.
When selling, it is important to find that 20% of products, customers, workers, and their time as soon as possible, and to enable that 20% to develop unhindered.