It’s one thing to run a business and it’s another to grow your business. The difference between the two is the use of the Pareto Principle, better known as the 80-20 rule. According to this principle, 80 percent of your results will come from only 20 percent of your efforts.
Since the aim of every business is to increase profits, a person who runs a business focuses on marketing and sales. Meanwhile, someone who grows a business will also focus on marketing and sales—but they will also apply the Pareto Principle to overheads. He or she will try to isolate the 20 percent of B2B services that increase 80 percent of the business’ performance.…Continue reading