Sep 02 2007
80% of Everything You Do is Wasted…
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20% of your staff produce 80% of your profit, 20% of the items on your menu produce 80% of your sales.
This alarming ratio is known as the Pareto Principle, named after its discoverer an Italian economist.
Every business owner should regularly go through their business, hunting down every possible occurrence of it.
You are looking for the sources waste and sources of prime productivity. Which of your staff are producing the highest average dollar sale. Which of your products are producing 80% of your sales. Which 80% of your Advertising budget is wasted and which 20% is producing 80% of the results, now apply the wasted budget to doing more of the productive stuff.
What 80% of your management time is wasted on stuff that only produces a mere 20% of your results.
You will find this alarming ratio is present in every facet of every business, in fact you will find it in every facet of your life.
Your job is to look for it and IMPLIMENT CHANGE.
Just think, if you only do 20% of what I’m suggesting you may get 80% better results 
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