What’s the value of having a clear focus?
That’s a very good question, one that’s difficult to
evaluate.
Luckily for us, Pareto, the Italian genius behind the Pareto
Principle (or the 80-20 Rule), provides some clues.
Some quick examples of this are:
80% of revenues are generated by
20% of the total customer base
80% of business results are created
by 20% of employees
80% of total sales are driven by 20%
of the salesforce
80% of the actionable information is
conveyed by 20% of the content
80% of progress is achieved by 20%
of all innovations
In any key area (customers, activities, products, services,
sales), seek, find and focus on your vital few, the critical 20% of factors that drive crucial
outcomes. Those are your top priorities, today, tomorrow and the
next day.
Apply these basic calculations to your own organization, and
they may reveal some surprising results.
The 80-20 Rule provides a means for determining whether or
not you’re working on the right things at the right time. It also provides a
method for assessing implementation processes and outcomes.
The 80-20 Rule demonstrates that less can be more, but only
when you’ve targeted those vital few elements that produce the greatest
impact.
What’s the value of focus? It's priceless.
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