What's Your Most Important 20%? (Part 2 of 2)

In my last ezine article, Whats Your Most Important 20 Percent, the article was based on where your 20 Percent effort was most effective. Now we are focusing on whether 80% of your sales come from 20% of your clients or does 20% of your team members produce 80% of your team's sales and/or provide 80% of your team's recruits?

The 20% of the causes, which create your sales, recruits, or whatever results you value, is sometimes referred to as your "vital few" and the other 80% of your causes as the "trivial many".

How can this help your business? When you recognize that there is ALWAYS an imbalance between your time and energy, and the results you receive, you can stop treating all your efforts (or customers or team members) as equally important and then zoom in more on the specific efforts that will make a difference.

Let's start by asking yourself this: In your business, what are your vital few and your trivial many?

To get the answer, divide your customers into 3 groups. If you're a direct seller, repeat this exercise with your team members.

your vital few (your best or most ideal customers) who generate most of your sales,

the bottom (those who are a problem, no-shows or never buy),

and put everyone else into a middle group.

First, make sure that you are consistently and frequently in touch with your top 20% - of your customers and/or your team members. This group is giving you 80% of your results. Are you servicing them – providing them with information, opportunities, special deals, training, whatever they need – on a regular and consistent basis? Is there more of anything they need?

Alternatively, can they still perform at their current high level with less of your involvement? If they are performing at the 89% level already, will it help you to get them up the last bit from 89% to 100%? Probably not. On the other hand, if it WILL help you as well as them to lift them up even more, then spend more energy with them.

Next, look at the bottom group. Recognize that they are in the bottom by their choice. You’ve reached out to them and they’ve said: No thanks. Until they have some motivation to change, they are going to stay in the bottom group. For now (not necessarily forever) – mentally release these people from any expectation. Keep them on your mailing list but when it comes to them taking action, the ball is now in their court.

Now, let’s focus on the middle group. Most likely you can get more results (profits, recruits, whatever result you’re looking for) by increasing your activity with this group. Why? The vital few are already at or near their maximum potential, so you likely can't get more results from them without expending a lot of effort.
The middle group probably has people in it who’ve said Yes once (or more) to you, but they’ve also said No once or more. So this group has demonstrated the potential to be attracted to you AND the potential to participate in whatever you offer.What can you do to engage the middle group MORE? Do they need more education about your offer? Do you need to reach out to them in a new way (social media, video, snail mail)?

CALL TO ACTION

Do the sorting procedure above - I think you'll be surprised at how much of your business results come from a very small group.

Once you know that, then you'll be on firmer ground as you consider where to spend the next bit of your time and energy. Should it be the vital few or the middle group?

If this is feeling overwhelming and you're struggling with effective use of your time then it may be time to get some outside support and accountability in your business.

The great news, in my philosophy, is that there is always MORE you can achieve in your business. If you want more clients or more team leaders, that is entirely possible. The universe is ABUNDANT and there is always more that you can receive.