80/20 rule is also known as the Pareto Principle. The rule says 20% of right effort brings 80% of results. It was named after its founder Vilfredo Pareto.
Now you know the rule. So how to use it for growing your SEO Consultancy Business.
When we say businesses, 1% of the top list knows that Business is about people and how to keep and motivate them is the first things to learn. Let’s drill down who are those people who can raise and bring down your business are
- Your Customers
- You
1.Your Customers
Do you know the top 20% of your customers bring 80% of your business revenue? If that is the case then what you should do?. Then where to apply this 80/20 rule in your business.
- Revenue
Focus on those clients who are more aligned with your business goals and who values your efforts and time by paying the money without annoying you. Take their feedback, ask them right questions which helps you to find out the loopholes in your business. Communicate with them and ask them what they want in your service/product which can bring 80% results for them. Once you know who to cater and now go out build the relationship with those top 20% customers. - Sales
In sales, most of you do this mistake and what is that?. You run behind New customers so much that you forget about your existing customers.I am not saying that you should not go for new customers. My point is you have paying customers and you know more about them than new a new customer and one more important thing is they know you. Right?. So my question to you is what you can upsell those existing customers?. Here the rule comes 80% of existing customers can convert more by putting your 20% effort. But if you go behind the new customer it takes more efforts.
2. You
How can you bring 80% by giving your 20%?. Well, there are a lot of things you can do to improve your business. Let discuss a few important things.
- Switch from self-employed to Business Owner
Well, do you know about ESBI framework? If you want to know how to use ESBI framework for your business then we have a full article on that. As a self-employed most time of your day is busy with doing less important work because of that it takes a lot of time to convert clients for your business. Since everything depends on you it makes hard to complete the projects on time, do follow-ups, send invoices, send the reminders for clients about payments etc. Just by switching to ESBI 3rd quadrant, you are free to meet new clients and rest other work is taken by your team. This is the easiest way most top business use to expand their business in no time. - Learn 20% Top Qualities of successful business owner
Have you ever made a list of qualities which can bring 80% results for your business?. Not right?. This is the right time to do so. Make a list of top 3 or 5 qualities which you can bring in yourself in less time.
If you ask me what are those top qualities which can make a great impact on your business, I would say.
- Self Discipline
- Delegation
- Educating oneself
Besides this, I would tell you to go through different articles to find out the qualities you can learn. I would recommend reading this article 5 Qualities Of Successful Entrepreneurs by Brian Tracy.
Hire a team
In hiring a team this rule can also apply. Hire team players who can take your 80% of the task from your list, so that you can focus on 20%. As per ESBI third quadrant here smart business owners hire the smart experienced professional who works for them and grow their business without their much involvement.
At Cybridge, we help you to expand and grow your business without taking much pain of it. We take care from hiring to providing infrastructure where your team can sit and do you work peacefully. Learn more about us here.
