What if Most of Your Work is Pointless?
Have you ever heard of Pareto's Principle? Please say 'Yes' (it's so darn important to your business and your life).
Pareto's Principle is probably better known as the 80/20 rule. It basically states that 80% of your results come from 20% of your efforts. When you realise this, it changes everything.
Think about it....let the penny drop. When you get it, everything slows down.
You no longer need to frantically chase every job that comes your way as chances are, it will be one of the 80% of jobs that makes you just 20% of your income (yes, the 80/20 rule works in an inverse way too...).
You now know that the gold lies in the 20% (or less) of the gigs that come your way.
Problem is that if you are busy dealing with the (low profitability) 80% of customer assignments, then you have limited time to find and identify the (highly profitable) 20%. This requires a complete mindshift.
Now you need to actually talk yourself out of gigs that come your way:
"Do you really need me to help you with this? Couldn't you handle it in-house?"Why can't you outsource it to another agency or a freelancer or overseas - that might be far cheaper than me getting involved?"
"Why now, why me? What would it mean for me to be involved?"
Okay, so you've just lost 80% of your work offers with this line of questioning but the ones that are still left.... they could be pure gold.These are the 20% that are now prepared for the fact that if they want you, they are going to have to pay top dollar. You have set yourself apart from the others in your field who are scrabbling in a price-war bloodbath. A race to the bottom. Low profits. Low morale. But, boy are they busy!
What if you could do 20% of the work that you did last year yet still make the same or more money?
You can. I've just shown you how.
Posted from my blog with SteemPress : https://businessn2k.com/what-if-most-of-your-work-is-pointless/