Guerrilla Techniques - Empowering Doers
The Pareto principle, also known as the 80/20 rule, has been translated into many meanings since it was first introduced in the late 1800’s.
For Guerrillas, the 80/20 rule teaches you simplicity and applies throughout your business:
Your job? The goals of the Guerrilla are first to identify the area of lower productivity and then take action to eliminate or streamline the activity. Then identify the area of higher productivity and look for opportunities to further those efforts. Identifying the lower and higher productivity areas will be helpful but it’s the taking action that determines the real winners.
For your marketing, find out which 20 percent of your marketing is motivating the most sales, to determine which 20 percent of your customers are producing 80 percent of your profits, to learn which 20 percent of your prospects are most likely to become customers.
When you discover which 20 percent of your customers are responsible for 80 percent of your sales, focus on keeping them happy, increase the amount of business you do with them, and tap them for their referral power because these are obviously satisfied customers. Paying more attention to them reduces your marketing budget because you can pay less attention to the 80 percent who motivate 20 percent of your profits.
Once your mind has absorbed the full implications of the 80/20 rule, consider applying it in other ways:
Keep in mind that while taking action will determine the 80/20 Guerrilla winners, simplicity and patience are important components of winning. Patience will enable you to target the areas to change while taking the time to think through the pin-effect of your changes to minimize or eliminate unintended consequences. Simplicity is always the goal of a Guerrilla and must be in focus.
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