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Write You - Moses, Business And The 80/20 Rule
Online businesses do best with online marketing. Online opportunity and online work is, at the moment, at its zenith. Online communities help me connect Defining Collaboration Communities and Collaboration Web 2. Perhaps a better way of stating the issue is: What should you do to make online work successful in your work area. Most people manage by deadlines, and making decisions based on the online input keeps it real. People need to know what they are expected to do when they come
There are four critical areas causing business plans to change. All are changing trends in the business environment. The four areas we will examine are: 1) government trends, 2) economic trends. 3) technological trends and 4) cultural trends. Each one causes a specific impact on our decisions and requires us to make adjustments. Some changes are dramatic and require dramatic reactions to minimize their effect on our business.First are government trends. There are several dif
More formally the 80/20 rule is also known as the Pareto Principle. To Quote Wikipedia: "The Pareto principle… known as the 80-20 rule, the law of the vital few…Business management thinker Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed that 80% of income in Italy went to 20% of the population."
We hear the 80/20 rule as it is applied to business and sales. Twenty percent of your employees produce 80% of a companies problems, 80% percent of your corporate sales are produced by 20% of your sales force and in network marketing, 80% of your profits may come from 20% of your distributors. We hear of it as it relates to wealth and wealth accumulation: 80% of the money is controlled by 20% of the people.
Joseph Duran was born in 1904 and he credited this principle to an economist who lived in the 1800's. Is the Pareto Principle an abstract economics principle or is it a model of human behavior?
Going back an estimated 5000 years we see a beautiful example of the 80/20 rule in the Old Testament: Numbers 13 and 14. After an arduous journey through the desert, the Israelites arrived at the borders of the promised-land. Finding it already occupied, Moses sent an exploration party, a representative from each of the 12 tribes of Israel, to explore the land and bring back a report. Ten of the party members brought a negative report: the land flowed with milk and honey but the current occupants were powerful and their cities were large. They recommended retreat. Two brought a positive report and recommended taking possession of the land. Seventeen percent of the exploring party were in agreement with taking the land and 83% were opposed to taking the land. Two disparate courses of action though they were all members of the same exploration party and saw the same things. A curious thing happened, the 80% then we
The fashion industry has come a long way and has grown into one of the largest industries in the world. On account of the growth of this industry, the use of technology in this field has increased. Fashion designing software is increasingly being used by fashion designers.Fashion designing software greatly aids the work of a fashion designer and help in more effective performance. They help in saving a lot of a time, money and energy. These software packages help the designer in e
We hear the 80/20 rule as it is applied to business and sales. Twenty percent of your employees produce 80% of a companies problems, 80% percent of your corporate sales are produced by 20% of your sales force and in network marketing, 80% of your profits may come from 20% of your distributors. We hear of it as it relates to wealth and wealth accumulation: 80% of the money is controlled by 20% of the people.
Joseph Duran was born in 1904 and he credited this principle to an economist who lived in the 1800's. Is the Pareto Principle an abstract economics principle or is it a model of human behavior?
Going back an estimated 5000 years we see a beautiful example of the 80/20 rule in the Old Testament: Numbers 13 and 14. After an arduous journey through the desert, the Israelites arrived at the borders of the promised-land. Finding it already occupied, Moses sent an exploration party, a representative from each of the 12 tribes of Israel, to explore the land and bring back a report. Ten of the party members brought a negative report: the land flowed with milk and honey but the current occupants were powerful and their cities were large. They recommended retreat. Two brought a positive report and recommended taking possession of the land. Seventeen percent of the exploring party were in agreement with taking the land and 83% were opposed to taking the land. Two disparate courses of action though they were all members of the same exploration party and saw the same things. A curious thing happened, the 80% then w
One of the best ways to create visibility for yourself and your business is simply to start talking in front of a captive audience. That means seeking out every possible opportunity to speak in front of people who are interested in your subject.Why? Because:1. You establish yourself as an expert. No matter what your topic or how much experience you have in your field, once you stand in front of an audience you are perceived as an expert. The more often you speak, the more q
Joseph Duran was born in 1904 and he credited this principle to an economist who lived in the 1800's. Is the Pareto Principle an abstract economics principle or is it a model of human behavior?
Going back an estimated 5000 years we see a beautiful example of the 80/20 rule in the Old Testament: Numbers 13 and 14. After an arduous journey through the desert, the Israelites arrived at the borders of the promised-land. Finding it already occupied, Moses sent an exploration party, a representative from each of the 12 tribes of Israel, to explore the land and bring back a report. Ten of the party members brought a negative report: the land flowed with milk and honey but the current occupants were powerful and their cities were large. They recommended retreat. Two brought a positive report and recommended taking possession of the land. Seventeen percent of the exploring party were in agreement with taking the land and 83% were opposed to taking the land. Two disparate courses of action though they were all members of the same exploration party and saw the same things. A curious thing happened, the 80% then w
Here finally a business directory with the needs of businessman in mind. Businessmen can do with less clutter and a little more ease. Keeping this in mind easy2source.com makes the tedious task of searching for appropriate results an absolutely easy task.Make a demand on the search engine and be amply rewarded with the most satisfying results. Look for a supplier of a certain product or vice-versa and find a choice of the choicest to choose from. Here finally an easy to search and
Financial Data – What’s Needed?As a general rule, the more financial data that is available, the better. If your accounting system is sophisticated enough to produce internal Balance Sheets and P&L Statements, they are certainly helpful. Of course the best information to use as a basis is the Federal Tax Return, since when these are submitted to the IRS, any and all final adjustments have been made. Also, three to five years of returns will give the valuation analyst a better a
There are 5 lessons here that can be applied to business
1) New Ideas will be Opposed: Business innovation and success are governed by vision. Yet in any corporate structure, the 80/20 rule describes human behavior: 80% of people will oppose a new idea concept or vision and 20% will support it.
2) The majority will seek to garner support for their opinion usually among those people who do not have all the facts, in this case the people who did not have direct experience with the promised land, and disrupt positive moves of the corporate body.
3) Facts alone will not persuade. All members of the exploration party went to the promised land. They all received the same facts, yet 10 of them did one thing with the facts they received and 2 did another. What they each did with the facts they received was colored by their vision and purpose.
4) Movement in any business is governed by vision; in order to move in a given direction, a company may have to shed the part of its work force that does not tap into the overall corporate vision. If 20% of the people at any given time catch the vision, the other 80% will find themselves vulnerable. I explore this concept further in my companion article, "Moses, Death and the Entrepreneur's Journey"
5) Change is inevitable and necessary for growth in any organizational structur
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