If you’re serious about growing your Recrutment or Search Firm, then these two numbers are something you’ll have to pay very close attention to….
80…
and 20….
The significance of these two numbers was first discovered by an Italian economist who went by the name of Vilfredo Pareto…
Who, in his studies of the disparity of wealth in society, unwittingly stumbled on what we now know as “the 80/20 Principle”.
In short, it means in any system the majority of effects come from a small number of causes…
In Vilfredo’s case he found 80% of the wealth was owned by just 20% of the people.
But the relationship holds true all over the place:
In software, just 20% of the functions are used 80% of the time
Just 20% of your carpets get 80% of the wear
80% of the people live in 20% of the towns
80% of people die of just 20% of the most common causes
80% of crime is caused by just 20% of the criminals
80% of your profits come from just 20% of your sales
80% of your headaches come from just 20% of your worst customers and clients
80% of all your results come from just 20% of your work
And so on…
The numbers aren’t always exactly 80/20 and they don’t have to add up to 100, so you might find they’re 99/1, 75/20 and so on.
The point is… wherever you look in the universe the principle holds: the overwhelming majority of effects come from a small number of causes.
As Recruitment or Search business owners we ought to find this truly profound and awesome (and I, for one, do).
Here’s an example of why I say this: imagine for a moment you make £10,000 a week, working five days, Monday to Friday (40 hours).
If the 80/20 Principle holds (and it does, I promise), then you’ll find you make £8,000 of that £10,000 in just one day, say Monday or in just 8 hours spread across the week.
So the question then is… would you take a 20% cut in pay for an 80% cut in your working time?
You’d have to be completely bonkers to turn an offer like that down, wouldn’t you? Because you’d then have an extra four days a week to find ways of making that 20% (and a whole lot more) back.
This isn’t just theory. I’ve actually done this with Recruitment and Search Firm Owners all over the world and I’ll do it for you too, if you’re serious about taking your business to the next level…
Take Your Business To The Next Level Here
80/20 relationships do exist in your Business and simply by focusing our time and energy on the small number of things giving us the greater part of our results we necessarily forge ahead of our competitors in leaps and bounds. And it’s just happends to be one of the things I’ll be sharing with you at ‘Market Domination X’.
Most Recruitment and Search Firm owners that I speak to already work very hard. For a lot of them, simply “working harder” to grow their business to the level they would like isn’t an option, there simply aren’t enough hours in the day.
The only viable option for people like this is to get better results from the activities they’re already doing. In this session, we’ll be looking at how you and your team of consultants can become up to 16 times more effective in every task. This means you can very quickly improve your sales, profits and business revenue, and even work fewer hours. Giving you even more time to spend growing the business and more freedom to spend outside of it with your family and friends doing the things you really enjoy.
Speak to you soon,
Until then….
Take care, take action and be relentless…
Terry Edwards
P.S. Spend two whole days with me at “Market Domination X” and if for any reason you don’t think the proven profit growth strategies you’ll get access to will be worth a minimum of £100K in additional revenue for your Recruitment or Search Business over the next 12 months. Simply let me know, and I’ll refund your fees in full.
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