Monday, December 19, 2011

How to Grow a Business Faster, Smarter

Wondering how to grow a business?

Strange, but true: Most things in business (and life!) don't matter.

Based on the 80/20 Rule and my own experience, only a few of your clients, marketing methods, products or services really mean anything.

Example: Only about 20% of your marketing methods (networking at trade shows? client referrals?) really work -- they produce about 80% of your profits.

The other 80% (networking at the Chamber of Commerce? social media?) don't work so well. They produce about 20% of your profits.

If the Vital 20% of your marketing efforts produces 80% of results, that's a 4x output.

And if the Trivial 80% of your marketing produces 20% of your results, that's a 1/4 output.

As a result, your Vital 20% is 16x more powerful than your Trivial 80%.

That means there's an easy route to dramatically higher profits staring you in the face: Spend more time, money, and effort on the 20% of your marketing that produces 80% of your profits.

And don't say, "I don't have time for more marketing" ... because you DO have time.

Remember? About 16 of every 20 hours you spend on marketing this week -- 80% -- are largely a waste of time.

All you need to do is determine your Vital 20% and your Trivial 80%, then move time and money from the 80% to your 20%.

And don't say, "Sounds good in theory. What about in practice?" ... because I used 80/20 Marketing to produce a $2.1-million breakthrough in my own business. More on that story here.

Fact: If you have any clients and revenue at all, you must be doing something right. Do more of it tomorrow in the time you're wasting on other things today, and you win.

As the year draws to close, it's the perfect time to analyze your your QuickBooks files and client database, to find out EXACTLY what's making you money.

Stop wondering how to grow a business. The numbers don't lie and the answers are there, if you look for them.

Bio: Kevin Donlin can help you grow your business and enjoy the breakthrough results your hard work deserves. If you're interested in boosting your revenues and profits, please click here.

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