My Best Italian Business Coach

100consultants.com

Business can be overwhelming…

Every day new challenges…

Hundreds of emails…

People stopping you disturbing the flow what you have very well planned for…

How on earth can you be productive in this environment…?

Exhale deeply…

Accept your defeat…

Or Read Further and Start to Use What My Best Italian Business Coach has Taught Me…

Strictly speaking, he was not really a business coach, he was a professor coming up with a theory more than 100 years ago. But its implications come very handy in business on a daily basis.

We are talking about Vilfredo Pareto and his all famous 80/20 rule. It states that 80% of the results are driven by 20% of the factors or elements influencing it.

Ok, but how does it help me to focus?  Very simple! what are the things you do which are directly contributing to the way you measured? make a list of them and put them in descending importance order….  focus on the top 20%, and you will get 80% of the results!

The key to Successful Application of this Principle has Two Main Elements You Need to Keep in Mind!

  1. It applies to almost everything you do…

Numbers, Data, Time, People anything. You have to make sure that you clearly understand what is important for your customer (can be an internal customer or your boss) and figure out how your activities and tasks are connected to it.

Example: You are a maintenance manager at a facility… You are making products, customer deliveries are of main importance to the site… Traditionally you are measured to downtime, MTBF, response time and all sorts. These are all great metrics but I have 2375 machines to take care of…. How am I going to focus….?  Well, you walk up to your friend and ask from what areas they ship-how many products, or what areas make the most expensive products. Put this data in descending sequence and “voila” on the top you have the most important areas for the facility, and focusing or staring with these areas will give you the biggest “customer” satisfaction.

  1. It is not always 80/20

Sometimes you have to bend the rule to make the elephant smaller!

What I mean is that you can choose to start your efforts on let’s say the top 10 things you are dealing with, figure out what can be improved on those and from there the implications… actions can be further expanded to the rest of the items. So you can work with the Top 10 customers and figure out through their examples how to improve the service and then anything that can be applied across the customer base you will roll it out later on.

This means that although you are not addressing the top 80% per say, you will be when you start the rollout later on. This keeps you sain, keeps your efforts simpler…

There are some more pearls of wisdom about this principles so it would be great if you could share your thoughts and experiences and questions in the comments below.

Otherwise,

Enjoy the Journey and Deliver the Results!

g

100consultants.com

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