A Beginner’s Guide to the 80/20 Rule

The 80/20 rule (officially called the Pareto Principle) is a general rule that states that 80% of all effects come from around 20% of the causes. The idea behind this rule is that it can be applied to basically any field. In business, the Pareto Principle states that 80% of all your profit is going to come from 20% of your products. It also means that 80% of all work is done by 20% of your employees. It can apply to basically any field that you can think of, including sports, math, healthcare, and fitness. In this article, we are going to look at how the 80/20 rule can be applied in various fields to give you a better understanding of the principle as a whole. In Healthcare The 80/20 rule can definitely be seen in healthcare. As a general rule of thumb, 80% of all healthcare resources will go to helping 20% of all patients. Those 20% of patients are typically the elderly or those with persistent health issues who need round-the-clock care. In Sports In sports where anal…
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Are Newspaper Ads Worth the Time and Effort?

When you're trying to promote your business, you want to use every available means of advertising that you can afford to use. Plenty of businesses advertise through their website and through their social media sites, but offline promoting often brings in a large amount of potential customers. It's true that you do have to know who your target audience is just like you do with any online promoting. But, it's helpful if you cast a wide net because you might reach someone outside your target audience who turns out to be not only a great customer but a good word of mouth referral for you. While it's true that a lot of the younger generation are more active online, there is plenty of potential - especially among those who don't like to be online 24/7 - and just aren't that tech savvy. You don't want to miss reaching this audience. Despite many of them now having editions online, newspapers are here to stay. There's a good reason that people still purchase them in the stores…
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How to Enhance Your Brand Personality

A strong personal brand can really boost business. However, strong personal brands generally don’t just happen. It takes a plan and a commitment to follow through. This New Year, consider making a resolution to build a stronger personal brand. Here’s how. Step One: Identify your brand personality For most small business owners their brand personality is their own personality. If you’re a goofy or silly person then your brand may be goofy and silly. If you’re a hard hitting and serious person then that’s your brand personality. This is because it’s much easier and more effective to be yourself than to try to be a character. Martha Stewart is a great example. While she’s certainly not a small business owner, her brand is her personality. You know what to expect from Martha Stewart and people love that. It’s also important when identifying your brand personality to make sure it fits with your niche and target audience. Some personalities and niches may not blend well. …
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How to Build a Sales Pitch into Your Presentation

Are you presenting a product or service to a potential client or an audience of potential clients? The main point of the presentation is to make the sale, but the focus of the presentation is the audience. How can you accomplish both in one shot? We are going to give you a few hints in that area. Sell, Sell, Sell! When salesmen have quotas, the customer can become lost in the sauce. Remember door-to-door salesmen? They didn’t have PowerPoint presentations or big event halls with a stage to speak to their prospective clients. They honed a few basic skills that made the sale for them. As a business owner or a manager for a company, knowing the importance of new business as well as the importance of client needs can translate into sales with the right formula. Being prepared for anything (even big fat Nos) actually makes your job a lot smoother and simpler. Sometimes it isn’t what you know but how you convey what you know to your target audience. Building Your Presenta…
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5 Tips to Help You Market When You Think You’re Too Busy

What if you've taken the time to create a marketing plan but now you're so busy servicing your current clients that you're having a hard time keeping on track with your plan? Is it okay to set the plan aside for awhile? After all you've got enough business to keep you busy. And, you're not sure you could handle additional clients right now anyway. While marketing may not seem like a necessary activity when your business is going gang-busters, it's only a matter of time before your lack of marketing starts to impact your business. Staying on top of your marketing plan, even when you're busy, ensures you always have a pipeline full of prospects and clients into your business. While you may be busy right now, if you stop marketing for the next three months, you may find yourself high and dry when it comes to clients, because you've stopped the flow. As an independent professional myself, I can totally relate to being too busy to market. It seems the days are never l…
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Negotiation Is A Part Of Life

The majority of people tend to relate negotiations to business meetings and their appropriate wheeling's and dealings. This is actually only one type of negotiation that occurs regularly. Every person tends to do more negotiating in real life than you may think.

Let's look at some real life negotiation examples in more detail.

You may want to rent an apartment or a mobile home over the winter. Are you going to settle for the first price you are given? Probably not. You want to get a good deal so you are going to talk with the owner several times in the hopes of getting a better deal.

Some of the things you might discuss in person or via email include:

1. Your length of stay - you can offer to stay longer if the price is right. Benefit to the owner - knowing they have regular income for a certain number of months. 2. You offer to clean your rental or take care of the y…
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How to Optimize Your Networking Skills

How do you improve your networking skills? This is a very important skill to have for business and life in general. Networking is basically having a conversation with others. This is very important, whether your objective is getting a job, a JV partner, or customers. The best example of this is the network marketing industry. If you get on the phone and reel off your sales pitch, you likely won’t do very well. People want to buy from someone who cares about them. They won’t buy from someone whose main objective is to make money for themselves. The same goes for networking. The more you show you care about the other person, the more likely you are to get a satisfactory result yourself. “It’s not what you know, it’s who.” For instance, if you want to be an author, getting to know other top authors will be very beneficial. This is because they will help promote your book for you. So whether you are looking for a job, JV partner or more customers, being able t…
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What Successful Mompreneurs Have in Common

If you’ve ever wondered how some women seem to be able to do it all and have it all, you’ve come to the right place. The first thing to know is that that there’s no such thing as a Super Mom, and that women who appear to have it all, don’t. What they do have is a life that works well for them. And you can too. Successful mom entrepreneurs all have a few key characteristics: * Confidence, or at least a willingness to take a risk. Everyone, even the most seemingly perfect person has insecurities. The difference between successful mom entrepreneurs and others is they have the ability to take a risk. This takes both a high level of confidence and the ability to push past any insecurities and surge forward to achieve what they want. * Resilience, which means a positive attitude and the ability to adapt (because what are you going to do when your youngest gets sick on the day of a big teleconference?). Successful mom entrepreneurs are great at bouncing back from mistakes a…
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Have You Ever Thought About Starting a Business of Your Own?

If you have ever thought about starting your own business, its important to know who you are and if you have the "qualities" it takes to have  an Entrepreneurial Mindset? There are several ways to tell if you have this entrepreneurial mindset. Moreover, there are just as many ways to clear the road to becoming an entrepreneur. To Have the Entrepreneurial Mindset, Consider these Personality Traits: ___ Leadership qualities ___ Creative thinking ___ A feeling that there is something more than what you are doing in your current job ___ Innovative ideas If you show any or all of these qualities, you could very well be on your way to owning your own business because you do have that entrepreneurial spirit. How to Clear the Road toward Entrepreneurial Success (photo courtesy of Freepik) Going from the 9:00 to 5:00 grind to the entrepreneurial spirit may not be the easiest path, but it is something you can achieve. However, there are several steps you need to t…
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Five Ideas to Get Your Freelancing Noticed

You started from scratch. You built your freelance business up from nothing. You’re doing well and you're proud of your accomplishments. However, you want more. You want to build a bigger business - one that supports all of your personal and financial goals. Here are five top tips to take your freelancing business further. #1 Publish - Publishing e-books, books and reports on pertinent and relevant topics in your industry will make you a household name. When you meet prospects you can say, “Here, let me give you a copy of my book.” Perhaps more importantly, people will start coming to you for your services because they’ve heard of you through your book. Publishing enhances your authority and credibility. It also makes it possible to justify higher rates. You are, after all, a published author and expert. #2 Blog - Okay, so you’re probably blogging already. But are you blogging on other industry blogs? Are you guest blogging for those movers and shakers in your industr…
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5 Tips For Crafting Compelling Subject Lines

When it comes to email marketing, the first thing you need to get right is the subject line. If you can’t get your subscribers to open your emails, it really doesn’t matter how good the actual email content is. It’s easy to spend a lot of time crafting a great message and then just slap a subject line on it at the end. Spend some time writing them and see what type of headline gets you good open rates. Here are five tips to get you started. Keep It Short You want your readers to see the entire subject line before they click it. You also want to make it easy for people to scan through their emails. Try to get your point across in 50 characters or less. Pay attention to how your subject lines look on your own devices. Another great idea is to keep a swipe file of subject lines that grabbed your attention. Even if the emails are on a very different topic, you can adapt them for your own needs. Avoid “Spammy” Words Stay away from using any words we all associate w…
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