As a successful business owner, Christo Hall knows that only a small portion of our efforts result in profits. In this episode, Christo explains how to use the 80/20 Rule to your advantage and how to find the best use of your time as a business owner.

00:18 The 80/20 Rule

00:58 The Next Step

01:40 Find your 4 Percent


Christo:   Hey there! In this video tip, what I want to go through is ways to find the best use of your time. So everybody‘s heard of the 80/20 rule. The 80/20 rule when it comes to finances and when it comes to sales in business basically says that 20% of your efforts typically will result in 80% of your results. So 20% of your efforts in business to generate sales will result in 80% of the sales. Whereas, the other 80% of your efforts will only result in 20% of the sales. So we want to make sure that we‘re clear on what these kind of 20% percenters are so that we’re focusing on what‘s going to give us the biggest return so we can do more of that, obviously, and have the less wasted time or less ineffective time.

Now, because the 80/20 rule applies, it‘s a good idea to look even further. This is the reality. If 20% of your efforts result in 80% of the results, we‘ll water the 20% of that 20% that give us the majority of the 80%. So what I mean by that is if you take 20% of 20, you will end up with 4 and if you take 80% of 80, you end up with 64. So what this basically says is, 4% of your efforts will result in 64% of your results. So the 4%, the things that you do or it could be one really good alliance in your business that generates the majority of the results, or this networking that you do that results in the majority of the results, or Facebook ads that result in the majority of your sales. We‘ll want to be really clear on what are the critical things that you do, the best use of your time, the 4 percenters that result in the biggest return for you.

So being clear on that, and also working with your team to be clear on those things so that we can look at replicating and scaling up those things. So we‘re doing more of those kinds of critical 4 percenters that result in the majority of the results.

So, in your own time, looking over how you spend your time, and I bet this for a lot of people when we speak about this. I was actually talking with a lot of our members about this just this week in the Genius Bunch program which comes after Clever Bunch, and they were saying, “oh”. Just even talking it through, they had a lot of “aha” moments, just thinking, “oh”, this is you know. Also, I believe it relates to life in general, as well. So like 4% of the things you do result in 80% of your fulfillment or your fun. So make sure if you enjoy family dinners, that‘s that little 1 hour once a day that results in feeling fulfilled. You get the idea.

So in business, what are these critical 4 percenters resulting in the majority. Get clear on what you‘re doing, try note it down so that we can do more of those things that are generating the biggest return for you.

So there you go. If you‘ve enjoyed this tip, feel free to share it with anyone who you know would benefit. Any questions or anything you‘d like answered from us, post away. We have recently been answering a bunch of questions that people have asked us through social media on our podcast. So by creating a whole podcast episode, if it‘s a really good question. So feel free to send through any of your questions through social media or through to [email protected] on the email address and we‘ll look after you. We‘ll answer it right there and then. Or jump on, make sure if you don‘t know about that resource, jump on our podcast. It‘s called The Pick of the Bunch by Basic Bananas. If you just search Basic Bananas on a podcast app wherever you listen to podcasts on your smartphone, you‘ll find it. It‘ll pop up. You can subscribe and we share a lot of value in there as well so make sure you jump on that one.

Until next time. Keep creating ripple effects of awesomeness and we‘ll see you on the next episode. Bye for now.