Business Owners Fit the 80/20 Rule

Pareto's Rule 

Applies To Business Owners

 

 

 20% Have These Characteristics

• Their communication style establishes trust, honesty and dependability
• They follow through on their commitments
• They're not distracted because they behave like CEOs rather than employees
• They don't flinch when an unexpected situation occurs
  
• They have courage to take advantage of defining moments
  
• Positive change trumps the status quo
• They look for opportunities to expand comfort zones - personal and company 
• They build an action culture of great execution
• They build processes that encourage the right actions

Earn The Right To Charge The Price You Want

Premium Prices Are Not An Entitlement

If the best-in-class company in your category charges a prestige or premium price, this doesn't entitle you to position your price near the rim of their price umbrella unless you can match their brand reputation for an excellent customer experience - before, during and after the sale - including the value derived from their products and services.

If you don't exceed the NetPromoter Score acid test of being told that you consistently deliver total satisfaction and can prove it by the frequency referrals you receive, your price is probably too high.

Easiest Time To Improve Is When Things Are Going Well

Don't Miss the Opportunity To Raise the Bar During Good Times

Have you noticed when things aren't going so well your peripheral vision shrinks and you don't pay attention to opportunities for improvement?

With this in mind, shouldn't we make every effort to improve when things are going well?  More discretionary funds become available. Higher confidence levels are evident throughout the organization. There tends to be less risk avoidance and more willingness to expand comfort zones. Positive attitudes begin to take over.

Continue to raise the bar and elevate to the next level of something, whether it be customer experience, profitability, marketing process, team participation levels, efficiency ...

The Top 20% Are looking to Raise The Bar At All Times

Even when their economy isn't doing well