The Pareto Principle, commonly known as the 80/20 rule, basically implies 80% of results come from 20% of causes. When applied to business, this principle analyzes client and sales data to understand where business owners should invest their time, money, and energy.

In this episode, I delve into the 80/20 rule and how it allows business owners to better define which clients, services, and employees provide the best return on investment.

In this episode, you’ll also hear:

• Identifying high profit customers and services
• Analyzing employee and task productivity
• Knowing where your sales come from

Must-listen moments:

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For any business to be profitable, services must be priced appropriately. Business owners need to regularly set profit margin goals and adjust pricing accordingly.

In this episode, I break down cost-based and value-based pricing, and tips for competitive prices that keep clients happy and revenue goals on target.

In this episode, you’ll also hear:

• Covering costs and profit margin
• Advantages of value-based pricing
• When to change your pricing strategy

Must-listen moments:

[00:00:38] We think if we do more sales, we'll be profitable. But if you haven't priced your services correctly,

Just like we visit the doctor and dentist for regular check-ups, business owners must routinely review expenses and decide when cuts are necessary. Monitoring the financial health of your business is key to its long-term success.

In this episode, I outline effective ways to decrease expenses, increase efficiency, and preserve customer satisfaction without compromising the value of your goods and services.

In this episode, you’ll also hear:

• Eliminating unnecessary expenses and streamlining productivity
• Suggestions for taking your company lean
• Cutting costs while maintaining quality

Must-listen moments: