Competitive Edge
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Creating your Unique Value Proposition to gain your Competitive Edge.
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9 Powerful Ways to Use the Pareto Principle in Marketing

9 Powerful Ways to Use the Pareto Principle in Marketing | Competitive Edge | Scoop.it
Never heard of Pareto? First, consider a little history about 19th century Italian land-ownership patterns.

Chances are, you’ve heard of the Pareto Principle. But do you understand it? It goes under various monikers: “the 80-20 Rule,” “the Law of the Vital Few” and “the Principle of Factor Sparsity.” It has far-reaching implications. And its idea is simple, yet profound: 80 percent of the effects come from 20 percent of the causes.

Related: The 80/20 Rule and Listening to Your Inner Procrastinator

Its genesis, interestingly, was a revelation about Italian land-ownership patterns: Italian economist Vilfredo Pareto (1848-1923) discovered in the course of his research that most of his nation's land, around 80 percent, was owned by just a few powerful people: 20 percent of the population.

Pareto was surprised by this finding; and, to his astonishment, when he did more research, he learned that the major proportion of land in other countries and regions was owned by roughly 20 percent of the population in those places, as well.

The Pareto Principle, then, was first applied to wealth distribution. Later, it was proved to be operating in other arenas, too, from gardens and shoe ownership to crime rates and business: Read more: click image or title.

 

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Marc Kneepkens's insight:

#Pareto is a powerful concept. Apply it and get more focus in everything you do. Don't waste time on anything less.

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3 Painless Scripts to "Say GoodBye" to Problem Clients

3 Painless Scripts to "Say GoodBye" to Problem Clients | Competitive Edge | Scoop.it

“Problem Clients” Say these two words in a group of entrepreneurs and you’re guaranteed to hear stories. Unreasonable requests. Fistfuls of hair. Sleepless nights. Every entrepreneur knows what I’m talking about, yet most are reluctant to end these poisonous relationships: “Oh, they’re not that bad.” or “They pay me better than my other clients.” While rationalizing why you should keep these clients makes sense in the short term, not getting rid of them is cheating your business out of  clients you...

To read the full article, click on the title or image.



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Marc Kneepkens's insight:

Difficult decisions. Here are some good ideas. Also in accordance with the 80/20 rule. You can't spend 80% of your time on 20% of your 'problem' clients.

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Solopreneur: 8 Ways To Stay Motivated When Working For Yourself

Solopreneur: 8 Ways To Stay Motivated When Working For Yourself | Competitive Edge | Scoop.it
Be excellent at one thing rather than mediocre at many.

It was fall 2014, and I was stuck.

You may be able to relate.

When you’re building something – a business, a blog, a website – you’re constantly learning and taking in information, and all of that information can easily become overwhelming.

I wanted to research so many things and incorporate them into Unsettle and test different theories, but my brain was on overload.

And what resulted? Nothing. I didn’t do anything, except “research.”

I didn’t produce (though I told myself I was being productive), and I realized a few weeks before my launch date that I didn’t have much prepared.

When I realized this, I stopped myself from researching any further and wrote down all of the principles I knew about creating a successful lifestyle business.

Thereafter, I referred to them when I’d get lost, overwhelmed or feel unmotivated.

These became my guiding principles in creating this website, and they take the pressure off my mind by guiding it in the right direction.

Maybe they’ll help you, too:

Read more: click on image or title.





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Marc Kneepkens's insight:

Working alone has its own challenges. You're your own boss with your own schedule, aspirations and dreams. How do you manage yourself? Sarah Peterson gives some guidelines to get you there.

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