The Pareto Principle 80/20 

  

You know the 80/20 rule. 

The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes.  Management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who, while at the University of Lausanne in 1896, published his first paper “Cours d’économie politique.” Essentially, Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population; Pareto developed the principle by observing that 20% of the peapods in his garden contained 80% of the peas.

So how does the 80/20 rule apply to sales?

The answer is simple.

80% of success in sales comes from your attitude and 20% from skill. It doesn’t matter if you have years of experience and perfect product knowledge if your attitude is not positive.

The best salespeople stay positive despite the challenges and obstacles that they encounter on a daily basis. It’s not easy because a career in sales can be a roller coaster of highs and lows and the key is not to get mired in negativity.

I sometimes meet clients who spend most of their time complaining about the economy and how tough it is to make money. Sure, it’s tough out there but if you allow that feeling to take over your mind, you are destined for trouble.

The most successful business owners tend to be positive and upbeat; always looking to improve their market share and profits.

That’s why the most successful sales people are not necessarily those with the most experience, but those with the best attitude.

So remember the words of Henry Ford and make sure that your mindset is positive. 

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