The Sweaty Startup

342: How to find your most profitable work

Jun 22, 2023

Learn how to identify high impact work and analyze the value of a self-storage facility using the 80/20 principle. Discover how this principle can be applied to make decisions about where to live and choosing friends. The importance of focusing on high-value tasks in service businesses is stressed, including building processes and sales.

09:47

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Quick takeaways

Analyzing your activities to determine the 20% that generate 80% of your results is crucial for success.

Tailoring your business strategies to target the 20% of customers who generate the majority of your profit can significantly impact your bottom line.

Deep dives

The 80-20 Principle in Business

The podcast episode discusses the 80-20 principle, which states that 80% of your results come from 20% of your efforts. The host provides examples from his own business and his brother's lawn care company to illustrate how focusing on the most profitable and efficient tasks can lead to greater success. He emphasizes the importance of analyzing your activities to determine the 20% that generate 80% of your results and then making decisions and adjustments based on that analysis. Additionally, the podcast highlights the significance of identifying the 20% of customers who generate the majority of your profit and tailoring your business strategies to target them specifically.

Introduction

2min

Analyzing the 80-20 Principle for a Service-Based Business

3min

Using the 8020 Analysis to Make Decisions

2min

The Importance of Focusing on High-Value Tasks

3min

How you chose to spend your time makes all the difference. Doing an 80/20 analysis can help you figure out what 20% of your efforts generate 80% of your results.

This episode originally aired on June 7, 2022.

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