THE 95:5 RULE: WHAT’S YOUR “FIVE”?
Being in business can involve all sorts of formulas. But when it comes to what can make your business either a success or an ongoing struggle, I always use a simple ratio to make sure I’m paying attention to what really matters.
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I call it the 95:5 rule. The breakdown is simple. Most moderately successful businesses are good at about 95 percent of what they do. It’s the remaining 5 percent that can determine whether the business excels or not.
I’ve seen businesses wrestle with this over and over. Often, they haven’t identified that critical 5 percent. Sometimes, they’re needlessly worried about the 95 percent that is working. Other times they know the 5 percent that isn’t working but don’t know what they can do to change that. Maybe they refuse to believe that particular 5 percent is all that important.
That 5 percent isn’t just important—it’s absolutely essential. And that 5 percent can appear in all sorts of ways.
Five percent may not seem like much, but it is. The chapters in this section show you how to know your 5 percent and what you can do to make your business excel.