Are You Part of the 20% or 80%?

If you know me, you know I love reading business related books. I try to read about 30 minutes every night before I go to bed. This is the time that I "unwind" and reflect on the day that was and the day to come tomorrow. I am currently reading "The Tipping Point" by Malcolm Gladwell. So far this is a terrific book and I would highly recommend it to anyone in marketing or if you have an entrepreneurial mind. One key idea that jumped out at me last night was this:


**20% of people do 80% of the work
-This can be related to your business, your social circle, or anything else. This is very similar to the 80/20 rule of business. (20% of your clients/customers create 80% of your revenue stream).
-The example in the book is about word-of-mouth referrals for a restaurant. A daughter takes her dad to one of her favorite restaurants. The dad loves it so much he comes home and sends out a mass fax to all of his close friends telling them about the restaurant and that they need to go eat there. The dad would be the 20%. The other people would be the ones that casually mention the restaurant name to a friend or possibly pick up the phone and call a few friends. The dad is the one that took word-of-mouth referrals to the next level. He went above and beyond the norm because he really liked the restaurant and wanted to let everyone in his contact sphere know about it.

**So my question is, are you part of the 20% doing the work and really spreading word-of-mouth or are you part of the 80% casually passing information along to a few people?

1 comments:

pjfinley May 27, 2009 at 7:08 AM  

It really does make you think which one you are. America is such a consumer driven economy that I think we forget about the other side. You see it all the time when a business goes out of business and you ask yourself "why did they go under?" One reason is the word of mouth, did that person tell everyone he knows or just one or two. Also I think you have also seen a drop in loyalty. Unless something has happened with service, there should never be a reason to change who you are doing business with. Very good blog!

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