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3 Keys to Using the 80/20 Rule in Your Business for Exponential Growth (TPS119)

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This is part 2 of our conversation on the 80/20 rule with Tim Francis. If you missed part 1, visit theproductivityshow.com/118, where we covered the 5 levels of 80/20.

In this episode, we talk about how businesses have used the 80/20 rule to create exponential growth. Tim and Thanh take us through real world examples of successful business, and talk about how they are each using the 80/20 rule for their own business.

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Cheat Sheet

  • How Thanh has implemented the 80/20 rule to grow Asian Efficiency to where it is today
  • Why it’s OK (and even important) to spend a lot of time on the lower levels of 80/20
  • Why you can’t cheat the process when trying to grow your business
  • The big takeaways Tim received from going to a $10,000 conference with Richard Koch
  • The two strategies successful companies use to effectively to grow exponentially
  • How to use price simplification in the information business
  • How Michael Dell used price simplification to create a “star business” by streamlining distribution methods
  • How Apple utilized the proposition simplification approach to become the most valuable company in the world
  • How Tim personally used the proposition simplification method to create his business that matches CEOs with executive assistants
  • The three questions you must ask to leverage proposition simplification in your own business
  • How super successful businesses like Amazon, Uber, and Airbnb managed to utilize BOTH price simplification AND proposition simplification
  • The importance of making things easier, more valuable, and more aesthetically pleasing (and how to turn that added value into increased prices for your product or service)

Links

Connect with Tim Francis

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