Chiropractic Workshop: Hey Doc! You need to learn the 80/20 principle before you go any further in business or else you won’t go anywhere.

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.

Business-management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population; he developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas.

It is a common rule of thumb in business; e.g., “80% of your sales come from 20% of your clients”. In your chiropractic business this is no different. 80% of our top referrals come from 20% of our patients. 80% of our headaches come from 20% of our patients too. 80% of our time is spent on 20% of what needs to be done – often because we do not have a system in place to deal with the issues taking up all of our time.

If you take the time to learn the principle you will be successful. Unfortunately you will need help. So if you do consult me and I will help you.

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