We've all heard of the 80-20 rule, but what does it mean to our business. The basics of the rule means that in any set of things (activities.) a few (20 percent) are vital and many (80 percent) are considered trivial. What is your 20%? What are the things that you focus on to get results...or do you get struck worrying about the 80%?
Getting Focused
A number of us decided that we would get focused on our buisness through a book study using Michelle Moore's *55 Fast Tips to Jump - Start Your Real Estate Business. A total of 17 signed up and off we went. The group was to meet each Tuesday from 4:30 to 6:30 in Downtown Franklin. The first night we had a total of 14, the next week 7. So what does that say? Well let's look at the 80-20 rule. That's right we our attendance numbers are closer to the 20 percent. That would be the 20% who really are committed to the book study...and their business.
One of your focused activities should be client followup
Here are some interesting actions/results found in a recent study of sales people:
- 48 % of salespeople NEVER followup after the first in person meeting. Of that 48% only 25% have a second contact.
The Results:
- 2% of sales are made on the 1st contact
- 3% of sales are made on the 2nd contact
- 5% of sales are made on the 3rd contact
- 10% of sales are made on the 4th contact
- 80% of sales are made on the 5th to the 12th contact
It time to get focused on followup.
Comments(2)