Business
Ep 002 - What is the ABC Formula? _ It’s the year 1896, and Italian economist Vilfredo Pareto publishes his first work, Cours d’Economie Politique. In it he shows that approximately 80% of Italy’s land is owned by 20% of the population. Fast forward to 1941, American engineer and management consultant, Joseph Juran discovers the work of Pareto and begins to apply this principle to his consulting practice. He notices this very principle could be applied to quality issues, meaning: 80% of a problem is caused by 20% of the causes. 20% of a team’s members are going to make up 80% of a project’s success and 20% of customers will create 80% of the profits. In other words 20% of inputs are responsible for 80% of outputs. So just like Joseph Juran took this 80/20 principle and applied it to management; we too can take this principle and apply it to growing your ecommerce brand. It starts by focusing on the 20% that drive the 80%, the 3 most important growth levers of your business. But before I reveal these 3 growth levers to you, let’s apply this 80/20 principle on what 20% of challenges, stifle 80% of your growth... _ This podcast is produced and sponsored by SparkPPC | Ecommerce Marketing Consulting. --- Send in a voice message: https://anchor.fm/ecommerce-marketer/message