Pareto Principle

Have you ever heard of the Pareto principle? I hope you have. The other more common name is the 80/20 rule. It basically state that 20 percent control 80 percent and vice versa. It was first observed in Italy as 20 percent of the people owned 80 percent of the land. It has been used ever since to describe everything. IT has come to light again recently as the economic changes we have faced over the past few years. The 1 per centers talk is really an extension of the Pareto Principle.

1. Understand the principle. This is how life works
2. Use it to your advantage. Which 20 percent are your best patients? For us, teachers are a big chunk of that, they are great patients, they pay, stay refer, and they have great insurance. SO, why not go out and get more. Recruit the people you like, hold events for them, offer them specials, etc. Recruit more.
3. Don’t fight it. Many will say get rid of the 20 percent that cause your headaches. Yes, get rid of some, but some will be replaced by new people with the same headaches, why? That is how the principle works. You will never have 100 percent great patients who pay stay refer.

Its a way to put perspective in your life and practice. One big thing is to think what activities you do that produce the most results. What is the 20 percent you do, that produces 80 percent of your results? Treating patients? Doing the marketing? Find what it is, do more of it, and less of what isn’t helping you out.