Wouldn’t it be great if every person in the world bought your product or service? All you have to do is create something that everyone wants, right?
I hate to break it to you, but you’ll never be able to create a product or service that pleases everyone. If you try, more likely than not, all you’ll be doing is setting yourself up for failure.
The 80/20 Rule aka The Pareto Principle
Have you heard of the 80/20 rule? It’s a general saying that’s used heavily in the business world and it goes something like this:
80% of your sales come from 20% of your clients.
It can also mean 80% of your revenues come from 20% of your customers.
This is a good post about how price points can have a negative side effect. As a followup to the conversation this morning about pricing that revolved around http://www.neildavidson.com/dontjustrollthedice.html You can pick up the PDF version of the book there for free (as in beer).
So, what does that make the list of subjects that a founder should have under their belt?
