Managing Customer to have the best -Odunze Reginald C

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In 1897, an Italian Economist, Vilfredo Pareto came up with a principle which he called (Principle of Least Effort).  He stated that 80 percent of our success comes from 20 percent of our effort. The rule went on say that 20 percent of our customers give us 80 percent of our business. And 80 percent give us 20 percent of our business. Hence the need to focus more on those that gives us the greatest business.

He called it the 80\20 Rule but his admirer called it “The Pareto Principle” with the advent of the 80\20 Rule came with it other rules, like 90\10 Rule of Money

But according to Robert Kiyosaki (2000) he stated that “The 90\10 rule of money states that 10 percent hold 90 percent of the economy and 90 percent hold 10 percent of the economy”.

From these presentations, it should be noted that the principle of least effort expected us to find ways of satisfying those customers who give us the greatest business, provide us with the necessary incomes to boost our business, is it not wise to device special means of satisfying these customers.

These customers have the enabling economy to provide for us all that we need as an organization to meet our obligations to shareholders, government, to our employees and to the board.

Continuing Kiyosaki “noted that there are two types of money problem, one problem is not enough money and the other is too much money.” He went on to say that it has been said that that there is nothing so powerful as an idea whose time has come and there is nothing as detrimental than someone who is thinking old ideas,”

Odunze Reginald C is the Lead Consultant, Chareg Consulting.

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