USE THE 80 – 20 RULE TO CREATE YOUR BUSINESS BREAKTHROUGH
When you review your wear resistant steel applications, it is understandable some wear plate steel issues are more important to your process than others.
See How JADCO QT Plus
When you begin your day with 10 things on your To-Do-List, it will be more important to get the top 2 items completed, than the other 8 items combined.
Your main job is to determine which 2 items are critical to complete before starting the other 8 things.
The 80-20 Principle is otherwise known as Pareto’s Principle.
The reason the 80 – 20 Principle is so valuable, is it is counter intuitive.
We tend to expect all causes have roughly the same importance. An example would be how every sale, and every business and every dollar is just as valuable as every other dollar. In fact they are not equal.
It is clear in any business; a few employees are more valuable or contribute more than the majority.
The key item here is while all problems have a large number of causes; some causes account for a significantly larger percentage of failures.
By working with JADCO to help identify your key wear related challenges, you can make a dramatic difference in your performance, production levels and profits.
It is interesting when you start paying attention to this Principle; you will discover it is present in in your everyday life. For example:
- 80% of profits come from 20% of your products.
- 80% of sick days, are taken by 20% of the workers.
- 80% of your breakthrough results come from concentrating on the 20% of your most important wear challenges.
- 80% of consequences occur from 20% of causes.
- OSHA has identified 80% of all work place accidents occur in 20% of the most hazardous processes.
- We need to maximize resources that deliver powerful results. Every resource is used where it has the greatest value.
- Other sales people strive to get a sale today, regardless of how it impacts your results. At JADCO, we focus on achieving long term results for our customers.
Insert 80/20 thinking into your work life, to gain an unfair advantage over your competitors.
The real key is to not simply do a quick glance review on a whole range of issues. Focus on taking action only with the single most important issue. Here is where you will experience the greatest impact. You will see your production, performance and profits soar.
It is interesting when you start paying attention to this Principle; you will discover it is present in in your everyday life. For example:
Using The 80-20 Principle Also At Home…
· You wear 20% of the clothes in your closet, 80% of the time. (Am I right?)
By tracking how much is spent for maintenance on specific pieces of equipment, the 80 – 20 Principle will quickly show where you need to invest for immediate improvement.
The best way to start making money is to stop losing money due to under-performing equipment and components.
Real progress happens when we find a way to make your unproductive resources into highly productive resources. Identify what works fantastically well and modify the others. It is critical to abandon those items with traditionally low value.
The 80 – 20 Principle is still the best kept business secret. It can be profitably applied to any industry any organization; and any individual job within the organization.
Allow JADCO to help you achieve the best wear plate performance with your equipment. We have the experience necessary in your industry to improve your results.
Working together with JADCO wear specialists, you will identify not only where you can increase profits, but can show where you are losing money.
Allow us to help you today by calling (724) 452-5252, or email info@jadcomfg.com.
We will schedule a meeting with one of our local wear plate specialists at a time that best fits your schedule.
Remember, the only thing you have to lose by not working with JADCO, are your profits.
When your standard wear plate gives out, be certain to give JADCO a shout! (724) 452-5252.
