Hello my Business Networking Link friends and readers, this evening I thought I would write a blog post about business strategies… So what is a business strategy and how can it help your business to blossom and grow?

Well, a strategy is all about how, when and why… It is setting long and short-term goals AKA a plan of action to achieve your business objectives. So the long and short of it is, your business strategy should be able to tell you in which direction your business is going.

Like with any new goals or targets in life, a business strategy will need to be frequently reviewed and monitored to increase your chances of success. It is easy to get lost in the moment, work hard and not clever when you are setting up a new business! The purpose of a business strategy is to help direct and channel this energy…

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So what is the 80 / 20 rule in business? Well, the awesome Wikipedia quotes:

The 80 / 20 rule was named after Italian economist Vilfredo Pareto, who noticed 80% of land in Italy was possessed by 20% of its people; he then developed the principle by later noticing 20% of the pea pods in his garden contained 80% of the peas! So there you have it, in a nutshell (or a pea pod!) the 80 / 20 rule… Now we need to apply this rule to our day-to-day work and the development of your business!

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