Sunday, November 3, 2013

The Rule of 90/10

I read about the Rule of 90/10 in Robert Kiyosaki's book, "Rich Dad, Poor Dad."  Simply put, it says that in any profession 90% of the money is controlled by 10% of the people.

Is this important?  It certainly is!  It can help you determine where to focus your time and energy to maximize your success.
You have heard me say I that I have often dreamed of being an artist.  I go to museums and look at the magnificent paintings and wish I could create something as beautiful.  Why don't I?  Because I haven't got the talent.  I know I could never be in the top 10%.  So rather than devote my time to something I know I will never be very successful at, I focus my need for creativity in other directions.  But as a trainer and coach, I am certain that I can do very well.  I want to teach other baby boomers and other women how to start and run successful businesses.  And I am very good at what I do!

If you want to boost your earning potential to new heights, you need to do the same thing.  Focus your time and energy on the things that can maximize your business.  Leave those other pursuits to other people.

If you want to be at the top of your field, you cannot be average.  Do you have what it takes to be in the top 10%?  Do you have the courage to step out of your comfort zone and try something different?  Do you have the patience to build your business step by step?  Do you have the determination to devote your time to achieving your goals when all your friends are doing something else?  Can you be a positive role model when everyone around you is complaining about their circumstances?

If you answered "Yes" to these questions, then go for it!  Be one of the 10%!  How?  Learn from those who are already there.  Read their books.  Attend their seminars.  Ask them questions and LISTEN to their answers.  Find the things you can be good at and focus your time and effort there.  Do something - at least one thing - every day to get you closer to your goal.  And never give up!

What do you think of the Rule of 90/10?  Does it apply to your business?

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