You probably hear about new tricks every day… especially in the internet marketing niche… but when it comes to actually creating a successful business, you can always rely on the basic business principles that have helped entrepreneurs since the beginning.
As a business owner, you are having to juggle a ton of stuff on your shoulders. Using the right business principles and success guidelines could make your daily life a breeze in comparison and it could make the results of your actions amplified.
Here a few business principles that have changed my business and my life forever. I thrive to live by these principles for maximum results and incredible efficiency… I don’t expect you to have any different reaction.
Pareto’s Law a.k.a. The 80/20 Rule
Pareto’s law or the 80/20 rule is one of the most influential aspects to a successful business owner. The principle states that, for most events, 80% of the effect come from 20% of the cause. For example, 20% of your prospects produce 80% of your income.
The trick to taking this lesson in the right direction is learning to recognize the 20% cause. Focus all your energy on those actions and multiply your results. This can be applied to any aspect of your life.
Law of Reciprocity
This could be my favorite basic business principles because absolutely anybody can and will be successful practicing it. This law states that positive actions will be a response from positive action. In other words, if you are nice, nice things happen to you.
This is an amazing principle to live by in business because it definitely pans out. Always be ready to give your audience as much as possible. It will quickly be paid back.