November 5, 2015
by Tim Ryan, Digital Marketer, Video Producer & Director
THE 80-20 RULE (PARETO’S PRINCIPLE)
It’s been said that 80% of your fruit comes from 20% of your labor – essentially, that 20% of your customers make up 80% of your profits. This is known as the 80-20 Rule or the Pareto Principle, and it applies to many different aspects of business and life, far beyond video production.
So how can you, a creative, a freelancer, a designer, a video production company or agency, use this in regards to your portfolio? Can we make our commercials, documentaries and branded entertainment much more meaningful by leveraging this principle? Can we use it to make the stories we tell that much more powerful?
It certainly can. In this post, I’ll show you:
- How the Pareto Principle can impact our media both positively and negatively.
- Why you should entertain the 80-20 rule during production.
- How you can use it to leverage your efforts to be more valuable.
This is the Pareto Law. We knew this would make the story stronger.