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Stories - SMP Plastics and the 80/20 Rule

Hi Robert

It was a pleasure to attend your recent seminar at the Copthorne Hotel.  I always take a great deal of information and motivation from them.

It was after I attended the first Let's Talk More Profit seminar that my company started to take off.  We are a small firm employing only 5 people.  3 years ago we turned over £106,000pa, last year £200,000pa, and this year £210,000.  I predict that next year we will achieve £250,000, and if all goes well, should get to around half-a-million pounds in two years after that.

It was at my first seminar that I encountered the 80/20 rule and began to realise the power of it.  I was at that time running two business, one of which was my hobby in effect.  I began to realise that the effort I was putting in to the second business was wholly disproportionate to the amount of profit I was getting in return.  I promptly sold the business (luckily for me as I was prepared just to close it down) and put all of my efforts into my main concern, giving me much more focus and energy; this is when things started to take off.

The other way I applied the 80/20 was to all of my existing customers, giving them different labels and levels of importance.  The top 20% being my VIP's etc.

This has put my company in a very healthy position for the future, giving us as near to 100% customer satisfaction as is possible (according to the customer survey just carried out on our behalf by a market research company).  Very surprising and pleasing.

The principles learned and then applied on that seminar and in your books has been prominent in all we have achieved.

Best Regards

Mark Gibbs
www.smp-plastics.co.uk
SMP Plastics, Unit 51, Cyprus Street Industrial Estate.
Oldbury, Warley, West Midlands B69 4XD

Telephone: 0121 552 0212
Fax: 0121 544 4863
Email: info@smp-plastics.co.uk