Pareto’s Law (80/20 rule) is alive and well in the field services industry. The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. It is a common rule of thumb in every business.
About 80% SOFI revenue comes from about 20% of its members. About 80% of all SOFI information, marketing and training products sales come from about 20% of its members. The 80/20 rules also works for field service representatives. We find that 80% of the higher fee inspection tasks in the industry go to 20% of the inspectors in the industry. This leads to 80% of the revenue from higher fee inspections flowing to 20% of the inspectors in the industry. As a real estate broker, I have always read statistics and articles that show 80% of all real estate revenue is made by 20% of the realtors.
The year 2014 has been a great year in the field services industry. It has been a great year for SOFI. I expect that 2015 will be a great year for many of its members as they grow with SOFI. We have several new products to be released in 2015 that will help you grow your business. Check out all of the great information, marketing and training products at www.sofistore.com. Team up with SOFI and grow your business in 2015. SOFI focuses on the higher quality firms that pay the higher fees. Become part of the 20% in the industry that achieve greater success every year. The year 2015 will be a great year … come join us. Will you fly like an eagle or fly like a sparrow in 2015?
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