We've seen the #Pareto Principle (80% of outcomes come from 20% of causes) play out in all kinds of ways over our careers, but wanted to see if it held true for an early stage #wine merchant like Vino Cammino. After having a good giggle at Chat GPT's pictorial interpretation of the principle, which is wrong in all sorts of ways, we crunched the numbers on our first 3 months of sales... And gosh, if we count all of our mailing list members as customers (whether they've purchased or not), the revenue from our top 20% of customers comes in at 82% of revenue 😲 Vilfredo was really onto something hey? Now excuse us for a moment while we figure out what to do with this information. Thoughts welcome.
More effurts?
I think I would get along well with the top 20% of customers 😃🍷 …
Strategy - Transformation - Impact - Human Services
5moI’ve looked at this for too long and now losing track of the right way to spell effort 😅.