Location Based Marketing and the 80/20 Rule of Business – Guest post via @GreggVM

Guest Post by: Gregg @GreggVM works as a business consultant, freelance writer and TriOut Sales Manager/Advisor. Gregg writes at http://www.greggmorris.com

In 1906 and Italian economist named Vilfredo Pareto came up with a formula to describe the inequality in the distribution of wealth throughout his country. He found that 80% of the wealth was concentrated in the pockets of 20% of the people.

In the late 1940’s, Joseph Juran, a Quality Measurement guy, stated a principle that he called “the vital few and the trivial many”. He had found that 20% of the defects caused 80% of the [...]