The Pareto Principle: Founding and Scaling a B2B Software Business…in the style of Billy Connolly

Ye know, the Pareto Principle – or as us mere mortals like to call it, the good ol' 80/20 rule – is one of those wee bits of wisdom that, once you clock it, ye see it everywhere. It's like when you learn a new word, and suddenly everyone's sayin' it, even the guy at the fish and chips shop is like, "Here's yer haddock, mate, and don't forget yer 80%!" ??

So, let's get into this. If you're founding or scaling a B2B software business, there’s a solid chance the Pareto Principle is quietly lurkin' around every corner, smirkin' like it's got some cosmic joke just for you. Let’s unpack that, aye?

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They say 20% of yer efforts give ye 80% of yer results. This is true in life, like when ye realise only 20% of the stuff in yer wardrobe is what you ACTUALLY wear. The rest? Sentimental nonsense and clothes ye bought after a few pints, convinced ye'd look like a fashion mogul. (Spoiler: ye don’t.)

Now, when ye apply this to business, it gets even juicier. Let me tell ye why:

???????????? ?????????? #??: 20% of yer clients give ye 80% of yer revenue ??

Now, this is the big one. In any B2B business, it’s not about servin’ everyone and their granny. If ye’re doing it right, ye’ll find that a small slice of yer clients are the ones keepin' the lights on – the rest? Time wasters who take a fortnight to respond to an email but then expect a software overhaul by yesterday.

So, what’s the lesson? Nurture that 20%! Treat them like royalty. Give ‘em the best service, the fastest responses, and if ye have to, bake them scones – whatever it takes. Let the rest of yer client list fend for themselves a bit more (within reason…don’t go full Highland warrior on them, just prioritise).

???????????? ?????????? #??: 20% of yer features create 80% of yer product's value ??

Here’s a dirty little secret about software: most of yer users don't care about all the bells and whistles. They want the one thing that makes their job easier, faster, or makes ‘em look like the office genius (bonus points if it’s all three). That one feature? Aye, that's yer 20%.

Instead of cluttering up yer product roadmap with flashy features no one asked for, focus on makin' that core 20% of yer software outstanding. Make it so smooth and slick that people forget the other 80% even exists.

???????????? ?????????? #??: 20% of yer team is drivin' 80% of yer growth ??

Look, ye’ve probably already realised this if ye've spent any time runnin' a business – a few star performers are doin’ most of the heavy liftin’. They’re the ones comin' up with brilliant ideas, closing deals, stayin' late, and generally makin' sure ye don’t end up livin' in a cardboard box next to the train station.

Identify these legends, and for the love of whisky, make sure ye keep ‘em happy. Pay 'em well, listen to their ideas, give 'em space to breathe. And the other 80%? Well, let's just say they’ll either catch up or quietly disappear. Focus yer resources on the folks makin' a difference.

???????????? ?????????? #??: 20% of yer marketing efforts drive 80% of yer leads ??

This one might sting a bit because we all love to think we're marketing geniuses, right? But here's the truth: ye’re probably wastin' time on stuff that’s gettin' ye nowhere. Posting on every social platform? Waste. Chasing trends? Bigger waste.

Instead, double down on what works. Is it LinkedIn (hint hint)? Is it yer blog? Is it paid search? Find that sweet spot and pump yer energy into it. The scattergun approach just leaves ye exhausted and broke, like ye spent all night at the pub and woke up with an empty wallet and no memory.

???????????? ?????????? #??: 80% of yer problems come from 20% of yer processes ???

Here’s a fun wee game to play: look at yer business, right now, and think about the things that drive ye mental on a day-to-day basis. I bet ye’ll realise most of the headaches come from a small number of issues that keep poppin’ up, like the office printer that always breaks or the one client that’s never happy.

Solve those problems, and suddenly life feels like a holiday. It’s like gettin' rid of that one squeaky floorboard in yer house – small fix, huge relief.

?????? ?????????? ?????????????? – It's All About Focus, Folks ??

Here’s the thing: the Pareto Principle isn’t about workin’ harder; it’s about workin’ smarter. In a B2B software business, there's so much noise, so many distractions. But if ye can laser-focus on that golden 20%, ye'll be laughin' all the way to the bank.

So next time ye feel overwhelmed, just ask yerself: "What's the 20% here?" Whether it's clients, features, marketing, or even yer own personal energy – find it and double down. Leave the other 80% to sort itself out. Trust me, it usually does.

Now, if you’ll excuse me, I’m off to apply the Pareto Principle to my dinner. Gonna eat 20% of my food that brings 80% of my joy. Probably the chips. ??

#B2B #Software #Scaling #Entrepreneurship #Pareto #Focus #WorkSmarter #Business

Note: All of this post has been written by ChatGPT based on the following prompt.

"You are an experienced ghost writer who creates LinkedIn content for LinkedIn posts. Create an 800 word linked post optimised to drive engagement. The post should talk about applications of the Pareto Principle when founding and scaling a B2B software business. The writing should be in the style of Billy Connolly the scottish comedian."

I was quite nervous about doing this but I was very comfortable with what ChatGPT created based on my prompt and its taken me less than 10 minutes to create, refine and publish this post rather than circa 30 minutes and I suspect what I would have written would not have been as good.

What do you think?