Demand for moving services surged in 2021, but as interest rates have risen and job markets have cooled, the demand for moving and relocation has become less certain. In tough times, we all tend to go back to what we know best, but will that work in 2023?
We’re living in uncertain times – economic recession, inflation, and business uncertainty with fewer skilled workers in the workforce. At Yembo, we are taking a lesson out of history and building a unique technology solution for moving that drives extreme focus and efficiency for your future. Here’s why that matters for moving businesses more today than ever.
Why moving businesses need to embrace the 80/20 Rule
The 80/20 rule states that 20% of what you work on causes 80% of the outcomes. In short, it’s all about focus.
You may recall hearing people talk about the 80/20 Rule in business. It originally came from the Pareto Principle, authored by an Italian economist, Vilfredo Pareto in the early 1900s. But it was business theorist, Joseph Juran who popularized it in the 1940’s for business.
The 80/20 rule throws out two popular myths about business productivity:
- Myth 1: Every task holds equal value. Prioritization matters, and focusing on high-value parts of the business can increase what a business can accomplish.
- Myth 2: Multitasking is productive. Several studies have found multitasking hurts efficiency and can increase errors. That’s because focusing on everything all at once means nothing gets the attention it needs.
How moving businesses can use the 80/20 Rule to grow
The celebrity business and life coach, Tony Robbins says, “Time is the currency of achievement, but some people cash in their time for more achievement than others.”
How can moving businesses “cash in” their efforts for higher achievements? The 80/20 rule suggests that winning businesses don’t waste time on unnecessary work. They focus on business tasks that boost value the most.
Moving businesses that can pinpoint which areas of their business will deliver the most value, and then focus on wringing the most productivity from those areas possible, can fast-track growth. For instance, by focusing on improving efficiency in a few key areas of its business, including pre-move surveys and closing rates, one moving business lifted its revenue growth by 87%.
It’s time for the moving industry to cash in on the 80/20 Rule
If you want to start lowering your moving business’ workloads and drive productivity higher, ask yourself: “Are you spending your time on the right 20% of things that will result in 80% of the business outcomes you desire?”
Yembo has the latest artificial intelligence technology solutions for taking your company to the next level. We’re here to help you focus, so you can achieve more.
Watch our Self-Survey video below or contact us to learn about how Yembo is transforming the moving business today.