Skip The Line - Chapter 14 - Th 50/1 Rule (Or How To Be Infinitely Productive)
I love this chapter and I think it's one of the most powerful chapters in the book. It reminds me a lot of The One Thing by Gary W. Keller and Jay Papasan. What is the one thing you could do that would make everything else, easier or unnecessary? Most restaurants I visit do a very poor job at harnessing this powerful principle. The average chain menu hitting a little over 132 items in mid-2018, per Technomic. In-N-Out Burger is a great example of this.
1. The 80/20 Rule. Action Step: Ex. Find the 20% of menu items that are responsible for 80% of your sales and double down on those menu items.
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2. The 64/4 Rule. Action Step: Ex. Now take the 26 menu items that are producing 80% of your sales and apply the 80/20 rule again and what you'll discover is that 4% or 5 menu items are responsible for 64% of sales.
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3. The 50/1 Rule. Action Step: Ex. Now take the 5 menu items that are producing 64% of your sales and apply the 80/20 rule once again and what you'll discover is that 1 menu item is responsible for 50% of sales.
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