According to Wikipedia, The Pareto Principal also known as the 80-20 rule, the law of the vital few and the principle of factor sparsity states that, for many events, roughly 80% of the effects come from 20% of the causes.

Business management thinker Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed that 80% of the land in Italy was owned by 20% of the population.

It is a common rule of thumb in business; e.g., “80% of your sales come from 20% of your clients.”

Pareto Systems gives you the tools to focus your energy and time on the 20% of your clients that are creating 80% of your revenue.

It is my experience that one of the biggest challenges financial advisors face is they get caught up in investing eighty percent of their time looking after C & D clients and again, receiving twenty percent of their income.

I believe that some financial advisors are suffering from The Unmet Needs Disease and this is what keeps them locked into over servicing C & D clients.

Unmet needs reside in the subconscious mind and it is pretty easy to get hypnotized by these unmet needs given that one is on auto pilot in their subconscious mind most of the time.

Let’s take the unmet need of approval as an example. If one has an unmet need they will have limiting beliefs of “I am not good enough” along with the limiting emotions of anxiety and fear.

These unmet needs run deep and rather than challenge oneself and get out of the comfort zone and risk getting rejected, one will sabotage themselves and take the easy way out because it is a lot easier to do the same old thing and over and over again, unconsciously working with C & D clients expecting to get ones’ unmet needs met along with a different result.

This is compounded because the laws of attraction are absolute and one will attract whatever they are emotionalizing and thinking about.

Whether you want to accept it our not, the limiting beliefs of “I am not good enough” along with the limiting emotions of anxiety and fear will attract the results that you want to avoid the most.

The constant and never ending circle of C & D clients that one can never seem to be able to satisfy. What is worse, this leaves little time to service the A & B clients, and A & B clients tend to leave when the financial advisor is distracted by C & D clients.

Some of the more common unmet needs are approval, control, recognition, safety and worthiness and they can be a blessing and a curse.

These needs, like a grain of sand in an oyster provide the irritation and motivation to propel one to become a beautiful pearl after twenty five to thirty years in that an individual has taken massive action to educate himself and prospect a lot of client opportunities and thus one has become successful.

The only challenge is one cannot meet an unmet need outside of oneself through clients, designations, education, money, staff … there always seems like there is something missing.

You must learn to meet the unmet need from within which will allow you to let go of the addiction to trying to get your unmet needs of approval, control, recognition, safety and worthiness through your C & D clients.

This will make it effortless to implement your Pareto Systems and provide better service to A & B clients.

When unmet needs are met, one becomes more attractive and referable because they are not struggling to try to meet their unmet needs met from outside of themselves.

Clients and referrals want to work with them!

Go to http://www.leadingadvisor.com to receive the first three chapters of my new book entitled; Curing The Unmet Needs Disease – How To Thrive in Business By Meeting Your Unmet Needs ~ Financial Advisor Edition.

Thank you for the opportunity to be of service.

Simon Reilly