In this episode of the Million Dollar Mastermind podcast, Host Larry Weidel is joined by Tanya Dalton, Keynote Speaker, and Founder & CEO at Inkwell Press. They talk about the Pareto principle and how business owners can apply it to improve their priority lists. They also mention the mistake a lot of entrepreneurs make in their bid to copy competitors, while also stressing the importance of being productive as an entrepreneur. 
Key highlights include:

• In a business, it's important to give attention to everything, as everything is a priority. But as humans, this is impossible. We need to pick aspects to focus on, so it's important to know what to prioritize. Tanya mentions the Pareto principle, which simply states that it's the vital few that make the difference. For example, in a business, 15% of your customer base are the source of 80% of your revenue. Thus, it's important to prioritize that 15%. 
• An entrepreneur needs to be productive, only by doing so can you build a unique brand. Tanya says a lot of entrepreneurs are running their businesses blindly as a result of not putting in the required effort to scale the business. The goal of a brand is to have its uniqueness, which is possible through sheer commitment to being proactive.
• One of the vital mistakes that entrepreneurs make is trying to mimic every competitor's method of doing business. Tanya hammers on the importance of being unique, she says that instead of focusing on their ideal customer's requirements and fine-tuning their business in that direction, entrepreneurs try to imitate their competitors thereby losing out on all fronts. 

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