We named Pareto Realty by design.
I wanted our firm’s name to embody in as few words as possible the essence of our purpose as a real estate firm.
I knew that what I wanted to birth is a firm which would attract the “right people” who would come together as professionals and find just the right mix of camaraderie along with the appropriate level of support and training to give them the leverage they need to perform in life . . . not just in their business lives but also in their PERSONAL lives.
I wanted these folks to be “Performance Oriented” people . . . the Elite, the best, buttoned up, ship/shape, motivated, community oriented, loving, sharing, real, AUTHENTIC people . . . LEADERS!
and I did not want to create a business model that relies on recruiting (coercing) associates to join us . . . we wanted natural, organic growth.
As I thought this through, it became apparent to me that what I was creating was a “20%” firm . . . a firm with only “the vital few” amongst its membership.
Meanwhile . . . I read Seth Godin’s blog every day. Seth wrote a very provocative post about naming a company saying that the name should be more than just the family name. It should mean something even if it’s cryptic – easy to remember – short . . .
PARETO fits the bill.
Here’s where “Pareto” comes from – I quote from WIKIPEDIA
The Pareto principle (also known as the 80-20 rule, the law of the vital few) 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 in 1906 that 80% of the land in Italy was owned by 20% of the population; he developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas. It is a common rule of thumb in business; e.g., “80% of your sales come from 20% of your clients.”
So . . . We are Pareto Realty – The home for some of The Vital Few Real Estate Professionals in our market.
Notice, I say “The home for SOME of The Vital Few” – This is intentional. We have no aspirations of “cornering the market” with respect to having the full membership of all 20%ers in our market. We know that a healthy market desires a variety of business models and that our model is not the “one size fits all” model.
Our mission includes being Leaders amongst REALTORS . . . Vendors . . . and our community . . . in an inviting way . . . and to create a firm that fosters an environment in which our members can “stay in their 20%” and live their lives to their fullest potential.
That’s all I know this morning 🙂
Just hadda let it out of my head . . . the cool thing is that everyone who hears “Pareto Realty” stops, thinks, and asks why?
I’m just sayin’
PS . . . How are you branding YOUR business in a memorable way?