In every facet of business and life, the 80/20 rule applies.
I learned how to use this rule effectively in my prior career as a financial advisor.
What is Pareto's rule? Basically, 80% of your results come from 20% of your activities.
As an advisor, 80% of my revenues from clients came from my top 20% clients.
This article will focus on using this rule in your internet business.
Pareto's 80 20 Principle - Time Management Savvy time management will heavily improve the growth and strength of your business.
What key tasks and activities do you need to manage and deliver? Decide on the top 20% and spend 80% of your time on these priorities.
Do you have a user-friendly website with some good content? Are you spending time on revenue generating activities? These priorities are probably more valuable than checking emails throughout the day.
Consistently seek activities that lead to revenue for your business.
Pareto's 80 20 Principle - Clients and Business Networks Who is the right kind of customer for you? Who are the right business partners? As you develop your business, choose a niche and focus most of your time and energy on the top 20%.
They will bring you both 80% of your revenue and career enjoyment.
As you seek identify people who you work well with, business and life becomes so much more fulfilling.
You get to decide, so choose wisely.
Pareto's 80 20 Principle - Marketing Are you spending money aimlessly chasing for better branding and more customers? You may benefit by doing some careful research or hiring a consultant.
Get clear and then invest 80% of your marketing dollars on the top 20% marketing needs for your business.
Not every marketing strategy is a good fit.
What's working best for others in the same niche? Which strategies and techniques are the best for your business? In summary, the Pareto Principle is a good tool to make you effective and efficient.
Stay persistent in building your business with this principle in mind.
Eliminating and focusing your business is rejuvenating and healthy for you.
You can have your cake and eat it if you keep at it.