The 80/2 Principle
Most people believe that when you put hard work in, you will find success. If you put in 50% hard work, you’ll get 50% in return results. The problem with that concept is that it usually doesn’t work that way. People with this mindset often spend time on the wrong things and move forward a lot slower than those who understand the concept of the 80/20 principle.
Let me explain what I mean.
Clients and Business
80% OF BUSINESS COMES FROM 20% OF YOUR CUSTOMERS
You read that right!
Who are your top 20% customers?
80% OF YOUR NEW CUSTOMERS ARE REFERRED TO YOU BY 20% OF YOUR CURRENT CLIENTS/CUSTOMERS
Who are your top 20%? They bring in over 80% of your NEW clientele/customers!
80% OF YOUR CUSTOMERS COME FROM 20% OF THE BUSINESS REACH
What is your top 20% business outreach strategy? It is bringing you 80% of your customers?
Social Media
80% OF YOUR TRAFFIC COMES FROM 20% OF YOUR KEYWORDS
Know what your TOP keywords are – they bring in 80% of all your traffic!
80% OF SOCIAL SHARES COME FROM 20% OF THE SOCIAL UPDATES
Which of your posts are getting the most attention? They get you 80% of all shares.
The Pareto Principle
The 80/20 rule states that 20% of your input creates 80% of your output and 20% of your efforts lead to 80% of the results. How nice is that?
As a business owner, you know how important it is to get as much out of your week as you can! We all know the definition of insanity is doing the same thing over and over again and expecting a different outcome.
Once I wrapped my head around this new mindset, it really piqued my curiosity!
TOP TIP:
How to 80/20 your work:
(1) Make a list of the 10 things you spend the most time on.
(2) Circle the two that truly drive your results. Do more of those.
(3) Look at the others. Eliminate ruthlessly. Automate or outsource what you can. Press pause on the rest.
(4) Repeat” — James Clear
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