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THE 80/20 RULE YOU NEED TO KNOW ABOUT

INTRODUCTION

This is one of my favorite areas of time management,. I like it because it is such an easy concept to understand and it makes carving up your activities and the results so easy and it really makes sense.

I first learned this when I was a young lad of 21 and I have used it ever since in all my various business activities...It works! This section will explain clearly what it is and how you too can incorporate it into your daily work...

The Pareto Principle

Smart and intelligent people use the 80/20 principle in their personal as well as professional life to enjoy maximum success. Vilfredo Pareto, a well known Italian economist, created a mathematical formula to describe the unequal distribution of wealth in his native country and according to him, 20% of the population owned 80% of the wealth.

After Pareto made his observations, many people observed the same pattern in their own areas of expertise and they accepted the fact that a minority of causes, inputs or efforts normally lead to a majority of results, rewards or outputs.

With the evolution of time, many people started applying this rule in every aspect of their life and eventually, 80/20 principle has become an inevitable aspect of all business success stories.

How do you use the 80/20 principle in your online business? Take a look at these important aspects:

This is the LAST time I will ask you to look through a list of items and select the ones that can help you with your own time management! Have a look and see what you can use...

(1) Understand the Pareto principle completely.

You do not need to learn rocket science technology to understand this principle and it can be described as a simple concept that delivers excellent results.

Everybody knows that time is money and your valuable time should be managed really well to achieve the expected results.

Time management experts always assert the true relevance of this principle in making an online business highly successful and when you apply it properly, you can enjoy amazing results.

In order to understand this concept thoroughly, you need to understand three basic interpretations of this principle.

(1) 20% of your customers produce 80% of the results

(2) 80% of your problems come from 20% of your customers

(3) 20% of your activities produce 80% of your results

Now, they can be interpreted in regard to how you are spending your time. Since 80% of activities generate only 20% results, the remaining 20% of your activities produce 80% of your results.

So it is always advisable to focus on the 20% to save your valuable time.

For example: if you are working 10 hours a day, 80% is 8 hours and 20% is 2 hours, and if you cut the 80% that does not deliver the expected results, you can come to the conclusion that you ar0e working only 2 hours to produce the best results for your online business.

So the 80/20 principle teaches you how to generate optimal results with minimal efforts and this rule will assert the importance of adopting a systematic method of approach as well.

(2) Create an activity log for a week.

You should create an activity log for every week and every day, you must list all activities for the day. At the end of the day, you can find how long it took you to perform all these tasks.

After a week, you can rate each of those activities, based on how well it is helping to build your online business. This method of approach always helps you avoid wasting time for unproductive activities…

Things like subscribing to unwanted newsletters, reading irrelevant blogs, answering emails throughout the day, surfing internet without a concrete plan and many more such distractions keep you from the important and meaningful work that bring cash in.

(3) Identify and focus on the best visitors, subscribers and customers.

If you want to apply 80/20 principle in your online business, you should always focus on the best visitors, subscribers and customers (20%) because they are the ones who bring 80% results.

Your primary goal should be to write sales pieces for them and it is a well-known fact that you cannot please everybody who visits your site. The best method of approach is to focus on activities that help you build your own group of followers; in fact, a well-knit group of followers and buyers.

The 80/20 method advocates the importance of spending quality time on finding out the features, benefits and emotional end results that your best customers are looking for and, by doing so; you will be able to focus more on the 20% activities that produce 80% results.

(4) Learn how to prioritize your tasks.

When you prioritize your tasks, you should take into consideration two important factors and they include potential profitability and time constraints as well.

When you manage to identify the potential profitability involved with a task, you can always expect most efficient results and the time constraints should always be given the due attention they deserve.

If you focus on these two important aspects while prioritizing your tasks, you can achieve better results with minimal efforts and time and, the remaining time can be used for other important activities.

(5) Avoid distractions and give yourself strict guidelines.

You need to follow strict guidelines to complete important tasks and unwanted distractions should be avoided. It is always advisable to make use of reliable online time management tools to find out where you become unproductive and such an approach protects you from committing the same mistakes again.

(6) Focus on one task at a time.

When you sit down to work, you should not spread your time between multiple tasks. Since you have prioritized your tasks, you can work on it until it is finished and this process is often known as killing projects.

(7) Find out the most suitable social media platforms and focus only on them.

Identifying the most relevant social media platforms is the key to build your online business successfully and you can use a time management system and calendaring system to allocate proper time for your social media activities.

It is always advisable to automate certain parts of the social media with other types of quality online tools like CRM software as well. You need to have an agenda for your social media and this agenda should be kept in mind while engaging with the best visitors, subscribers and customers in a daily manner.

(8) Make use of Google Analytics in the best manner and follow good habits.

When you come to know about your traffic sources in a detailed manner, you can easily identify the best visitors and Google analytics always helps you learn about your traffic sources.

You can also follow good habits like creating projects based on the individual parts of your business, creating daily checklists and taking the guesswork out of your business and so on.

Breaking down your tasks and, figuring out how you are building income and get traffic are the best ways to implement 80/20 rule and these simple and valuable tips always help you use 80/20 principle in your online business with utmost efficiency.

OK, only one more section and you will have completed this tutorial! The last subject we will cover before winding up the training is some advice and tips on finding out the best times for you to get your online marketing work done. It is not a one size fits all solution! ===>