The Numbers Game

Here’s one of the single most powerful tool you can use to organize your business.

Its a numbers game.

The Pareto Rule

I love the Pareto rule. Vilfredo Pareto was a nineteenth-century Italian economist who observed that 80 per cent of Italy’s wealth was owned by 20 per cent of the population.

For example, in your business, a vital few activities result in 80 percent of your income.

Twenty per cent of all your actions will account for 80 per cent of your results
Twenty per cent of your customers will account for 80 per cent of your sales
Twenty per cent of your products and services will account for 80 per cent of the value of what you do.

Another way of putting it is that if you have a list of ten tasks, two of those tasks will be far more valuable than the other eight tasks put together.  Each of the tasks may take the same time to accomplish, but one or two of the the tasks may contribute five
or ten times the value.  Sometimes just one task can be worth more than the other nine together.

The Pareto rule relates to efficiency. It means focusing on stuff that matters rather than spreading yourself thin. Unfortunately for most people trying to make money online, they are stuck on the wrong side of the Pareto Principle. They keep focusing on the 80 percent of their time that delivers hardly any return.  Sounds familiar?

It’s easy to constantly get distracted from your main line of work, especially if you are working from home. So how can you fix this? I recently read this interesting book about time management and it helped me put my online business back on track. Need help to manage your time? Read the latest tips here!

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