How’s Business?

Good I hope! But do you sometimes get frustrated about how you are progressing in your home based business? Or do you find that you are constantly being distracted whenever you turn your computer on? Or do you find yourself running around trying to get things done when actually if you look at your days progress you realise that you don’t have much to show for it? Well I know how you feel.
80/20

The 80/20 Principle To Your Business

The 80/20 principle refers to the Italian economist Vilfredo Pareto’s discovery that will help any business manage time to achieve more results. Pareto’s principle explains how you can look at many aspects of your business and then break it down into 80/20%. When you start looking at your home based business does any of the following look familiar?

80% of sales come from 20% of customers?
80% of progress comes from 20% of time?
80% of results come from 20% of plans?

The list goes on but I am sure that you understand Pareto’s principle. If you look at where you are in your business and think about how you got there, then I think that you will agree that the 80/20 principle is very relevant for all of us.

You may be very effective in your marketing strategies but are you efficient?

For some free videos on how to be more efficient in your business just click here!!!

Just keep in mind that 20% of your efforts are likely to be accounting for 80% of your profits. So stop wasting time on the ‘trivial’ and concentrate on the ‘critical’.

Feel free to comment below if you have anything to add to this post! :)


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gibbo

7 Comments
Aidan
Aug 24, 2010

Thanks for the compliment Ryan! Appreciate it!

Ryan Shaffer
Aug 22, 2010

H Hey Aidan, Great post- imagine a lot of people can relate to this, as I’ll bet everyone’s been there where we try to do so much we forget the truly vital things to building your business. You have a really smooth blog. Keep it up.
.-= Ryan Shaffer´s last blog ..How To Out- Recruit You Competition =-.

Aidan
Aug 22, 2010

You are welcome Jennifer!

Jennifer Akers
Aug 20, 2010

Hi Aidan,

I first heard of the Pareto Principle from my hubby. Once you wrap your head around the concept, it does wonders for streamlining your workload. I have so many ideas that I’d never have the time to properly approach each one. By keeping this idea in mind, I can focus on the tasks that truly bring the most to my business. Thank you for the reminder!

Best,
Jennifer
.-= Jennifer Akers´s last blog ..Does Cheap Radio Advertising Really Exist =-.

Dr. Adam Sheck
Jun 21, 2010

Aidan,
Great post, thanks so much. In addition to the 80/20 in business, I also use it in my couples counseling practice. An example would be, 80% of the love your partner receives from you comes from 20% of their loving efforts. It’s such a powerful principle.
Thanks,
Adam
.-= Dr. Adam Sheck´s last blog ..Can’t Buy Me Love: How Do Finances Affect Your Relationship? =-.

Krista Abbott
Jun 19, 2010

Aidan,
The 80/20 concept goes far in building business. It is not always about how busy we are, but how effective we are with the time we are busy. Creating a life of freedom is the goal, so exploring any methods to be more efficient and practical while still getting results is very important. Thank you for sharing your thoughts on this timeless truth.
Krista
.-= Krista Abbott´s last blog ..Gulf Oil Spill Deepwater Horizon: A Child’s View =-.

kebabope
Jun 18, 2010

Hi Aidan,
My fist time here but this is exactly what i needed to hear,recently i have been battling with focus,just like what you said every time i switch on my computer i found myself doing a lot of things at once,its either I am on facebook,then checking email,at the same time watching an informational video and the list is endless.At the end of the day its frustration because i couldn’t accomplish what i intended to do.Thanks again for the insights i have never actually paid attention to this rule and never understood it. Will have to do research on it. :-)

Best regards

kebabope Morapedi
.-= kebabope´s last blog ..What Are My Goals And Dreams? =-.

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