In the past, I had sometimes days on which I was constantly spinning my wheels and not arriving anywhere.
Those were the days where my to-do list seemed to have a sort of magic power over me.
I was doing little random things nonstop but at the end of the day still felt unproductive and got nothing done.
Do you know those days?
The days where you work your butt off and aren’t seeing much of a result?
It sucks! Because it seems that you’ve wasted your precious time on nothing.
Thankfully I studied management and learned a few great tools to get stuff done, amongst others also the 80/20 rule.
This rule can be applied to your life and to your online business very easily and will be a gamechanger for you.
In this post, I briefly explain what the 80/20 rule is and show you exactly how to apply the 80/20 rule in your life and in your online business.
TABLE OF CONTENT
- What is the 80/20 rule
- How to use the 80/20 rule in your online business
HOW TO USE THE 80/20 RULE IN YOUR ONLINE BUSINESS
WHAT IS THE 80/20 RULE
The 80/20 rule is an effective tool, mostly used in time management and marketing but can be applied to any area of your life.
It’s also known as the Pareto principle, invented by Vilfredo Pareto back in 1895.
A rough definition of the 80/20 principle is that 80% of your results originate from only 20% of your activities.
This means that the rest 80% we spend our time on won’t move the needle forward just waste our time.
So we want to make sure that we focus on the 20% as often as possible as these are the things that bring us the result we want.
Applied to business it means
- 20% of your tasks will give you 80% of your results
- 20% of your time will generate 80% of your outcome
- 20% of your products will make 80% of your profits
- 20% of your customer will generate 80% of your sales
The other 80% of your tasks, time, products and customers, on the other hand, will only give you 20% of the results.
This 80/20 is just an approximate figure.
In reality, it could be also 70/30 or 75/25.
The main take away here is that there is always a larger and a smaller part and that the smaller part usually gives us what we want.
What can you do with this information?
The key here is to identify the vital few, 20% and to spend time on those instead of 80%.
By applying this amazing tool to all areas of your life you’ll get your desired results more quickly with less effort.
Because you stop wasting your time on the 80% that won’t bring you closer to your goal anyway and focus on the 20% which moves the needle forward.
Want to learn more about the 80/20 rule?
British author Richard Koch wrote an entire book called the 80/20 principle: the secret to achieving more with less.
HOW TO USE THE 80/20 RULE IN YOUR ONLINE BUSINESS
In order to be productive and a real ninja in seeing results in your online business, it’s important to define those vital few 20% you want to spend your time on.
And to spend as little on the other 80% as possible.
To find out the important 20% ask yourself the following questions:
- What are those business goals that take you 20% of action and give you 80% of the results?
- Which are the weekly, monthly tasks in your business that take 20% of your time and bring you 80% closer to your goal?
- What are 20% of the tasks you can do today to build and grow your business and reap 80% of results?
- Which 20% of the topics on your blog bring you 80% of readers to your website?
- Which 20% channels (social media, search engine, etc, free or paid) bring you 80% of traffic to your site?
- Which are the 20% of products that give you 80% of your sales?
You want to truly dive in to see what those few things are that move your biz forward and focus on those instead of the rest.
Observe all your actions from an objective point of view and ask yourself questions before you start working on it.
Do you really need to spend 1 week to rewrite your about me page or are there other tasks in your business that are more important to build and grow your online business?
Now there are certainly topics in our business we can’t simply eliminate and have to do even though we know that it isn’t the vital 20%.
Set yourself for those tasks time limits and get them quickly from your plate.
Don’t overthink those things, just get it done and give more attention to the rest.
Keep in mind that the 20% doesn’t mean that these are quick and easy tasks.
You can write 2 blog posts on 2 different topics and both can take you the same amount of time to create it.
However one can bring you 80% of readers to your site and the other just a few.
The key here is to analyze, notice, focus on the vital few and to spend more time on those.
In particular, for the example with the blog posts, you can install Google Analytics to see which blog posts perform best and create more of those.
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