Use The 80/20 Rule To Get To The Money

Alot of folks here on the forum are trying to figure out what the easiest ways to make money money online are and everyone's hoping someone has some sort of worth while strategy or insight that can help them avoid traps and pitfalls, right?

Well, if you use the power of 80/20 you can easily bypass hardship...and yes...I do mean easily.

See, most of the folks wrongly believe that the truth about making money online is to have big numbers and huge volume.

Although that would be ideal for most of us, the truth is one of the tenets that I've been preaching for years.

"The Value Is ALWAYS In the Minority."

What's that mean?

The most value comes from what others wish they could have but are NOT willing to reach for.

That actually makes it EASIER for those of us that ARE willing to reach for it because there's less competition.

Case in point:

Let's say one of your ways to make money is by pimping out your skills as a freelancer on one of those freelancing sites.

Now, of course there are literally HUNDREDs if not THOUSANDS of jobs available on a weekly basis with more jobs becoming available on a daily basis.

Most folks that I've coached would believe that the "low hanging" fruit is where it's at and so in order to build up your credibility you have to go for the MAJORITY low paying jobs.

Well, I skipped that program and the VERY FIRST gig I landed on one of those platforms was a $5000 writing gig.

That means I won the job without having prior feedback, 0 other awareded jobs and no real credibility to rely on, and I did it while beating out a 5 star veteran.

Why is that important?

Well, because I know for a fact it's lonely at the top and most people don't believe they have the skill set to impress someone posting a job in the $5000 and greater amounts.

That's B.S.

The truth is there is less competition at the top so all you need...the big secret to making it work for you, besides being able to actually deliver is....CONFIDENCE.

The other trick to this is that with consistent effort all you'd need to do to make good money is land higher paying gigs....and fewer of them at that.

Let me give you some numbers to consider.

Let's say you wanted to make $5000 next month.

You make a diligent effort to apply for low hanging fruit jobs in the realm of $100 to $500, right?

That means you would need to land no less than 10 $500 jobs, correct?

Let's say you tried to score gigs by being diligent at reaching out to folks everyday for a month.

You take every weekend off, which we'll say is about 8 days (2 days a week x 4 weeks).

That leaves you with 22 days to apply for jobs and land those no less than 10 $500, but that's probably not likely because you're also bidding for jobs that are in the $100 range.

By the way, that means you would need 50 $100 jobs, if those were all you were landing.

Because we're working with averages here, to keep it easy math, let's say you would need to land no less than 17 $300 jobs to reach your financial goals, ok?

In order to land 17 out of 100 job applications, that would mean you would need to convert or close, 17% of the jobs you applied for.

17%...that's freakin' unreal conversions, right?

Likely?

I don't think so, but...what do I know?

Ok, so let's contrast that with another scenario...

If you were ONLY applying for work that was between $1000 and $10,000...you could reach your same goals with just 5 $1000 jobs or by landing just 1 $5000 job.

Let's say you're just terrible at this and you don't believe you can land anything for more than $1000.

Doesn't it seem more realistic and attainable to get a 5% closing ratio, which we both know is still high, but...it's more realistic than a 17% closing rate, right?

If we were going to try and make this happen using averages, these numbers look even better.

Using averages, you'll need to close just 2 deals at $3000 a piece to reach (actually exceed) your goal.

2%...

That's like the world statistic marketing close ratio number, isn't it?

Can you see yourself closing at least 2% of your deals?

That's doable, right?

Oh, and by the way, which one sounds like a more appealing work load:

Managing 2 client projects and doing everything in your power to make sure you deliver for those 2 folks or trying to cater to 17 different people?

Which one do you think makes for a less stressful and better customer?

I can give you a hint....

Anyways, I hope this helps you see the power of 80/20 and gives you a way to see how you can use this in your marketing life.

Oh yes, and how does this apply to selling products, like here on the warrior forum?

Ever hear of the infamous OTO?

You know why those are there?

It's because, although less of them will be sold, the most money is made right there.

80/20...think about how you can leverage it in your marketing efforts.

Regards

Los