21 {{ upvoteCount | shortNum }}
21 {{ upvoteCount | shortNum }}

mike filsaime agrees with 80/20 rule, do you?

by visimedia
18 replies
do you agree with 80/20 rule for online marketing? 80% of your result will be generated from only 20% of your efforts?
#80 or 20 #agrees #filsaime #mike #rule
  • Profile picture of the author Ernie Lo
    Correct that's why its important to test everything about your business so eventually you can identify the 20% and scrap the crap and keep doing more of the activities that produce positive results.

    Then you go play off to play golf, get a massage or sleep and come back to see cash coming into your account like magic
    {{ DiscussionBoard.errors[2279464].message }}
  • Profile picture of the author Marco Yandun
    That is the old "Pareto's rule", which says 80% of your income comes from 20% of your customers, or 80% of your income comes from 20% of your assets,

    Marco
    {{ DiscussionBoard.errors[2279476].message }}
  • Profile picture of the author CliveG
    Yes, it's based on the long-standing "rule" which says "80% of your profit comes from 20% of your customers". It's true for a great many businesses.
    Signature
    AdsReact - Innovative Website Software that Supercharges YOUR PPC PROFITS!
    {{ DiscussionBoard.errors[2279481].message }}
  • Profile picture of the author ChrisBa
    the 80/20 rule goes well beyond affiliate/internet marketing.. and has been around for a long time..
    Signature
    {{ DiscussionBoard.errors[2279629].message }}
    • Profile picture of the author Jason Fladlien
      I do not agree

      It's more like the 90/5 rule... 5% of efforts get 90% of results. Okay, it IS a principle of the "vital few" for sure.

      More important than using the 80/20 rule in your own business is to use parkinson's law which is the task at hand will expand to feel the allotted time. Most people never set a deadline. Guess how long the task at hand is? FOREVER!

      Almost everyone "gets" the 80/20 rule but so few practice it... forget about the 80/20 rule for productivity and just use parkinson's law and set insanely short deadlines -this will AUTOMATICALLY make you focus on the vital few things that bring in the majority of the results.
      Signature

      Co-creator of WP Twin. Perhaps the most expensive yet most reliable wordress cloning tool on the market. We've definitely been used more successfully than all other options :)

      {{ DiscussionBoard.errors[2279682].message }}
      • Profile picture of the author CDarklock
        Originally Posted by Jason Fladlien View Post

        More important than using the 80/20 rule in your own business is to use parkinson's law which is the task at hand will expand to feel the allotted time. Most people never set a deadline. Guess how long the task at hand is? FOREVER!
        Make your deadlines brick walls.

        Let's say you're building a membership site. You set a deadline of, say, July 15.

        Commit to yourself that if you don't have your membership site running on July 15, you will delete everything you've done and start over.

        The consequences of missing the deadline should HURT... a LOT.

        And you'll be surprised how much stuff you suddenly can get done on time.
        Signature
        "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
        {{ DiscussionBoard.errors[2282892].message }}
        • Profile picture of the author Andyhenry
          Originally Posted by CDarklock View Post

          Make your deadlines brick walls.

          Let's say you're building a membership site. You set a deadline of, say, July 15.

          Commit to yourself that if you don't have your membership site running on July 15, you will delete everything you've done and start over.

          The consequences of missing the deadline should HURT... a LOT.

          And you'll be surprised how much stuff you suddenly can get done on time.
          I don't buy into that thinking.

          My goals are positive ones and are about me doing as much as I can by the deadline.

          I think having drastic negative consequences may work for unmotivated people who need a stick rather than a carrot but it doesn't work for me.

          If I had a deadline that felt bad - I wouldn't take on the work.

          Life's too short for everything to be a battle or trying to avoid negative consequences. I'd rather strive for maximum results and enjoy the journey whatever the results actually are.
          Signature

          nothing to see here.

          {{ DiscussionBoard.errors[2283048].message }}
          • Profile picture of the author JohnMcCabe
            The "80/20 Rule" came about when an economist named Vilfredo Pareto analyzed the distribution of wealth. He noted that 80% of his country's wealth at the time was concentrated in the hands of 20% of the population.

            Since then, this rule of disproportionate results has been applied to many things with some accuracy...

            If you have a 1,000 square foot house, you probably do most of your living in about 200 square feet of it:

            > The space you occupy in bed
            > The space occupied by your favorite chair
            > The space in your bathtub or shower
            > The space you walk in moving from place to place

            If you have 100 channels available on your TV, you probably watch 20 or less of them regularly.

            The percentages are not always going to be a nice round 80/20. It might be 60/40 or 90/10 or something else.
            {{ DiscussionBoard.errors[2284123].message }}
  • Profile picture of the author Andyhenry
    I posted about this in my WF blog here - 2 years ago:

    http://www.warriorforum.com/blogs/an...nciple-im.html
    Signature

    nothing to see here.

    {{ DiscussionBoard.errors[2279679].message }}
  • Profile picture of the author BobRenwick
    Apply this to time. 20% of your time produces 80% of you most positive results. Time and its use is a huge stumbling block to many people, myself included. I constantly find myself second guessing the way that I use my time.

    Earlier this morning, for example, while in the middle of doing a blog post I suddenly caught myself staring at the TV watching, of all things, the national anthems prior to a World Cup soccer match.

    Funny, I don't think the time I spent doing that will make me much money and it definitely added to my blog posting time.

    Oh well, at least now I know what the Paraguay national anthem sounds like.

    I know life is not all business and that we need to stop and smell the roses but gimme a break!
    {{ DiscussionBoard.errors[2279724].message }}
  • Profile picture of the author Lou Diamond
    Hello,
    I really think it has changed with all the people with a d d and a d h d and all of the other people that think that money will come to them without taking any action.
    I would say it is now the 90/10 rule.
    Signature

    Something new soon.

    {{ DiscussionBoard.errors[2279727].message }}
  • Profile picture of the author Michael Oksa
    Kind of like asking "Do you agree with the law of gravity?"

    ~M~
    Signature

    "Ich bin en fuego!"
    {{ DiscussionBoard.errors[2279735].message }}
  • Profile picture of the author Zabrina
    Certainly! On a related note, I've noticed an inverse proportionate relationship to the amount of work I get done and the amount of time I spend browsing WF.
    {{ DiscussionBoard.errors[2279780].message }}
  • Profile picture of the author netmomof2
    I'm not sure about the percentages, all I know is that in everything I do, when I put in MORE effort, concentration and energy into something, I produce more results.

    I always thought the 80/20 rule referred to 80% of people in your downline not doing anything or just being customers while the 20% (or less) will work to build the business.
    Signature
    Powerful 8 Day Internet Marketing Bootcamp:
    www.LydiaBotello.com
    {{ DiscussionBoard.errors[2279812].message }}
    • Profile picture of the author Venturetothetop
      I kind of agree with Jason. In many of the business' I consult for (including some major TV firms), it's usually 10 percent of customers that bring in 90% of profits.

      There are a number of ways to increase profits:

      1) reduce costs
      2) increase price
      3) Add more customers
      4) Get the same customers to buy more and frequently return and buy more.

      It's the one's that understand point 4, that really get down to as little as 10% of customer bringing in the lions share of profits.
      Signature

      [B]

      {{ DiscussionBoard.errors[2279838].message }}
  • Profile picture of the author sanset76
    This is nothing new it is called the Pareto principle where 80% of the results come from 20% of the causes and this does not apply only to IM but pretty much sure for anything else
    Signature

    {{ DiscussionBoard.errors[2280242].message }}
    • Profile picture of the author IM Cash Rebel
      It's absolutely true. You can however improve on the numbers through testing, tweaking, and scaling.
      {{ DiscussionBoard.errors[2280264].message }}
  • Profile picture of the author alniches
    Vilfredo Pareto's rule if I am not mistaken. I used it a lot not only in IM but also offline sales vs effort kinda thing. I'd also apply the law of averages to forecast a possible return..
    {{ DiscussionBoard.errors[2282841].message }}

Trending Topics