Is Running An 80/20 Biz Realistic?
Hi Folks,
I'm new to WF and have been really pouring myself into learning this biz all hours of the day / night and am in the process of launching soon... but there is one thing that keeps nagging at me, something that I'm not sure if it's 'realistic' at all ... or something that simply wouldn't work (or at least as I describe it) in the reality of running an Internet marketing biz
Before I mention It, there is one obvious reality of this business - it's made up of a gigantic jigsaw puzzle - the pieces of which you have to learn how to put together.
That said, is running a very simplified, streamlined '80/20' Internet business even possible... or are there just a way too many unknowns and trial / error and course corrections necessary to ever nail it down to one nice, neat clean formula?
Enter 80/20.
20% of one's tasks every day will be those few high-value vital tasks that give you 80% of the results of those tasks.
80% of those tasks are generally speaking low-value tasks that will give you little return but yet use up just as much time as the vital few 20% - these should be either delegated, outsourced or eliminated... or at least put off until the vital few - the 20% - are done first.
20% of the tasks one does in their Internet biz will give them 80% of their results:
If the '3' core components of an Internet business are:
1) Offers
2) List-building
3) Traffic
Could one not then take each of those 'core' topics and then further break them down into 'sub-topics' within their respective core topic:
E.g. -
1) Offers
a)
b)
c)
2) List-building
a)
b)
c)
3) Traffic
a)
b)
c)
The 'a,b,c' would be the vital 20% of tasks that need to get done each day within the vital core topic it's placed under.
In this way, you're always working on those few vital 20% tasks in each of the 3 vital core components which are giving you most of your results.
Now, those sub-tasks would be determined by tweaking and testing what works and what doesn't for your particular biz model, but you'd never start your day without very clearly working ONLY on what matters most to your biz - the vital 20%.
Even if you did nothing else all day long, knocking off the vital 20% would still leave you feeling as if you had a very productive and effective day. Everything else for the most part wouldn't matter or it's something that 'some day' you will or won't get around to if you find the time.
You simply simplify and streamline every aspect of your day-to-day schedule working only on the vital few and either delegate or outsource everything else that's giving you little in terms of return - the 80%.
In this way, you're running a very tight, simple and streamlined biz bent totally on maximum effectiveness in a bid to get maximum returns from every task you do during your day.
Realistic... or pie-in-the-sky??
I ask this because as someone who hasn't launched yet, it 'seems' really nice... on paper... but having no experience in the trenches of this business, is it something that should stay just there - on paper? lol
Is the 'reality' much much more a case of ... 'life being messy'... and therefore trial and error and course corrections?
I'd be curious to hear some other opinions out there on this!
Thanks guys and loving the helpfulness and immediacy of the folks on WF!
I'm new to WF and have been really pouring myself into learning this biz all hours of the day / night and am in the process of launching soon... but there is one thing that keeps nagging at me, something that I'm not sure if it's 'realistic' at all ... or something that simply wouldn't work (or at least as I describe it) in the reality of running an Internet marketing biz
Before I mention It, there is one obvious reality of this business - it's made up of a gigantic jigsaw puzzle - the pieces of which you have to learn how to put together.
That said, is running a very simplified, streamlined '80/20' Internet business even possible... or are there just a way too many unknowns and trial / error and course corrections necessary to ever nail it down to one nice, neat clean formula?
Enter 80/20.
20% of one's tasks every day will be those few high-value vital tasks that give you 80% of the results of those tasks.
80% of those tasks are generally speaking low-value tasks that will give you little return but yet use up just as much time as the vital few 20% - these should be either delegated, outsourced or eliminated... or at least put off until the vital few - the 20% - are done first.
20% of the tasks one does in their Internet biz will give them 80% of their results:
If the '3' core components of an Internet business are:
1) Offers
2) List-building
3) Traffic
Could one not then take each of those 'core' topics and then further break them down into 'sub-topics' within their respective core topic:
E.g. -
1) Offers
a)
b)
c)
2) List-building
a)
b)
c)
3) Traffic
a)
b)
c)
The 'a,b,c' would be the vital 20% of tasks that need to get done each day within the vital core topic it's placed under.
In this way, you're always working on those few vital 20% tasks in each of the 3 vital core components which are giving you most of your results.
Now, those sub-tasks would be determined by tweaking and testing what works and what doesn't for your particular biz model, but you'd never start your day without very clearly working ONLY on what matters most to your biz - the vital 20%.
Even if you did nothing else all day long, knocking off the vital 20% would still leave you feeling as if you had a very productive and effective day. Everything else for the most part wouldn't matter or it's something that 'some day' you will or won't get around to if you find the time.
You simply simplify and streamline every aspect of your day-to-day schedule working only on the vital few and either delegate or outsource everything else that's giving you little in terms of return - the 80%.
In this way, you're running a very tight, simple and streamlined biz bent totally on maximum effectiveness in a bid to get maximum returns from every task you do during your day.
Realistic... or pie-in-the-sky??
I ask this because as someone who hasn't launched yet, it 'seems' really nice... on paper... but having no experience in the trenches of this business, is it something that should stay just there - on paper? lol
Is the 'reality' much much more a case of ... 'life being messy'... and therefore trial and error and course corrections?
I'd be curious to hear some other opinions out there on this!
Thanks guys and loving the helpfulness and immediacy of the folks on WF!
The SEO Experiment
My Niche Website Challenge
Paul Hill on Squidoo