I am damn sure after having a glimpse at the title your next expectation was to hear more about hard work and how hard you should be working but no I am not going to tell you that. It is not hard work which is the Ultimate Formula for Success but it is something else.
Identify what works – no matter in what quantity and Do it Again… and Again… Improving each time.
This isn’t formula for traffic but it is actually an ultimate formula for success.
Now don’t you think you should also know the ways to find things that work?
If your answer is yes read further.
Pareto Principle of 80-20 states
The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes.
Let us apply the same to few businesses examples.
- 80% of your income comes from 20% of your clients.
- 80% of salary paid to employees is among the 20% of people hired.
- 20% of your time would result in 80% of your success
So is there anything special about 80% or 20% mathematically? No. But many real systems have seen the numbers close to those. You can always work to improve on those numbers for your business.
How to apply the principle?
Take a piece of paper and pencil and list each and every area for your business not matter how small or large that area is. Now go through the list in detail an see which if you work more will produce better results. Remember you not only need to realize what your 20% is but also work with more efforts on your 20% rather than on your 80%.
Start building your business because that is where you will find your 20%.