You’ve probably heard the “Pareto Principle” of 80/20 mentioned, but did you know there are some simple applications for 80/20 home business explosion? I recently read 80/20 Sales and Marketing by Perry Marshall, and worked through his course on the same topic. Today’s post includes some tips based on what I learned from both of these to help you in your home business.
80/20 Home Business Tips are simple to follow if you put a few “rules” in place, and stick to them.
The premise of the book is based on the original Pareto Principle that 80% of your results come from 20% of your effort. Perry goes on to demonstrate that this is actually a universal law, and applies to everything in our environment. For example, 80% of the traffic is on 20% of the roadways. This is compounded, so (80/20)² would illustrate that 64% of the traffic is on 4% of the roadways. Also, 64% of your results come from only 4% of your efforts. Before your eyes glaze over, let me explain and illustrate…
One of the simplest ways to approach this to implement the 80/20 home business principle. Sinply think of your activities, and determine the amount of leverage they contribute to your life and your business.
I’ve included an Infographic here to show a few examples of Low Leverage activities versus High Leverage activities. Those Low Leverage activities should be delegated or outsourced whenever possible, so you can spend more of your personal time on the High Leverage activities that will contribute to your increased results and profits in your business.
80/20 Home Business application includes having a team member screen leads and prospects. Your time should be spent with only the most qualified prospects.
A simple application here is training. Have systems in place to on-board new members, so that you can spend some quality time with them. However, core training should consist of videos, tutorials, and other team members to on-board new people. This process will also help to create a higher level of duplication in your organization.
80/20 Home Business – Focusing on the highest leverage activities for highest return.
You may be a solopreneur right now, and have no choice but to do “everything” yourself and wear a lot of hats. However, looking at this list, think of ways you can utilize your team and family to help free up more of your time for the activities on the right side of the image. The more quality energy you spend on those activities, the better results you will begin to see in your business.
Some simple suggestions for putting this into action: get your spouse or driving age teenager to run errands and go to the grocery. Contribute to the local economy by paying someone else to mow your lawn.
For business: Jump on Fiverr.com or Upwork.com to find tech help for a few dollars instead of spending HOURS trying to figure out those pesky tech issues yourself. (I speak from lots of personal experience on this one!) You can also have team members screen new prospects for you.
Using 80/20 Home Business for your team…
These same principles apply to your team as well. If you have 10 reps on a team, 2 are likely performing, and maybe one is shining. Spend your time there. We have a tendency to want to help those who “need” it the most (not performing).
However, if you spend your time with the performers, you are setting a shining example for those who aren’t getting results, and you can create training materials from this work (worksheets, videos, etc.). These can be utilized in your training system mentioned above to help overall organizations productivity and results.
Another way your team will benefit from this process is from your improved offers and sales funnels. If you are using any online marketing, small improvements to a sales funnel can have an exponential impact on your organizational results. One small split-test can increase the results of one ad or landing page by over 100%! That can help everyone on the team become more profitable!
80/20 Home Business Audio
One of the online communities I work with is Elite Marketing Pro. EMP hosts a community training Monday – Friday on their Facebook Business Page. The calls are about 15 minutes & a great way to feel good about your business. These used to be call-in sessions hosted on SoundCloud.
Here’s a Daily Dose of Awesome call that I did about applying 80/20 Home Business Tips for Improved Results & Profits:
In Conclusion, Real Life 80/20 Home Business…
Take a look at the two photos here.
We want an “Easy” button to help us find the one Red Umbrella in the Sea of Black Umbrellas. However, our reality is the closer to the second image (below). Every day we see dozens, or even hundreds, of new names, email addresses, or profiles on social media, without solid guidelines as to which 20% would be a performer, and which 4% could be a leader in our organization.
Perry Marshall’s book and course can help you drill right to the important actions to help you find the Red Umbrella every day. It’s that simple.
The book, 80/20 Sales and Marketing, by Perry Marshall, definitely opened my eyes on ways to keep improving my productivity. There are certainly some simple applications for 80/20 home business as well. You could start improving your results, and those of your team, today.
You can find more info on Perry at PerryMarshall.com.
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#8020 #productivity #perrymarshall #8020productivityexpress