Maximize Your Earnings Quickly Using the 80-20 Principle

In today's blog, I'd like to address the question I got from a coaching client in reply to an email I sent several days ago.

And the question was, "how do I make the most money the fastest in my business?"

Before replying to the question, I want to examine it for a minute.

Now I know from speaking with this particular client that she is not necessarily generating a ton of revenue in her business already...and so the question in itself stems from a place of almost wanting not to take a ton of action... not get out of her comfort zone and do everything that she possibly can get over this first hurdle that she is facing to start generating revenue in her business.

It's trying to create shortcuts by focusing on only a few things. This will lead her to achieve better results.

Now I'm not one to say that it's not smart to work smart and it's not smart to focus on the high-dollar activity activities in your business, but what's crucial here is to realize that if you're not willing to take action on what you are learning each day... if you're not ready to get out of your comfort zone... if you're not willing to do everything that you possibly can to get your business out of that infancy phase, you're in trouble.

So, the question that was asked question is better suited to ask when you want to start focusing on when you are looking to scale your business... focusing on really figuring out which activity you should be completing and concentrating on a daily base basis to, let's say scale from $5,000 to $10,000... $10,000 to $50,000 a month, etc.

In the beginning, however, you must do everything possible to get your business out of its infancy phase.

If that requires working 12 hours a day on your business... that requires working 12 hours a day. If that means doing everything you can... three blog posts a day... Facebook LIVES every day... YouTube videos... emailing your list twice a day, etc. It means taking massive action to create something you can then leverage.

So firstly, I wanted to address the question... now for the answer to that question. Making the most money the fastest in your business comes down to focusing on the 80/20 rule. This means spending most of your time on the 20% of activities that will generate 80% of the revenue for you in your business.

As an online marketer, there are three huge things that you need to focus on and get proficient at if you want to create revenue for your business:

  • Lead Generation

  • Monetizing Those Leads

  • Following Up With Those Leads

Also, it is critical to realize that there's also a micro 20% inside that 20%. So generating leads will not be as high a paid activity as emailing your list that you already have. This is because generating leads will not necessarily produce money... whereas emailing your list and following up with your customers will. Building relationships with your list and hosting webinars for the people on your list... are all the activities that will lead to the most revenue in your business most quickly.

So to answer my student's question. If you are in the infancy phase of your business, when you're not making anything happen quite yet... that point where you know you're at zero and feel like you're about to break through... you need to utilize all available resources to grow your business from zero...let's say the $5000 or $10,000 per month mark.

Then from there, when you want to start to scale your business and make the most money the fastest with the least amount of work possible... what that all comes down to is focusing on the 20% of activities that will yield 80% of the results in your business, and even micro the micro 20% inside that 20% that will in-turn lead to even more of a compounding effect on your revenue.

So really, the highest paying activities that you can move ahead and complete in your business are.... emailing your list... having promotional webinars for your list... building relationships with people that will allow you joint venture partnerships, etc.

All those extremely high-paid activities in your business will yield the greatest results with the least amount of time invested.

I know people who make a ton of money working a few hours daily in this industry. That's because they have everything else delegated. They have everything else outsourced.

Their traffic is taken care of... their lead generation is taken care of... all of the small admin tasks are taken care of... their email replies are taken care of for them... leaving them freed up to concentrate on emailing the list. They focus on creating products. They focus on building a relationship with their list... adding value to the marketplace. They concentrate on hosting webinars, making sales, and then turning those small customers who initially purchase a $47 product into ascending customers of $297, $2000, $10,000, etc.

So those are always going to be the highest-paying activities in your business.

With that, if you want to make the most money in your business the fastest, focus your efforts and energy on the highest-paying activities daily.

I hope this answers my student's question.

Remember that if you're trying to break out of the infancy phase, you must do whatever it takes. Work like crazy to get through the grind...get your business out of the infancy phase, to the $5000... to the $10,000 per month mark, etc.

Then, I suggest focusing on the few things that will produce the most results in your business by implementing the 80/20 rule.

I suggest micro-chunking down that 20% of activities that make up the 20% in the 80/20 rule.

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