Ok… So the 80/20 Rule has been big hype for a while – especially amongst Online Business Owners and Internet Marketers. Have you tried applying it yet? Have you noticed a significant improvement in performance?
Bloggers swear by it – I tried myself and can see how useful it is to use perspective in simplifying and prioritizing all of your daily tasks.
If you are new to this rule, then get enlightened by reading our five examples.
Blogging can be overwhelming. It’s not just writing content; you need to market, learn SEO, interact with current readers and maintain the technical side of things too.
When you are first set up in business, you don’t have the money or investment to hire staff. The only option, if you want it bad enough, is to learn how to handle everything.
The Good news is:
If you are starting out in self-employment, then it will help to manage all your actions.
Other benefits include:
- All your micro-tasks will efficiently hit specific goals in the long-term.
- Achieve effective time management – don’t get lost with tasks that aren’t important.
- We all need guidelines; create a firm action plan to follow, and don’t get overwhelmed.
Being in a situation where you are in full-time employment or having a busy life, then this is ideal to make everything fit. After coming out of my job, I felt lost and out of routine for the first few weeks.
It can be timely putting the groundwork together, however, lay strong foundations to start with, then your project won’t fall apart at a later date.
So let’s get started in looking at the 5 methods to use the 80/20 rule for Online Business.
1# Use the 80/20 Rule to Start Your Blog
We are at the beginning – you have the idea of setting up a blog. There’s loads of information out there, and it can be confusing on where to start.
You are still in the idea stage, so it’s a place where anything is possible.
Draw a spider diagram – don’t research yet, as you are just clarifying everything you currently know about your future blog.
You’ll know more than you think – mainly from what your subconscious mind picks up, without your awareness.
Even if you write complete rubbish, do not judge yet. The point is to engage your mind and open the floodgates of your creativity.
Also, when you go onto researching and reading, then you’ll also find the information sticks to your memory better too.
Your ideas may radically change from this point to the finished product, so try not get possessive of work and keep your mind open to new directions.
Bad ideas are essential (experiment wildly) as they only mean development is needed to craft it into an original/good idea.
Applying The Pareto Principle To Start An Online Business:
First, let’s look at our goals!
To get our business off the ground, we need:
- A Business Plan
- A Website Published Online.
- SEO Content
- Market Research
- Education For All Areas (including your content topics)
There could be more, but for this example, let’s stick with the list.
Remember, this is just a primary example. Your action plan could be entirely different.
Make a Timetable:
Now we have a list of outcomes to get our company started, let’s put them on a timetable for your first two weeks.
These outcomes are necessary. Otherwise, we can’t build the online business to get started. To get through them and move onto the next stage – they should each take account for 20% of your work time.
If you have 8 hours in a day to work on your blog, then you should spend 2 hours on each task. You may not fit everything in only 8 hours, so you need to prioritize outcomes you need first e.g. you need a business plan and research before you purchase a website.
If your routine doesn’t have 8 hours, then this link shows you how to work out percentages. If you work full-time and can only spare 4 hours, then your slots will be much smaller.
Although it may take longer, by using this principle, you will still get to the end result in the long-term. You will also find tasks completed more accurately, and it’s the right time to hold focus before it starts drifting.
You will encourage a higher creation of grey matter, by changing up your focus frequently. Not only will you return to projects with a fresh state of mind, but you’ll also be rewarded with better problem-solving skills.
Take a look at an example of Monday’s routine – First Day of Business
By spending 20% on each of your actions, this will cause 80% of results.
The Outcomes we want in this case are:
- A Business Plan; to provide a precise map of your business.
- A Functional Blog with Content.
- You know how SEO, WordPress, and Plugins work.
- Know Your Target Audience.
- Knowledge of the basic online marketing techniques (this should be in your Business Plan)
Congratulations! Now you are on the stage for running your Blog.
2# Use the 80/20 Rule for Monetizing Your Blog
We need to ensure our Online Business makes money! There are many different methods, all depending on the type of business.
In our example, we are providing content and attracting a readership following.
Apply the following to monetize your blog:
- Google Adsense
- Affiliate advertisements, e.g., Amazon Affiliates
- Accepting Donations
- Write an E-book which goes much further than your content.
These are the basic, but, you can go in any direction once you have a blog with high daily visitors, e.g., you’ll be able to offer services or a catalog of your products to sell.
Again, using the 80/20 Rule, this is what your routine should look like in an 8 hour day:
A blog that is entirely monetized for profits, and is now ready for visitors.
3# Market Your Blog Online
Unlike the previous two methods, you will be able to witness physical evidence of the results coming back to the value of 80.
20% of SEO marketing = 80% of website visitors.
Although SEO, when done correctly, will bring in the bulk of your traffic; it’s still equally important that you don’t prioritize it to the point where social media marketing or email marketing gets neglected.
Spending 20% of your time on SEO will be sufficient, as long as you do it consistently every day. The same rules work for any significant task which doesn’t get completed in one session.
Your Goals for Internet Marketing:
- Attract Website Visitors
- Engaging visitors and encouraging followers.
- To have an effective sales-funnels to upsell your products.
- Create Customer Loyalty
As Blog Marketing is target-based, you should forecast goals for the number of visitors, number of subscribers and the amount of income you want to receive.
The End Outcome:
A popular and profitable blog
4# The 80/20 Rule For Applying CRO
Now that you have the visitors, you need to make sure your site is useful in turning web browsers into paying customers.
A technical method, similar to SEO, which will ensure your website is entirely at its most monetized potential.
Hitting a high conversion rate from traffic to profit.
There are loads of methods to apply CRO; this website provides up to a 100; however, these are some examples:
Good sales funnel will create the link in the customer’s head, between their problem and how your product can solve it.
Your website forefront should display the best selling products, and is a clue to what your market wants.
Try and find out why they are buying your product, as this can indicate clues for a strategy to expand e.g. new products that can also fulfill another part of their criteria.
Most bloggers found email engagement the most popular way to sell; either through applying affiliate ads in the email or directly promoting sales to an Ebook.
By now, you should have collected a fair amount of subscribers; make sure email content is very engaging (your topic header being the most important), you create a remembered and the content itself is fulfilling your subscriber’s demand.
Branding your website
Not only to make a smooth navigational site but also for the colors, font and pictures being visually pleasing for the visitor.
Does it send out the right message? Is it professional?
In a way, the diversity of the internet is very beneficial to online businesses, as there’s no limit to the way you can brand it – and for a very cheap cost!
Using the 80/20 Rule for CRO
Instead of putting all your energy into one method, you can use the 80/20 Rule to divide up all the techniques you can apply into the day.
As the main goal is only specific to profits, then every action you perform will bring back a result of 80% (on a good day 80% of profit returns).
The End Outcome:
A blog with a high-profit turnover
5# Running Your Blog Daily
Well… Only the time you want to run your content for until you decide to sell and move on or it just draws to a natural close (hopefully the first choice, as then the returns will be big enough for you to jump into a new business – continuing the journey of entrepreneurism).
Your blog should be running very nicely now, along with providing an income.
The actions here will very much depend on what your business is telling you, e.g., if you’ve been applying CRO for two weeks and your organic visitor rate starts to dwindle, then you’ll know you need to switch back to SEO.
SEO is never an endgame, so make sure new content is being produced consistently, along with site security, performance, fixing broken links and other technical challenges that can come up.
At this stage, most professional blogs would look to hiring staff, as to relieve the burden and have a more efficiently run business.
If you are still unsure on employing full-time workers, you can always hire freelancers from sites like Elance and Upwork.
To increase profit and the value of the business.
Taking risks and jumping into new areas and niches, will grow your business. Be adaptable and follow your market, instead of stopping and letting your investment go stale.
A successful affiliate blog could grow into E-commerce, which would include an online storefront.
New retailer companies are entering the markets through this method. It’s an exciting time, as younger generations who tend to be better at technologies, will not only start filtering into the more prominent industries – but they’ll also evolve business models into the modern times.
The Final Outcome
A Thriving Online Business!
To Round off the whole article
We hope these 5 example techniques will inspire you to manage your time more productively.
Don’t forget, use the 80/20 Rule strategy in a way which is personalized to you and take into account which tasks you prefer to do in the morning.
I prefer writing in the morning and doing the more ad-hoc tasks later in the day.
Maybe for you, it works better the other way round.