I’ll let you in on a little secret. The first step toward improving yourself is to understand Pareto’s Law…
So who is Pareto and why is his law so important? Well, he was a economist, sociologist, and engineer (i.e. a genius). He mathematically proved that 80% of outputs result from 20% of inputs and that this rule applied to almost every area of life:
1. Psychology and skill: Tony Robbins says that success requires 80% mindset and only 20% skill. Having the right mental attitude is much more important than being smart or talented. This is why improving yourself is so crucial to becoming rich.
2. Wealth distribution: 80% of all wealth and income is possesd 20% of people. Ever heard of a thing called the income gap?
3. Sales: 80% of your profits come from 20% of your products. If you want to make more money, start promoting the 20% of products that bring in most of your money.
4. Customers: 80% of sales come from 20% of your customers. I hope you’re bending over backwards to please the 20%!
5. Traffic: 80% of your visitors come from 20% of your advertising efforts. Test and track as many traffic sources as you can and identify the top 20% best-performing ones. Spend more of your time and money in them.
Isn’t it crazy how this simple principal applies to so many things in life? Now, please do yourself a favor and use this to get the most out of your time and efforts. Focus on the 20% that produce 80%.