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Looking to Make More Money with Your Business? Remember the 80/20 Rule
If you’ve had your online business for a while, there is a good chance that you’ve started making some money with it. If you have, the next thing you may be wondering is how you can make more money with it. I definitely don’t blame you. Once you’ve started earning money with your business, you’re going to want to figure out how to grow it even more.
The Pareto Principle
The first question you should ask yourself, is how are you earning your money? The second question you should ask yourself, is what are you spending your time doing? In other words, you need to figure out what’s working and what isn’t. After that, the easy thing to say is to do more of what’s working, and stop doing what isn’t.
You need to think of the 80/20 rule, also known as the Pareto Principle. This says that 80% of your results come from 20% of your work. That sounds great, doesn’t it? If you can figure out what part of the 20% of your work is making you money, it’s possible you can stop a lot of the other 80%. You can then spend more time on the 20%, and earn more money!
While that sounds easy, the problem is that you first have to know exactly what’s working and what isn’t. The best way to do that is to track everything. From there you can look at your data and…
