You may well have heard of the 20-80 Principle, sometimes known as Pareto's Law.What the principle means, in brief, is that 80% of virtually everything is owned, achieved or created by 20% (or sometimes less) of the people.
In business this means that 20% of the people create 80% of the profits.
So what has all of this got to do with blogs?
Quite simply it means that:
(a) 80% of your profit will come from 20% (or less) of your productsWe can use this Principle or Law to our advantage by concentrating our efforts on the 20%. It's why I often write about 'playing to your strengths'.
(b) 20% (or less) of affiliate programs will give you 80% of your money making income.
(c) 20% (or less) of affiliates you sign up will produce 80% of your affiliate introductory bonuses.
If there was a school reunion where 20 of your class mates attended 16 would have just 20% of the combined wealth. The other 4 would have 80% of the wealth.
In simple terms - whatever is making the most money from blogging is where our efforts and time should concentrated ... but, of course, most of us don't do this as 20% of our time produces 80% of our effort - the other 80% of our time only generates 20% of our income.
Food for thought as this 20-80 ratio applies to most things in life ... happiness, gambling, wear and tear on a product, users of natural resources ...
20-80 - use it wisely!
Good luck,
Mike.
