Jonathan Cronstedt on how to leverage the 80/20 rule
As we close out the first week of our 21-Day Blogging Challenge, I want to tell you about another of the gadgets, gizmos and goodies that I just can’t live without. A book called The 80/20 Principle by Richard Koch has completely transformed the way I see life and business. I get more in-depth on it in my YouTube video.
Basically, the principle is based on the premise that 80 percent of our outcomes come from 20 percent of our input. In other words, 80 percent of your success is the result of 20 percent of your actions.
We always want to look for areas in our personal and professional lives that offer a greater return from minimal investment, and when you apply this principle to your life, you can discover the little hinges that swing big doors.
When you’re able to determine which of your actions have the greatest impact to move your life or business forward, you can learn to exploit this imbalance. This allows better freedom for the other 80 percent of your time, which you can spend on your passions or other things that excite you. Who knows, maybe I could finally get busy writing The Definitive Autobiography of Jonathan Cronstedt. Sounds catchy, right?
The principle, also called Pareto’s Law after it was originally observed by Italian economist Vilfredo Pareto, is used extensively in affiliate marketing and at Empower Network. Koch, who started out at Bain and Company, grew $12 million into $200 million by learning to leverage this principle, among others.
Perhaps one day people will be talking about Cronstedt’s Law (once I decide what that will be), but until then, you should definitely pick up this book. Also, be sure to register for our Vegas Revolution conference here.
Jonathan Cronstedt is the CEO of Empower Network, an affiliate marketing, software and leadership training company. You can follow Jonathan on Twitter @thejcron.
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