I've always been one to try to figure out ways to work smarter, not harder. Having my hand in multiple business ventures pretty much makes this a prerequisite to my success. It's easy to burn out when you are overexerting energy in the wrong places.
Reading works from some of the influential business minds of our time such as Malcolm Gladwell, Tim Ferriss, Paulo Coelho, Boyce Watkins, Tony Robbins, Daymond John, among others have provided me with numerous systems to be more efficient in all aspects of my business and personal life.
One of the concepts many of these individuals use that really grabbed my attention early on was Pareto's Law, or the 80/20 Principle. This law states that in most cases, 80% of any given results come from 20% of the causes. This can apply to just about any scenario you can think of.
Coming to grasp with this concept has been one of the driving factors in my own progression. Here are a few examples that prove the validity of this Pareto's Law :
On Average -
- 20% of your marketing/advertising efforts account for 80% of your profits
- 20% of the world's population holds 80% of the wealth
- 20% of your (bad) habits account for 80% of your tribulations
- 20% of your clients account for 80% of your sales
- 20% of your team accounts for 80% of the work done
- 20% of your activities account for 80% of your personal success
- people wear about 20% of their clothes, 80% of the time
- the top 20% most used words in a language will account for 80% of its usage in communication
Now that I've been on the SteemIt platform for roughly a month I can see instances where Pareto's Law can give us a better understanding of the results our SteemIt accounts are producing. This will show you what efforts are producing the most results. Here are some ways the 80/20 Principle applies to SteemIt and how you can use that information to build your profile :
- 20% of your followers account for 80% of your UpVotes - Track and spend more time engaging these followers because this will generally be who is supporting and appreciating your efforts the most. A SteemIt tool that is great for tracking the support of your fellow Steemians is SteemMVP.
- 20% of the members you follow get 80% of your UpVotes and interaction - Try not to get in the habit of only liking and commenting on your favorite members posts. It's easy to get into this routing when you find users who are providing great content. Make a little effort to spread the wealth and interact with other users.
- 20% of your SteemIt efforts account for 80% of your SteemIt rewards/results - Don't put an equal amount of effort into all your SteemIt activities. If you're putting a lot of time into creating posts and not getting a lot of feedback but tend to earn more when you are interacting with other members you may want to spend more time leaving genuine comments and curating good content. I'm not saying "stop blogging", but put less time into putting out numerous posts and more time interacting with the community. A great tool for tracking which of your efforts are earning you the most SBD & STEEM Power is SteemNow.
Let me know some other ways you think this law can apply to SteemIt and content creation in general. Also, think of some ways you can apply to the 80/20 Principle to your personal life. Doing this will help you point out ways to cut off a lot of the "extra fat" in your day-to-day activities and put more energy into what's producing for you.
Search for "Pareto's Law" on YouTube to look at more instances where you can make use of this universal maxim.
I love the explination you have here for the 80/20 rule. It was a great reminder to myself to read your article. When we are working hard and trying to post, comment, interact we have to remember that we are not always going to have a huge gain on each post or comment but what I need to remind myself of is to keep posting and commenting because I will have those big posts and comments that account for 80% of my profit on the website. I am going to try and interact better with those who have voted for me, as they are the ones interested in my content. Thanks for the good idea👍
Thank you...yea its easy to get lost in the sauce but principles like this one help keep me pretty grounded.
I find blogging extremely fun so I tend to just post not in hopes of gaining huge upvotes but rather gaining a quality following that will interact with me in the future. This post is definitely a great tool as I will be using Paretos Law right now. Upvoted commented and now following @elderfinancial
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