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Let’s face it, running your online business or hobby site requires a lot of time. Since time is a premium, you should focus your efforts on the tasks that bring in the most revenue for your business.
That’s why you should focus on the Pareto principle:
The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes.
Business-management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population; Pareto developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas.
It is a common rule of thumb in business; e.g., “80% of your sales come from 20% of your clients”. Mathematically, the 80-20 rule is roughly followed by a power law distribution (also known as a Pareto distribution) for a particular set of parameters, and many natural phenomena have been shown empirically to exhibit such a distribution.
So how can you use the Pareto Principle to make more money?
1. Stop being a server admin.
Yeah, it’s fun to install, configure, and troubleshoot applications you want for your website. However, doing this is zapping your effectiveness. I can’t tell you how many times I’ve been dragged into productivity killing tasks involving troubleshooting web applications I’ve installed or my employees need help with.
Quite simply… installing, configuring, and troubleshooting should be left to the pro’s. You should be focusing on what you do best – growing your online business.
After all, if customers aren’t coming through the site, then you aren’t making money, right? Read the story »
A few years ago, we hosted our main website at a big web host (we won’t mention any names)
that promised fanatical everything.
Long story short, we had to eventually move out after we didn’t receive the level of support
that we were paying for. Furthermore, we discovered that we could get quite a bit more with
other companies for what we were paying.
Maybe you are suffering from a similar situation at your existing web host?
Reasons to move your website might be:
1. Bad Support with current web host (like we suffered)
2. Lack of scalability (your web host can’t handle the Christmas rush in traffic)
3. Slow Website (packed in like sardines)
4. Over-priced for what you get
If you are thinking of moving, or have considered moving web hosts recently…
Now is the time to do it… and here’s why:
Black Friday and Cyber Monday.
Quite simply, you won’t find better deals at any other time of the year. In fact, some of these
deals only come around once a year – so now is the time to take action.
Stay tuned… Read the story »
If your small business presence on the web is just starting out, you’ve jumped into the game at precisely the right time. Cloud e-commerce services and software have exploded. The cloud has created new opportunities for small business start-ups in a truly unprecedented way.
These are just some of the accomplishments of the cloud:
The cloud has leveled the playing field in the competition for online customers. As a small entrepreneur, you have the same access to the resources that larger enterprises heretofore supported in-house with large capital resources and staff. Read the story »