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Week 31: I urge you use the 80/20 principle to find what 20% of work is getting you the most results

Welcome to week 31 of the £1 a day challenge. Where I look to work my way out of the boring 9-5 life by building passive income streams online. I start this journey with little business experience and I start by aiming to make just £1 a day online. I aim to progressively grow this daily goal and I will share everything I learn along the way.

I hope you can join in on this challenge too. To make Money Your Concern and take control of your financial situation. For a better future.

The 80/20 Principle:

So this week I express my struggles with trying to balance a 9-5, tiring job with working on growing my online business prospects. I get a lot done in the mornings but after work I normally come home too tired to focus. I just feel like there are not enough hours in the day…

Then I remembered one of my favourite books, The 4-hr work week. This book is basically a guide on how to be more productive and effective in the realm of business.

More specifically, I remembered one of the books core principles; the 80/20 principle (or Pareto Principle).

This law suggests that in a general sense in all aspects of our lives, 20% of the work we put into a task gets 80% of the results. Then the other 80% of work (the mundane, boring tasks) only gets us 20% of the overall result.

So this week I endeavoured to apply this 80/20 principle into my own business. To find the 20% efforts that get me 80% of the results. Then to focus down on this for a while.

Check out my week 31 video update to see what I found…

What’s Your 20%?

I hope by sharing this lesson learned this week, I have inspired you to look into your own business life. I urge you use the 80/20 principle to find what 20% of work is getting you the most results.

Then focus down on this work and either outsource or put the other 80% on the back burner.

My example…

So in a practical sense, I’ll show you what I found.

I discovered that in terms of building attention to the Money Your concern brand, my 4 Swagbucks videos on YouTube were getting 80% of my overall views. So I now know that there is an interest on YouTube about what I have to say about tips for using Swagbucks.

So with this knowledge I’ve decided to focus down on this and exhaust all the knowledge I can give to help people with Swagbucks over the next couple of weeks. This will hopefully bring more people to be interested in what I have to say and therefore, I will help more people with the £1 a day challenge.

The other 80% of business work I’m doing like answering emails, other YouTube and blog posts will become less prioritised for me until I’ve made the most of this opportunity.

How I made my £1 a day…

So whilst I try to build this brand I still need to make my £1 each day online. To keep the momentum going of thinking of ways I can make money online.

To do this, this week I uses Swagbucks again each day. This time, completing surveys until I reached past the 128 SB level. (128 SB’s generally= £1)

Working on surveys with Swagbucks usually takes around 45 minutes to an hour to make £1.

So I achieved this on all but one day. On this other day, I made a £3 bounty through Amazon associates. I didn’t know this beforehand but if somebody clicks through one of your amazon links, they don’t need to buy a product for you to get a commission. Another way is if they sign up to an amazon service.

In this case, somebody clicked onto Amazon with my book review link. They didn’t end up purchasing the book but the signed up to an Amazon Prime trial giving me a £3 bounty.

It seems there are a fair few ways you can earn money with Amazon associates.

Thanks for watching…

Thank you for checking out week 31 of the £1 a day challenge. I hope you now have a good idea as to how you can apply the 80/20 principle into your own business. This will allow you to become more efficient with your time.

If you’d like to join in on the £1 a day challenge, please let us know in the comments. I hope to eventually build a community around this.

To continue to follow the journey, you can either stay tuned with the Blog section of the Money Your Concern website. Or Check out the weekly update videos, straight from the Money Your Concern YouTube channel.

Thanks for reading.

Speak soon

Harry