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One Key Concept To Growing Your Internet Business In 2009

If you’ve attended any sort of time management, goal setting or time management class in high school or college, you’d feel that you might have been beaten over the head with the Vilfredo Pareto bat.

Originating as a study that showed 20% of Italy’s population held 80% of its wealth, the concept of Pareto Efficiency (also known as the Pareto principle or 80-20 rule) introduced the idea of efficiency into everything you do. It’s not just enough to work hard, you need to work smart too.

Being (or wanting) to be a lazy affiliate marketer, it’s necessary to get a handle on this concept, especially if you want to hit your 2009 goals (it’s almost the end of January, you did set them, didn’t you?)

So this is your brain and the stuff you can work on every day:

90-10 rule

I’d go one step further to suggest that working in “internet time”, the 90-10 rule applies.

A merely 10% of your efforts are going to be responsible for 90% of the results you get, because of the vastness of the internet, the efficiency of technology like email marketing, PPC, social media and the fact that analytics and conversion tracking allow you to position with your marketing efforts with laser-like precision.

The bottomline is that you can get by with a minimum of effort and survive at subsistence-level online income, or you can focus on what’s going to get your results and act on it.

Let’s look at what WON’T get you your dream home, dream car or (fill in your preferred goal):

  • Checking out your friend’s friend network on Facebook, LinkedIn, MySpace
  • Reading forums for some new “trick” to try to add to your existing campaigns
  • Answering email (unless it’s related to getting your payouts increased or getting into an exclusive offer while the network is testing it)
  • Creating a prettier social network avatar
  • Browsing Flickr
  • Checking Twitter, plurk, friendfeed every 5 mins
  • Watching youtube, metacafe, revver, viddler for “research” or “education”
  • Doing keyword research and then doing nothing about it

The key to getting what you want is to take aggressive action. It’s ok to do something and fail and learn from it. It’s another thing to come up with an idea, spend a couple of days working on it, possibly running a little bit of traffic to an offer and then deciding it doesn’t work and killing it before trying out some new trick.

The fact is that persistence pays off. The guys who are more successful in the affiliate business and internet marketing in general are the guys who try more “stuff”, and conversely “fail” more too.

If your chances of success in anything you do online is 30% (on a conservative basis) then it means that out of every 10 things you do, 3 will work. Or to reduce it further, one out of every 3 things you do will succeed.

Given that logic, some will try one thing at a time and hope that it’s within the 33% success parameter.

Still others will keep doing at least 1 or 2 new things each day and keep working at it, knowing that the new winner is just around the corner.

Knowing what you know up to this point, what’s your approach to 2009 going to be?

6 comments on One Key Concept To Growing Your Internet Business In 2009

  1. Terry Dean
    January 28, 2009 at 6:26 pm (8 years ago)

    I definitely agree with this philosophy. I’ve often said I failed my way to success online. This is true of most everyone else who has made it online. You try something. You tweak it. You totally flip it. Then you try something else. Eventually you find more and more ways that work for you and your business.

    The only failures in this business are those who try a few things and quit…or they keep trying the exact same thing without changes. Then they give up and quit.

    And what works for one marketer may NOT be the best strategy for all. For example, PPC works very well for some people while others do poorly at it. And I could follow most other strategies the same way.

    Find what works for you in your market. Test everything small. Then roll out big with what works.

  2. Buddy Cheeks
    January 28, 2009 at 11:37 pm (8 years ago)

    I couldn’t agree more. I like Ian Fernando’s motto, “Failing at Success is a Great Hobby”. However, I do have to stress the fact that you must learn from your mistakes. In my experiences, when I loose money or precious time, I learn and learn well. Keeping this sort of attitude helps me look at it as a positive and less of a deterrent. But, in our microwave society…many individuals close their minds and hop on the next hot topic.

  3. MLDina
    January 29, 2009 at 3:48 am (8 years ago)

    Great advice. Too many affiliates start half-heartedly, and give up far too quickly. Affiliate marketing is like any other job- you have to put in the effort to get things done. Just because you’re working from your bedroom doesn’t mean you can sleep the day away and still make money. It would be nice, but it’s not a very realistic mindset. Good luck to everyone taking action or thinking about it!

  4. Leo
    January 30, 2009 at 12:39 am (8 years ago)

    Hi Andrew,

    I have to agree with you on the “numbers” game. It is like Myspace all over again and these marketers make a very lame attempt to correlate success with how many people are following them. Personally, I do see the correlation (maybe one of these people could explain this to me).

    What I think is more important is the connection that you get from the people who follow you AND the people you are following. I have been using Twitter as a means to connect and network…

  5. passive income ideas
    February 7, 2009 at 11:18 am (8 years ago)

    No venture no gain. If you don’t try you’ll never succeed in anything. I think it boils down to how much you believe in yourself and your determination. You can’t taste success without having met some failures I guess.

    Peter Lee

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