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We Love Your Songs.com

WE LOVE YOUR SONGS BLOG


Tuesday
14th Feb







The 80 - 20 Principle

 

80 20 pareto principle

 

The 80/20 principle states that, for many events, roughly 80% of the effects come from 20% of the causes.  The 80/20 principle is often applied in business as a guideline to say for example, 80% of your profits come from 20% of your customers, or that 80% of your sales come from 20% of your products.

For musicians, this means that you will be doing yourself a huge favor by taking care of the core 20% of fans that really support you.  If you haven’t already, you might consider making a fan club, and offer these core fans special benefits like opportunities to meet the band or visit a recording session.  Even if you don’t take it to that extent, you might create an additional mailing list of people who have bought your products, and give them special benefits.

In my own case, the 80/20 principle acts as a reminder for me to review how I’m using my time to make sure I haven’t fallen into a rabbit hole.  Sometimes I find myself working on things that really aren’t worth the time and effort, and I have to decrease their priority or cut them out entirely so that I can be more efficient.

 

Article written by Isaku Kageyama. You can follow him on Twitter at @isakukageyama.



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