In accounting there’s a concept known as the Pareto’s Principle. Most people have heard of it by the name of the “80-20 Rule.”
It says that 80 percent of your profit comes from 20 percent of your activities.
And 80% of your complaints come from 20% of your clients.
From a songwriting and music business point of view, the 80-20 rule says that 80 percent of your success comes from 20 percent of your efforts.
In business, accounting, and in life, the 80 20 Rule can be a useful tool to make sure you’re spending quality time on the important items, and continuing to get rid of the time wasters.
What are some ways you can use the 80 20 Rule to benefit your songwriting and music business goals?
Video: Hear Nashville Songwriter Hall of Fame Member Kim Williams talking about using the 80 20 Rule in his career success:
Video - Eric Church official video "Talladega"
Here’s a good Case Study on how Eric Church applied the 80 20 Rule to focus on his fan club, and generate gigantic success in "Be Like Eric Church, Focus on your First Few Fanatics for a Big-Time Payoff" by John Brubaker in Entrepreneur Magazine December 9, 2015.
Want to learn more about how to apply the 80 20 Rule in your career? Get Tipping Point by Malcolm Gladwell here:
