Top Revenue Generating Activities (80/20 Rule)
Pareto's Principle (aka the 80/20 Rule) suggests that 80% of your revenue is going to come from 20% of your activities. I just read "80/20 Sales and Marketing" by Perry Marshall - a book suggested a while back on the Podcast. In it, Perry suggests that you should identify those 20% of your activities that generate the greatest results and delegate the rest.
The idea is there's $10/hour work, $100/hour work, $1000/hour work, and $10,000/hour work. Most of us do a little of each throughout a given day. In fact, we should be delegating the $10/hour work (and even the $100/hour work) and focusing on those activities that generate $1000+/hour.
So, I'd like to hear from all of you...what are your $1000+/hour activities? What are the things you SHOULD be focusing more of your time on?
I am a commercial real estate investor who is just getting started doing some wholesaling (SFH & Multifamily). So, for me:
Analyzing Deals
Meeting with Sellers
Meeting with Buyers
Public Speaking
Generating Leads
Making Offers
I'd love to hear what others consider the best use of their time. Go!