Years before I had my online businesses I was working at a health food store.
I started out as a bagger when I was 16 years old.
Later on I moved up to a stocker position. Soon I became one of the top stockers there. I re-organized the warehouse for more efficiency. I started training other stockers. I became the go-to guy at the store for anything related to what I was doing.
Later on I was moved up to the position of buying and ordering the food.
By that time I had my “side business” going. After I had released two information products online I knew it was time to move on.
Although I had a fair amount of freedom at my place of work I had moved as far up as I was going to go and the pay wasn’t that great anyway.
One of the benefits of my job is I was able to listen to audio tapes most of the time. At first it was with a CD player and later on with an iPod. I can’t tell you how many times I listened to things like Think and Grow Rich and seminars from Jim Rohn and Brian Tracy. This “brain success saturation” was very important to establishing my foundation.
The reason I bring this up is to share with you a couple of lessons.
Often I hear about entrepreneurs who say they’re un-employable. I get that but I would say it will depend on the job. If I didn’t have certain freedom to do things how I wanted them to be done I don’t think I would have managed there as long as I did.
This job site was a good learning experience for me in many ways. One of the biggest lessons I got was in the sheer incompetency of many people which I‘ll discuss more in a moment.
One thing I’ve been thinking about more recently is what is known as the 80/20 rule. If you haven’t heard about this it is well worth studying. Also known as the Pareto Principle this rule states that…
- 20% of your efforts bring 80% of your results.
- 20% of your customers bring in 80% of your profits.
- 20% of your clients bring in 80% of the troubles.
Also the reverse is true.
- 80% of your efforts bring only 20% of your results.
- 80% of your customers bring in only 20% of your profits.
- 80% of your clients bring in only 20% of the troubles.
Basically this rule extends into every area of life. And sometimes the numbers are even more dramatic like 95%/5%.
For instance in a recent sale with one of my companies many people are buying just one or two things resulting in about $10-$40 of profit. And then one customer swoops in with a $1500 order. This one guy basically matches everyone else in the profit made. Yet this one order is just about as easy to fulfill on as the small ones.
That’s the 80/20 rule at work.
Thus, if you can do more 20% work then you’ll get better and better results from it.
And back to talking about my old work I can say as a statement of fact that I was in the 20%. I could easily do about five times as much productive work as some of the other people there in the same amount of time.
There was one guy that had worked there for over twenty years. Yet he still came to me asking me questions about where things were located in the store. With guys like this I had to often check on their work as they had done things wrong. It was frustrating!
What’s worse is that this guy was being paid more than me, simply because he had been there longer. It is stuff like this that made me know I had to create my own business and work for myself. Incompetence should not be rewarded simply because you’ve been doing something longer because that does not mean you’re necessarily any better at doing it.
My point is to say that if you were a smart and hard worker at a job that is great as you’re going to be able to apply that same work to your own business. In fact, you should do even more with your own business because you get the rewards.
At my job I wasn’t often rewarded for my efforts. I didn’t make any more money from becoming more efficient or building better systems. The pay was hourly so the truth was my rewards came by taking longer time to do things. Aggravating!
But when it comes to an online business that is not true.
Here you have the opportunity to leverage your own work and the work of others and to establish automatic systems. These allow you to make more of what you do valuable.
I’ve determined that for me writing is a 20% activity. Within that the 80/20 rule will apply as well though, meaning that certain things I write will be much more result-producing than others. But still its all worth doing, and thus I’ve built a new productivity system around doing it.
I’ll be sharing some details on this in the future.
For now I wanted to shoot you a question…
Since I’m back and will be publishing new articles weekly at LoganChristopher.com starting now, on the topics of building an online business, making money and more, I wanted to get some ideas of what you’d like to hear.
What aspects of building an online business are you interested in?
What questions do you have?
Please write in the comments and let me know.