Do you want to give yourself a raise? If you want to know how to make more money, then apply the 80/20 Power Curve to the time you spend in your day.
An 8-hour day has 480 minutes. Let’s say you get paid $20 per hour. How much is the work you do actually worth? $20/hour x 8 hours/day = $160. If we look at your day in terms of 8 hours, it looks like this:
Number of members = 8
Total output of members = $160
The Power Curve, in Figure 15–1, page 116 of 80/20 Sales & Marketing, shows that the least valuable hour in your $160 day is worth $8.96 and your most valuable hour is worth $53.74.
It gets even more interesting if we divide your day into 480 minutes:
- Your average earnings per minute is 33 cents.
- The least valuable minute of your day is worth 7.6 cents.
- The most valuable minute of your day is worth $15.49.
Fifteen bucks a minute? Now what does this actually mean? Is this how to make more money?
It means that when you’re filing your fingernails or chatting with your friends on Facebook, your value to your employer is very low. To say you’re worth 7.6 cents per minute to your employer while you’re texting your fishing buddy is generous, to say the least. It also means most people really get only about one to two hours of real work done each day and the rest of it is “busy-ness”. It means the true 80/20 individual can work one day a week and take the other four off. You just have to make that day really COUNT. And this is how to make more money.
Forbes Magazine says, “Perry Marshall has taken the Pareto Principle to the next level.” – Dave Lavinsky, Forbes, January 2014
“If you don’t know who Perry Marshall is, unforgivable.” – Dan Kennedy, author of No BS Sales Success
“One of the all-time top 10 business books to impact your bottom line.” – Bill Harrison, Bradley Communications
“I thought ‘Oh, I’ve heard this before. Another book about 80/20.’ Shame on me. It’s PHENOMENAL!” – Tony Rubleski, author of Mind Capture
“Perry Marshall is about to blow your mind!” – Michael Gerber, author of The E-Myth
“Best marketing book I’ve read this decade.” –Bob Bly, author of The Copywriter’s Handbook
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