The 80/20 rule for Social Media

Yesterday I had a very nice discussion on the application of the 80/20 rule (aka the Pareto Principle) on social media. The nicest application of this rule is by Timothy Ferriss in the 4 Hour Workweek. He states that 20% of your customers take up 80% of your time. So you need to lose these customers to save 80% of your time. Social Media is all about conversations, this will mean that 20% of your network will take up 80% of your time on social media. Unlike the example of the 4 Hour Workweek, this is a good thing. In social media you want to engage with as much of your network as possible. Hopefully the 90-9-1 rule which segments your visitors in 90% ‘lurkers’, 9% contributors and 1% creator is a low estimate and 80/20 is more applicable!

What do you think?

(the elderly gentleman in the picture is Vilfredo Pareto, courtesy to wikipedia for the nice picture)

The 4-Hour Workweek

A few weeks ago I bought The 4 Hour Workweek by Timothy Ferriss. This week I read it in three nights and was very excited. Apart from the fact that everybody likes the idea of a four hour work week and doing whatever you want, tim gives a lot of input about how to do this and change your life! The DEAL concept is a great way to look at your life and change it. The first two are about setting your goals in life (business and personal) and eliminating all distracting elements to work more effective. The second two are about automating your cashflow, where you own a business and it can run without you, and living it large by doing what you want to do.