Thrive in Your VA Business with the Power of the Pareto Principle

As a virtual assistant, your time is your most valuable asset. You only have so many hours in a day to complete your clients' tasks, grow your business, and take care of yourself. So how can you make the most of your time and achieve the success in your business? Let me introduce you to the Pareto Principle!

Also known as the "80/20 rule," the Pareto Principle says that roughly 80% of effects come from 20% of causes. In other words, there's likely a small aspect of your VA business that generates the largest proportion of your income and growth.

For example, if you have 10 clients, 2 of them may account for 80% of your revenue, while the other 8 only contribute 20%.

Or perhaps of those 10 clients, 2 of them account for 80% of your stress.

So how can you apply the Pareto Principle to your VA business? Here are some ways that our friend Pareto have helped me grow my own business:

1. Identify your top clients. Look at your income or time (if you happen to track hours for tasks) to determine which of your clients are the most profitable or most enjoyable to work with. These are your 20% clients. Protect them at all costs.
2. Focus on your 20% clients. Once you know who they are, prioritize their tasks and give them your best effort. These clients are your bread and butter, so make sure they are happy and satisfied.
3. Drop your 80% stressors. If you have clients who are not worth your time (literally, as in you get little income despite putting in lots of work) or who are causing more stress than they are worth, it's time to let them go. This will free up your time, energy, and mental space for your 20% clients.
4. Apply the 80/20 rule to your own tasks. Look at your own to-do list and determine which tasks are the most important, the most effective, or generate the most revenue. Focus on these tasks and eliminate the rest.

Remember, success when running your own business is about working smarter, not harder. Focus on your 20%'ers and let the rest go. Your business (and your sanity) will thank you for it.

Hi, I'm Erin. As a VA and virtual assistant coach, I have the experience and knowledge to help you grow your VA business and?thrive. In 2012, I escaped the confines of the corporate office and have built a business that allows to me work from anywhere around the globe, with clients who make me excited to get up every day.

I've also helped over?40,000 students grow their own virtual assistance businesses, and my goal as your coach is to help you find the clarity and confidence you need to build the business of your dreams in half the time!

Check out my flagship course, VA Insiders. My 12-week comprehensive training program covers all aspects of starting and growing a successful VA business. For more information, head to www.erinbooth.com.