|

How Freelancers Can Use the Pareto Principle

Learning how freelancers can use the Pareto Principle to level up their marketing game offers great business-building wisdom.

How Freelancers Can Use the Pareto Principle

The Pareto Principle, also known as the 80/20 rule, is a ratio used to describe certain economic and business situations, such as 20 percent of the people have 80 percent of the wealth, or 80 percent of your revenue comes from 20 percent of your customers. If you knew which 20 percent of your customers to focus on, you could forget the rest, do well, and have fewer demands on your resources.

The Business of Storytelling by Jennifer Lawler book cover

What the 80/20 Rule Means for Marketing

If you’re trying to make a living as a freelance editor—or even just make some side income—then you know that you’re supposed to do a ton of things to market yourself. You’re supposed to have a website and a blog, but not just any old website and blog, a GREAT website and a blog with 5.3 million unique views each month (and each day would be better!). And you also need to be on Linked In, Facebook, Twitter, Instagram, Pinterest, and five other social media sites of your choice. You need to be able to write sales copy and sales pitches and know exactly who to send them to and when. And that’s before you even start your first edit.

Trying to do it all can quickly lead to burnout, the feeling that you’re doing nothing well, or the abandonment of the attempt. You end up wondering why freelancing is not working out like you hoped it would.

Instead, focus your efforts on those areas that bring the greatest rewards. If you enjoy Pinterest, follow lots of boards, and have lots of followers, and these followers turn into clients from time to time, your effort will be rewarded. So, there is no need to overextend yourself by also trying to be on Twitter and Facebook.

If you have a website that clearly says what you do and how people can get in touch with you, then do you really need to spend five thousand bucks and a hundred hours making it a little splashier? If you’re not interested in blogging on a daily or at least a regular basis, then try putting that idea aside and focusing your attention on other matters.

Do a few things well, see what happens, adjust your strategy as needed, and don’t beat yourself up for not having a clone. Look for what brings results and do more of that and less of everything else.


Tips for Editors & Writers

  • Setting expectations with publisher/packager clients

    Many freelance editors are interested in getting editorial work from book publishers and packagers, and often they’re so focused on landing the client that they don’t think about setting expectations for their work. Then the first project is assigned, and they have less time than they normally have with indie authors, they’re asked to sit…

    Read more…

  • Five Tips for Freelancing for Publishers

    A lot of editors ask me how to get started in freelance editing for publishers (so many that I actually started a class to show you how to get editorial work from book publishers and packagers). Other than having the skill to do the work, the most important element in successfully freelancing for publishers is…

    Read more…

  • Line Editing for Parallelism

    Line editing for parallelism sometimes requires being a line editor detective—solving the sentence-level issues to take a manuscript to the next level. Editing Detective: Line Editing for Parallelism As a line editor, sometimes the problems I catch are obvious (“Roy laghed at the joke”) but sometimes they’re not. Sometimes being a line editor is a…

    Read more…

Join the Club!

how to become an editor

New to story editing? Begin at the beginning.

Similar Posts