My website is based on the 80/20 rule. It is often referred to as the Pareto Principle. The rule states that a majority (80%) of results will come from few (20%)actions. That is, there is the vital few and the trivial many. For example, did you know? * You wear the same clothes 80% of the time. * A few bills make up 80% of your expense. * You call the same people 80% of the time. My website 9010LIFE, kicks it up a notch, and goes for that extra 10%.
Monday, February 21, 2011
Buy it whole, sell it in pieces
You might say, this is not novel! The chicken industry have been doing this for years. They will sell you chicken breast for $5/pound, and drumsticks for $2/pound. While that's true, we don't apply this idea enough to realize the 80/20 benefit. Let me give you an example of what I just sold on E-bay. I purchased the McDonald's coupon pack where you get 12 coupons.(3)of the following (4)items for free: hamburger, french fries, pie, and milk. I purchased a bunch for $3/pack on e-bay. It turned out that I bought too many, and needed to get rid of them. I decided to split up the pack, and sell (6) hamburgers for $3, etc. So, I made a 100% profit. This is just an example to get you thinking. What else could you buy in whole and split it up to make a profit? Recently, I purchased a used TIVO for $10. The lady no longer had a subscription and the unit was just sitting around. Since I own (3)TIVOs, I bought it to harvest it for parts. However, I could sell parts on ebay for people looking replacement parts.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment