The Pareto principle is the idea that a small number of inputs create a disproportionate amount of the outputs.
It’s also called the 80-20 rule because 20% of inputs cause 80% of the output.
Source: Slide Model
This shows up across a lot of things:
80% of muscle growth comes from 20% of the exercises
80% of land is owned by 20% of the people
80% of happiness and support come from 20% of your friends
It’s also shown in business.
20% of customers make up 80% of profit and 20% of your work makes up 80% of results.
One easy way to use this idea into your business is The Dream 100 strategy.
Here’s how you can do it.
1/ Create a list of 100 of the most influential clients, partners, or influencers
Create a list of people or businesses you can work for, partner with, or collaborate.
Create a document or Google Sheet.
Write down the 100 of the most influential clients, partners, and influencers in your niche.
Include their contact information, social media profiles, and any valuable information you might have.
This will take a lot of time but has very high leverage.
2/ Warm up the list with valuable gifts and interactions
DO NOT ask them to buy from your business or collaborate with you right away.
Start engaging with their content and commenting for a few weeks. Join the communities that they are in.
The point is to build a connection before asking for a favor right away.
Here are a few ways you can message them and warm them up.
Give a free gift: Message them and give them access to your own product or something that is valuable to them. This creates reciprocity and makes them more inclined to respond to your later ask.
Ask them a question: If you saw any content that was confusing or have a genuine question, this is a great way to start a conversation
Give them advice: Help them by giving a quick tip for something related to their business or content.
Make the thing you talk to your Dream 100 client about related to your offer. If it is unrelated, your ask won’t seem genuine.
3/ Wait 3 days, then ask
After you strike a conversation, do not pitch them right away.
Your act of generosity will seem like a sales tactic, and they will not listen to you.
Wait at least 3 days and if any valuable advice or questions come up, ask them.
How I used the Dream 100 strategy:
I created a list of 100 larger newsletters and businesses I could collaborate with.
I subscribed to all their newsletters. I joined communities where people do list swaps. And I cold-messaged newsletter collaborators.
I got rejected a lot. But now I’ve collaborated and partnered with over 8 of my Dream 100.
- Warren
PS: If you get to know even one person in your Dream 100, it will open up many opportunities.
You can reach mutuals from their followers that are in your Dream 100.
All you need to do is mention that you’ve met with [Dream 100 client they know] and you will gain trust.
PPS: If you want a detailed guide on creating irresistible cold messages, check out this article.