Call you or make an appointment with you online. In the training and guidance business, what are the important factors that bring results to customers? That is, less than a day’s work will achieve a target effect of more than 50%.

You can freely set a price for your charge per minute, or you can charge any amount of fees. I charge 5 dollars per minute, and 300 dollars if I book all of them in one hour. I will mention other examples below.

How to make the 1/50 rule work?

1. Force yourself out of your inherent thinking mode

Are you afraid to start a project because it is too ambitious? We all have had this experience.

Maybe you decide to start with the most valuable product (MVP), but you really don’t know how to cut development costs. If you are thinking about development issues, it means that you have thought a long way.

You should start to think about how to shorten the development time of the product to one day, not to mention that this is impossible, but think about it from different angles.

2. You should include the 1/50 rule in your schedule

I heard many people say that they don’t have time to implement their great ideas. Well, this is probably true. Because their ideas are too big to be realized by traditional methods.

When you come up with a way to realize your idea in one day and achieve 50% of the goal or effect, the work plan or schedule suddenly becomes less compact.

3. Only 50% of the results can bring great value to people

My profession is a software engineer. I value well-made, bug-free software. But do you know what I value more? Help as many people as possible as efficiently as possible, sometimes at the cost of imperfection.

4. You can make money faster than you think

When you launch a product in one day, you can save a lot of development costs and start generating revenue immediately.

Among my many 1/50 rule application products, most of them are profitable from the first day without having to do too much marketing work. In the coaching app (Magnifi.io) mentioned above, they put your information in the corresponding category. People using this app are already looking for corresponding guidance just like people searching for books on Amazon. .

Related reading:

  • Using the 1/50 rule to make you earn money within 24 hours (2) Application articles

  • Using the 1/50 rule to make you earn money within 24 hours (3) Case study

Translator: Pei Hongbo, guest researcher and economist