Feb 19, 2018
If you're not familiar with 80/20 and its profound effects, prepare to have your mind blown. And if you are familiar with 80/20, you know you’ll find at least 80% of the content valuable (we’d like to think it’s closer to 100%).
In this episode, author Perry Marshall illuminates some of the concepts and principles behind his groundbreaking book, ‘80/20 Sales and Marketing.’ But not in the convoluted, super-geeky way you might think (although there’s the perfect amount of that peppered in). Rather in a refreshingly entertaining way through offbeat stories and tangible action steps to help you increase profitability and productivity in your business.
Fair warning…once you get this inside your head, you'll never see the world the same again.
3:11
07:25
Vegas, gambling, strip clubs, and sawed-off shotguns ends up as highly relevant information.
10:50
“Everything you do in marketing is racking the shotgun."
13:09
17:27
"It's not possible to look out your window and not see something that's 80/20."
19:32
You have to subtract. "Most of us, myself included, habitually want to say yes to everything…”
If your business has matured to any degree, you have clients who are losing you money.
Unless you're doing it deliberately, you shouldn't be doing it."
22:55
"The effective stuff is 16x more powerful than the ineffective stuff."
24:55
If you have a Starbucks and every week 1000 people buy a $5 late, one of those 5K people will spend $2700 on an espresso machine.
"80/20 says there's a law of attraction. In mathematics and science, it's called an attractor."
30:17
If you know how many people will buy one pair of shoes at Payless for $19.94, you can figure out how many people will spend $2K on a pair of pumps.
31:32
Everyone's taught to think about average.
33:18
35:44
The story of kindhearted Mattress Mack and how he housed Houston hurricane victims, went viral, and cost an undisclosed amount of keynote speakers a gig.
39:13
They're indoctrinated with equality.
41:14
"The amount of time you spend on clients and projects and problems has almost no relationship to their actual profitability. Because you're treating the world the way your first-grade schoolteacher trained you to treat them and you're not thinking like an entrepreneur."
42:45
"Entrepreneurs are students of reality...we cannot afford to live in some fantasy world."
44:56
If you're strategic in working with 80/20, you'll get a completely different result.
45:26
"For those that understand [80/20] ...you can do with it what you want. But you can't deny it. It's kind of like denying gravity and jumping off a roof."
46:27
"About 5 years ago, I had 2 teenagers and they were starting to get an attitude. And the attitude was, 'My latte’s too frothy.' So I took them to Calcutta, India."
49:27
"Principles work. Techniques are not guaranteed to work but principles do."
Order Perry’s book here >> 80/20 Sales And Marketing
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