E43: The Magic of 80/20 with Perry Marshall
Perry Marshall is one of the world’s most expensive and sought-after business consultants. He’s endorsed by FORBES, INC Magazine, and the most respected entrepreneurs in the world. Clients seek his ability to integrate engineering, sales, art and psychology. In this episode, we explore the 80/20 principle and how it applies to sales, decision making, clients, and even employees within your business.
Some of the highlights of the show include:
- Chaos theory states that slight differences can cause significant changes in future outcome.
- 80/20 Sales and Marketing is one of Perry’s most popular books. The 80/20 theory that 80% of revenue comes from 20% of your customers can be seen as a pattern within every aspect of your sales, and within every aspect of life and business.
- This principle isn’t a given. You must have the correct products and pricing in place to make it work.
- Pruning your clients, and employees, can save you significant amounts of money and effort.
- Seriously consider improving your revenue and life by hiring a personal assistant.
- Perry’s other books include Ultimate Guide to Facebook Advertising, Industrial Ethernet, Evolution 2.0: Breaking the Deadlock Between Darwin and Design, and Ultimate Guide to Google Ads.
- Best advice Perry’s received: “Seek wisdom… It’s different than knowledge.”
- Best book on business: Book of Proverbs from The Old Testament
- Best personal habit that contributes to success: journaling, meditation, and prayer before engaging with the world.
- Internet resource: 8020curve.com
- Book recommendation: The Star Principle by Richard Koch
- PerryMarshall.com/8020 to get 80/20 Sales and Marketing for a penny plus shipping, $7 USD.
- The Star Principle by Richard Koch
- 80/20 Sales Marketing
- “(The 80/20 principle) has been a way that we’ve been able to generate significant amounts more revenue and our best customers.”
- “It’s not just about predicting.”
- “120% of your profit comes from 20% of your customers. Some other portion of your customers, maybe the bottom 20%, lose 20% and they pull you back down to 100.”
- “I, Perry Marshall… …grant you permission to fire (bad) clients.”
- “A bad hire costs you 14 times their salary.”