In today’s video, I discuss the 80/20 Principle for Sales and Marketing.
As I explain in the video, it’s best to focus on the 20% of jobs that bring you 80% of the results.
Enjoy the video.
If you are really into the video I did about focusing on the money making activities to focus on daily.
Hope you get lots of value and also feel free to check out on YouTube here as well.
Enjoy and please share and comment!
Welcome to another episode of Driving With Nick Pratt, in this episode I’m going to be talking to you about the 80/20 principle or rule, what it actually is, how it applies to your business, and how powerful it is.
I want to discuss how important the 80/20 rule is, whether you’re in network marketing, affiliate marketing, even internet marketing.
First of all, you’ve probably heard of this before, and what it means is that 80% of the results come from 20% of your actions. It isn’t always 80/20 in real life, it could be 95/5, it could be 90/10. The point is, the minority of your actions bring in the majority of you results.
Once you understand this, it is super powerful.
A few months ago I did a video on focusing on the key tasks in your business that bring the money in and get you paid. (You can check that video out here)
This is the same sort of thing – it’s about focusing on the core things that bring in 80% or 90% of your results.
What people tend to do running a business is that they are constantly busy and constantly working, but they’re working on tons of different things. Most of those things are not responsive for brining the money in. The point of a business is to provide value to the market place and bring money in.
This is something that, if you’re in business, any business, you have to understand the 80/20 marketing principle, otherwise known as the 80/20 rule.
I’ll tell you a little bit about how I have done some study on this recently. I decided to read a book called 80/20 Sales and Marketing by Perry Marshall, it’s an absolutely amazing book, and I’ve heard a lot of good thing from people about the book. I read tons of business and personal development books, and it is unbelievable. It really changed the way I think about things and the way I think about business. Even though I was aware of the 80/20 rule before, this makes you think about it in a whole new light. I definitely remember checking that would. You can click the link, or if you go to NickPratt.tv/8020book that will redirect you to Amazon as well. I don’t say this lightly, but it really is a book that will change your life in business and also just life in general. It shows you that there’s a lot of small things you need to be doing to bring in huge results, and there’s lots of things that are bringing in people to your business that you need to outsource or get rid of.
This will really help your business. You have to understand what core things in your business you need to be doing to bring in big results. We’ve all done things where we are really busy throughout the week working on our business or working really hard, but if we really look at the time spent on our business, a lot of that has been spent on admin, paperwork, accounting, all kinds of things which are essential for running a business, but they don’t bring in the income. If a business doesn’t bring in the income, you don’t get paid!
You should be focusing on the highest leverage tasks for you to bring in the money. If you’re in something like Network Marketing, Top Tier, Direct Sales, whatever, it’s probably going to be something like prospecting. That’s what brings the money in, and you need to find a way of automating the lead generation, and automating other things.
Just to sum it up, definitely grab this book, it will change your life and your business.