I recently read this book called the 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More, by Perry Marshall. I should preface this a little more; I have heard of the 80/20 rule for about 10 years now, however I’ve never been a very big believer in the concept. I always thought the 80/20 rule was exact, so 20% of my efforts would bring me 80% of my income. I would look at my business and say “that’s not right, because 10% of my efforts would give me 90% of desired income. So the 80/20 isn’t necessarily about just those numbers. It can be 90/10 or 70/30, but just know that in almost every instance whether it’s rockstars,billionaires, business, family, or any other thing on the planet, the rule applies. The smaller percentage of your time will net you the larger result that you’re after.
Here’s a perfect example from my business. 30% of my clients are just amazing. They treat me like the expert that I am, they allow me to do my work, they listen to what I have to say, and they net me 80-90% of my income. They are dream clients that I’ve been working hard with, and building those relationships. On the flipside, I have a small percentage of clients that take up 90% of my time for various reasons. They may not listen, or I may give them direction and they’ll go and do their own thing, and then I have to go in to solve the problem and fix things. Not all clients are created equal, but it is just comes with the business…I digress.
What I’ve found about the 80/20 rule is that it applies not just to how much money your making, but it applies to your marketing and every other part of your business. For example, I find I’m making the most money when I’m telling stories, and sharing information (like through this blog post). Two weeks ago when I read this book, I said: “That’s it, I’m putting it into practice. What do I do when I’m making the most money? I am selling. I’m selling either myself or my brand, by telling my stories. These are the things that help my business grow, so I need to find how to do more of that. That’s where I cam up for the concept of these daily Facebook Lives. Whether I want to or not, I am providing value to the marketplace daily and asking for nothing in return. What I’ve seen in a very short time is that it streamlined my lead generation process; about 80% of the meetings I have now are clients that I know want to do business with me, and I find myself selling to them less and less. The meetings are now all about qualifying to see if they will be a good fit.
Due to the success of these Facebook Lives, I’m going to be writing a book that I will be giving away for free to all my followers. While it is still a ways off in the future, I want you guys to tell me what you think of the content when you receive your copy. Again, it all comes back to this 80/20 rule. Because I found something that is working in my business (and there’s a good chance it will work in your business), I will continue to do those things that add value to the market.