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The 80/20 Theory with Perry Marshall
In this episode of the podcast Gavin is joined by Perry Marshall to talk about his 80/20 theory, being an engineer that moved into sales and marketing and what he means by “racking the shotgun”.
For a podcast discount go to www.sell8020.com and fill in the form you’ll get both Perry’s books for $14.00 (international), $7.00 (US).
You can donate to Gavin’s JustGiving page for The Ocean Cleanup by clicking here: https://bit.ly/3DRZefO
Donating through JustGiving is simple, fast and totally secure. Once you donate, they'll send your money directly to The Ocean Cleanup, so it's the most efficient way to give - saving time and cutting costs for the charity.
KEY TAKEAWAYS
-
Racking the shotgun is sending a signal out into the world and pay attention to who turned their head. Everything you do in marketing is racking the shotgun – sending an email, posting on Facebook, attending a webinar, listening to a podcast. There’s an 80/20 split: 80 don’t turn their head, 20 do. The 20% is where 80% of the value is. The more you rack the shotgun the more responsive, higher quality person you attract.
-
The 80/20 mindset is understanding that the world is ridiculously unequal, and it runs on inequality. It’s baked in like a law of physics. It’s not a conspiracy and injustice that 20% of the people have 80% of the money and vice versa, it’s baked into the laws of the universe. Civilisation exists to mitigate 80/20, a disproportionate amount of money WANTS to flow to a small number of people, this is how the world works. Nobody’s gonna repeal the law of 80/20. I business you gotta figure out how to harness it.
-
You’ll get nowhere if you spread yourself over and posting constantly on all the social media platforms. Everybody needs to get good at one form of getting traffic (human beings that are paying attention), be that in store, on Facebook, reading emails – and you need to find one way that you’re good at flipping people from casual interest to actually buying something. Google ads were how I got people through the door and emails was how I sold.
-
Most people can only sell to people they’ve been and you’re only gonna sell to the top 20% of them and the top 20% of them will be paying your bills. So, there’s only a small amount of people you’ve got a fighting chance of getting a significant amount of money from. More than half of my company’s revenue comes from less than 30 people and I know all these people by name and what their businesses do.
BEST MOMENTS
‘You can explain 80/20 in a minute, but spend a lifetime learning and discovering the nuances of how to apply it.’
‘You can’t help the 80% of people who can’t sell, you have to look after the 20% who can, regardless of what a mess they are personally.’
‘I dare you to name any company in the world that’s good at selling through all the different types of media platforms – or that are even good at 10. The best companies in the world might be good at two or three.’
‘The vast majority of entrepreneurs sell through a very small number of people and will dial in very precisely to what those people want.’
ABOUT THE GUEST
Perry Marshall is one of the most expensive business strategists in the world. He is endorsed in FORBES and INC Magazine and has authored eight books. At London’s Royal Society he announced the world’s largest science research challenge, the $10 million Evolution 2.0 Prize. His reinvention of the Pareto Principle is published in Harvard Business Review, and his Google book laid the foundations for the $100 billion Pay Per Click industry. He has a degree in Engineering and lives with his family in Chicago.
CONTACT METHODS
https://www.perrymarshall.com/
ABOUT THE HOST
Gavin Scott is a born entrepreneur with a passion for start up and scale up. He has over 20 years real estate experience in investment and development.
Gavin says: Over the years I have discovered that mindset is everything. Now, that might sound obvious, but it is! You see the number of awoken minds are very few in reality. Whilst acknowledging mindset is key it is absolutely different from utilising, influencing, impacting and effecting great change, for yourself, your loved ones, friends, colleagues and the wider public.
Why?
Like most of us I have had many ups and downs. I want to share the lessons learnt and promote a better environment for all, internally and externally!
How?
Through sharing my own experiences and hosting some fabulous individuals including some big household names to discuss key topics around mindset and the success formulas I hope the listener will become inspired to create space for change for betterment in their lives. I aim to inspire change by encouragement, not by force. I intend to inspire by education, not by regulation.
CONTACT METHODS
View all episodes
By Gav ScottIn this episode of the podcast Gavin is joined by Perry Marshall to talk about his 80/20 theory, being an engineer that moved into sales and marketing and what he means by “racking the shotgun”.
For a podcast discount go to www.sell8020.com and fill in the form you’ll get both Perry’s books for $14.00 (international), $7.00 (US).
You can donate to Gavin’s JustGiving page for The Ocean Cleanup by clicking here: https://bit.ly/3DRZefO
Donating through JustGiving is simple, fast and totally secure. Once you donate, they'll send your money directly to The Ocean Cleanup, so it's the most efficient way to give - saving time and cutting costs for the charity.
KEY TAKEAWAYS
-
Racking the shotgun is sending a signal out into the world and pay attention to who turned their head. Everything you do in marketing is racking the shotgun – sending an email, posting on Facebook, attending a webinar, listening to a podcast. There’s an 80/20 split: 80 don’t turn their head, 20 do. The 20% is where 80% of the value is. The more you rack the shotgun the more responsive, higher quality person you attract.
-
The 80/20 mindset is understanding that the world is ridiculously unequal, and it runs on inequality. It’s baked in like a law of physics. It’s not a conspiracy and injustice that 20% of the people have 80% of the money and vice versa, it’s baked into the laws of the universe. Civilisation exists to mitigate 80/20, a disproportionate amount of money WANTS to flow to a small number of people, this is how the world works. Nobody’s gonna repeal the law of 80/20. I business you gotta figure out how to harness it.
-
You’ll get nowhere if you spread yourself over and posting constantly on all the social media platforms. Everybody needs to get good at one form of getting traffic (human beings that are paying attention), be that in store, on Facebook, reading emails – and you need to find one way that you’re good at flipping people from casual interest to actually buying something. Google ads were how I got people through the door and emails was how I sold.
-
Most people can only sell to people they’ve been and you’re only gonna sell to the top 20% of them and the top 20% of them will be paying your bills. So, there’s only a small amount of people you’ve got a fighting chance of getting a significant amount of money from. More than half of my company’s revenue comes from less than 30 people and I know all these people by name and what their businesses do.
BEST MOMENTS
‘You can explain 80/20 in a minute, but spend a lifetime learning and discovering the nuances of how to apply it.’
‘You can’t help the 80% of people who can’t sell, you have to look after the 20% who can, regardless of what a mess they are personally.’
‘I dare you to name any company in the world that’s good at selling through all the different types of media platforms – or that are even good at 10. The best companies in the world might be good at two or three.’
‘The vast majority of entrepreneurs sell through a very small number of people and will dial in very precisely to what those people want.’
ABOUT THE GUEST
Perry Marshall is one of the most expensive business strategists in the world. He is endorsed in FORBES and INC Magazine and has authored eight books. At London’s Royal Society he announced the world’s largest science research challenge, the $10 million Evolution 2.0 Prize. His reinvention of the Pareto Principle is published in Harvard Business Review, and his Google book laid the foundations for the $100 billion Pay Per Click industry. He has a degree in Engineering and lives with his family in Chicago.
CONTACT METHODS
https://www.perrymarshall.com/
ABOUT THE HOST
Gavin Scott is a born entrepreneur with a passion for start up and scale up. He has over 20 years real estate experience in investment and development.
Gavin says: Over the years I have discovered that mindset is everything. Now, that might sound obvious, but it is! You see the number of awoken minds are very few in reality. Whilst acknowledging mindset is key it is absolutely different from utilising, influencing, impacting and effecting great change, for yourself, your loved ones, friends, colleagues and the wider public.
Why?
Like most of us I have had many ups and downs. I want to share the lessons learnt and promote a better environment for all, internally and externally!
How?
Through sharing my own experiences and hosting some fabulous individuals including some big household names to discuss key topics around mindset and the success formulas I hope the listener will become inspired to create space for change for betterment in their lives. I aim to inspire change by encouragement, not by force. I intend to inspire by education, not by regulation.
CONTACT METHODS