The Financial Gravity Podcast
About This Show
The Financial Gravity Podcast is a weekly show for entrepreneurs and small business owners about the ins and outs of building a profitable business, including the financial and tax strategies that so many entrepreneurs miss. Hosted by John Pollock, serial entrepreneur and CEO of a publicly-traded company, the podcast features interviews with top entrepreneurs, business leaders and authors, including Michael Port, John Jantsch and Perry Marshall, about the challenges, mistakes and decisions that they’ve made along the path to profitability. With each episode, you’ll gain insights on help you think differently about your business growth strategy and find new paths to profitability and impact.
Most Recent Episode
Episode 36: Perry Marshall — Understanding 80/20 is the Key To Success
< 1 day ago
Perry Marshall is a marketer extraordinaire, and is famous in the marketing world for his books on Google Adwords, and advertising on Facebook. Many of his customers come to him to figure out how to turn clicks into customers, but in today’s episode, he will be sharing more about his insight into the 80/20 principle, and how it applies to marketing. Listen to Perry deconstruct one of the fundamental laws of not just economics and the marketplace, but the universe, and pick up some great tips on how to leverage that, to grow your business! Key Takeaways: [:20] John welcomes his guest for this episode — Perry Marshall. [2:10] Perry gives us his elevator pitch about what he does. [4:04] What exactly is the 80/20 principle from a global standpoint, and how has Perry applied it directly to marketing? [6:16] 80/20 isn't merely an economic rule of thumb; it is a law of cause and effect all over the universe. Perry explains with an example. [9:00] It's easy to see the 80/20 in hindsight, but how can you use 80/20 in advance? [13:08] Combining the principle of the hyper-responsive customer and 80/20, gives you a very predictable set of behaviors from these customers. [15:11] John poses Perry a question based on an example that's relevant to many — if you increase the price on an existing product, does the 80/20 rule still apply? [21:00] John shares his own experience of buying a company built around a software. His experience fits the 80/20 rule perfectly! [22:56] Perry suggests looking into what band of financial value hasn't been harnessed to raise the value of a company. [26:14] Perry talks about finding the levers that were previously invisible. What lever would make a customer buy an espresso machine as opposed to an espresso? [32:40] Guessing is never a good idea when it comes to choosing between ideas. One person can almost never guess what thousands of people will like or not like. [37:03] It's easier to work with the world that is, instead of the world that should be. [42:35] Perry gives a living example of the split-test, something marketers should always do to determine where the market wants to go. [47:30] Just by observing what ha