Perry Marshall is an internet marketing guru that first became popular as a Google Ads expert.
I actually read this book a couple of years and only got to summarising my notes from the book recently.
I recalled that I didn’t really like the book. It could be because I’ve been in the industry for a while now, and a large part of the book was, to me, common sense.
If you’re new to marketing, you might learn something new.
Here are my notes from the book.
- 80/20 says 80 percent of your results come from 20 percent of your efforts, and 20 percent of your results come from the other 80 percent.
- The real power in 80/20 is that you can disregard 80 percent of the roads in your city, only look at the top 20 percent, and the 80/20 rule will still apply. 80 percent of the 80 percent of traffic is on 20 percent of the 20 percent of roads.
- 80/20 and 80/20 ² are true of almost anything you can measure in a business.
- That means every one of these things is a source of leverage. It means that each has multiple layers of leverage that you can obtain by “zooming in”—80/20 ² (250:1) and 80/20 ³ (4000:1). It means you can combine many of these factors together and cut huge amounts of waste out of your day and your budgets.
- That, my friend, is how you harness 80/20: I call it racking the shotgun. You send one calculated signal that most ignore, but a few to respond to. You might not even have to make that move yourself. Someone else can rack the shotgun—you just have to watch. It separates the 80 percent from the 20 percent. 50 people in the club; 10 heard the shotgun sound, forty didn’t. Fastest way to separate the amateurs from the pros. Before you bet your precious time or money on any sales, marketing, or business endeavour, you need to rack the shotgun.
- Selling to the right person is more important than all the sales methods, copywriting techniques, and negotiation tactics in the world. Because the wrong person doesn’t have the money. Or the wrong person doesn’t care. The wrong person won’t be persuaded by anything.
- “Rack the shotgun” means triggering your audience and seeing who responds.
- One of your highest aspirations as a marketer should be becoming the alchemist who crafts endlessly irresistible offers, such that people spend a disproportionate amount of money with you. Not only do they buy from you instead of anybody else, they spend far more buying your kind of thing than anyone might have ever expected.
- If you sell 1,000 products, each product should have its own USP. But you also have a personal unique selling proposition that stands distinct from your current product or business. It’s the inherent groove based on your passion, personality, and experiences that you carry with you at all times.
- Learn to love repeating even basic things over and over again until you achieve perfection. Don’t fall in love with bright shiny objects. Fall in love with mastery. What should you master? Some aspect of marketing or sales that you naturally love and excel at—harnessing the natural forces of who you are.
- The essence of getting more money for what you sell is: “Sell results, not procedures.” ▷ If you want to command higher prices than anyone else, then guarantee better results than anyone else.
- Master formula for a Power USP: “If you are_______ (qualifying type of customer or company) and if you ________(commit X dollars and follow steps Y and Z), then you will achieve _______ (specific results) or else _______ (penalty to me, your vendor).”
- Everyone who makes more than $30 per hour should have a Personal Assistant. Even if you’re an employee, you should hire one out of your own pocket. You’ll come out way ahead. ▷ Your PA can do just about anything for you and easily save you 10 hours per week. ▷ You’ll probably have to try out a few people before you find a good match. ▷ Make sure the person you hire respects confidentiality and doesn’t have “boundary issues” with you. ▷ A high-power PA will become one of your most mission-critical team members.
Enjoyed this? Then buy the book or read more book summaries.