Knowing vs. Doing

By: Dan Kennedy on: October 7th, 2010 5 Comments

We know the Rules: 80-20, 95-5. But how zealously do we apply them?

You know that 80% of your problems, aggravation, grief, etc. come from 20% of the people in your world – customers, vendors, associates, employees. But how often do you purge the 20%?

You know that 80% of your success comes from 20% of your activity. How viciously do you fight off the unproductive activities? You should read my NO B.S. TIME MANAGEMENT book.

You know that 80% of your profit comes from 20% of your customers. Do you take them for granted or nurture them? Gold/VIP Member John Davis has an excellent program – and makes serious investment – in nurturing his top customers.

I spend a lot of money with a lot of businesses, I over-tip a lot of people repeatedly. Not one is treating me like royalty. And I feel no loyalty to any.

The 95/5 Rule is at work inside the 80/20 in every case.

The fat doctor who smokes knows. It isn’t that he didn’t get the memo.

It’s just not enough to know. It’s not good enough to occasionally or casually or selectively apply these rules. This IS where rubber meets road.

One of the things evident watching Trump throughout ‘The Apprentice’ was his impatience. Say what you want about us Type-A’s, but nothing much’d get accomplished without us. One of my favorite Mike Vanceisms, his caution against sanctioning incompetence. Mike says we have a moral responsibility not to do so.

Patience is virtue with children, elderly folk, horses, and easily broken, costly electronic items – otherwise, in the land of the entrepreneur, it is vice; it is sense of urgency that is virtue.

The majority operate on ‘tomorrow if not today’ and the majority are poor. Not coincidence.

FOCUSING RELENTLESSLY on identifying, keeping, doing, nurturing, rewarding the 5% of everything, and on identifying and ruthlessly ridding yourself of the 95% of everything, there’s THE game worth playing well.

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    ABOUT THE AUTHOR:

    Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice. For more money-making marketing tips, tactics and strategies, go to www.GKIC.com

    5 Responses

    1. People wont get this kind of thinking , that’s one of the main reasons for my interest and affiliation w/gkic…becoming a 5%er is a lot of work , but would gamble everything that it’s worth it.

    2. Daniel says:

      This stretches beyond customers and making money or your business. I was just doing this for the “bad feelings” and negative energy I’ve been getting lately from my relationships. If you just take the time to list them on a sheet of paper, and then write down possible solutions based on actions you can take, you’ll notice that 80% of them are tied to the same solution and will get fixed by it.

    3. This is a complete different way of thinking than traditional. How do you recommend to begin?

    4. April says:

      Not being one of those annoying “prove it” commenters, but I’d actually be interested in more real-world examples. Just like you said in your post, I’ve “known” about the 80/20 rule without doing something concrete about it. I think this is a good kick in the *** to start doing, but I’m staring at my client list in my mind and not even sure how or who to “fire”. Or would it be better to just make sure any excess energy I get goes to the best?

    5. David Rosa says:

      There have been much to many instances where I’ve had to take more action. the 80-20 rule is definitely one to live by.

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