Episode 132: Successfully Utilizing the 80/20 Principle with Perry Marshall

<p><i><strong>For Episode 132 of the Wealth On Any Income Podcast, Rennie is joined by Perry Marshall. Perry is one of the most expensive business strategists in the world. He is endorsed in FORBES and INC magazines and has written eight books. His reinvention of the Pareto Principle is published in Harvard Business Review, and his Google book laid the foundations for the $400M digital advertising industry.</strong></i></p><p>Perry has consulted in over 300 industries. At London’s Royal Society, he announced the world’s largest science research challenge, the $10 million Evolution 2.0 Prize. He has a degree in Engineering and lives with his family in Chicago.</p><p><i><strong>Are you utilizing the 80/20 principle in your life and business?</strong></i></p><p><strong>In this episode, Rennie and Perry cover:</strong></p><p>01:53 Why Perry believes the 80/20 is the most powerful thing that nobody properly explained to you.</p><p>05:00 The charity that Perry founded called <a href="ReversingCancer.org" target="_blank"><strong>ReversingCancer.org</strong></a> that funds projects the standard medical and scientific community doesn't fund because it's too far outside of the usual models.</p><p>07:15 Who Perry’s typical clients are and how the 80/20 rule can help them.</p><p>07:52 How the 80/20 rule was a big part of how Perry first got famous almost 20 years ago with his book on Google AdWords.</p><p>10:06 Perry gives you permission to fire some of your clients - he shares a story of giving this advice at a keynote.</p><p>13:09 Perry shares that for most people,10 or 20% of what they are doing is out of guilt, obligation, or habit, and that they shouldn’t be doing those things at all and his ‘racking the shotgun story’.</p><p>17:03 How to use ‘racking the shotgun’ in your marketing and how the math works for the 80/20 principle.</p><p>21:29 Perry shares his biggest failure – his involvement in a well-known multilevel marketing company and how he learned that quitting is part of the 80/20 principle – you cannot say yes t