The 3-17-80 Rule

Hey friends, it's John Assraf, New York Times best selling author of Having it all and the Answer and CEO of Praxis now, where we help individuals and companies with the neuroscience of maximum achievement for business and for life. Now here's a question I have for you about your business. Have you ever found yourself trying to sell somebody your product or your service, only to find that you've wasted enormous amounts of precious time and money trying to convince them to buy what you have to offer? The reason I suggest this is because so many people think that everybody's their customer. And the answer is that not everybody's your customer. In this video, I'm going to share with you an easy to understand framework to help you work with the most qualified buyers only so you stop wasting your time and start earning more income and revenues and profits for your business right now. Something I learned many, many years ago was to divide people into three buckets and I call it the 317 and 80 rule. The 317 and 80 rule. And here's how it goes. If you think about out of every hundred prospects, three are ready to buy your product or service right now. If you're fishing for the right type of prospects, 17 may be interested or may have a need or a want for what you have, and 80% really are just kicking the tires around because they have nothing better to do. When you focus all of your energy and attention and your marketing and your sales on first and foremost, finding the three that are ready to buy right now and getting the 17 into your sales funnel and into some kind of a process by which you can build trust, build rapport, engage them, and discover how your product or service can help them. What you'll be doing, in effect, is investing the majority of your time on the 20% of the people who will generate 80% of your revenue right now, that is known as the Pareto principle. And when you focus 80, 90% of your energy on finding those 20% of the buyers who are either ready right now or will be ready in the next week too weeks, four weeks, six weeks, eight weeks, depending on the length of your sales cycle, you will start to skyrocket your income. Now the other 80% of the people that are just tire kickers, what you want to do with those people is put them into some sort of an automated system where you can stay in touch with them, educate them, and try to move them from the third bucket into the second bucket and from the second bucket into the first bucket. However, those people will likely take way, way more time than you want to invest in them, they will take way longer, you know, to go from being a suspect to a prospect to a customer. So invest all of your time on the 3% and the 17%. And what that will do for you is get you laser focused on the highest quality, highest converting customers there are. And that will help you make more money, more profits, add more value to your business. Right now, if you like this type of thinking, if you like this type of content, then what I'd love you to do is just sign up for my YouTube channel. Every week, I'll give you a little tidbit that'll help you drive more revenues and profits in your business.