FBC – 476 – This Principle Will Put Money In Your Pocket

This Principle Will Put Money In Your Pocket.

Hey guys,

New tips and hacks for you in this new episode: This Principle Will Put Money In Your Pocket

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How can you put more money in your pocket quick and easy?

Sounds like a clickbait right? Well think again, because it's not.

It turns out that there is a quick and easy way to do it. And when I say easy, I really mean 100 times easier than what you are already doing.

What you are doing right now is hard and time-consuming.

In this episode I am going to detail the strategy that I used to decrease my spendings by 15 and to skyrocket my profitability

All the answers are in today's episode

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Here is one of my favorite quotes:

“Discipline is the bridge between goals and accomplishment.”
-Jim Rohn

I wanted to remind you of something and this is exactly what I am doing right now. And it's a concept that I already explained well at the very beginning of my podcast, I guess. And then I repeated that a few times.

OK, so the rule in question, something I want you guys to understand is the Perito Principle. So, Perito was an Italian mathematician. I think it was like the 14th century or something. And he wrote a piece on division of wealth.

And he realized 80 percent of the land in in like the Eataly, like Rome at the time, was owned by 20 percent of the people. And then he started looking into this rule and then he realized that this rule actually applies to pretty much everything.

So it will apply to your friends, will apply to your business, your money, your problems, your stuff like that.

So basically, it says that 20 percent of what whatever it is responsible for 80 percent of the outcome. OK, so, for example, if you have to deal with clients 80 percent of your problems will come from 20 percent of your clients.

I mean, everybody has those clients were like, oh, man, Jesus Christ. So, I mean, there are some clients. You never hear from them. They're very happy and stuff, but it's always the same ones who are always calling.

And so the rule applies. 80 percent of your money will come from 20 percent of the actions that you that you take. You will spend 80 percent of your time with 20 percent of your friends. You may have a bunch of friends, but there are some friends that you see more often. OK, so, yeah, you get the deal.

This Principle Will Put Money In Your Pocket

I'm not going to do all the possible scenarios, but basically to get the results, you just need to focus on those 20 percent. OK, so let's say you're trying to do something, I don't know, lose weight or something. You may do a bunch of different things, but there is this one or two things that you will do that will actually make the biggest difference, which are the needle movers.

OK, so your job is to identify those 20 percent. So talk about your income. OK, so 20 percent of your

Tasks are going to generate 80 percent of your money.

Not all tasks that you have in your business are created equal. There are some tasks actually that have way more impact than others. OK, so once you have identified those

So now you have a choice. And this is because the rule doesn't necessarily stop there, right there. There are two different things I want to talk to you about.

So first one is you have a choice. Now you have 80 percent of your of your kind of like money and you're working, let's say, at a five, six times less. And in order to get that additional 20 percent, you may have to work super, super, super hard and do all these other things that actually don't move the needle that much.

And I don't know if there is a good choice, if there is a bad choice. But don’t you want to spend all this time doing all these, like, small, little tasks that will add up?

So if you ask me, I mean, me, I'm the sort of guy where I would like to go to. Something that runs without too much effort, you know, well, too much effort like operational involvement every single day, right.

So my main thing would be once I found those 20 percent, I'm going to do those 20 percent and then the rest. The hell with it. Because, you know, I'm at the stage where I'm sorry, my lifestyle matters way more to me than the money.

And if in order to get that 20 percent, I need to work like twenty four, seven or something, it's not worth it. OK, so it's up to you then once you have identified that. OK, which way you want to go. Right. Do you want to keep pursuing the money?

It seems like we will focus on the wrong things that actually don't bring anything to the business. I find the things that actually bring me 80 percent and I get rid of the rest. So that means I have more time to now focus on what really matters. So from that 80 percent, I will I will very quickly go to maybe 120 percent, because now that's the only thing I have to do.

And that's the needle mover. OK, so that's that would be my take. Then afterwards, I mean, you guys, you can do what you want, right.