Mortgage Marketing Tips: #16
How To Use The 80/20 Principle To Skyrocket Your Sales And Profits` PART 4       Guest Article By Reed Hoisington

80/20 Principle #5 - Employees, Vendors, Joint Venture Partners

By now, you should know that 80% of your problems and headaches will come from 20% of your employees, vendors, and joint venture partners. I`m a big believer in quality of life, and enjoying the process of running and growing a business.

Most business people will tolerate almost anything for the mighty dollar...

Not Me!

I like to be with my family, and enjoy my working relationships with employees, vendors, and joint venture partners. The minute they become more of a hassle than they`re worth, I`m a big believer in terminating the relationship and replacing it with a better one. Life is way too short to deal with someone who gives you an upset stomach every time you talk to them.

My recommendation: Get rid of the relationships in your life that are causing 80% of the aggravation - you`ll feel a lot happier!

80/20 Principle #6 - Expenses

I went back and analyzed where I`m spending most of the money in my business to determine how I could reduce my overhead.

Interestingly enough, I discovered we were spending about 80% of our expenses in three categories:

1. Printing
2. Postage
3. Advertising

So, how am I using this information?

Since I can`t reduce my advertising costs (instead, they tend to go up every year!), I am focusing my efforts on getting more bang for the buck. Ad space costs me the same each month whether I get no leads or 2,000 leads. So, I`ve decided to create 12 new ads to test each month of the year. This way, my ad copy never gets `worn out,` and my lead counts should go up instead of down.

To reduce my postage and printing expenses, I plan to collect e-mail addresses from all of my members that have one. This way, I can start sending newsletters, FREE reports, updates, etc., electronically without incurring any postage or printing costs. Here`s my suggestion...

Analyze which expenses account for 80% of your spending. Then, come up with creative ways to replace or reduce your expenses.

80/20 Principle #7 - Leisure Activities

If you haven`t already figured this out...

It`s Impossible To Be Highly Productive Without Taking Quality Time Off!

That`s why it`s important to analyze which 20% of your leisure activities produce 80% of your enjoyment.

The problem was that I was only spending about 20% of my leisure time on these activities. Over the past while, I have focused on spending more and more of my leisure time doing high enjoyment activities. I`m not quite at 80%, but I`m getting there.

My final recommendation:

Find out what you enjoy doing most, and spend more of your FREE time doing it.


For information about Reed Hoisington's marketing methods see: Reed's High Profit Mortgage Marketing System


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