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ERIC SIUa bus stop, you’ll eventually catcha bus, but if you go from bus stopto bus stop, you may never catchone. And this is about a win. I thinkthere’s too much short-termism,and it causes people to have aschizophrenic approach wherethey’re hopping from thing to thingbecause oftentimes they can’t takethe pain associated with the time ittakes to focus long term.You were also a serious poker player.What did you learn from that game?Poker teaches you a lot of pain. Youcan bring your A game for three, six,or twelve months, and the variantswill still catch up to you and you’lllong-term games with long-termlose for all twelve months. It doesn’tpeople, especially in the internetmatter how good you are.marketing world. People are too often8 / BUSINESS IN ACTIONfocused on short-term profits. ButSo poker really humbles you, and itif you look at the best investors inteaches you to become unemotionalthe world, they have such long-termwhen the pain comes. For example,outlooks. You hear Charlie Mungerif I get turned down, I can get angrytalk about deferred gratification. Theabout it or say, “That’s great; givelonger you can wait, the better. Theme more.” You turn that rejectionproblem I see, especially in the worldinto fuel, and it becomes strengthof marketing, is people are jumpinginstead of feeling down aboutfrom project to project and profit toyourself. Part of Leveling Up is aboutprofit. They’re not thinking about howreframing how things are. Because,you build a long-term culture andat the end of the day, people don’tteam and how to serve the customerslike to talk about this much, butinstead of being self-focused. Asthose who are super successful haveHoward Marks says, if you stay ata different type of mindset.businessinaction.com / 9

Why is the book called Leveling Up?just stole whatever they were doingand made it my own strategy. IThat was intentional. It’s calledthen swept everyone else and wonLeveling Up (not Level Up) becausethe championship. At that age, Iyou’re constantly trying to getrealized that maybe I should juststronger. Level up is just one level,copy people. So I’m trying to getbut leveling up is a continualpeople to reframe and understandprocess. It doesn’t have to be fast,that it’s OK to borrow from andeither; it depends on how far youbuild on the shoulders of titans.want to take it.Which habits do you swear by?Each chapter of your book relatesa different video-game concept toI love repetition, which is all aboutbusiness. Do you have any favorites?building great habits. I took thisconcept from Stanford professor BJOne of the key chapters is aboutFogg. He talks about tiny habits. Forthievery. I love that chapter becauseexample, if you don’t floss, maybe youthere’s cognitive dissonance tiedstart by flossing one tooth a day. Ifto it—people like to think they’reyou start running, maybe you just putoriginal and don’t want to believeyour running shoes on once a day,they’re copiers. We take that toand it’ll get you going on that habit.be very sacred. But Steve Jobssaid that everything in life is justWhat’s the biggest takeaway aa remix. Picasso said great artistsbusiness owner can get fromsteal. When people watch podcasts,Leveling Up?For more information,visit levelingup.com.they’re finding things they can applyto themselves. That’s why I thinkThere are a lot of habit-buildingthievery is great.books out there. So, again, even mytrack all you do if you want to keepbefore it became a thing, butcommunication—translatesbook is a reframing: building on topgoing. It’s a journal I fill out every day.business and marketing are whatamazingly to the real world, just likeI’m obsessed with and the gamessports. My goal is to help the worldI’ll share a personal example aboutof other habit books. This one justit. When I was twelve years old, Ihappens to be tied to people who haveYou run a business and haveI’m playing right now. Around threelevel up through marketing, and myentered a gaming championship.played at least one game in their life.two podcasts. Why add a book tobillion people worldwide play videomessage is that gaming can createI got destroyed in the prelimsThe fifteen power-ups in the book arethe mix?games, yet there’s a stigma tiedleaders. After all, life is a game youbecause I had no strategy. But Ijust the beginning. There are so manyto it. People need to understandplay every day; it’s just a lot moregot lucky with my timing becauseother habits to build out in the world,You write a book when you have athat a lot of what you learn infun and productive to look at itI got to watch someone else play. Iso Leveling Up includes a journal tomessage to deliver. I did e-sportsgaming—resilience, teamwork,that way. n10 / BUSINESS IN ACTIONbusinessinaction.com / 11

SALESDriveExponentialGrowth withthe 80/20PrincipleThis law of cause and effect canhelp you pinpoint your biggeststrengths and weaknesses.BY LAUREN KIM12 / BUSINESS IN ACTIONbusinessinaction.com / 13

ERRY MARSHALL, thepeople, only about 2,000 of thoseon your business. For example, workauthor of 80/20 Salesemails may be opened. It can alsoto improve the design and SEO ofand Marketing: Themean that 80 percent of your profitsyour most-visited web pages, orDefinitive Guide to Working Less andmay come from just 20 percent offind ways to reduce some of yourMaking More, is one of the world’syour products. In your business, ifcompany’s biggest expenditures.best-known and most successfulyou focus your efforts on the topbusiness consultants. However, it20 percent—whether it’s your bestwasn’t always that way. Originally ancustomers or products—you canengineer, he was unsuccessful in hissignificantly amplify your success.Pfirst sales job and was laid off. Butthen he picked up Richard Koch’sIn the real world, the 80/20 Principlebook The 80/20 Principle: The Secretdoesn’t always break out as rigidly—to Achieving More with Less, and ait might work out to be 60/40light bulb went off. Marshall wentpercent, 70/30, and so on. It simplyon to develop an exponentially moredictates that a minority of factorspowerful version of the principle, aor individuals will bring about thedynamic law of cause and effect thatbiggest results.can be used in business and in life80/20 is about whatyou ignore andwhat you eliminate,who you fire, whatcustomer youno longer want,and what productyou cancel.”Eliminate wasteApplying the 80/20 Principle canalso help you identify drains on yourcompany. In fact, Marshall says, thiscan be the hardest part. You mightdiscover, for instance, that eight ofyour ten salespeople combine tobring in only 20 percent of your salesor that the majority of a day’s tasksproduce the least results. Your job isto right these disparities and makeimprovements. “80/20 is about whatMarshall expanded thelosses, and find success.understanding of the 80/20 PrincipleHere’s how you can apply thewho you fire, what customer you noby realizing that it’s a never-ending80/20 Principle to drive results forlonger want, and what product youWhat is the 80/20 Principle?pattern. Within every 20 percent,your business.cancel,” he says. “It’s about sayingAlso called the Pareto Principle, thethere is another 20 percent. So if80/20 Principle is a phenomenon20 percent of your company’sFind the biggest levershard time saying no.” The goal is todiscovered more than one hundredcustomers are responsible for 80The first step is to identify the tophave less of what’s not working andyears ago by Italian economistpercent of your profits, 20 percent of20 percent, or the things in yourmore of what is, he explains. You’llVilfredo Pareto, who noticed thatthose clients, or 4 percent, accountcompany that make the biggestneed to bring those salespeople up80 percent of the wealth in Italyfor 64 percent of your profits. Youimpacts. For instance, pinpointto speed or let them go and perhapswas owned by 20 percent of thecan use the principle to determinewhich pages of your website drawdelegate your less important taskspopulation, just as the world’s wealthwhat’s causing the losses andthe most traffic, or rank yourto others so you can tackle the moretoday is concentrated among a smallproblems in your business too.company’s expenses to determineimportant ones.number of high-worth individuals—“There are tiny levers that swingthe few items that eat up most ofElon Musk, Jeff Bezos, Bill Gates,huge outcomes; tiny hinges thatyour budget. After you get started,Grow your businessswing big doors, and the job of anyyou can use the principle to delveThe 80/20 Principle can help youbusiness manager, any businessdeeper to find the 20 percent withinuncover not only your company’sstrategist, any salesperson, is to findthe 20 percent and find the movingtop weaknesses but also itswhere they are,” Marshall says.parts that have the largest influencestrengths, such as your most devotedand so on. The principle also showsthat 80 percent of your results willcome from 20 percent of your efforts.So, if you have an email list of 10,00014 / BUSINESS IN ACTIONPERRY MARSHALLPHOTOS COURTESY OF PERRY MARSHALLto augment your strengths, cut youryou ignore and what you eliminate,no first, and most of us have a verybusinessinaction.com / 15

If I have 1,000people a weekbuying 5 lattesat Starbucks, or 5,000, 20 percentof those peoplewant to spend fourtimes the money.”customers. These customers canbe your best “new” customers,Marshall says. He uses whathe calls the Espresso MachinePrinciple to explain why. “If I have1,000 people a week buying 5You need to identify which clientson an international flight or a20 percent of those people want towould be willing to purchase thatluxury suite at a big game. Everyspend four times the money,” hehigh-end, most expensive product,business, including yours, has astates. “And 20 percent of thoseor your company’s version of ansmall number of customers whopeople want to spend four timesespresso machine, and developwill buy everything it has to sell,the money, and so on and so forth.that espresso machine, he says.Marshall notes. “Think espressoIf you do the math, that meansThink of a high-quality productmachines,” he says. “Think aboutone person will spend 2,700 on ayou can offer that would bewhat could be super deluxe, servedyour version of a first-class seaton a silver platter.” ngleaming stainless-steel espressomachine.” Plus, that individual willcome back the next day and buyanother latte, he adds.16 / BUSINESS IN ACTIONPHOTOS COURTESY OF PERRY MARSHALLlattes at Starbucks, or 5,000,TakeActionUse the 80/20Principle to findsome of thebiggest levers inyour business.For more information, visit perrymarshall.combusinessinaction.com / 17

ENTREPRENEURPractice an Attitudeof GratitudeAdding gratitude to your business plan could bethe key to creating raving fans for your businessand putting more money in your pocket.BY KIM ANGELI18 / BUSINESS IN ACTIONbusinessinaction.com / 19

THERE ONCE WAS A SUCCESSFUL BUSINESS OWNER who had a healthypipeline of referrals of ideal clients, boundless cash flow, and endless joy in theirA relationships:flourishing business. This business owner was so grateful for these ideal clientreferrals, and their gratitude was overflowing. They could not wait to serve every client andprovide them with an amazing experience. This might sound like a fairy tale, but it’s realPeople who know exactly what you dolife—and this can be a reality for you and your business.and who your ideal client is. They wouldwalk through fire to refer you to thatWant to learn the key to attracting referralsincrease in customer retention has the sameand having your phone ring with idealeffect as decreasing costs by 10 percent. All ofclients? The secret is simple and time-this indirectly and directly affects the ROI oftested, but somewhere in the digital age ityour business and bottom line.client. Some may not even be clients.TakeActionB relationships:has gotten lost. Here I will share with youwhy gratitude matters in your businessWhere you spend your energy matters. Iand how it can help you thrive—not justlike to tell clients that Facebook likes don’tsurvive—in this busy six-second world.necessarily put Benjamins in your bankaccount. Through coaching businessGratitude is the keyowners, I’ve found that many of them tendIf you’re wondering what value gratitudeto look for new clients while ignoring theircan bring to your business, ask yourselfexisting clients who already trust them.these questions:They are chasing every shiny object, whiletheir best customer will bring them their1. Do you want to get quality referrals fromnext customer.your top clients that bring you joy whenyou serve them?Standing out in a noisy worldHow are you staying unforgettable with2. Do you want to spend less timeconverting referrals to new clients?past clients? Are you willing to put in thePeople who know what you do and wouldrefer you if it were easy. They will referCreate lists foryour A and Brelationships,and implementa twelve-monthgratitudestrategy forfollowing upwith them usingthese ideas.you over time if you stay top of mind, andsome may not be clients.C relationships:People who will only refer you if theSTEPONESTEPTWOwork and play the long game to set youropportunity falls into their laps, andthey might be willing to hand out yourbusiness card.Y (why) relationships:business up to survive? Follow the stepsAsk yourself, “Who is myIdentify your top relationshipsIf you answered yes to both, you’ll want tothat follow to start growing your businessideal client?” You mustin your business. Notice thatPeople who see no value in your serviceskeep reading.with gratitude.have a crystal-clear visionI didn’t say clients. You haveand are constantly asking you to showfor who your perfect clientrelationships in your businessyour value.is and who brings youthat might not even be payingthe most joy to work with.clients. Some of your raving fansThe goal is to celebrate your A and BMost business owners willare right in front of you, and theyrelationships consistently and devotesay everyone is their idealmight be an amazing referralthe majority of your time and effortclient, but this is a weaksource. Rank these relationshipstoward them, making your relationshipand diluted mindset.using the following criteria:list more valuable each year.Did you know that acquiring new customerscan cost six to seven times more thanretaining existing customers? The probabilityof selling to an existing customer is 60 to70 percent, compared to just 5 to 20 percentwhen selling to a new prospect. A 2 percent20 / BUSINESS IN ACTIONIt is not your customers’ job toremember you. It is your obligation andresponsibility to make sure they don’thave the chance to forget you.”– PATRICIA FRIPPbusinessinaction.com / 21

STEPTHREEWhat is your plan over the next twelve months tovalue with this magazine is priceless. Didyou know that 68 percent of clients will Send a seasonal card or anunexpected notestop using your business because theyfeel like you don’t care about them beyondEvery minute you delay, you are losingthe transaction? Think about how youthe opportunity to connect withare wowing your clients so that they don’treal human beings. Your customersforget about you.and relationships are craving yourstay top of mind and nurture your top relationships?attention, the majority of yourRemember, it is your job to stay top of mind, notcustomers want to refer you, and theytheir job to remember you. Have a written plan forconsistent follow-up—this will win every time overa random thank-you note or one-time fruit basket.Determine who is going to implement the planSTEPFIVEand what system you’ll use. All your touchpointswant to hear from you. They wantyour business to flourish. Take thetime to wow your clients beyond thetransaction, and implement gratitudein your marketing plan today to watchthroughout the year need to be mapped out so youBenjamin Franklin said, “People don’tcan have consistent results.plan to fail; they fail to plan.” Havingyour business grow. na twelve-month gratitude strategy inSTEPFOURplace can help ensure your strategygets implemented, even when you getbusy with business. Here are someideas to consider: Send a birthday card and small giftWho will be responsible for owning your gratitude(if this is legal in your business)strategy? If you won’t have the time to do it, delegatethis task to someone who does. A note of gratitudeKim Angeli is an out-of-the-box Send a “grateful for you” card in the mailthat’s never mailed has zero impact. Figure out whatyou can do to make sure you’re showing your topclients gratitude without having to think too muchthinker and unique entrepreneurwith a diverse background. Kim is Share a personally branded print/digital publicationabout it.known globally as the creator of TheGrateful Box , The Grateful Method,Grumpy to Grateful, and Nextdoor Make gratitude calls—it’s the cheapestBusiness Mastery Programs. As theFor example, I have been working with ReminderMediaand easiest way to reach out to clientsCEO and founder of Grateful Box,and sending out American Lifestyle magazine for over*For a script, emailshe is passionate about teachingthree years now. This has been a game changer to havekim@gratefulbox.com and I willbusiness owners how to transforma first-class publication mailed to my top relationships.email one to youtheir businesses using gratitude toCommunicating with my relationships and adding22 / BUSINESS IN ACTIONcreate raving fans.businessinaction.com / 23

MARKETINGGo Viral withThese VideoMarketingStrategiesWhen done right, video marketinghelps people see the human side ofyour business, growing your brandand increasing customer loyalty.BY RACHEL STEVENS24 / BUSINESS IN ACTIONbusinessinaction.com / 25

WHEN YOU THINK ABOUTyou can share so much in aeven using only your phone,content marketing, photos,video to attract customers.creativity, and industryemails, graphics, andexpertise, you couldblogs may come to mind. However,For Jimmy Mackin, the CEOgenerate increased interestyou might be overlooking theof real estate marketingin your business.most valuable tool of all—video.company Curaytor,The demand for video content isbusinesses’ future survivalTake the success of Dollarincreasing. According to HubSpot,will rely heavily on attractingShave Club, for example,54 percent of consumers say theyrather than chasing clientswhich grew from a smallwant to see more video content fromand customers. To attractcompany that published atheir favorite businesses.clients, he recommendsviral video to a billion-dollarproviding high-quality videobrand almost overnight.If you feel stuck at a plateau ofcontent that solves theirSmaller companies aren’t atunderwhelming results with yourproblems and eliminatesa disadvantage with videocontent marketing, you could reachtheir frustrations. This direct-production, and Dollarthe next level by implementing ato-consumer approach allowsShave Club exemplifiedvideo strategy. Video is a versatileyou to create an audience ofthis. It did two things welland effective marketing tool that canideal clients without havingto stand on its own withoutreinforce your existing rel

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