I thought I would take this “first post of the year” opportunity to start things off with a bang …….. sorta. While we all were quietly spending time with our family over the Christmas Holidays’, Frank Kern was busy plotting to take over the Inter-Web!
Awakened the first of the year by a quite sentential within my E-Mail Damon, I dutifully opened, read, and proceeded to follow the yellow brick link back to Frank Kern’s latest video.
Frank’s Video opens with him seated in the Oval Office of the Internet. It is anyone’s guess how he was able to obtain the keys of such a prestigious Office. I was soon to learn that Frank was about to give the annual “State Of The Internet Address”.
He starts by reviewing the past year of goals, dreams and economic mishaps. Stating that his position on the economy is that it is “Elective” ( Yeah, I elect not to get caught in the gears of the machine ). He’s not really flippant about it, but at the same time “Elective” is hardly the word for the present state of the world financial condition.
He goes on to state that money has not left us, it has just been transferred for “Group A” to “Group B” ( I think what you mean there Frank, is that the money has gone from the States to the Chinese, which equates to us being on the short end of the stick ). So much for the state of the Economy.
Frank’s approach for the year is that anyone involved in Internet Marketing should be focused on building quality leads as a business model to work from rather than just launching product after product through affiliates or like he has become known for, Joint Partnerships.
He states that measurable goals are very important ( tell me, I was 18 months before I could even see through the smoke and mirrors of the stats). His personal philosophy is to sell to “People who got Money” It would seem that most Internet Marketeers focus on selling at a low, low, low price to “people who ain’t got no money” You have to sell to people who got money! Only problem with that is that’s my market; “people who ain’t got no money that want to make money Blogging!” Anyway, if they got money, they ain’t going to be buying from me. Hey …. maybe I’m on to something here!
Frank’s philosophy is “What can we sell to people with money, at a premium price that will be of greater value to them than the money they payed us”. OK, I’ll buy that. And it certainly calls for some thought and study.
Frank calls on the 80 / 20 rule or what he calls Occam’s razor (sic) that states that 80 percent of the people control 20 percent of the wealth. Yeah … well ……. we get the point Frank. However, Occam’s razor is not about the 80 / 20 rule. Occam’s razor is a principle which generally recommends selecting the competing hypothesis that makes the fewest new assumptions, when the hypotheses are equal in other respects. For instance, they must both sufficiently explain available data in the first place. The principle is often incorrectly summarized as “the simplest explanation is more likely the correct one”. This summary is misleading, however, since the principle is actually focused on shifting the burden of proof in discussions. That is, the Razor is a principle that suggests we should tend towards simpler theories (see justifications section below) until we can trade some simplicity for increased explanatory power. Contrary to the popular summary, the simplest available theory is often a less accurate explanation. Philosophers also add that the exact meaning of “simplest” can be nuanced in the first place.
OK ….. check out the big brain on Jeffrey!!! I “ain’t” through yet! The 80 / 20 rule that Frank makes mention of above is known as “Pareto’s Principle”. In 1906, Italian economist Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country, observing that twenty percent of the people owned eighty percent of the wealth. In the late 1940s, Dr. Joseph M. Juran inaccurately attributed the 80/20 Rule to Pareto, calling it Pareto’s Principle. While it may be misnamed, Pareto’s Principle or Pareto’s Law as it is sometimes called, can be a very effective tool to help you manage effectively. The 80/20 Rule means that in anything a few (20 percent) are vital and many(80 percent) are trivial. In Pareto’s case it meant 20 percent of the people owned 80 percent of the wealth. It has also been identified that 20 percent of the defects cause 80 percent of the problems. Project Managers know that 20 percent of the work (the first 10 percent and the last 10 percent) consume 80 percent of your time and resources. You can apply the 80/20 Rule to almost anything, from the science of management to the physical world.
You know 20 percent of your stock takes up 80 percent of your warehouse space and that 80 percent of your stock comes from 20 percent of your suppliers. Also 80 percent of your sales will come from 20 percent of your sales staff. 20 percent of your staff will cause 80 percent of your problems, but another 20 percent of your staff will provide 80 percent of your production. It works both ways. Hey ………. I’m just sayin’
OK …….. so much for “Frank For President”!!! ( Frank by his own admission states that “he just writes Ads”) Obviously does it pretty well don’t you think?
Frank’s take on all this is that you should focus on the 20%. A good example of this is the people who fly privately. They could take a commercial flight but they choose to go privately, both flights wind-up in the same place. He’s right about one thing, people will pay premium prices in every market.
He also suggests that you not sell them a ton of stuff. Make it straight forward. Show them what to do and how to do it as quickly as possible there-by moving them to action quicker. There-in lay the magic of his video!
Lastly he makes mention that you will capture more leads with honey then ……. well …… I’m waxing philosophically here, but by using hope and love you will attract more customers. ( Sweet of you to mention it Frank, but I’m afraid it’s going to take more than that to capture quality leads. )
I really like Frank, he’s got a very affable style about him. And I don’t think anyone will argue that he is the King of Internet Marketing or at least one of them. But as far as being President, ….. well “Let me hollar at ya” Frank. I’m not really interested in “Farm Boy Makes It To Beverly Hills“. If it’s just the same to you Frank, I’m moving to “Farmville“.