Over the years I've seen a lot of posts and talk about the 80/20 law also known as Pareto's principal and of course the classic, "stay in your 20%" but there's ANOTHER law that I've been paying close attention to over the last 20 years and I call it the 20% Rule. It applies of course to Real Estate but quite honestly any small business or sales organization. Here's how it works...
The 20% Rule relates to one day of relaxing, slacking, taking it easy, going through the motions or literally not showing up for just ONE day of your lead generation (prospecting) appointment per week.
Mailing it in, showing up late, not giving it your all on just one day a week will affect your income by 20%!
Think about it...most of us work 5 (some 6) days a week and since many of you have bought into my belief (and others I am sure) that "the day I give up on my lead gen is the day I give up on my income 90 days from now" then you must buy into the idea that being off your "game" even just one day a week is affecting your income by as much as 20%!
So if you're currently making 100k annually then you're potentially losing out on 20k, 200k and you're losing out on 40k, 300k and you're losing out on 60k...and so on. What could you do with an extra 20k a year? I am sure if you gave it some thought you could come up with a few ideas.
Think about the 20% Rule next time you decide it's okay to be a few minutes late or schedule that closing during your prospecting hours. Every time you do, you're basically saying buh-bye to a closing 90 days from now. Do it at least once a week and say buh-bye to twenty percent of your income.