[quote style=”boxed”]I attempt to practice what I preach, to focus on the top 20% of the inputs and not the rest. [/quote]
Dr. Elizabeth Rush (Betsy) Kruger – speaker, coach and author – is the founder of Strategic Power, an A+ rated company with the Better Business Bureau. She has over fifteen years of experience in leading marketing research projects for corporate clients and has major clients in many consumer industries.
Starting with The University of Chicago, in 1978, Betsy has led marketing research projects for many corporations and is a sought after speaker and business coach. Betsy Kruger also taught marketing and research for over ten years in business schools like the Thunderbird School of Global Management. Her research used long-term, worldwide data to confirm Maslow’s Hierarchy of Needs and Ricardo’s Theory of Comparative Advantage.
Some of Betsy’s clients include: Archer Daniels Midland (ADM), Amgen, AstraZeneca, Aurora Health Care, Baxter, Bombardier, Bristol-Myers Squibb, CVS Caremark, Dow, ExxonMobil, Harley-Davidson, Sears, Texaco, Volusia County, And The University of Chicago Archer Daniels Midland (ADM), Amgen, AstraZeneca, Aurora Health Care, Baxter, Bombardier, Bristol-Myers Squibb, CVS Caremark, Dow, ExxonMobil, Harley-Davidson, Sears, Texaco, Volusia County, and The University of Chicago
In 2011, Business Expert Press published her first book, Top Market Strategy: Applying the 80/20 Rule. Professors worldwide are adopting Top Market Strategy to enrich their graduate marketing courses. Marketing experts praise this college supplement. Entrepreneurs eagerly await her upcoming book, Aesop’s Rules: Timeless Marketing Strategies for Entrepreneurs. Betsy Kruger has coached thousands of entrepreneurs to spark their profits.
What are you working on right now?
I’m working on obtaining partners and sponsors for workshops and webinars for entrepreneurs, professionals, and business owners. They learn to create action plans that empower their business with the 80/20 rule.
Where did the idea for Strategic Power come from?
Vilfredo Pareto discovered a universal law of results over a century ago. He confirmed that the top 20% of any large random sample of inputs will generate 80% of the results. Richard Koch wrote The 80/20 Principle: The Secret of Achieving More with Less and several other best-selling books that confirm the practical utility of the 80/20 rule. These include Living the 80/20 Way: Work Less, Worry Less, Succeed More, Enjoy More; and The 80/20 Individual: How to build on the 20% of What You Do Best.
How do you make money?
I taught thousands of marketing students to start up a profitable business. After retiring from Bethune-Cookman University as a professor of business administration, I gave many pro bono speeches. Soon I will be earning money as a professional speaker and business coach.
What does your typical day look like?
Now that my website is completed, my days will be filled with soliciting partners and sponsors for my speeches and responding to requests for interviews.
How do you bring ideas to life?
My speeches and upcoming book are inspired by Aesop’s Fables. These delightful tales contain timeless marketing strategies for applying the 80/20 rule to business. The situations and dialog among the animals are funny, yet get the point across.
What’s one trend that really excites you?
I’m excited that people are turning away from being envious of rich people and are looking to bootstrap their own success.
What was the worst job you ever had and what did you learn from it?
My worst job was at Fact Flow Research in Arlington, IL. The owner of the company was jealous of my abilities and dedication. She fired me a few days after my father died. I should have learned from this, but I still under promise and over deliver.
If you were to start again, what would you do differently?
I had the money and motivation to earn a M.B.A. from Northwestern University, but deferred because my current husband did not want me be superior to him. I should have divorced him when I realized this.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I attempt to practice what I preach, to focus on the top 20% of the inputs and not the rest. I am targeting a few potential sponsors and partners that have entrepreneurs as their clients. I hired a professional to design my website. I delegate my weaknesses to professionals to handle and specialize in my strengths – writing, speaking, and coaching on the 80/20 rule.
What is one failure you had as an entrepreneur, and how did you overcome it?
In 1987 I developed perceptual mapping software called MapWise and sold it in over 40 countries. My mistake was shipping product before I received payment. Many foreign customers refused to pay their invoice. As a solo woman entrepreneur, I was not able to collect on their debt to me.
What is one business idea that you’re willing to give away to our readers?
I encourage entrepreneurs to call me directly and I will provide 30 minutes of free coaching on their area of expertise. I love helping others succeed in their business and am will customize my advice to their particular situation.
If you could change one thing in the world, what would it be and how would you go about it?
My mission is to spark profits, one business at a time. The 80/20 rule multiplies profits when a business specializes in its strengths, targets its most profitable customers, and hires the best people for the job. I am eager to convey my message through my writing, speaking, and coaching of entrepreneurs, professionals, and small business owners.
Tell us something about you that very few people know?
Few people know that when I was a child I rode down a hill and turned at the bottom while standing on the seat of my bike with my hands outstretched. At 12 I got up on one ski the second time I went water skiing. At 45, I broke won a silver award on a NASTAR slalom run on the second day I wore ski boots.
What are your three favorite online tools or resources and what do you love about them?
My favorite resource is learning communication and leadership skills through Toastmasters and using two monitors.
What is the one book that you recommend our community should read and why?
Breakthrough Branding by Catherine Kaputa
Three people we should follow on Twitter and why?
Herman Cain, Bill O’Riley, and Ben Carson
When was the last time you laughed out loud? What caused it?
A few days ago I laughed out loud when my grandson dressed up in his mother’s clothes.
Who is your hero, and why?
My heroine is Margaret Thatcher.
Why are you eager to teach entrepreneurs about the 80/20 rule?
I am driven to bring prosperity to the world, one business at a time. So many people are brain washed that it is not fair that some people are rich and others are poor. No one makes others rich by being poor or by redistributing wealth. Instead, people can help others by doing what they do best and trading their skills with people who need them. When a business specializes in its strengths and serves a niche marketing, the business increases its wealth and serves others. Mathematics, data, and a century of successful applications have confirmed that the 80/20 rule is a universal law of results. According to the 80/20 rule, if you specialize in your strengths and compensate for the weaknesses of others, both your business and others multiply their wealth five-fold. In fact, the top 20% of the inputs are 16 times more productive than the bottom 805% of the inputs. My first book, Top Market Strategy: Applying the 8 0/20 Rule supplements graduate marketing courses around the world.
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Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.