Key Lessons For Internet Business Owners Striving For More Money, More Freedom and Less Work

By Yaro Starak
6 Comments

I’ve compiled a bunch of notes from the Rich Schefren conference and also the videos he’s been releasing in the lead-up to the launch of his next program. You can get the free videos here – Strategic Profits Videos.

I was pondering over how to release them to you and I’ve decided to extract the key lessons and present them to you in this series.

The order may not make complete sense since I’m combining my notes from different sources and skipping a lot of points in between. What I have provided are some really great lessons and tips on how to successfully build and manage an Internet business, thanks to the mind of Rich Schefren and filtered by Yaro…

Multiple uses for the same content

Rich was up on stage doing his presentation explaining that he had “stolen” away an employee from (Donald) Trump University to act as his product developer. This person’s role is to take all of Rich’s materials, his audio, stage presentation and written words and come up with content packages to sell (with some help – there is more than one person on the product development team).

The idea here is to make use of every thing you produce in multiple ways to generate the most cashflow and front-end sales mechanisms. In Rich’s case he has a ton of materials to play with, but even if you are only getting started it’s worth remembering that you can combine any podcasts or blog articles you produce and make them into products. The same goes for reports or ebooks, whitepapers, interviews and presentations. Everything is marketable if there is someone out there who sees the value.

Journal writing

Rich keeps a journal every day that he uses to reflect on his life, the decisions he makes and the outcomes he generates. He finds by looking over periods of his life, both successful and not so successful, he can determine, with the benefit of hindsight, experience and education, what he was doing well and why. This sort of self reflection can be very valuable to ascertain why you might be failing to gain momentum in your business today.

Outsourcing

Here is a sample of the significant roles Rich currently has outsourced/employees managing that he no longer needs to do himself.

Imagine having someone else filter and package the information you produce into products, having someone else set up the websites to sell it and an affiliate manager to bring in all the customers for you! That would certainly make my life a lot easier.

Focus on intangibles/education

I’ve got a full article coming out about this, but for the moment I’ll pass on Rich’s comments in brief. He said you should focus on the intangibles – like education – and let the tangible outcomes evolve as a result. What this means is if you have the mental tools and awareness then the right actions will follow.

Law of attraction seems to fit right in here. If you don’t know what you want to do, or have a grasp of how it’s done, how can you get to where you are going?

Change is okay

When I joined Rich’s program his plans were to build a system and then bring on 30 coaches to teach the system to clients. That changed while he was teaching his program to us and he decided instead to create a fully automated online system that will disseminate the right information to clients based on their unique problems. It’s still a work in progress, but you can see Rich wasn’t afraid of making significant changes to his grand plans as he was going.

What I find particularly interesting is the way Rich goes into action before he really has anything sorted out, generates cash-flow by making a lot of sales, then delivering the content on the fly and re-structures his business as he goes. It’s the ultimate in action-orientated business building.

Attention is the new currency

Not much needs explaining here. In order to excel online you need attention. In an information overloaded, attention deficit world, if you can capture the minds of people for just a short period of time you have the most crucial resource necessary to build a business. Attention comes when you do things differently, solve problems in unique manner and over-deliver benefits – often all for free.

Check email at night

How’s this for a very simple practical lesson: Check and respond to your emails at night after kicking some serious goals during the day.

Mike Filsaime recommended this one and his right hand man, Tom Beal, does it too. Really it’s a no-brainer and if email is not something that is super time sensitive for your business, put it on hold until the end of your working day. Emails tend to break into protracted back-and-forward conversations and very rarely are productive – they are usually reactive and don’t help your business move forward.

Dealing with information overload

Here’s one for any of you feeling the stress and agitation from having too much information and too many things to do with what you have learnt.

Focus only on what the task at hand requires. If you need to learn how to set up an autoresponder, only focus on consuming information on solving this problem. Complete the current task and then move on to the next. There is no need to know about affiliate marketing when you should be focusing on product creation. Why study pay per click when you haven’t built a website yet.

The education process has to be sequential, and parallels the growth of your business. Learn – implement – learn – implement, NOT learn learn learn (stress out) implement, stutter…nervous breakdown…learn some more…

The source of momentum

In order to build a business you need three things:

  1. The right target market
  2. The right offer
  3. The right marketing

Assuming you land these three, your business should move quickly from start-up to momentum to business building and then rapid growth stages.

Compelling offer

A lot of stress is placed on presenting a compelling offer to the market. If you haven’t tested offers then you haven’t really tested. It’s not the product that makes a business, it’s the offer presented to solve a very “painful” problem. Once you find the golden combination of a hungry market, a believable promise (offer) and proof that you can and have delivered on that offer, you have the foundation for a very successful business.

The elements of an irresistible offer

Here’s how you can construct a compelling offer…

Perception is key

If you think you have a quality issue, you don’t, you have a perception issue. What someone feels and thinks about what you offer is a perception and it’s the perception that you need to change. If people perceive you represent quality then it doesn’t matter if you do or do not. Of course if your product falls apart after a day you won’t maintain a good perception either, so you need some level of congruency between perception and reality – it just doesn’t have to be as close you think it does.

What is marketing?

Rich spends time in his videos and at his Florida presentation explaining what marketing actually is. The crust of the argument is that marketing is not selling.

Marketing is to convince the market to desire what you sell. Once you do that, selling becomes inconsequential.

Persuasion Techniques

Rich broke down a list of possible techniques you can use to persuade prospects. For the sake of brevity I’ll just list some of the names in dot point form here -

More on the importance of the Offer

Rich listed several key components of a successful business in order of importance, starting at number one with the ‘list’, followed by the ‘offer’ at number two. He was adamant that ‘copy’ is not as important as the offer.

Rich continues to discuss the offer in greater depth, which I will explain in the next part of this series.

Stay tuned!

Yaro Starak
Rich Schefren Filter

PS. If you like what you read here, I’m simply filtering what I’ve learnt from Rich and what I know from experience running a business online. If you want more info like this, read through my article archives and watch the videos Rich provides for free and consider joining his coaching program too, which is due for release later in the week.

About Yaro Starak

Yaro Starak is the author of the Blog Profits Blueprint, a report you can download instantly to learn how to make $10,000 a month, from only blogging 2 hours per day. You can find Yaro on Facebook, Twitter and .

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6 Comments

  • Nice post again Yaro, keep up the good work.

  • Hey Yaro,
    I just read your article at SBM – I completely agree with the foreign currency. As a full time stock market trader, and trying to break into the online cyber business, I love making US currency, while living in Canada.

    The exchange rate is just killer!

    Keep up the good work, and I was also browsing your articles about Google Adwords – I am about to launch my first adword campaign for a stock market information product, and looking to see how to get the most effective strategy to get the best “bang for the buck!”

    I saw your review of Perry Marshall – is his stuff really that good? That may be a little easy for you to answer since you (cyber) love the guy!

    If you could, could you just email me, because I would like to ask you a few more questions about adwords (off the main message board).

    Talk to you soon Yaro

  • I usually check my email many times throughout the day. Maybe, it would be better to wait until night. Hmm…

    Thanks for all those tips about web business!

  • Kunal – Perry’s book on AdWords is must reading only because of the challenge of using AdWords. If it was a few years ago it wouldn’t have mattered so much because not as many people used AdWords and things such as the Google slap didn’t exist yet. You could get cheap traffic easily.

    That’s not the case anymore and if you still want cheap traffic then it takes education. However if you log into AdWords and have no problems generating 5-10c clicks that convert well then maybe you don’t need a book to help you.

  • G’day Yaro,

    Rich is THE MAN…. there is no doubting that. I have been following him ever since the he released ‘The Final Chapter’

    I for one will be taking on board everything that man wants to share. I wish I was in a position join his exclusive membership….. but we’ll work up to it the ‘proper’ way.

    EXCELLENT synopsis BTW. You broke it down beautifully.

    Regards,
    Gary

  • simon

    Great info, I watched the vids after and it is seriously good stuff. Thanks for the text preview, it was 100% on the money. Regarding outsourcing I have some advice based on experience. Choose someone from rentacoder.com rated 9.5+ with at least 20 jobs and write VERY DETAILED AND CLEAR job description for them. Don’t assume anything. Do small jobs with short deadlines. It’s working for me now, but I lost thousands on crap work my first few months at it. Avoid the service called TRAFFIC ASSISTANTS (trafficassistants.com) run by Harris Fellman, Richard East and Nick Dunnin. They have not performed the hours due that were prepaid for many of their clients. Those of us who requested refunds are ignored. Good luck to all internet marketers out there trying to get that web 2.0 social network traffic flowing!

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