Rich Schefren is an entrepreneur with an education in accountancy and strategic planning. He has a proven track record of business development and marketing excellence.
Schefren is a graduate from Case Western Reserve University and seemed set on a career in strategic planning with the prestigious Arthur Anderson firm, from whom he had won college scholarships. It was an opportunity that many would have appreciated but in 1994 he left Arthur Anderson to rescue the ailing family clothing business.
Early Business Success
The family store, located in Broadway in lower Manhattan, was ill-located and having difficulty competing with the larger stores located in malls. The young Schefren, perhaps as a result of working for Arthur Anderson, and maybe because of his own intuition, realized that the family firm needed something radically different if it was to survive.
Schefren’s strategy was to make the store itself a fashionable destination. Using his knowledge of techno music, and what techno music club goers wanted, he remodelled the store and sold techno clothing and merchandise at discount prices.
At one time his store was the only place where you would find: Diesel Jeans, Vintage Levis, Mecca, Sabotage, W & L.T, LEnegia, Mookes & Fray, Gene Meyare, and Kikwear under one roof.
The plan paid off. The store attracted patrons such as Madonna, Urma Thurman, Prince, Bon Jovi, and Eric Clapton. Revenue increased from $1.5 million dollars to $6.5 million in three years.
Schefren attributes part of this success as the result of being able to recruit the right people, many of whom have gone on to highly paid positions with companies such as Diesel, Levi’s, Prada and Dolce & Gabanna.
Success came at a price, however, the days were long and Schefren realised that the ‘rag trade’ wasn’t really what he wanted to do for the rest of his life. After rescuing the store from closure, and seeing it well into the black, Shefren returned to college to finish his degree before trying his hand as a hypnotherapist.
“Thank-you for everything you have done for me
(and my team at Yahoo!) …”
- Darryl Peddle, Yahoo! Inc.
“The impact and progress that has been made is nothing short of spectacular. I have seen my income more than double in the past year. More importantly, I’ve achieved 13 consecutive ‘record breaking months’ in my position at Yahoo!
“I have learned a whole new approach to business building that has given me the power to always be at my best and to leverage my core strengths for many years to come. For that, I can’t thank you enough.”
Dynamic Changes Hypnosis Centers
His hypnosis centers, jointly founded with his wife Deb followed the same path as the family clothing store. Using marketing strategies devised by the likes of Jay Abraham, and John Carlton. Schefren rapidly built a reputation, not as a hypnotist, but as someone able to market hypnosis. His chain of hypnosis centers was able to spend $ 3 million a year on advertising, which combined with some savvy marketing methods created a $7 million turnover in four years. Later he sold his marketing skills to other hypnosis vendors.
It was around this time that Schefren first entered into the arena of Internet marketing. He found the business exciting and rapidly set up a number of joint ventures with established names in the field.
Schefren brought something new to the Internet marketing business, which had hitherto been compared to the ‘old wild west.’ Where others had learned by experimentation tricks and fancy ways to apply direct marketing tactics to the on-line world, few knew how to run their businesses and enjoy quality time at home with their families. This was somewhat ironic since many of these Internet marketers were working out of bedroom, home-offices!
Using the skills he had developed as an entrepreneur; as someone trained in therapy; and with the valuable experience from Arthur Anderson, Shefren was able to rapidly help Internet marketers become better organized, more profitable, and have more leisure time.
In 2004 Schefren formalized his consulting business by launching Strategic Profits, whose target market is currently Internet marketers.
Working as both an Internet marketer, and a consultant to Internet marketers has enabled Rich Schefren to identify all of the problems those who wish to market on-line face. Importantly he discovered that it may not be the marketing itself that causes Internet businesses to fail, but rather that people start out believing that they must create everything themselves.
It’s beyond doubt that Rich Schefren is a highly intelligent and skilled entrepreneur. He has approximately ten full time staff working for him in Strategic Profits, and no doubt is outsourcing some more of the work that drives his machine.
He has set out to cultivate experts from both direct response and also Internet marketing. These include: Jay Abraham, Dan Kennedy, John Carlton, Alex Mandossian, Stephen Pierce, and Yanik Silver
There is much that family business owners, and aspiring business owners may learn from Rich Schefren’s example, and wisdom. He delivers a lot of useful information, and much of it is both free and invaluable.