10 Things I’ve Learned From Building a Multi-Million Dollar Internet Business

Internet Business Guru Rich Schefren

It’s been a fascinating day here at Strategic Profits.

First, I started the day with filming a content video with my Founders Club Membership Director, Chuck Dolce. Basically, Chuck was interviewing me about why I have used free content like my reports to build my Internet business.

In this video, I revealed several strategies you can use in your own free content. We’ll be releasing this video next week, so be on the lookout for that.

Then I got on my Business Growth System (“BGS”) call. During the dispatch, I gave clients four of the 50 or so strategies that I use to write my free reports. That includes the exact strategy I used to make my seven free reports go viral.

If you’re a client, you can listen to the recording when it’s released next week.

But the most intriguing part of my day happened around 2:30 this afternoon. That’s when my Content Director, Kat burst into my back office. She pushed a document I had never seen before in my hands. The document was called…

“101 Brilliant Internet Business Insights from the
Incomparable Mind of Rich Schefren”

Flattering right? 🙂 (And before you ask: No, Kat wasn’t sucking up to me.)

She created this document for you, our readers. It’s a collection of Internet business ideas that members of my team have overheard me say in the past. Kat described these 101 insights as “a bunch of ah-ha moments.”

Actually, she called them: “Richisms.”

I have every intention of sharing this document. (Although I may ask her to change the title first. It’s not exactly modest, right?)

But for today’s post, I want to share just 10 of these 101 “Richisms” with you just to see what you think.

Keep in mind these came from my team, and they are in no particular order…

  1. Don’t ask: “How I can I make money fast?” Ask: “How can I quickly create value for some group of people that would be interested in paying for it?”

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  2. Your business is perfectly designed to achieve the results you are getting.

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  3. When building a business, ask yourself: “What is the least amount of effort and resources you need to get the results you desire?”

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  4. Procrastination is just a symptom of a bigger problem.

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  5. Change is a constant in Internet business. Some are small and barely noticeable. Other can shift the entire business landscape. But they all make previously successful marketing tools and tactics obsolete.

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  6. When faced with a massive project: Ask yourself two questions. “What does done look like?” and “What does doing it look like?”

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  7. A simple concept brilliantly executed is worth far more in real business than the most complex of theories or strategies that cannot be executed at all.

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  8. Life is not a marathon, it’s a series of sprints. If you want to succeed, you need to use up everything you got. Tap into what drives you and give 100% in everything you do. As an entrepreneur, you’re better off giving 100% for 1 or 2 hours than coasting for your entire day.

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  9. You must operate from a conscientious intention. If you’re not working from your own intention, you’ll be working from someone else’s.

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  10. At the end of the day ask, “What did I achieve today?” Most people if asked wouldn’t have an answer – they’d have to first THINK. Don’t think about what you achieved today, know what you achieved today.

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Again, Kat just put this document together today. I’ve never had a team member create anything like this, so I’d appreciate your feedback.

Tell me in the comments…

  1. Do you want to see the other 91 Internet business insights?
  2. Would you like me to expand on any of these? If so, which one’s would relate most to your Internet business?
  3. If I was going to change the title, what would you call this document?

Feel free to respond to any or all these questions. I welcome all feedback.

90 thoughts on “10 Things I’ve Learned From Building a Multi-Million Dollar Internet Business”

  1. Very interesting!
    It could be called simply Richisms –it was obvious to me immediately what was coming.. Or Repeat- worthy Richisms–Toasty, but not overly boasty

  2. Excellent.?Love?t??No need to change the title.  Yes, love to see other 91 insidhts.

    Item 10, it would nice if you could expand the comment.
    Always great to learn from Rich. It’s inspiring.


  3. Keep the title- Love it!
    OF COURSE I WANT TO SEE ALL 101! Are you kidding me Rich!
    Point 3 would make an excellent expanded report.
    Thanks Kat. You Rock.

  4. Hey Rich,

    1. 91 more would be welcomed with open arms, and greatly appreciated, as always
    2. #9 caught my attention and got me thinking.  Would love some more on that one.
    3. “10 Insights Of A Strategic Profit Pioneer”

    Thanks for all of the incredible information.  If there’s anything that we can do to help you, please let us know.

    – Joey G.

  5. Title: 101 Richisms. Plays on name Rich and also creating wealth. Grabs attentions as brain does double take to see it is not “racism”, but a new coined word with positive energy. Maybe “richism” will become part of language. Would like more insight into #4– what is larger problem behind procrastination? Instead of reading the other 99 in a single document, would prefer a weekly batch in email along with any additional comments for some (or each).

  6. Absolutely! Would love to see the remaining 91! And I think a simple title would work well for this, “101 Richisms” or “The Schefren 100” (sounds better than the Schefren 101).

  7. I definitely would like to see the other 91. I like the idea of getting them in a group of 10 over time. 101 all at once may be too much to absorb and integrate fully.

  8.         Positive Yes. Recommend they be brought in in series of 5 at a time, expanded where necessary and feedback encouraged with each series.  This give the reader time to study and place them into action, without being over whelmed with the entire list.  Also the entire list be made available, time set by you.  Keep the name, since you orginated them.  Looking forward to seeing more.

  9. Great content as always Rich and yes absolutly for the other 91…with gratitude.
    I”m going out on a limb for the title…”The Naked Schef” 10×10+1. Thanks again.

  10. Hi Rich, love your blogpost. Got hold of you via Andrew Lock and very pleased to be in your list :). Yes, please share all your insights and if possible ellaborate a little more on each of them to share your experiences, the good and the ones that set you up for more learning experiences. Best wishes from the Netherlands, Rik

  11. Yes, show me the other 91 insights for success That was a pretty powerful doc.
    I would like you to expand on question 6. Those are two powerful questions when facing a massive project. Thanks

  12. I liked the new concepts here. It is more than more food for thought. Certainly would like to read the other 91 and comprehend new ideas and imagine new thoughts conjured up.

    I would call it, “Brilliant New Business Concepts.” Not a bad idea from a first responder, does this mean that I get to drive the ambulance for once?


    Nice… Way to simply things. Sure we want
    to the see the rest of the money, the other 91!!
    Greg San Antonio

  14. Do I want to see the other 91 insights?  Absolutely!  I like the title as it is.  “Richisms” speaks to who you are and to the wealth (in whatever form) we strive to achieve.  I’d like to see you expand on the idea that change can make previously successful marketing tools and tactics obsolete.  That’s a very scary statement!

    Monique, Getting over Overwhelm

  15. 1.  Yes, the other insights would be worth posting

    2, Number 8 looks very much worth expanding on

    3.  Nah – “Richisms” sounds a great title!

  16. Please share the other 91 insights . Number 4 caught my attention .  If procrastination is a symptom of a bigger problem, I would love to know how to identify the bigger problem and eliminate it.  Riches 101 – Principles, Perspectives and Perceptions to make a difference in your Business

  17. 1. Yes – I would absolutely positively for sure love to see the other 91.

    2. The beauty of them is partly in their simplicity so for the most part they really don’t need exansion. But if I chose one if would be # 4 since I have been cursed with procrastination all my life – even as a youngster – and today I am 51.

    3. I would not change the title. I think it is just right. For those of us who know you – we just knew we had to read it. For those who don’t know you it has a powerful curiosity factor… “who is this guy and what the heck kind of brilliant insights is he sharing… let me check this out.”

    Thank you Rich. You, your team, and all that you all do IS appreciated.

  18. These are great ideas – well communicated.   All are powerful but #9 caught my eye.  I would love the remaining 91.   Title — perhaps “101 GIANT steps to personal freedom”.

  19. What a great idea  Kat and to pick just one is really hard as they are all great!  No 4: Procrastination is just a symptom of a bigger problem really spoke to me.

  20. Hello Rich,

    Thank you for the valuable information. Success is a mindset and you exemplify a positive attitude.

    I appreciate your efforts to make me successful.
    – Barry

  21. Hi Rich, I want to thank you for remembering me, with this great insightful
    marketing ideas. I can’t wait to put the 10 business ideas to move my Biz
    business forward for 2013 year. Additional 15 more ideas would be great
    and easy to consume, time wise. More expansion on # 10 for accountability
    at the end of the day, would be a great tracking way to measure progress.
    Title: Marketing Sprint Series  for “Aha Moments.”

  22. Rich, Brilliant idea! The 10 you shared are powerful and empowering! I would feel much appreciation for the opportunity to take in the other 91. Thank you!

  23. 1.  Would LOVE to see the other 91 insights that you have to share.  Short, single thoughts, easy to focus on one a day, etc. 
    2.  expansion on # 0 and #4.  I know a lot about getting past #4, but it still trips me up!
    3.  If Kat is featured as the compiler, then the title is great.  If it is only you, then I think something a little less narcisissitic would be more effective–101 Brilliant Business Insights

  24. 1.  Yes, I would love to see the other 91 internet business insights!
    2.  They are all absolutely great “Richisms” that resonate with me but the ones I would pick for you to expand on would be: 3, 4, 6, 7, and 10.
    3.  “Top 10 Richisms for Business Success” or “101 Richisms for Business Success”

  25. I would like to see all of the Richisms. along with more information on them.  I they all got me me thinking. the first one and number four got my attention.

  26. Yes that would be great to have the 101 quotes.

    My favorite ones are not on the list, but they are:
    Don’t look for resources. Instead, be resourceful.
    Just in time, not just in case.

    Rich Schefren’s 101 Strategic Insights For Entrepreneurs

  27. Keep the title, it does wonders for others to revere you, especially since you didn’t create it.
    I’d prefer for richism #6 to be expanded.
    And yes, the rest would be wonderful to see

  28. Damn it, Rich… you’re AGAIN making me be responsable for the success of my own business.

    #2 is a big douse of cold water.

    Yep, bring ’em. The larger the reality check the better. Funny how these apply to more than just ‘business. ‘ Thanks for sharing all so much of your hard work.

  29. Rich,

    Great insights… and of course we’d like to see the other 91!

    I do agree that your first principle belongs right there in the number 1 spot… it’s not about how much money you can make quickly, but what kind of value you can put out into the world!

    Looking forward to seeing more great content.


  30. These are great.  I would like to see the rest.  Personally I don’t like #5, although I do understand that’s just the way it is.

  31. These are all great insights, but fragmented. If you give us all 101, please please organize it into clusters or outline form. Standing by for organized information. “It is better to give a little information organized than it is to give a lot of information disorganized.” Make that number 102.

  32. 1.- Yes, i want to see the other 91 quotes.
    2.- I would like you to expand on “Procrastination is just a sympton of a bigger problem”, that quote leaves me thinking….. (maybe that is the problem).
    3.- I do not have any problem with the title.

  33. 1. Yes! Where are they??? 
    2. #1 How do you become aware of the needs of others willing to pay to have those needs met?
    3. Existing title works for me!

  34. 1. No, I don’t want to see the other 91. Okay, I’m kidding, yes please share those.

    2.  Love to hear more about this notion: “What is the least amount of effort and resources you need to get the results you desire?”(seems connected to — but distinct from — number 8, if you’d elaborate on how these are/aren’t connected.)

    3. Title: I suggest either “Think and Grow Rich Like Rich” or “Think Like Rich and Grow Rich”

  35. #4 on symptomatic procrastination is profound AND foundational. I would like to read more of your position on this salient topic. Truly a diamond in the rough. 
         I would say that virtually all 10 points are stand-alone blogs. Consider it.
    Keep it up, Jane

  36. I want to see the rest of the document and I would love for you to expand on #1,#4, #5, #8, and #10.

    Possible title: 101 Internet Business Ideas that will Rock Your World

  37. I would like to see the other comments but released in small groups. 10 is about the limit te brain can comfortably process at a time. 101 all at once is overwhemling – I always avoid those

  38. I would like to see the other comments but released in small groups. 10 is about the limit the brain can comfortably process at a time. 101 all at once is overwhemling – I always avoid those

  39. Yes, more, more, more! Procrastination is just a symptom of a bigger problem is thought provoking. Please elaborate, and while your at it, expand on methods to find “some group of people” in #1 (I realize one method is by gathering these comments).

  40. Rich: I beat Kat to the punch – I already have a document with “richisms” I’ve gotten from your podcasts, videos, and reports. They’ve given me huge “AHA’s!” Regardless, I wanna get my hands on the other 91!

  41. 0. Salute to Kat. That’s why you need to hire A-players, I see. Rich, I think you need a statue of Kat, sth like http://www.thatsmyface.com/ 😉

    1. Sure, saliva flowing vividly, hard to swallow it all.

    2. Well, that makes for at least 101 to 202 blog posts, I guess. Go ahead. No, wait a minute, that would mean a lot of time I have to invest to read and think about and implement and… … Hm, can’t think of a better investment right now.

    3. Title? Great copy of a classic. Love the word Richism though, seed of curiosity, self-explaining with a double meaning. Inventing that word alone is worth a statue. Well, the classic method for the headline is testing, I guess.

    Thanks a lot Kat and Rich


    • Sorry, I was refering to the title of the blog post.

      Perhaps, sth like:

      101 Richisms – “Critical Things I Learned From Building Several Multi-Million Dollar Internet Businesses”

  42. Thanks Kat for taking the initiative to pen these insights.
    1. I would like to see all the other 91 richisms
    2. I would like see richisms 6 and 9 expanded
    3. Leave it as Richisms: the name gives ownership to you

  43. 1.- Yes, i want to see the other 91 quotes.
    2.- I would like you to expand on “Procrastination is just a sympton of a bigger problem”, that quote leaves me thinking….. (maybe that is the problem).
    3.- I do not have any problem with the title


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