Win A 60 Minute Makeover

What would your business look like if I deconstructed, dissected, and detailed the areas where you are facing the biggest challenges and reworked them so they became the biggest profit centers of your newly remade, reorganized business?

I’m going to do that for ONE lucky person on my list, so they can experience a true feeling of independence on July 4th.

This is an opportunity for you to work with me, one-on-one, no holds barred, mano-a-mano, on your business – just as though you were one of my clients.

We’ll take apart your business, brick by brick, and replace the clay with solid gold.

If you would like me to re-engineer your business, in a lightning 60 minute makeover, absolutely F*R*E*E, you have to do only one thing-

Tell me why I should choose you?

Right now, I want you to tell me about your business, your single biggest strength and why you deserve to have me work on your business. When you post, make sure to fill out the private email field, so that we can contact you if you are selected.

You have until noon time on Sunday to submit your post. All posts submitted after that deadline will not considered. With that being said, please understand that this is not a race for the fastest post – I’m looking for the best answer.

One other thing. Today, Friday, my assistance Sheila did not come to work.

She refused to take one more phone call from people trying to “cut” into line trying to secure a spot in my coaching program.

Please – for the sake of harmony in my office – do not call and ask that your business be selected.

Regards,

Rich Schefren

P.S. Ever since our Alexa score hit 492, our server has developed a sever case of arthritis. If you experience any problems posting, please be patient and stick with it. I look forward to reading your posts.

The Office Is Under Seige…

My office has been under siege for the past two days and it looks like a horde of English World Cup soccer fans were parked here.

Ever since I released my Internet Business Manifesto, the phone has been ringing non-stop, Sheila my assistant has walked off the job three times because people insist on talking to me about the contents of the manifesto, and Debbie the secretary has told us we’re getting more calls coming in than the call center up stairs.

And to really top things off, my wife and daughters saw what was going on and high tailed it over to the other side of Florida for a “girl vacation.”

Our Alexa ranking is a cool 492 today and over 16,612 people have downloaded the manifesto.

It’s been one of the hottest topics on the Warrior Forum and I’ve been getting rave reviews from people like John Reese, John Carlton, Jim Edwards, and many more.

Here’s what Jim Edward’s told his list:

“Most people don’t know this, but 18 months ago I was so stressed out… strung out… and just plain tired, I was ready to quit the Internet at the “height” of my career…

All I did was work, sometimes 16-18 hours a day for days on end… and there was absolutely no end in sight. Yeah, I was making a good living, but my organization sucked and I was trying to do everything myself…

Then I met a guy who helped me understand that I was in charge of a *business* — not the “one-man band” that was getting ready to put me into an early grave. He is one of the main reasons I stayed online and now have a REAL organization that is growing by leaps and bounds with each passing month!”

Then, my server crashed briefly under the number of people trying to get their hands on the report. Let’s just say my bandwidth bill isn’t going to be cheap.

Plus, Dan my right hand man has found hundreds of bloggers from all corners of the web, discussing the manifesto and declaring it “the most important report to be released in years.”

Another one of my assistants, Kate, tells me there are thousands of people emailing me asking questions about the manifesto.

People are asking me what I’m going to be presenting at the Dan Kennedy Infomarketing Summit, and my new partners at the 300 million dollar company I’m working with are wondering why they can’t get through to me.

At one point, 17 people were opting in every second.

No wonder it’s so crazy around here.

But I’m not done. People have been begging me for more details about my strategies.

So I’m going to actually let you create the content for the follow up to the Internet Business Manifesto.

Here’s what I’d like you to do…

Answer the following question…

Q: After reading the manifesto, what is the one thing that you think will prevent you from achieving success similiar to that of my clients?

I’m preparing a video you should expect to see in your email box in the next few days. In it, I’ll try and answer some of
your questions.

I feel like Noah trying to hold back the flood…

Rich

How Can You Tell If A Customer Is Still A Customer Or Not?

Yesterday my group coaching call centered on customer lifecycles and how to use customer behavior metrics such as latency, frequency, recency, and monetary value to conduct predictive modeling.

The concept here is that the best way to predict a customer’s future behavior is by their current behavior, especially when their behavior can be compared to the aggregate former customer so you can take preventive action and bring them back into your business.

On the flip side, you can also know in advance when a customer is displaying hyper-responsive tendencies so you can make sure that you put offers in front of this customer fast enough so they don’t go somewhere else to quench their thirst for whatever it is you’re selling.

But the question in the title to this entry is an important one, yet sadly, it’s a question 99% of small business owners never even consider.

To make matters worse most small business owners don’t really understand that their customer list is perishable and that without putting future offers in front of their customer lists they become an accomplice in degrading their business’s #1 asset.

If you’ve never considered the above question then you are currently practicing “The Ostrich Theory of Customer Marketing.”

This is where you operate under the false assumption that your customers are customers for life – unless they specifically tell you they are no longer interested in buying from you.

Just to be clear… Every person who ever bought from you is not the definition of a customer.

So, take a look inside your business and get come clarity about your customer life cycle. Then take it even further and define the latencies between each desired customer action.

Lastly, from now on when customers deviate from the customer life cycle don’t stick your head in the sand; create an irrefutable offer that lures the customer back.

Hot Off The Press: Google Trends

I have something REALLY cool to show you.

Google JUST released a new tool called “Google Trends”.

Let’s just say you can use this tool to discover and analyze markets in the blink of an eye. It’s fast, easy and free.

But here’s what’s soo cool about this tool… (besides the pretty charts) it gives you a view OVER TIME, of how a particular market is behaving. Think about all the other keyword tools you commonly use. I bet they give you just a snapshot of how a market is doing for just that month. Is that enough to tell you if a market is growing or shrinking?

This is critical information to know when you’re investigating a niche!

You can check it out at: http://www.google.com/trends

Rich

Deciding What To Do Each Day

Gee, what do I want to do today?

If you ever started your day by asking yourself that same question then pay very close attention because the question above is the beginning of an ineffective day.

Strategic entrepreneurs don’t start out their day asking “what do I want to do?” They ask themselves “What are the most important, highest leverage activities that need to get done?” and create a list of the most important activities that answer the question.

After that, they estimate the amount of time each activity should take.

Next, they analyze the list of important activities that must get done and determine which activities they should do themselves and who they are going to get to do the remaining activities.

Then when they start work they tackle the most important, highest leverage task or activity first. They do not ask the question of themselves “which one of these task do I want to do now?”

Remember no entrepreneur is born effective you have to cultivate it and you do that by practicing the habits of effectiveness. You wouldn’t want an employee who worked on what they chose and you should respect your business at the very least as much as you want your team to.

Here’s a quote from the Harvard Business Review, June 2004 p59

“Jack Welch realized that what needed to be done at General Electric when he took over as chief executive was not the overseas expansion HE WANTED to launch. It was getting rid of businesses that, no matter how profitable, could not be number one or number two in their industries.”

Today be conscious of the choices you make when deciding what to work on.

Are you picking tasks based on what you want or are you picking your activities based on what your company needs from you?

If you pick the most important task to work on first you’ll be more effective, your company will be more profitable, and you’ll be able to work less so you can actually pick fun things to do outside of work instead of the poor substitutes you’ve been using to fill your work days.

So remember – it’s not what you want to do – it’s what your business needs done.

To Increased Effectiveness,

Rich Schefren

Your Business’s Scarcest Resource

If you’ve kept at it and tracked your time you should now have crystal clarity about how you are currently using your time.

Any surprises?

Are you doing things that you shouldn’t be doing?

If so, it’s costing you a lot more than you think, here’s why…

When you study systems you learn that the maximum output of any process is set by its scarcest resource. Your business is a system.

And what are the key resources needed by your business?

1. Money

2. People

3. Time

Money

If you have the right business model and you are effectively progressing toward your business goals you should either have, or have access to enough money. And the ability to get more isn’t constrained, there are plenty of investors for the right businesses.

People – There is no limit usually to the people you can hire or outsource to, especially when you have enough money.

Time – Of the 3 major resources time is scarcest. It’s also totally perishable and cannot be stored. Yesterday’s time is gone forever and will never come back.

Everything you and your business does requires time.

All work (whether useful or not) eats away your time. But, most entrepreneurs (at least the unsuccessful ones) take for granted the unique, irreplaceable, totally perishable, and necessary resource.

Effective entrepreneurs realize that time is the limiting factor.

So, with your time logs in front of you answer the question:

What are some of the activities that I am currently doing that does not contribute to my effectiveness?

And once you come up with some answers the next question to think about is:

How can I either eliminate these time drains, automate them, or pass them off to someone else?

If you are not sure what are the activities that you should be doing, have no fear, I’ll quickly explain how you can arrive at the right answer.

Let’s pretend for a moment you were leaving your company for a while and you were going to hire a company president to grow your business while you were away. Before you left, the new company president asked you – what are the activities I must focus on, on a daily basis if I really want to grow your company as quickly as possible?

Your answer is where you should be spending your time. Because if you are running your company then you are the company’s president. And if you want to be effective you better be able to answer these two questions.

What am I getting paid to do?

What should I be paid to do if I am being paid for the right things to be done in my position?

Once you are clear about that – begin to ruthlessly cut away at activities that don’t make the list. In my upcoming notes to you I’ll show you how to do exactly that – get rid on the wasteful activities that clog up your cashflow.

To Your Effectiveness,

Rich Schefren

Dealing With Setbacks

Since we’ve been talking about conditioning the habit of effectiveness it’s a good idea to address what to do when you slip and revert back to your non-productive ways.

Central to dealing with setbacks are three terms:

Lapse ——- Relapse ——- Collapse

When establishing a new habit that requires a behavior change, quite often there are a number of setbacks along the way.

How you react to these setbacks will ultimately determine your success or failure.

Listen, everyone makes mistakes. Some bounce back and use the slip as a signal to increase their commitment. Sadly, it is common though for a slip to cause a negative reaction which feeds upon itself until the desired behavior is totally given up.

There are two paths to success.

The first is to realize the importance of consistency when establishing any habit and commit to avoid and prevent slips all together.

The second is to respond to a slip by immediately returning to the desired behavior.

A lapse is a slight error or slip, it’s the first instance of backsliding to your former habit. It’s a discreet event like not recording your time in your time log all morning.

A Relapse occurs when lapses string together for a continued period of time.

A Collapse is when the relapse becomes permanent, and all hope of getting back into the grove are given up.

The important point to always remember is this:

A LAPSE DOES NOT EQUAL A RELAPSE.

You see, for some people, when they experience a lapse they feel as if they have nothing to shoot for – all they can do is start over. But the truth is far from that. And I want you to understand this point because it will make conditioning the habit of effectiveness easier over the long haul.

When you lapse, instead of thinking all hope is lost, consider it a challenge, can you keep it as just a lapse and immediately recommit yourself so your lapse doesn’t turn into a relapse or a collapse?

Of course you can. And obviously you should.

The point is this – even when you’ve slipped, you are still in control. Only you will decide the impact of that lapse – you
can get right back on track, or, postpone your re-commitment and have your entire effort collapse. The choice is yours.

Commit to yourself – that if your lapse or slip, you’ll remind yourself that you are still in control and immediately get back on track. This way you don’t risk ruining the hard work you’ve already extended.

To bring this point home – keep your time logs up to date – and if you slip and go some time without using your time log – just recommit as soon as possible (immediately as opposed to tomorrow). If you do you’ll be that much closer to becoming an effective entrepreneur.

To Your Effectiveness,

Rich Schefren

Analyze Your Time and Notice Patterns

Being strategic and effective is all about getting the
right things done.

In order to become a strategic entrepreneur
you will need to build the habit of effectiveness. No one is
born effective – I repeat – it’s not an inborn trait, so…
if you never worked on developing the skill of effectiveness
you are not as effective as you could be or should be.

Therefore to build the habit of effectiveness you’ll need to
practice (consistent practice leads to powerful habits) the
five skill sets I laid out for you in the last post.

While the 5 skill sets above are all easy to understand,
they aren’t so easy to do well. In other words, you will
have to build and develop them (they don’t appear like
magic), just like you’ve learned how to do anything else
important in your life. You need to continually practice
over and over again until these five skill sets become
“The Way” you automatically go about doing your work.

Next week I’ll breaking down in detail how learning and
developing habits go hand in hand and the key distinctions
you must understand to be successful.

If you’ve been keeping up, today should be day 3 of your
time log. Is it getting easier? It should be by now, and
you should also start seeing how much time you’ve been
spending on tasks and activities other than your top
priorities.

Scary, isn’t it?

Just keep up the good work, make sure that you spend as
little time (none would be best) multitasking as possible.

Stay focused on one task at a time. It’ll be easier to
record, and its the work process of highly effective
entrepreneurs.

So just keep recording, keep focused and notice your
patterns, make today a super-productive day.

What Skills Are Important For Business Building?

There are lots of entrepreneurs who are quite knowledgeable;
however, effective entrepreneurs are much, much rarer.

Yet
it is the effective entrepreneur who succeeds in building
successful businesses.

As an entrepreneur, you and your company make no money for
simply knowing. You make money and build your business by
getting the right things done.

How to decide what are the right things and how to get
them done will be the primary focus of your upcoming
ProfitNotes.

By highlighting both “what to do” and “how to do it” you’ll
learn (if you follow my lead and spend the few minutes each
day these emails require) what you do well, what you need to
improve on, what you are currently doing poorly and shouldn’t
be doing at all.

You’ll learn where you belong in your business, your niche and
your market.

Your first assignment:

(1) Take out a sheet of paper or open up a blank mindmap.

(2) Spend 3 minutes brainstorming what you believe are the
skill-sets an entrepreneur must have to be effective.

(3) Take 1 minute and rate your current level of performance
in these areas.

(4) Spend 30 seconds highlighting the areas you believe are
your biggest roadblocks to success.

(5) Take 2 minutes to answer this questions “What could you
do today (realistically) to be more effective?”

(6) Do the one thing you just decided would make you more
effective today.

That’s it for now, in the next post I’ll tell you what I believe are
the 5 skills every entrepreneur must develop to maximize their
effectiveness and truly be a Strategic Entrepreneur.

But for today, make sure to do one thing new or different that
you believe will make you more effective.

How A Right Hand Can Double Your Business

As your business begins experiencing growth, it’s vital that you bring on a right-hand man (or woman) to help you in your quest for success.

The sooner the better, because when your business is expanding, it’s difficult to take time out to train another person for tasks you need to delegate.

Still, you can’t just bring anyone into the equation. You need to make sure they have the same passion for your business and ideas that you do. How do you achieve that? By compensating them based on their performance or by giving them a percentage of the sales.

1 Use Performance Incentives

Incentives go a long way in motivating any staff, but with an assistant who works closely with you to realize the ultimate goals of the company, it’s even more effective as a benefit and reward.

You have to be willing to put all of your trust into this person. You don’t want to worry about what they’ll do or how they’ll go about something. They should always strive to make your company look good in the eyes of your customers and business associates.

The type of person you want to hire on as a right hand man or woman will be highly motivated and able to handle their tasks with minimal input from you once they’ve been instructed on how to do something.

The person should be willing to learn new ideas – and eager to take on more responsibilities in the company. Don’t hire anyone who sits back waiting for an opportunity, or who scoffs at the idea of having to do more work.

2 Motivate Them With Vision

Your goal is to get them excited about the business – help them recognize the possibilities so that they actively work with you on accomplishing everything the business needs to grow and succeed.

Someone once said that hiring the perfect right hand man is like finding the right suit – they have to fit in just right with the company or else you’ll feel uncomfortable allowing them to handle certain responsibilities.

In a best-case scenario, the right hand man should be able to fill your shoes in any situation – without missing a beat. But this doesn’t mean you have to look for someone exactly like you – in fact, it’s better if his talents and skills complement your own – skills he possesses, you lack, and vice versa.

You have to be careful not to hire someone whose only goal is to replace you within the company… or steal your idea to launch his own business. His loyalty to you should be paramount.

If there are other employees within the company, make sure you hire someone who earns the respect of the others. You can’t have a right hand man who treats your staff with disrespect.

3 Be Very Selective

You may have to go through several assistants before finding the right fit. You’ll realize that not everyone has what it takes to stand in such an important position. When you do find the person, you’ll know it – because you’ll instantly feel a sense of relief that your business is on the right track to success.

After finding the right person, the two of you will work in sync to help the business experience growth. Having a right hand man will free up your time so that you can focus on more important tasks.

If he’s good enough at what he does, then you can double up on tactics that show promise in your company’s financial future. If you’re both good copywriters, then you can double the amount of high-converting content you write.

If sales are your forte, but he’s better at customer service, then divvy up the responsibility for the betterment of the business. You can constantly assess both you and your assistant’s capabilities and leverage each of your skills to their maximum potential.