James Schramko is a mega-successful online business entrepreneur and he now spends the majority of his time helping other entrepreneurs through his online coaching programs and…. surfing. In fact, it’s fair to say James is pretty obsessed with surfing, but that time to live life on his own terms has not come without some hard work and hard knocks along the way. In this episode, James talks about life lessons, avoiding distractions and the real key to online business success—it might be different to what you’ve been told before. I took so many notes my fingers are sore. If you want some common sense bombs, this is the episode for you!
About the Podcast
If you’ve thought about or recently made the leap into entrepreneurship, but you’re finding the journey overwhelming, I want to help you land on two feet and gracefully overcome the challenges that stand in your way. You can do it. You are doing it… as am I. We are in this together! Through the stories my guests and I share on Your Brilliant Un-Career, the Podcast, I aim to help you shift from stuck to inspired, from dreamer to doer. This podcast is proudly brought to you by my bestselling book: Your Brilliant Un-Career: Women, Entrepreneurship, and Making the Leap, out now on Amazon. http://bit.ly/uncareerp (Paperback version) http://bit.ly/uncareer (Kindle version), and Shift Club, creating marketing that moves… your business, your community and the world!
James Schramko is the founder of Sydney based online marketing business www.SuperFastBusiness.com. With a knack for business / lifestyle designing, he surfs every day and leads his multi-million dollar business.
Connect with James
Takeaways from Episode 32
- Do something offline and get out of that little bubble. Because I know we hear this expression all the time, oh you’re leaving money on the table… but I think a lot of people are leaving life on the table.
- I think a lot of people in the expert space are caught up in the spin cycle. They don’t see it so they don’t pass it on.
- If you could just see what’s going on. Look around you. Every person bumping into each other coming in and out of elevators because they’re looking at a little tiny screen. And I just think, what’s going on with society? This isn’t right.
- You really don’t need that little dopamine hit when someone friends you or gives you a love heart or like. You can generate your own stoke. You can find natural highs from mother nature.
- Human potential and human performance is one of the wildest variables on the planet. It’s fascinating to me how, given the same resources and environment different people perform so differently.
- I did learn that people are quite motivated according to their own needs. Given a different deadline or different pressure, people perform differently.
- You’ve got to carry yourself confidently when you’re in a difficult situation. It’s gonna help you get out of it.
- It took me too long to find an offer to convert and it took me too long to build a team around that.
- People get so easily distracted and they get caught up in the fray because sometimes they don’t really have a solid plan.
- Focus on an offer that converts, scaling that with a team, and making sure you have the right packaging and pricing model, usually recurring so you’re not breaking your back for a small amount of dollars.
- The profit formula: Prospects X conversions = customers X transaction value X frequency X margin = profit. Everyone’s obsessed with leads, leads, leads. The bit they miss is the frequency. If you can take someone from buying once to buying 10 times, you can make a lot more profit.
- We keep recurring purchases going so long as we’re getting value. If you can bump up the number of times people pay you, you don’t need as many people.
- Whatever you provide as a solution should be good enough that people would miss it if they don’t have it anymore.
- The peacocks on soapboxes like Periscope are uber-self-obsessed. These narcissists measure their self worth in love hearts. That’s just crazy. If they focus on the customer, then they would be more interested in solutions that customers can get great value from and would miss if they don’t have it. It’s not about how many love hearts you have, it’s about how much value can you help someone get in their life and that they’d be happy to compensate you for.
- Having recurring income coming in makes life easier. Recurring income helps you predict your income.
- Imagine if you didn’t have to wake up at 6 o-clock this morning and grind for the next 12 hours and take orders from someone else. All of a sudden you have infinite choice and that can be overwhelming. You have decide what you want to do with your life. You need a scoring system to prioritise your choices.
- How I got there was focusing on recurring, building the right team, focusing on what matters and turning off everything else.
- Most people treat things equally. One job is probably absolutely critical and 8 of them useless. The ability to sift and sort and then reject is critical. I think where people go wrong is they can’t let go or reject. That’s why they hoard emails in their inbox. That’s why they keep buying courses, because it’s the fear of missing out. That’s why they get pulled and tugged around by every marketer’s convincing marketing words on a page. They’ve put a lot of energy towards convincing you to take that action. Unless you’re strong willed or you’ve got your own plan, you’re going to get sucked into that vortex.
- Pull back, focus for a minute and get clear on what it is you want. Don’t let people take you off track.
- If you want to have a different day tomorrow than you had today, you can make different choices.
- The willingness and acceptance to have change is a key determinant to your ability to succeed in life. If you can’t handle change then you’re really going to get stuck into the way that other people want you to live your life.
- Be prepared to let something go, to swing from one vine to the next.
- Remove compromise. I made my online business compete with my day job for my attention.
- James’s making the leap tip: Stop talking about it, and spinning your wheels. Just start doing it. Make a trigger point (like matching your current income) to make the switch. Be prepared to accept the short term burning of the candle at both ends.
- I’ve given myself decades of a great lifestyle by putting in about 2.5 years of hard work.
- Other people have done it. Learn from them.
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Want More on this Topic?
Chapter 4 of Your Brilliant Un-Career talks about how to plan your business success. I have done a terrific interview with Amazon bestselling author and startup success story Dan Norris on this topic that I want you to have. Access this interview for free here, along with 32 other business building podcast interviews, templates, worksheets and motivational affirmations.