Focusing on Important Matters, Waiting Lists and Checklists: James Schramko Shares Ways to Keep Businesses Profitable

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In his latest video on SuperFastBusiness.com, online entrepreneur James Schramko shares tips on successfully growing a business. He tackles the value of staying focused on important responsibilities, creating a product that people are willing to wait for, using checklists to assess business performance, and using videos and audio for marketing. He also invites viewers to listen to interviews with fellow entrepreneurs on InternetMarketingSpeed.com.

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James Schramko - Internet Business Expert

You actually want to go deeper in less things and that’s where you really get the traction: when you add those extra dimensions...That’s when your business develops faster than when you go out and get the new software or the latest marketing technique.

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“Work out what’s important and get rid of everything else.” This is the first piece of advice that James Schramko shares in his latest video update on SuperFastBusiness.com. The online business expert and Internet marketing coach reasons that many entrepreneurs are too eager to take on responsibilities and incorporate the latest trends and techniques to break the monotony of business, eventually making them feel spent and overwhelmed:

“Something I see all too often is that business owners start getting too thin too quickly. That is because we have this entrepreneurial streak where you quickly get bored and want to move to the next thing. We add things and we add things and we add things, and then suddenly the prospect of having to do all these things gets overwhelming,” he states. A more sound business strategy, according to Schramko, is to bring business “back to the core then go deeper.”

“You actually want to go deeper in less things and that’s where you really get the traction: when you add those extra dimensions, when you start split testing, when you start looking at your costs, when you look at cross sells and upsells, when you have better customer retention… That’s when your business develops faster than when you go out and get the new software or the latest marketing technique,” he explains.

Schramko then invites viewers to learn more business growth strategies by catching interviews with LeadPlayer co-founder Clay Collins and consulting tycoon Kyle Tully. Interested parties can listen to the interviews by visiting InternetMarketingSpeed.com.

In addition to focusing on important matters and going deeper in terms of business, Schramko also advises audiences to create products that are so valuable that customers will be willing to wait for them to be released. He shares that waiting lists also help increase enthusiasm for an upcoming product, and cites that his recent success in recruiting new SilverCircle members is partly influenced by the availability of waiting lists for limited slots in the program:

“SilverCircle closed this week and it was the fastest application process I’ve ever seen. I sent out one email on a Sunday night and by Monday, we already had 12 applicants and we were full. The reason they were so enthusiastic is because there’s a waiting list and I only open SilverCircle every three months,” he shares.

“So I challenge you in your business: Are you creating a product or a service that is so valuable that people will be prepared to wait? And when you do open up, they will buy and they’ll be extremely excited about it and they’ll also get tremendous value exchange for it,” Schramko adds.

Besides creating high-quality products and making these available to a limited number of people at a time, Schramko shares that another way to ensure growth in business is to use checklists to help entrepreneurs assess the current state of their operations. He lists five essential areas that entrepreneurs must check regularly: systems, people in the business, cash flow, strategy and structure.

To close his update, Schramko reveals that he has been using ScreenFlow 4 to edit his videos for SuperFastBusiness. He then encourages business owners to use videos and audio to enhance their marketing strategies, saying that “Audio and video are a big deal in any business.” He invites viewers to listen to his interview with DreamEngine founder and managing director Ryan Spanger to learn about techniques that can improve the overall quality and effectiveness of marketing videos. This interview is also available at InternetMarketingSpeed.com.

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