Rich Schefren Internet Business Manifesto
On the day when Rich Schefren's eagerly awaited new report, the "Attention Age Doctrine Part 2" comes out (from 5:00pm GMT 28 November 2007) I thought I would be a contrarian and go back to his first major release, his "Internet Business Manifesto".
I was made to sit up and take notice straight away.
First is the shock of a very busy diagram in bright pink, yellow and green that shows an Internet business and all the plates that you have to keep spinning at the same time.
If you thought running an Internet business was easy, think again.
Then there is this statement:
"A big business was just a small business that did the right things... A wealthy business owner was an opportunity seeker who became an entrepreneur..."
Rich then established his credentials having coached just about every Internet marketing star I could think of. I knew this was a man I should take notice of.
The hype around Internet Marketing has been similar to Dick Whittington. "All the streets in London are paved with gold" but unlike Dick, most of us never reached the destination and never found the gold.
Rich's definition of the fundamental problem struck home.
- Symptom - some people will buy anything that looks as if it will make them money but sadly, they won't get results.
- Cause - people suffer from opportunistic thinking. They seeing the flashing pound notes of the opportunity.
- Basic problem - this opportunistic thinking has replaced strategy rather than supplementing it.
I realised that this was the same thing that I talk about in my business coaching with my clients.
If they don't have a vision of where they want to go, then there is a danger that they get pulled from pillar to post as opportunities arise in the physical world.
New customers wanting your range but also something a little bit different. Suppliers wanting you to extend your range into other associated areas. Employees coming up with ideas and of course, you have your own creative spark. There are just so many ideas...
But the danger is that you start chasing one idea, then another. But not following through. Not delivering the end result. Lots of activity without any reward.
Can you see how opportunity chasing can be a fundamental cause of that old business problem - working too many hours for too little money?
It used to be a joke when you were an employee. It is deadly serious when you are self employed because you no longer have your salary as a safety net.
But worrying about earning enough to live the life you want has this nasty habit of encouraging opportunity thinking. After all, the next one might be the one.
While the Internet Business Manifesto and Rich Schefren's work is mainly targeted at Internet Marketer, his lessons are profound and some apply to every business. Others apply to every business that is looking to generate a reasonable amount of leads and profit through Internet Marketing.
Another of his quotes again shook me to the core.
"Since when is MORE the solution to having TOO MUCH?"
Working hard? Not sure where to turn? Not finishing what you started?
Surely the last thing you want is more opportunities to present themselves.
What you need is a vision and a strategy to filter opportunities through, then backed up with purposeful action.
You can only do so much so if a new opportunity comes up you have to ask yourself a few questions:
- Does this opportunity move me closer to my overall goal or am I chasing rainbows?
- If I take on this opportunity, what am I going to stop doing?
I make this point with my business coaching clients.
- Strategy is as much deciding what you won't do as it is about saying what you will.
- Targeting these customers means ignoring those customers.
- Selling these products means letting your competitors sell those products.
I'm not going to summarise the whole report for you.
It's much better that you read it for yourself and you can get the Internet Business Manifesto here.
It will help you prepare for his next blockbuster, The Attention Age Doctrine Part 2 released at 5:00pm GMT today.
To Your Success
Your Profit Coach
Paul Simister
Business coaching for customer focused entrepreneurs
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