James Schramko

James coaches experts like Ezra Firestone, Tom Breeze and Kevin Rogers. He has run his 7 figure membership, SuperFastBusiness, for 8 years now and trained some of the top experts in the field. Focusing on how to help online business owners get more profit whilst working less through online marketing, James provides value through his podcast as well as a members forum.

Expert session

Tactic that has had the biggest impact on James’ success

Creating real life connection and knowing your hourly value.

Result if you follow the steps in James’ session

Retain your members longer and a way to know if you’re spending your time appropriately in your membership.

Full session with video, notes, audio and discussion inside EHQ Club. Learn more

Expert session snapshot

Transcript

It was one of the criticisms I had of four or five memberships I was a member of before I created my membership is that someone would found it set up some staff and then they’d be off to the next thing and the members are there talking to themselves so there’s a course there that’s not supported and you don’t see the founder anymore and might turn up and I’ve turned up consistently pretty much every day for as long as I’ve had a membership forum and it’s been a good formula because no one else does it so everyone notices it and Andy you know you can extend on that not just turning up virtually.

But I turn up to actual physical local meetups all around the world which is great because I get to travel to other countries and I’ve got a proper business reason to do that but once you connect with people face to face it really takes that relationship to another level.

I’ve met you several times in person once we went surfing out there and also stoyan Edda local meetup and that really takes things to the next level someone’s less likely to leave when they have that sort of connection. 

Yes I think it you know it makes sense right like showing up turning up a load of the time that people are saying if you membership they want access to you as well and I think maybe you know well I’d like to come from you maybe why do you think you know you said earlier that maybe you’re one of the only ones doing it why aren’t others a lot of them have different way of thinking about their business it can be as bad as they have a tax payment due or a mortgage payment jus and then they need to sell something so they start with their own needs first then they think what can I sell and I’m actually seeing them sitting around talking about this you know what could I sell.

What our people are going to buy and and then they put something out there and their next thought is how can I have no commitment to this how can I get out of it and on to the next thing and it’s all backwards as far as I’m concerned I like to think about solving a problem for a customer and then making that solution useful for the customer and then how can I continue to serve that customer forever like a lifetime situation if they’re the right customer and I guess some of this stems from settings that I might have read from Jay Abraham about the strategy of preeminence about having a duty of care to your clients and serving them and then working in companies like Mercedes-Benz where I could see someone might start with the c-class and as their business and their life evolves they might move up to an eClass and then maybe an SL or an AMG.

Like you can stick with the customer and keep serving them for a long time I think there’s maybe you know the the rumor or the theory going around that you know you can start a business online and it’ll just make you passive income whereas you know it’s not true if you want to if you want to build a business and it has you know you’ve done successfully with yours in it and that’s working you need to get turn up and be committed to it and there aren’t a lot of memberships or people that are doing this and I think that there are some people who just turn and think that I can do this for a few times and then leave and it’ll just run itself.

But if we really want to make +this successful and get that engagement membership feel like your community you know how should we do this where should we be focusing well if you could look for some metaphors like if you’re going to build a building for example and then make an income from it by renting out the office space there’s the different skill sets involved to start with like the first thing is you’ve got to try and find the right build space to build the building then you have to map it all out and get all the right components and approvals and build it and then if you can build it then you’ve got to go about being competitive and less in the office space and then in getting in tenants and looking after their needs.

There’s a few  different skill sets involved in that and I think a lot of people or get excited about building this thing but they don’t know how to maintain it or maybe they’ve got maintaining things but they don’t know how to build it so I think a membership it seems like a very simple idea certainly the passive income one is very funny because the biggest advocates like the people who put that in their domain URLs are the first people to tell you how unpassable is to set up in the first place.

Now I’m cash sitting in my bank account earning interest at a couple of percent that’s passive income I’m doing nothing with that right I’d like to think of a membership as a very leveraged income it’s extremely leveraged and I’ve got some tools and filters that I used to work out how leveraged that is and the very best one is the effective Valley rate and I simply work out what it is my monthly profit and how many hours a month do I work and that formula will reveal your hourly rate and I’ll give you a simple example if I was making ten thousand dollars a month and I was working twenty-five hours.

Then I’m probably making a hundred bucks an hour if I’m doing a hundred thousand dollars a month in profit and I’m working twenty five hours a month then I’m making $1,000 an hour lines that’s it that’s a guideline to work out if you’d be better off to go and get a job at McDonald’s.