Rich Schefren's Million-Dollar Strategy for High-Paying Clients

By Dominique Fraser, Host of the Insightful Podcast

When you hear the name Rich Schefren, what likely comes to mind is an innovator, a pioneer in internet marketing, and a business strategist who has shaped the success of some of today’s biggest names. Rich's reputation precedes him, from the viral success of his Internet Business Manifesto to coaching influential entrepreneurs like Russell Brunson, Ryan Deiss, and Mike Filsaime. I recently had the honour of interviewing him on the Insightful Podcast, where we delved into his journey, successes, and million-dollar business offers.

Here’s an in-depth look into our conversation and the invaluable lessons we can all take away from his experience.

The Journey from Hypnosis Centers to Internet Marketing

Rich’s entrepreneurial journey began not in the digital world, but in a rather unexpected industry—hypnosis. After a successful stint in the clothing and music business, Rich managed hypnosis centers in Manhattan. His marketing style was shaped by this experience, where he learned the ins and outs of direct response advertising. As he put it, “The more cheesy and embarrassing an ad was, the better it performed.”

After 9/11, however, the hypnosis business dried up, and Rich needed to pivot. His fascination with direct response advertising carried him into the world of internet marketing, where he published eBooks, primarily in the parenting niche. It wasn’t long before Rich recognized that many of the principles that worked offline translated seamlessly to the digital world. This realization laid the foundation for his future success online.

The Viral Success of the Internet Business Manifesto

In 2006, Rich released what would become a game-changing report, the Internet Business Manifesto. Initially, Rich had modest goals for the manifesto—hoping to secure a dozen new coaching clients. However, the report exploded in popularity, being downloaded millions of times within the first five years.

“The Manifesto completely changed my life,” Rich recalled during our conversation. “I threw it on my blog without expecting much, and it went viral beyond my wildest dreams.”

The Manifesto not only made Rich a household name in internet marketing but also led to the development of seven more reports over the next 18 months, each bringing in millions of dollars.

The Birth of the Million-Dollar Offer

With the success of his coaching programs and reports, Rich began experimenting with high-ticket offers, including his $1 million consulting program. But as Rich explains, it wasn’t about randomly assigning a price tag to his services.

“One of my mentors, Mark Ford, had a coaching program where clients paid 4% of the increase in their gross revenue until they had paid $1 million,” he shared. “Inspired by that model, Jay Abraham and I decided to create our version.”

This offer included a $50,000 upfront retainer and provided clients with six months of coaching from both Rich and Jay. If their businesses didn’t start growing within six months, they had 30 days to get back on track, or the agreement could be terminated. “We realized early on that it wasn’t the size of the business that mattered but the entrepreneur’s track record and potential,” Rich explained.

Selecting the Right Clients

One of the key insights Rich shared during our interview was the importance of selecting the right clients for high-ticket offers. In his first run with the million-dollar offer, he focused on business size. However, after refining the selection process, he found more success by focusing on the entrepreneur behind the business.

“It wasn’t about the size of the business at all,” Rich noted. “It was about who the entrepreneur was and whether they had the potential to grow.”

This approach paid off as clients who enrolled in his programs often saw substantial business growth and were eager to re-enroll. Rich’s methodology was based on spotting leverage points in the business and unlocking hidden opportunities—a strategy that has helped numerous businesses skyrocket to success.

Leveraging Testimonials and Credibility

Throughout the interview, Rich emphasized the importance of leveraging past successes to build future opportunities. One example he shared was how he used his experiences coaching clients like Russell Brunson and Ryan Deiss as credibility markers in his marketing efforts. By showcasing his work with these successful entrepreneurs, Rich was able to attract more high-ticket clients.

“Each success became an asset that I could use to bring in more clients,” Rich explained. “If you share the stage with well-known people or have successful clients, don’t be shy about showcasing it.”

This strategy has proven effective for Rich, and he encourages other entrepreneurs and speakers to do the same. Every stage, every coaching session, and every testimonial should be repurposed as marketing material to build your credibility.

Building a Legacy with Steal Our Winners

In recent years, Rich launched Steal Our Winners, a subscription-based service designed to help entrepreneurs stay on top of the latest strategies and tactics in internet marketing. Each week, subscribers receive insights into what's currently working in the world of business and marketing. With contributions from over 200 experts, Steal Our Winners has quickly grown to almost 10,000 subscribers.

“What I’ve realized over the years is that success often comes down to getting a strategy or tactic early in its innovation cycle,” Rich explained. “That’s what Steal Our Winners is all about—giving entrepreneurs access to cutting-edge strategies before they become common knowledge.”

Steal Our Winners has allowed Rich to continue providing immense value to the entrepreneurial community, while also keeping himself at the forefront of internet marketing innovations.

Lessons for Entrepreneurs

As the interview drew to a close, I asked Rich about the current state of entrepreneurship and the strategies he recommends in today’s volatile business landscape. His advice was both simple and profound: remain flexible and keep your overhead low.

“In uncertain times, having options is your biggest asset,” Rich advised. “The more options you have, the more confident you can be in handling whatever comes your way.”

This mentality has allowed Rich to navigate the ups and downs of the business world, from the aftermath of 9/11 to the 2008 financial crisis, and now in the current economic climate. His success is a testament to the power of flexibility, innovation, and knowing when to pivot.

Rich Schefren’s journey from hypnosis centers to internet marketing mogul is nothing short of inspiring. His million-dollar coaching offers, viral marketing reports, and keen insights into business growth provide a blueprint for any entrepreneur looking to scale their business. As Rich reminded us during our conversation, success often comes down to spotting opportunities early, leveraging past successes, and staying flexible in the face of uncertainty.

If you're ready to elevate your business and start landing high-ticket clients, take a page from Rich Schefren’s playbook and apply these strategies today. And don’t forget to check out Steal Our Winners—the subscription that gives you access to the latest, most effective business strategies before they hit the mainstream.