Rich Schefren Biography (Strategic Profits)
|Rich Schefren Biography (Strategic Profits)|
|Birth Name||Richard Schefren|
|Birth Date||August 30, 1972|
|Residence||Deerfield Beach, FL|
|Occupation||Internet Marketer Businessman, Copywriter|
|Specializations||Business Strategy, Business Coaching, Internet Marketing|
|Earnings||US$2 million (est. 2012)|
|Earnings (all-time)||US$17 million|
|IM Rich List||#9|
Rich Schefren is an internet marketer, business strategist and coach from the US. He is the Founder and CEO of Strategic Profits, which provides online training for entrepreneurs and small businesses. Schefren is known in the internet marketing community as the "guru's guru", and has both coached and joint ventured with many other successful entrepreneurs.
Schefren graduated from Case Western Reserve University and landed a job with Arthur Andersen (from whom he had won college scholarships) in strategic planning. In 1994 he decided to leave Arthur Andersen and go to work in the family business, which owned a clothing store on Broadway in Lower Manhattan. At that time the store was struggling to achieve growth and compete with larger stores that had more profitable locations in shopping malls. Schefren realised significant change was needed to turn the company around and increase growth.
His strategy was to turn the store into a fashionable clothing boutique. Using his knowledge and passion for techno music he rebranded the store and recruited people who shared his vision for what the relaunched store offered; techno clothing and related merchandise at discount prices.
His ideas and plan paid off as the store began attracting new customers and many celebrity patrons including Prince, Bon Jovi, Uma Thurman, Madonna and Eric Clapton. Revenue blossomed from $1.5 million to over $6.5 million in just three years. Schefren attributes part of this success to recruiting the right people, many of whom went on to senior positions at other famous companies like Levis, Diesel and Prada.
Success in the "rag trade" came at a price, Schefren admits, and after many long nights turning the family business around he decided that it really wasn't what he wanted to do for the rest of his life. He left the company and went back to college to finish his degree before training in hypnotherapy.
With his wife and a $7500 investment he opened a hypnosis centre called Dynamic Changes, which also proved successful, soon expanding to multiple locations and generating $7 million revenue in four years. Schefren realised early on that he could make a lot more money by using his marketing skills and gained a reputation not as a hypnotist but as an effective marketer in the hypnosis industry. He later sold his methods to help other hypnosis vendors with their own businesses.
During his work in the hypnosis industry, Schefren discovered a passion for internet marketing and quickly set about creating joint ventures with established internet marketers. He found that the direct marketing principles he had learned as a student of Jay Abraham and John Carlton were in great demand online yet were not being widely taught. He noticed that many marketers were selling short-lived "tricks, tips and hype", and saw a gap in the market to develop more robust teaching materials for would-be entrepreneurs to learn fundamental marketing skills and think strategically.
Schefren launched Strategic Profits in 2004, specifically targeting the internet marketing community. His first ever product launch online made $287,000 in one week. In his first two years online he amassed a personal fortune of $4million. His products and online assets include:
- Business Growth System 2.0 - a business building program for turning "opportunity seekers into entrepreneurs".
- Business Acceleration Program - a high-ticket, comprehensive business-building program.
- The Founders Club - business blueprint for making money online.
- Guided Profit System 2.0 - a program for overcoming business obstacles and building a successful business.
- Internet Business Manifesto - popular and free PDF download