Designing a Business Around Your Flaws With Internet Marketing Pioneer Rich Schefren

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In today’s very special episode, Igor picks the brains of one of the online business’ biggest legends. They discuss all sorts of exciting things: problem-solving skills, business strategies, journaling, parenting, work ethics, personal development and diminishing returns, the future of online business, and a lot more in between. One thing is certain, this is not an episode you want to miss!

Guest: Rich Schefren is widely recognized as an Internet marketing pioneer and one of the world’s top experts on online business strategy. He is one of the most respected people in this whole industry, and is often referred to as “the guru of gurus”.

[0:00:00] Interview with Rich Schefren about his pioneering techniques in digital marketing.

[0:02:52] The importance of asking better questions:

  • Igor, shared how he learned this from one of Rich Sheffrin’s students, Alex Jeffries, that if he could phrase a question correctly, the answer would almost pop up on its own.

  • Igor asked Rich how he came up with this very profound concept.

  • Rich explained that when he was coaching people, he noticed how many entrepreneurs don’t spend enough time thinking overall.

  • Some people just go on autopilot mode and don’t take the time to think.

  • Rich shared that he keeps a journal to avoid going on autopilot and just going through the motions

[0:04:47] The importance of journaling for goal setting and clarity:

  • Rich discusses how he uses his journal to reflect on his goals and stay focused on what is important.

  • Without a constant reminder, it is easy to lose track of what one is trying to achieve.

  • Rich uses his journal to ask himself questions about his current situation and what he hopes to achieve in the future. He breaks down his goals into smaller, more manageable steps and asks himself what he needs to do to achieve them.

  • He asks himself what he needs to notice to alert him of opportunities to achieve his goals faster.

  • This helps him to get really clear about what he wants and how to get there.

[0:09:20] The Importance of Developing Clear and Specific Questions 

  • Rich asks himself very specific questions to get the right answers.

  • Most people do not ask themselves these types of questions and this is the reason why many people struggle to achieve their goals.

  • People need to practise these skills to get rid of their mental laziness.

  • They just ask to know as opposed to asking to be able to do something.

  • By constantly reflecting on one’s goals and asking themselves these types of questions, they can stay focused and motivated, and ultimately achieve their goals.

[0:10:51] How setting goals helps us avoid drifting in life: A Discussion on Mental Exhaustion and Distractions

  • In one of Igor’s all time favourite books, “ Outwitting the Devil” , Napoleon Hill’s talk about how drifters are one of the devil’s most powerful tools.

  • By using drifters or distractions the devil (metaphorically) takes hold of people’s minds.

  • Rich agrees on how easy it is to get distracted, especially when we’re exhausted or tired.

  • Rich talks about how UFC is the only sport he likes and how allows himself to watch his favourite sport now whenever he feels like his mind is exhausted from thinking, but when he was younger, he had very few extracurricular activities other than work and studying stuff related to work.

 [0:12:55] Building A Second Brain And Keeping Your Favourite Problems In Mind

  • Rich praises Tiago Forte’s book called “Building a Second Brain” and how much it impacted him positively. He talks about how he came across Tiago and what he learned from him.

  • Tiago taught Rich something that Richard Feynman, the famous scientist, MIT mathematician used to do, which is how he always kept a dozen of his favourite problems in mind.

  • When your favourite problems are constantly in your mind,every time you hear or read a new trick or a new result, you can test it again against each of your twelve problems to see whether it helps. Every once in a while, there’ll be a hit

[0:15:30] The concepts taught by Rich, as one of the world’s first online business coaches

  •  Rich shares how, being one of the first online business coaches ever, a lot of the stuff that he taught is kind of mainstream now, but it was not even invented by him. It was just stuff that he got access to a lot earlier than most people in our market.

  • Some of the concepts Rich taught early on were: building a business around one’s strengths, building processes and systems, etc and all of these are mainstream concepts now.

  • One thing that Rich taught but isn’t so mainstream though, is a very common mistake everybody makes, and how they build a business around their mythical self that they like, instead of their true self.

[0:17:25] Designing a Business Around Your True Self And Your Flaws

  • Most entrepreneurs, when they think about the business of their dreams, they’re also thinking about a version of themselves playing at some absurdly high level in that business of their dreams, instead of their real selves.

  • They ignore the fact that personal change is very difficult and unlikely.

  • Rich’s trick is to get really clear about your flaws, what you like, what you don’t like, what you can do, what you can’t do, et cetera, and then design the business to be successful without you ever having to change.

  • A great question to ask yourself is: what specifically needs to change in this business for it to be a lot more successful if I don’t change at all?

[0:19:28] How accepting your flaws helps simplify your life 

  • Igor shares a great anecdote that  when he had someone make some meal prep for him, but with time, he noticed that whenever there were too many steps left to do before actually eating the food, he would be frustrated and eat something else.

  • Once he realised that, he made small changes with the person responsible for food prepping, in order to redesign the process to work around Igor’s “flaw” instead of expecting himself to fix his flaw.

  • Most people fall into the trap of constantly hoping to change, or promising themselves to change, and they keep trying and failing, wasting so much energy at it.

  • Changing your bad habits or flaws is extremely hard. There are reasons why you act a certain way.

  • Being able to admit that to yourself and structure your life and your business around it, taking your both flaws and your strength into consideration, is the best thing you can do.

[0:28:34] The Importance of Asking the Right Questions in Goal Setting

[0:36:00] Parenting and Instilling Values: Balancing Motivation and Fear

[0:39:38] Parenting and Work Ethic

[0:43:16]  Overcoming Procrastination and Setting Achievable Goals

[0:47:28] The Game of Diminishing Returns in Marketing Strategies

[0:52:10] The Value of Attention in Online Business

[0:54:02] Exploring the Impact of Attention Currency and Marketing Tactics on Consumer Behavior

[0:56:14] Discussion on the Potential of Chat GPT and Marketing Strategies

[0:58:18] Discussion on the Future of Marketing and the Importance of Staying Ahead of Trends

[1:03:39] A Discussion on Marketing Strategies and Success with Strategic Profits

[1:09:48] Reflections on Missed Opportunities and Personal Growth in Business

[1:11:15] Understanding the Midlife Crisis: A Discussion on Psychological Stages, Mortality, and Finding Happiness

[1:13:28] A Conversation on Unresolved Issues and Finding Meaning in Life

Connect with Rich Schefren:



Igor Kheifets is an amazon best-selling author of the List Building Lifestyle: Confessions of an Email Millionaire.

He’s also the host of List Building Lifestyle, the podcast for anyone who wants to make more money and have more freedom by leveraging the power of an email list

He’s widely referred to as the go-to authority on building large responsive email lists in record time.

Igor’s passionate about showing people how to live the List Building Lifestyle.