James and Tim are back for the last part of their series about doubling your profit and reducing your work hours. In this episode, discover the formula for profit and learn how to get better conversions.

In the episode:

03:20 - Accent exercise
05:07 - A videoke dare
06:00 - A recap of the 2 steps to doubling your profit
07:28 - Today’s topic: Business
08:09 - What is the profit formula?
10:35 - How to get better conversions
18:03 - This is what you should be thinking about
19:20 - The big frequency winner
20:20 - Elements for retaining customers
21:07 - 3 main elements of a membership
22:41 - The reason people stay
25:07 - Salable assets
27:00 - Action step

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Tweetables:

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Transcription:

Tim: Welcome back listeners to another episode of Freedom Ocean. Me, I'm Timbo Reid, you, you’re James Schramko. How are you, Jimmy?

James: Doing really well. Thanks, Tim. How about you?

Tim: Good. This is a show, for those who have not tuned in before, about the Internet, about Internet marketing, really. So the show about Internet, that would be another podcast that I Iisten to called Reply All. That's a show about the Internet. That's their positioning line. But this show is about just Internet marketing and all those questions many of us have, which Jimmy James Schramko has all the answers.

James: We've had a lot of audience over the years. We sort of stretched this thing out, don't we? We broadcast infrequently but we make sure it's good value.

Tim: Quality mate, not quantity.

James: We're actually Part 3 now of a 3-part series. The dawn is come. The daylight's happened, and now we're going for the evening session on this one.

Tim: Yes. Feeling a little bit romantic, are you Jimmy?

James: Maybe, it must be watching the sunrise everyday. It's programmed in.

Tim: Does it to you. Well, that is good. You're telling me these 3-part series type approaches or series-type models of podcasting add a significant listener base because of, what did you call it?

James: FOMO.

Tim: FOMO.

James: Fear of missing out. So if you really want to get more traction on stuff, just say, part 1 of however many, like part 1 of 6, part 1 of 4. It implies that there will be future parts. So you can pick up a subscription. If someone joins after you've recorded them, it is tempting to want to listen to all of them, especially if you call back and you refer to future episodes.

So for example, we're going to introduce what Part 1 and