James Schramko Podcast

James Schramko Podcast


1068 - Reflections on Lessons Learned and Business Success

April 24, 2024

01:17 - To understand my business’s current state, let’s look a few years back…

02:59 - More than impressive revenue, actual profit reflects company success.

04:17 - One of the most important lessons I've learned in my entrepreneur journey is to avoid compromise.

07:43 - While business growth is good, I’ve grown to appreciate the benefits of having a smaller, less complex business.

09:39 - Since 2009, my focus has been building a reliable business model centered around recurring subscription memberships.

13:20 - Over the years, my business evolution has involved several significant changes, including selling two agencies.

14:56 - 2010 to 2020 saw several business decisions, including phasing out events and simplifying my membership offerings.

17:53 - In my business journey I’ve strategically reduced certain business activities and added others, such as rev share deals.

20:51 - Among my factors of success are personal well-being and family, distancing from the relentless hustle culture.

22:47 - I prefer keeping a low profile, sharing less about my personal life publicly, and focusing more on inner satisfaction.

24:09 - My business has maintained stable high-ticket memberships and a consistent revenue stream from various sources.

25:39 - I always consider the point behind business growth strategies, focusing only on actions that clearly align with my goals.

27:24 - Over time in the entrepreneurial journey, I've minimized my operational costs while ensuring a steady income.

29:03 - I aim to streamline my business to its simplest, most effective form, focusing on services and products that directly contribute to success.