≡ Menu

Profit Hacks Review – Is It The Missing Piece In Your Success?

Profit Hacks is the latest course promoted by Rich Schefren and Strategic Profits and contains the ideas of the Australian entrepreneur, Pete Williams.

I’d love to say that my Profit Hacks review is independent but I’m an affiliate. I’m in this for the money so if you buy after clicking through from my links, I’ll earn a commission.

Details of Profit Hacks – affiliate link

In fact I’m such a good affiliate for Rich Schefren that I’ve been given free access to Profit Hacks to take a look around.

I’ve earn my success by writing reviews that are as honest as I can make them, that highlight the good and the bad in the product being reviewed and that make it clear that the product isn’t right for everybody.

Let’s begin.

The Profit Hacks Review

Just like all the other big launches, Profit Hacks is being promoted as the solution to the one big thing that’s holding you back.

If that sounds cynical, I think you need to be when you’re caught up in these product launches. Not everything is as it claims. If it was, you’d have already made your fortune from the courses that you’ve bought in the past.

Rich Schefren has admitted this problem in many of his launches.

Executive Summary Of The Profit Hacks Review

I believe Profit Hacks is a unique course designed for Internet marketers although some of its contents has been covered elsewhere.

The objective is to help you to get maximum results in the minimum time.

Profit Hacks is not a time planning and control training course.

It is about how you do what you need to do to succeed as an Information marketer on the Internet. It’s a course about making you more productive, efficient and effective.

It’s very unusual as it has been designed for you to prioritise and do the training that will have most benefit for you first. If something isn’t important, skip it. After module 1 and the triage process, you are encouraged to start where you need to start.

It’s not for everybody and further down the review, I spell out who I don’t think will benefit.

It is a course that will do a lot of people a lot of good.

Either:

  • You’ll save time doing the things you already do because you’ve been shown a faster, more efficient way of doing it; or
    .
  • You’ll find the time and enthusiasm to do things that you know you should be doing but you’ve never got around to doing.

I think you’ll do both.

I recommend Profit Hacks provided you are not in one of the categories for who shouldn’t buy it.

Profit Hacks – affiliate link

How Profit Hacks Fits With The Other Rich Schefren Courses

His Business Growth System launch told you to stop being an opportunity seeker, chasing every shiny bright object that had big promises and to build a business based on having a clear strategic vision.

His Guided Profit System launch told you that  you need to focus on your constraints and learn a new way of thinking that helps you to identify them so that you can take action.

Both of those ideas are very true and that’s why Rich Schefren has such a great reputation as the leading Internet marketing guru in the true sense of the word.

Profit Hacks has a similar promise and in some ways can be considered the third leg of the stool.

Profit Hacks is all about helping you to leverage your time and skills much more effectively.

This is a gross simplification but you can think of it as:

  1. The Business Growth System helps you to focus on the right idea (it’s much more comprehensive than that and in my view is an outstanding course which Rich Schefren is rightly proud of and members still get weekly access to Q&A sessions with him).
    .
  2. The Guided Profit System takes some of the ideas introduced in one of the modules of the Business Growth System much further  and gives you an entirely new way to think clearly about the issues that face your business.
    .
  3. His monthly Founders Club gives you many of the tactics you need to build a successful Internet business as well as access to his latest ideas.
    .
  4. Profit Hacks is the program that digs much deeper into how you do what you need to do to succeed.

You see, learning is good. I’m a coach, I love learning and I love helping other people learn.

Thinking is very important and really quite rare. People have a nasty habit of deciding to do what other people do and that’s generally bad news.

Learning and thinking will get you so far but action is the key.

It’s only through purposeful and effective action that you’ll achieve the success you want.

If it’s necessary, it needs to be done, efficiently and effectively but not necessarily by you.

That’s why Profit Hacks is so important.

Its focus is on efficient and effective action – the result should be getting much more out of the time you choose to spend working on and in your business, and provided that action is well directed, you should be much more successful.

The Profit Hacks Coaching Website

To get value out of a course, you need to a) consume the training and b) change your actions.

Consumption must not be assumed. I suspect that everyone has bought an expensive course and never worked through it. I know I have and it’s one of the big problems I have with launch bonuses.

An attractive and intuitive website design can certainly reduce the strain on learning and so too can presenting the information in different formats.

Some people like watching videos, other people hate them and prefer listening because they can do that away from the PC screen (or iPad etc). Others prefer to read.

Profit Hacks presents its information by video with a downloadable mp3 option. There isn’t a transcript available (yet?) for those who much prefer reading. There are various pdf guides within the course.

The website looks great as this screen capture shows.

Profit hacks screen

 

There’s a short welcome video to the Profit Hacks system with Pete Williams and Rich Schefren which explains how to get the best out of this course – you must watch this or you will waste time.

It also contains an appeal that goes along the lines of “what else do you need to know?” Incredibly Profit Hacks is going to be a developing course based on what its clients need so more training materials will be added using the Profit Hacks methodology. This has already happened with the first trial group of Profit Hacks users and it will continue with this first big launch but it won’t happen indefinitely.

The Profit Hacks Modules

  • The Key Principles Of Leverage
    .
  • Workflow / Time Hacks
    .
  • Core Content Creation
    .
  • Content Syndication
    .
  • Leveraging Business Assets
    .
  • Resources

The key principle of Profit Hacks is leverage, doing more with less effort.

You see this principle in physics every day and you can test it yourself by seeing the difference when you push to close a door close to the hinges and then again far from the hinges. The second way is much easier.

Module 1 starts with a Triage video.

This is a very short video but it helps you to determine how you will use the Profit Hacks ideas for your own particular working needs. Unlike other courses that need you to go from A to Z in order, you use the training in Profit Hacks when you need it and you skip the bits that you don’t.

In the video, Pete Williams guides you through the triage process.

If you’re not sure what triage is, it’s used in emergency wards in hospitals for deciding who should be treated and for what based on critical need. Those doctors and nurses face life and death decisions – this person will die if not treated in two hours, this person will die if not treated in 12 hours, this person won’t die but is in terrible pain that can be relieved in a few minutes with a morphine injection, this person is uncomfortable but can be safely left unattended until things quieten down.

Fortunately your decisions aren’t that tough.

You need to find your critical needs and use Profit Hacks to fix them. When you’re in control, you can drop down to the next level of need until you reach the point where any benefits are minor.

The basic idea is to minimise the time to get the maximum results.

Isn’t that a powerful idea?

You must do the triage worksheet. It’s a one page questionnaire with key questions for each of the modules and you grade your current performance. There’s also guidance on how to select your top priorities.

If you’re the type of person who doesn’t get actively involved in the training products, don’t buy Profit Hacks. You’ll waste your money unless you change your approach.

Be honest with yourself. If you can’t do that, you’ve got problems this course can’t solve.

I did the assessment and I didn’t do very well. There were many areas that I could and should be doing more.

Serious illness has caused me to lose my way. One of the symptoms I have to deal with is chronic fatigue and I’ve come to realise that, if my working time is limited, I need to be even more efficient and effective with the time I can work.

Obvious but I’ve become much less focused on the use of my time rather than more because I’ve fallen into the sloppy habit of doing what I feel up to doing. That’s going to change.

It’s a tough assessment but it does make you think and appreciate how much more you could and should do. In a way it’s a bit frightening.

Profit Hacks Module 2

This first main module of Profit Hacks is about leveraging your time.

It’s split into four sections:

  1. Market Leadership Activities – which looks at how you keep track of what’s happening in your market including videos on Google Reader, Google Alerts and Forums.
    .
  2. Information Consumption – all of us need to keep up-to-date with the latest ideas and best practices if we want our customers and clients to be regarded as experts. I know Rich Schefren reads a huge number of books so consumption can’t stop, even when you’ve built a worldwide reputation. These Profit Hacks videos look at how to get maximum results from your learning time and it makes sense to pay attention to some of these videos early in the course as it will help you to take best advantage of the ideas in the Profit Hacks course.
    .
  3. Capturing Information – processing information is important but no one can remember everything so these videos help you to make the great ideas you find easily accessible to you in the future.
    .
  4. Keeping in contact – this is a reminder that relationships matter and conversations matter. I think this is the paradox of social media (note to self – good title for a blog Paul)

Profit Hacks Module 3

This module looks at how you can best take your ideas and turn them into content in multiple formats.

This is a topic I definitely need to improve at. I love writing but I could be quickly taking the same content and creating videos and podcasts.

This module is again in four sections:

  1. Producing video – it covers the basics, getting the sound right and the two forms of screencasts and face to camera (scary) videos. I have a bit of a phobia about videos and before Profit Hacks, I think I can say that I reversed the mantra – maximum time for minimum results.
    .
  2. Interviewing for content creation – I’ve done this and it’s a great way of getting valuable content and incredibly easy. It’s fun too and helps you to build relationships with some big names.
    .
  3. Sources for core content ideas – I don’t normally struggle for ideas but I know from talking to clients, it can be tough. The Profit hacks course gives you various ways for you to find new topics.
    .
  4. Writing tips and tricks – I find it easy but many people freeze when faced with a blank Word document. Often they have great ideas and are good talkers but the idea of writing freaks them out. The Profits Hacks modules cover how these problems can be solved.

Profit Hacks Module 4

This module looks at how you can syndicate your content for maximum results and profit.

It has three main sections:

  1. Content syndication workflow – there are quite a few videos promised in this area that haven’t yet been published. Remember I said at the beginning that Profit Hacks is a developing course based on user feedback about what people need? Well here is the proof.
    .
  2. Offline syndication – such an important area to reach potential customers who don’t search the Internet. This is a hot topic of mind that I encourage clients to do but I’m guilty. I really haven’t done enough of it myself.
    .
  3. Syndication for income – this looks at publishing on Amazon, Kindle, Sony etc.

Profit Hacks Module 5

This module is all about outsourcing and getting the most from your team.

I’m really bad at this and have a big mental block. I know this area is holding me back but ever since I’ve ben self employed, I’ve tried to minimise the issues of managing other people. The strange thing is I’m pretty good at it but I prefer to maintain total control.

The sections in this module are:

  1. Outsourcing
    .
  2. Work Wiki Creation
    .
  3. Wireframing & Communication
    .
  4. Lists

Profit Hacks Module 6

This isn’t another module but a list of recommended resources to help improve your productivity.

Some of it may be controversial and it will involve you spending money but if it saves enough time, you’ll get a quick payback.

What Profit Hacks Is Not

Profit Hacks is not a time management course which normally talk about how you plan and control the use of your time.

It is a time doing course.

It tells you the quickest and most effective ways to get various things done. It jumps you up the learning curve.

If you do something once, it takes a long time. If you do it again, and you can remember some of what you learnt, you do it faster. In fact every time you do it, you do it a little faster as your experience improves.

In fact there is a theory about this called the experience curve. Every time you double the number of times you’ve done something (your experience), you can improve how well or usually how quickly you do something by 20 – 30% provided you’re continually asking yourself the right questions.

Profit Hacks is your short cut to gaining that experience.

Who Shouldn’t Buy Profit Hacks?

I promised at the very beginning I’d say who I didn’t think should buy Profit Hacks so let’s deliver on that promise.

  1. People who regularly buy but don’t consume courses or don’t take the recommended actions.
    .
    The irony is that Profit Hacks is probably just what is needed since module 2 looks at content consumption but if they don’t consume, they won’t get the benefits of the tips.
    .
  2. People who are looking for a magic pill.
    .
    Although Profit Hacks is very good, it’s not a miracle worker. Its goal is to help you to take more effective and efficient action but you’ve still got to think and do. It works by helping you to identify ways to change your working practices. If you’re not prepared to change
    .
  3. If you don’t have the money.
    .
    Profit Hacks has the opportunity to payback your money hundreds of times by helping you to get much more done in less time over the next five years. But it’s not essential.
    .
    Christmas is coming up and if you need to spend money on your family, do it.
    .
    I recommend that you use the basic ideas that Rich Schefren reveals in the pre-launch promotions and think about how you work. You won’t get the maximum benefits and shortcuts but if you think about how you work and how you can make it better, you’ll see some good improvements.
    .
  4. Profit Hacks isn’t for all Internet marketers, let alone all small business owners.
    .
    There’s content in the course that can be of benefit to any business owner or manager but its target audience is information marketers – those people who either sell information products or use information to establish their expertise to sell coaching, consulting, speaking, training etc.
    .
  5. Do you think the idea of improving your productivity is too boring?
    .
    The Profit Hacks course doesn’t have the glamour of a marketing course about the latest whiz-bang technology.
    .
    There are plenty of people who joke “I don’t have time to do a time management course.” This is a time doing rather than a time planning and control course but the idea still applies. If you don’t think it’s essential to get more from your time, you won’t have the discipline to go through the parts of the course that can help you most.
    .
    As a marketer, you’ll know the difference between needs and wants. You may need Profit Hacks but If you don’t want what it can do for you, it won’t work.

Who Should Buy Profit Hacks?

If you haven’t been ruled out by the points listed in the “who shouldn’t buy Profit Hacks section”, then you’re a prime candidate.

Let me ask you a few questions:

  • Do you want to improve the performance of your information based business?
    .
  • Do you wish you could get more done in the same or less time?
    .
  • Are you prepared to suspend any cynical beliefs about the value of training programs?

If you answered yes to all three, then Profit Hacks looks a wise decision in my opinion. I’m not aware of any courses that cover the same content areas.

Profit Hacks – affiliate link

If you didn’t answer Yes to all three, I recommend that you read an old article I wrote on my Business Coaching blog – Your Primary Aim & Finding Your Work / Life Balance

How To Buy Profit Hacks

Profit Hacks is now available to buy (November 13th, 2012)

Profit Hacks – affiliate link

It has gone through a process called a product launch which introduces people to the ideas behind the course.

It’s a bit like a movie launch really.

You see the promotional videos and the interviews with the stars and you can’t wait to see it when it comes out.

Well it’s out but it might not be around for very long.

Often product launches have this big build up, the product can be bought for one or two weeks and then it is taken off the market for some months before being launched again. Other times, a product has a big launch and then stays available to buy as an evergreen product.

Hopefully this is what will happen with Profit Hacks although it may go off the market while this big group of clients is taken through the process.

Profit Hacks – affiliate link

To confuse things slightly, when a launch goes live, much of the pre-launch content is taken away so you may find that various links don’t take you to where you think. This is the nature of the beast and it’s very difficult for an affiliate like me to be completely up-to-date with what happens.

At the moment, I recommend that you start consuming the launch content.

In the end, only you can decide if Profit Hacks is right for you.

Profit Prophesy Report – the first Rich Schefren report for public consumption since September 2008.

Mind Virus Video – Rich builds on the idea from the report and looks at what holds back the majority of Internet marketers.

Those are affiliate links and if you click through and buy, I may earn a commission.

Have You Bought Profit Hacks?

If you’ve worked through Profit Hacks, I’d love to know what you think.

Has it helped you to become much more efficient?

Has it encouraged you to do things that you’d put off because you thought it would take too much time to do?

Please let me know by leaving a comment.

Alternatively, have you found the free reports and promotional videos helpful? Have they made you think through what you do?

I’d also like to know if you’ve found my Profit Hacks review helpful in deciding whether to buy the course. Please click on the rating below – I’d love 5 stars because this took a lot of time to write and I hope you appreciate that I’m not hyping Profit Hacks to be the solution to every problem.

Other Rich Schefren Products

Get To Know Me

[sos]

[6Steps]

Similar Posts:

 Name: Email: We respect your email privacy 
{ 0 comments… add one }

Leave a Comment