James Schramko Podcast 1122 – How I Helped My Partners Earn $19M+ From Performance Deals
May 21, 2025
Explore the world of performance-based pay and its potential to generate millions. Discover how strategic partnerships, trust, and careful selection can transform client relationships. Learn about common misconceptions and the importance of due diligence in forming effective deals. Hear practical advice on testing partnerships through affiliate promotions to ensure value creation. Uncover the keys to navigating performance deals for sustainable income and long-term success.
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Grandfather's Timber Broker Legacy
- James Schramko learned about performance-based pay from his grandfather, a timber broker earning 3% per deal without hourly billing.
- This experience showed him the power of clear outcome-based compensation over traditional fees.
Early Sales Career Lessons
- From 1995 to 2001, James lived on performance deals with minimal base pay, which taught him to back himself and choose partners wisely.
- This sales environment shaped his risk-reward mindset for future advisory roles.
Performance Pay Isn't a Red Flag
- The idea that performance-based deals are a red flag is often due to ignorance; many top professionals use them successfully.
- Examples include lawyers working on no win, no fee bases, demonstrating performance pay’s wider acceptance.