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MBA1833 Must Read: Simple Numbers by Greg Crabtree Jul 19, 2021

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Do you hate dealing with numbers?

If your eyes glaze over when you think about accounting, today’s Must-Read is definitely for you. Simple Numbers is exactly what the title implies: a no-nonsense, straightforward guide to dealing with your business finances.

It’s one of the most valuable books we’ve ever reviewed, especially for people who just don’t enjoy the math of entrepreneurship.

Today, Omar explains why this book made such a big impact, and why he thinks pretty much every business founder needs to read it. Learn how to deal with the numbers comfortably and confidently, focus on what really matters, and grow your business in the most stable way possible.

Simple Numbers by Greg Crabtree

Discover all our must-read book reviews at https://100mba.net/bookreviews.

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MBA1832 Small Changes to Stand Out From The Competition + Free Ride Friday Jul 16, 2021

Show notes

Sometimes, standing out is subtle.

You might think you have to be radically different. But more often, just being different enough is the best recipe for success. By focusing on some little things, some small but impactful zigs when others zag, you can beat the competition.

The key is to play your own game, rather than your competitors’.

Today, we discuss a few specific things you can zoom in on to truly differentiate your brand. We’ll discuss how people get “niching” wrong, and what you can do almost immediately to find your own voice, your own audience, your own success.

Learn the big difference a small difference can make. Click Play!

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MBA1831 How To Keep Your Product Fresh Every Year Jul 15, 2021

Show notes

In business, you evolve or die.

You can’t rest on your laurels. You can’t let your product and marketing be the same quarter after quarter, year after year. But sometimes, it can be hard to know what’s next. What’s the next update? The next big (or small) news?

Today, we create a plan.

Tune in, and learn how to systematize your business evolution. By plotting out your updates, you can craft a coordinated approach to innovating, communicating, and growing at a steady clip.

Never get behind! With a good system in place, you can stay ahead of one thing that can kill any business: stagnation. Click Play!

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MBA1830 Q&A Wednesday: I hate customer support. Should I hire a support manager? Jul 14, 2021

Show notes

What do you love least about your business?

More importantly, why?

It’s Q&A Wednesday, and we’re helping one listener decide what to do about Customer Support. Thing is, this entrepreneur just “hates” it. But before we choose a course of action, we have to understand the real root of the problem.

Plus, is it smart to pay someone else for work you can do? Is it not “lean” enough for a startup to make unnecessary hires?

We explore all the ins and outs of this intriguing problem. We’ll discuss how to decide whether you really need to delegate something, and if so, how to go about it. It could be that making a hire is the best thing for this business owner. Then again, maybe not.

Learn from this listener’s dilemma, and our experience with similar situations. Click Play!

To submit your questions, visit 100mba.net/q.

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MBA1829 Why Do Payments Fail? Jul 13, 2021

Show notes

If you run an online business, it’ll definitely happen. Sometimes, your customers’ credit cards will be declined.

But it’s probably not for the reason you think.

Insufficient funds actually account for only a minority of credit card rejections. There are other reasons, some of which you might not suspect. More importantly, some of these reasons are things you can prevent or fix!

Today, we list the most common reasons cards get declined, and explain what you can do about it.

Don’t lose customers unnecessarily! Make sure that you’re doing everything you can to avoid “involuntary churn,” and keep the customers who want to keep you in their life. Click Play!

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MBA1828 Guest Teacher – Steph Clarke – How to Get the Most Value From the Books You Read Jul 12, 2021

Show notes

Books are the greatest investment you can make in yourself.

We’ve always maintained that — it’s why we host regular “Must Read” book review episodes. That’s why it’s so exciting to have Steph Clarke, bookworm par excellence on the show! The host of the Steph’s Business Bookshelf Podcast, Steph knows a thing or two (or 4) about maximizing every minute you spend reading.

Today, Steph is here with strategies for really digging into the books you choose.

By taking an active approach to learning from your books, you can absorb and retain more from every page. Steph is here with 4 specific tips for reading more, reading more actively, and letting books actually change your life.

For entrepreneurs, reading is more than just looking at words on a page. It’s an engaged process that brings real-world results. Click Play!

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MBA1827 Why You Should Work On Your Pitch Even If You’re Self Funded + Free Ride Friday Jul 09, 2021

Show notes

Always be ready to pitch.

Don’t need investors? That doesn’t mean you don’t need a solid, succinct pitch. Our own company is 100% self-funded, and Omar pitches all the time. Why? Because your pitch is for a million super-important things — not just investment.

Today, we explain why.

We’ll discuss all the ways a great pitch helps you become a better leader and ambassador for your brand. It’s an exercise like any other: if you do it consistently, it will make you stronger.

Learn why to pitch, how to pitch, and hear how we developed ours. Click Play!

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MBA1826 How to Deal With a Sudden Loss of Revenue Jul 08, 2021

Show notes

Sudden revenue loss is not uncommon. In entrepreneurship, it’s almost inevitable.

Situations change. The big players (think Google, Amazon, etc.) change the rules or algorithms you built your strategy around. Market cycles, pandemics, trends, and a host of other factors beyond your control can blindside your business.

It’s up to you how to respond.

Today, we discuss what can go wrong suddenly, and how to deal with it. Over years of running our own small businesses, we’ve been knocked off track way too many times. But each time, we figured it out — one way or another.

The lessons we learned the hard way can make your path forward a little easier. Tune in, and prepare for what you can’t predict. Click Play!

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MBA1825 Q&A Wednesday: Should I take a dividend or always reinvest in my business? Jul 07, 2021

Show notes

When is it ok to take some profit home?

It’s Q&A Wednesday, and we’ve got a listener with a small — but profitable — software business. It’s doing pretty well, which raises the question: how much can a founder keep, guilt-free? How much should be plowed right back into the business?

It’s a great problem to have, but a problem nonetheless.

Today, we discuss what you should think about when deciding how much to reinvest. Based on your business goals and structure, the ratio of money in and money out can change. We’ll explore the factors involved, and how to make the best call for you.

Plus, we’ll discuss the best ways to reinvest (if that’s what you decide to do).

Hopefully, this is a decision you’ll have to make in your own business, soon. Click Play!

Company of One by Paul Jarvis

To submit your questions, visit 100mba.net/q.

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MBA1824 Ecommerce Product Pricing 101 Jul 06, 2021

Show notes

e-Commerce is different.

The model is different. The math is different. So when it comes to figuring out your prices, you have to take what makes e-commerce special into account. Fortunately, Omar has some experience in that, having run a successful online clothing business.

Today, he shares the insights he discovered.

This is one of those “I wish I had known this when I started” episodes. From calculating overhead to understanding your market, e-commerce is a totally different animal from brick & mortar businesses or digital products.

Learn what factors you need to consider when setting your prices, and the most surprising thing Omar learned about what people are willing to pay. Click Play!

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