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MBA1537 4 Essential Purchases When Starting a Business + Free Ride Friday May 29, 2020

Show notes

Digital or physical, online or brick & mortar, every business needs a few things at the start.

These are the non-negotiables, the 4 things that every single business can’t really function and thrive without. These are your first investments, literally the cost of doing business when you’re first getting started. This is where to spend your capital!

Get these things covered, and don’t waste money on non-essentials (until you’re profiting).

Today, we’ll list the 4 must-haves, and explain why they’re so fundamentally necessary. We’ll also discuss a few things you don’t need, but that far too many new entrepreneurs waste resources on.

Invest wisely, and put your business on a firm footing from Day One.

Remember — for small business, debt is rarely your friend. That’s why it’s so important to put profit first. By focusing on the bare essentials early on, you can establish a healthy bottom line to grow from. Click Play!

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MBA1536 How To Build Your Network Despite a Pandemic May 28, 2020

Show notes

Being stuck in lockdown doesn’t have to stop you from networking.

Even though we can’t go to conferences and the like, networking is still possible — and it’s still incredibly important. It’s one of the most powerful methods for building your business, one that’s worth an intentional investment of time and effort, pandemics be damned.

So how can you network from home?

Today, we’ll lay out a specific, step-by-step plan for making and nurturing the most important connections. It’s a little something we learned from a friend and fellow podcaster whose networking know-how has been truly game-changing for him, and us.

Don’t let the current situation stop you from building your business. Adjust, adapt, and use our networking plan to make yourself a known quantity in all the right circles. Click Play!

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MBA1535 Q&A Wednesdays: Should I raise my prices during a pandemic? May 27, 2020

Show notes

Price hikes can be scary. Will you turn customers off? Will people feel betrayed or surprised — especially during a global crisis?

It’s Q&A Wednesday, and we’ve got one listener who can’t get his business in the black without some fresh revenue. With no room for paid ads in the budget, and the lockdown depressing business generally, it seems like bumping up prices is the only option.

Or is it?

Today, we’ll discuss a few ways to create revenue that don’t involve price hikes. These revenue-raising strategies might be just the solution you need to get your business through COVID-19. When it’s time to balance the books, there are always options.

That said…

We’ll also discuss how to raise prices, when it’s appropriate to do so. Raising prices doesn’t have to be the end of the world, especially when you have well-served customers whose loyalty you’ve earned. Remember: a small increase doesn’t hit individual customers too hard — but it can make all the difference for you.

Tune in, learn what you can do besides raising prices, and how to raise prices in a way that won’t hurt the good will you’ve built up. Click Play!

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

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Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MBA1534 4 Big Opportunities in 2020 May 26, 2020

Show notes

This year isn’t all bad.

I mean, it’s bad. It’s awful. But if every crisis presents opportunities, the Year of COVID is no exception. Through pandemics, murder hornets, and whatever fate dreams up next, success comes to those who adapt the quickest.

So how can you navigate the new normal in a way that grows your business?

Today, we’ll discuss 4 specific ways you can lean into the new reality, and come out of 2020 stronger than when you went in. Some are easier than others, but all are doable, and all can radically change the game for you and your business.

Meet the crisis head on, adapt, and remember that what you can’t control isn’t the only factor. Click Play!

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Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MBA1533 Guest Teacher – Rich Allen – How to Explain How Your Business Works Using a Bike May 25, 2020

Show notes

Communication is everything when you’re leading a team. So how can you better explain why everyone’s work matters?

With a bicycle.

Rich Allen is an entrepreneur, writer, speaker, and consultant whose success in small business has a lot to do with great team management. His bike analogy is the centerpiece of a results-driven approach that lets every employee know where they fit into the bigger picture.

In other words, a bike is more than the sum of its parts – and so is your business.

Today, Rich is here to go into detail about the bike, and how you can use this powerful analogy to get the most from your team. Ditch the “my job” mindset and cultivate what Rich calls “radical engagement.”

Sometimes, it all starts with a better way of explaining things. Click Play!

Tour de Profit Free Resources

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MBA1532 Google vs. Facebook Ads + Free Ride Friday May 22, 2020

Show notes

Digital advertising is suddenly a lot cheaper. But it’s no less confusing.

When you’re deciding how and where to spend your advertising budget, it’s important to have a clear strategy. What are your priorities? One of the first, most fundamental decisions you have to make is to choose between the two super-powerhouses of online ads: Facebook and Google.

You definitely need one or the other, or both. But which one do you need more, right now?

Today, we’ll discuss the advantages and limitations of both options, so you can choose the right one for your next campaign. Neither is “better” inherently — but one is better for your business and its current needs. We’ll discuss how each option reaches people, what objectives each option is best at achieving, and how to decide between them.

We’ll also outline simple experiments you can conduct to see which option will get you the best results. Now is a great time to buy online ad space — if you have a solid plan. Click Play!

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Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MBA1531 2020’s 5 Most Common Online Business Mistakes May 21, 2020

Show notes

Just getting started? Here’s what not to do.

So far this year, we’ve seen various businesses make some of the same blunders. The mistakes aren’t just holding people back; they’re a mortal threat to any company trying to get off the ground. These are potentially devastating mistakes that negate all the hard work people put into their independent success.

So let’s do something about it.

Today, we’ll review some of the super-common, super-deadly missteps that plague new businesses. Just as often, they’re positive things we’re neglecting to do, as opposed to active screwups. But the results are the same: time, effort, and resources down the drain.

Tune in, and see if you’re making any of these mistakes. If so, it might just be the change you need to see real progress. Click Play!

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MBA1530 Q&A Wednesdays: So many things to improve in my business. Which one first? May 20, 2020

Show notes

Analysis Paralysis: it’s that frozen feeling you get when there’s so much to do, you can’t do any of it.

Sometimes, just knowing where to start is the first challenge, and the key that unlocks all your forward progress. When your business has multiple areas in need of help, what’s the priority? What takes precedence when everything seems important?

How can you be sure?

It’s Q&A Wednesday, and we’ve got a listener who just doesn’t know where to begin. He wants to take action, but for every problem he tackles, others go un-tackled in the meantime.

Today, we’ll help put it all in order.

There’s a single question you can ask yourself to make a valid decision about what needs your attention most, and soonest. Once you ask it, you won’t only have a place to start, you’ll have the confidence to proceed with less anxiety about everything else — all of which you’ll get to in due time.

Businesses are many-headed hydras, and entrepreneurship is a never-ending game of problem solving. By embracing the challenge, anyone can look at a laundry list of problems, improvements, and fixes with a calm and proactive approach.

You just have to get started. Click Play!

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

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Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MBA1529 When Should You Hire A Bookkeeper? May 19, 2020

Show notes

There’s only so much time and money. A bookkeeper can save you tons of both.

Today, we’ll explain exactly what a bookkeeper does, and why one is so vital to your business after a certain point. Different from a full-blown accountant, a bookkeeper helps you handle what no one should tackle solo — that is, once your business reaches a certain volume.

We’ll explain how to recognize that volume, and know when it’s finally time to get help.

Certain metrics will tell you that it’s time to hand the books to an outside pro. If you wait too long, you risk creating a mess that’s harder and more costly to straighten up — like we did.

As Omar can personally testify, the time and money you save with a bookkeeper is worth much more than you’ll pay for one. Find out what books that need professional keeping look like. Be proactive, and you won’t regret it. Click Play!

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MBA1528 Guest Teacher – Oli Bridge – How to Build Video Funnels for Your Business May 18, 2020

Show notes

How powerful is video? As a medium, it’s quickly gone from a marketing “maybe” to a “must.”

Video can’t replace written content for every purpose, but used strategically (and created efficiently), a little video can be a huge differentiator. Oli Bridge specializes in using video content in ways you might not have considered — for results that might surprise you.

Today, Oli stops by the podcast to explain his system.

By using video in places most marketers don’t, you can cut through the noise and stand out among the countless others clogging up customers’ inboxes. By using it in a highly personalized way, you can turn regular customers into long-term “superfans” who drive new business.

It works, because science.

Hear Oli explain the psychology behind video’s extraordinary effectiveness. Once you understand the conversion potential, the time and effort required to produce videos (even short ones) will seem like a very wise investment. Click Play!

Bonjoro Video Funnel Playbook

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