The $100 MBA Show

Latest Episodes:

MBA1267 Why You Need To Keep Changing Your Friends + Free Ride Friday! May 17, 2019

Show notes

The company you keep affects the company you want to build.

Your friends make a difference. Before you balk at the title, this episode isn’t about growing a cold heart and forgetting about the people closest to you. It’s about making sure that the circles you spend your time in propel you forward, rather than hold you back.

Today, we’ll explain just how powerful the influence of your social circle is on your business success. As your business develops, so too should your social network widen — which means leaving some circles behind as you move towards your goals.

When you don’t make new friends along the way, you will stagnate. Tune in, and find out how to make the friends you need to keep progressing. Click Play!

EasyCourse

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MBA1266 Should You Be Using a Chat Bot on Your Site? May 16, 2019

Show notes

Whether it’s marketing, sales, onboarding, or support, communication is key. Enter the chatbot, considered by many to be a communications shortcut for your website.

They’re ubiquitous now: those little bottom-right corner bubbles that offer to answer questions and otherwise help a visitor along their journey. Thing is, they’re not human. They’re AI, with varying levels of sophistication — and varying levels of usefulness.

Are they really that helpful? Or are they the online equivalent of those annoying automated phone menus that just tick people off when all they want to do is talk to a human being?

Today, we discuss the benefits — and limitations — of chatbots. We’ll explain how they can supplement (but not really replace) actual human customer service. Properly utilized, a good chatbot can take the load of your service team, and ultimately make them more effective.

Plus, we’ll make some specific recommendations as to software we like. Make sure your website’s chatbot is helpful, not annoying. Click Play!

Intercom

RightMessage

Drift

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MBA1265 Q&A Wednesday: What have been your biggest regrets in business? May 15, 2019

Show notes

“I wish I had done that differently.”

It’s a phrase any entrepreneur with any real experience has thought, or said, more than once. Independent business is all about screwing up, learning from it, and applying the lesson. Here at the $100 MBA, we are no exception.

It’s Q&A Wednesday, and one listener wants to know what our biggest regrets are from over 18 years in business. Most of those regrets — unsurprisingly — come from the early years. Perhaps more surprisingly, we don’t regret things we did, or even things we didn’t do.

We regret the things we didn’t do sooner.

Tune in, and learn what we would’ve started sooner, if we’d known any better. If you’re just getting started, see what you can take from our regrettable late starts. It just might inspire you to move more quickly than we did. Click Play!

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

Watch the episodes on YouTube: https://lm.fm/GgRPPHi

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MBA1264 5 Takeaways From MicroConf 2019 May 14, 2019

Show notes

Conferences are always opportunities. Mostly to network, but often, to learn. MicroConf, the annual conference for small (mostly software) businesses, lived up to the potential.

Our intrepid host Omar made the trip to Sin City for MicroConf 2019, and he picked up some seriously valuable lessons. He was invited as a speaker, but couldn’t pass up the opportunity to attend the other presentations as well.

Today, he shares the most important things he learned.

Some of these lessons came from personal interactions with other presenters. Some came from the presentations. From an almost literal mountain of notes, we’ve boiled the whole experience down to 5 key takeaways, the “a-ha’s” that struck Omar hardest.

It’s one of the best conferences we here at the $100 MBA have ever attended. Hear what we picked up, and add it to your knowledge base. Click Play!

MicroConf

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MBA1263 Guest Teacher: Ken Coleman – How to Use the Proximity Principle to go from Day Job to Dream Job May 13, 2019

Show notes

The career you want is closer than you think. It’s only as far away as the right people.

Today’s special guest teacher, Ken Coleman, believes that proximity is the key to moving forward. Whether you’re transitioning from side hustle to full-time entrepreneurship, or just getting into business for yourself, proximity is everything.

Find the right people, and you’ll effect real change.

So many people talk about getting into business for themselves full-time. Going from “talk” to “walk” is all about making the connections that’ll spur your growth. Coleman, a renowned author and podcaster, is here to share the details.

He’ll explain how to actually make the first few moves that lead to real-life progress. By positioning yourself correctly, you can do the things that most people only talk about. You can get over the scary part, and head down the path of independence — even if you’re not sure exactly where it leads.

Find out what (and who) to surround yourself with. Take it from a master in the art of actually doing the things so many people wish they could. Click Play!

Ken Coleman

The Ken Coleman Show

EntreLeadership Podcast

The Proximity Principle by Ken Coleman

One Question by Ken Coleman

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MBA1262 Is it OK to Lower Your Prices? + Free Ride Friday! May 10, 2019

Show notes

Every business owner would love to get more money for each unit they sell. Raising your prices is understood to be a natural part of growth as the years go by. But what about lowering them? Is it ever appropriate?

Is it ever smart?

It’s easy to assume that lowering prices sends a bad signal, or represents a step backwards. But we’ve seen companies that strategically lowered their prices in ways that added to the overall value of the business. There is a right time to do it — you just have to recognize it.

Today, we’ll explain how to determine if your prices are in need of a trim, and if doing so would be wise. We’ll discuss how to experiment with price changes in a way that’s low-risk, plus point out some examples of when not to lower them.

It’s a counterintuitive strategy, but it might just work for you. Click Play!

EasyCourse

Wistia

WebinarNinja

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MBA1261 Should You Work When on Vacation? May 09, 2019

Show notes

Entrepreneurship is a full-time gig. But is it so full-time that you can never truly be on vacation? Are independent business people doomed to stay forever connected to the company, no matter where they escape to?

Yes and no.

Today, we discuss whether it’s truly feasible to walk away from your baby for a week or more. Especially in the early years, it can be terrifying to take your hands off the steering wheel for too long. It can also be bad for business, if you don’t plan your breaks strategically.

We explain how to balance the need to stay on top of things while still taking the opportunity to recharge. By scheduling your own R&R wisely, you can reach the closest thing to “autopilot” entrepreneurship has to offer. We’ve learned how to do it from years of mixing travel, business, and fun. Learn how it’s done — Click Play!

MBA 880: The Working While Traveling Experiment

MBA1197: Dealing With Email While Traveling

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MBA1260 Q&A Wednesday: How do I come up with a topic for my first webinar? May 08, 2019

Show notes

You know webinars work to convert subscribers to customers. You have the tools and knowledge to conduct webinars. You’re almost ready.

You just don’t know what your first one will be about.

It’s a super-common question, and one we’re answering for today’s Q&A Wednesday. Hooking your audience with a topic that’ll pique serious interest is key to creating customers. Today, we share our step-by-step method for figuring out exactly what they’ll respond to.

In short, you’ll use your audience to give you the ideas you need to run with, rather than “coming up with” topics all on your own. As the founders of our own webinar software company, we’ve put together a reliable, surprisingly easy system for generating topics that will hit home.

It’s the advice we offer our own clients, summed up for you. Tune in, and get ready to have more great topic ideas than you’ll know what to do with. Click Play!

WebinarNinja

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

Watch the episodes on YouTube: https://lm.fm/GgRPPHi

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MBA1259 How Much to Pay Yourself When Starting a Business May 07, 2019

Show notes

What are you worth to your company?

When creating a business plan, new entrepreneurs often forget to budget for one extremely important item: their own salary. Thing is, your personal financial health is just as important to your business as any other factor — especially if you’re pursuing entrepreneurship full-time.

You can’t short yourself, but you can’t short your business either. Today, we share our formula for determining the right number for your company. You can strike a healthy balance between your needs and your business budget, even if you have to adjust the former for the sake of the latter.

It’s an extremely important decision, one that deserves some extra thought. Click Play!

Watch the episodes on YouTube: https://lm.fm/GgRPPHi

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MBA1258 Must Read: The Five Most Important Questions You Will Ever Ask About Your Organization by Peter Drucker May 06, 2019

Show notes

There’s no substitute for experience. Fortunately, experience can be shared.

Peter Drucker had a long, legendary career in business. One of the earliest professional business management experts, Drucker literally wrote the book(s) on how to frankly assess your company.

Today, we take a look at his classic, The Five Most Important Questions You Will Ever Ask About Your Organization. We’ll explain each of these vital questions, the answers to which will show you the best way to grow, improve, and move your business forward.

It’s super practical, brass-tacks advice that’s as true in the 21st century as it was in the 20th. Tune in as we interpret the five questions in a modern business context. Learn how to take real stock of what your business has, and what it needs. Click Play!

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