The $100 MBA Show

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MBA1137 4 Steps to Make Enough Passive Income For Your Personal Expenses + Free Ride Friday! Nov 16, 2018

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You want to start a business, but you’re terrified.

You’re terrified that you could find yourself unable to fund your basic needs like housing, food, and Netflix (ok, maybe that last one’s not technically a “need,” but still). Entrepreneurship is risky, and takes time, and you have to make a living while your business grows. So what can you do to keep a roof over your head while you pursue your own success?

Enter the “passive” income.

Yes, passive income is real. No, it’s not a way to earn money for doing nothing. It’s a smart, savvy way to fund your day-to-day life while making moves the conventionally employed can’t make. It allows you to focus on your life, not your living. It gives you the freedom to choose entrepreneurship, without ending up in a hole.

Find out how you can use the passive income strategy (along with some extra work and a little sacrifice) to keep yourself stable, wherever business takes you. Click Play!

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MBA1136 3 Steps to Make an Extra 20% in Sales This Month Nov 15, 2018

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Need a revenue boost? Look no further.

Today, we discuss 3 steps you can take today that’ll jazz your numbers up and get you through a slow month. These immediately applicable, effective steps can give you just the edge you need to see moderate growth within a few weeks. Some are simple, some more involved, but all can do the trick.

From unique promotional strategies, to outside-the-box marketing tactics, to subtle systemic tweaks, these tips help you squeeze a few dollars more from your existing resources. Using just what you’ve got, you can get a little further, climb a little higher, and set yourself up to grow steadily.

We use these tricks ourselves when our businesses need a shot in the arm. Hear how it’s done — Click Play!

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MBA1135 Q&A Wednesday: How Do I Stop Scammers From Abusing My Affiliate Program? Nov 14, 2018

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Affiliate marketing can be a powerful, positive tool for growth. But like many business opportunities, it can also create the conditions for some seriously shady misbehavior.

Don’t let the scammers win!

Today, we discuss 5 simple strategies you can use to cut the devils off and protect your business. While most of your affiliates will be trustworthy fellow entrepreneurs with good intentions, there are always bad apples out there waiting to use stolen credit card info to boost their own commissions — and leave you holding the bag.

If you don’t protect yourself, the chargebacks from false purchases will throw your revenue cycle into chaos. Fortunately, it’s not too hard to set your affiliate program up in a way that prevents all that.

Our own scammer-unfriendly affiliate system took a few bad experiences to perfect, so let our experience be your security. Click Play!

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MBA1134 3 Steps to Gain 10 Productive Hours This Week Nov 13, 2018

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Time is more valuable than money — and we’ve only got so much. What would you be willing to trade for substantially more time, each and every week?

Today, we’ve got 3 steps you can take to drastically increase your time by drastically improving your productivity. These aren’t simple “hacks” or fluffy life lessons; they’re challenging acts of commitment that pay off big. These are things we do ourselves, and even though it’s not always easy, it’s always worth it.

Imagine what you can do with 10 extra hours per week: professional development, new projects, or just plain relaxing! It is possible to squeeze more and more precious time from even the busiest schedule, if you apply certain principles — and avoid some time-sucking bad habits.

Try these strategies for just one week, and see what a difference they can make! Click Play!

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MBA1133 Guest Teacher: Dan Schawbel- How to Create Strong Relationships with Your Team Nov 12, 2018

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Do you have employees, or do you have a team?

It’s one thing to be in charge, but having strong relationships with your team can have a serious positive impact on your business performance. The quality of your product, the efficiency of your systems, and your bottom line can all be better — if you’re willing to put some work into the relationships that drive the team’s success.

Today on the podcast, we’ve got a renowned expert in team management to help you do just that.

Dan Schawbel is the expert’s expert, a New York Times best-selling author lauded in Forbes, INC, and Business Insider as a powerful young leader. He’s here with proven ways to reduce employee turnover, get the team focused on your common mission, and create an atmosphere of loyalty and shared purpose.

These tips work for teams of all sizes, in any industry. Find out how to get everyone on the same page — Click Play!

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MBA1132 How Often Do You Need to Meet with Your Team? + Free Ride Friday! Nov 09, 2018

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Meetings: is there anyone who actually likes them?

For most businesses, meetings are a must, at least occasionally. Very rare is the business in which the team never gets together, either virtually or in person. However, too many meetings are just as dangerous as too few. So what’s the right frequency for your business?

Today, we discuss how to determine exactly how often to meet. From the daily “Stand Up” to the monthly get-together, we’ve seen dozens of different approaches, with varying degrees of success. Balancing the need for communication with the need for efficiency can be a tricky proposition, one with serious impact on the morale and productivity of your team.

Our formula for creating your team’s meeting schedule can help you establish a fair, groan-free system for catching up together, and then getting back to work. With a little forethought, you can keep everyone on the same page, without taking away from your employees’ independence. Click Play!

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MBA1131 Paying Staff Hourly vs. Salary Nov 08, 2018

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The age old question for entrepreneurs with growing teams: when does is stop being smart to pay by the hour? When is a salary the right move?

Depending on the employee, how you pay them can make all the difference in both their productivity and your return on investment. And while one option definitely (usually) costs more than the other, what you get back for that money is just as variable.

We had to learn this ourselves, with our own businesses depending on a remote team of dozens.

Our mixture of full-time employees, part-timers, and freelancers requires a careful balance of pay-affecting factors. With pros and cons to both approaches, weighing the cost of employee pay with the value of employee work can be tricky business — especially when the pay structure has a serious impact on the quality of their work.

Today, we discuss how to decide which way you’ll pay a given employee, how to set expectations, and how to ensure you’ll both get what you need from each other in a mutually beneficial arrangement. Click Play!

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MBA1130 Q&A Wednesday: How do I create Facebook ad images without a designer? Nov 07, 2018

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Facebook advertising works, but only if you do it right.

It’s Q&A Wednesday, and we’ve got a listener who’s ready to advertise, but not sure how to design ads that convert — and more importantly, don’t waste the advertising budget.

Fortunately, you don’t need to hire an expensive pro to design effective Facebook ads. There are several options, and lots of resources, for the DIY advertiser. With a little guidance and some helpful tools, you can create several Facebook-friendly images that work perfectly within the social site’s parameters.

Knowing Facebook’s rules and applying one of the 3 options we discuss today will pay off, with a patient approach to the platform that prioritizes efficiency. In relatively little time, at little cost, you can unleash ads that work, avoiding common pitfalls along the way.

Hear how it’s done. Click Play!

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MBA1129 How to Know if Entrepreneurship is Not For You Nov 06, 2018

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A basic truth of business: this isn’t for everyone.

Entrepreneurship isn’t a better way of making a living, just a different one. And only certain kinds of people are suited for it. Having coached and mentored many an independent business person through the $100 MBA, we’ve seen what it takes to succeed — and why being honest with yourself is the first prerequisite.

Over time, we’ve noticed a collection of common traits, aversions that all but guarantee entrepreneurship will not work out for someone. There are certain things that only entrepreneurs enjoy, while most people will be stressed right back into conventional employment.

Yes, this is one of those “hard truth” episodes. But like all hard truths, it’s vital to hear.

There’s nothing wrong with not being an entrepreneur. Forcing yourself to be someone you’re not isn’t smart for anyone, in business or life. Tune in to this episode, and see if you’re really cut out for this wacky, but rewarding, world we live in. If not, do what’s right for you and yours, and express your potential in the way that suits you best.

One way to find out — Click Play!

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MBA1128 Must Read: Tribe of Mentors by Tim Ferriss Nov 05, 2018

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Tim Ferriss is at it again, with another book of Grade-A entrepreneurial wisdom. But this time, it’s not just from the man himself.

Tribe of Mentors is a fantastic collection of condensed wisdom from experts in various industries. Easy to read, digestible, and immediately applicable, these golden nuggets of business truth will serve you well. That’s why it’s this week’s Must-Read book for budding entrepreneurs.

One of the most daring and occasionally controversial business “gurus” of our time, Ferriss always swings for the fences. As a writer and blogger, he’s inspired millions to get to the next level, even by unconventional means. The original life hacker, Ferriss’ influence can’t be denied. Now, he offers a long, but very readable tome on what it takes to move up in life and business.

Hear why this book should be on your list. Click Play!

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