The $100 MBA Show

Latest Episodes:

MBA1007 How to Adapt Spotify’s Business Model + Free Ride Friday! May 18, 2018

Show notes

Give. Hook. Upsell. Repeat.

The Spotify business model is genius. It’s also increasingly common practice, one currently adopted by businesses big and small. Spotify, Pandora, YouTube, and many more take the same approach: provide an incredible free service, then offer a premium version for a relatively small monthly fee.

The beauty is that it works at both levels. At the free level, you can still draw revenue from advertisements — the exact advertisements your customers will pay to avoid. If the service is great, and the customer has a certain amount of disposable income, it’s a win-win.

Today, we discuss exactly how to apply the free service to premium upgrade model to your business. Just like in many facets of business, from marketing to support, what you give away is ultimately what earns you the most.

It’s FREE RIDE FRIDAY!!! See if the Spotify method can work for you. Click Play!

Backlinko with Brian Dean

Weebly

Wistia

Book Like a Boss

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MBA1006 5 Common Mistakes When Starting Your First Business May 17, 2018

Show notes

You’re starting your first business. Are you nervous?

Don’t be! Even though it’s your first time, you’ve got the advantage of our experience, right here on this podcast. There are so many things we wish we knew when we first got started. Today, we share 5 of the most important mistakes we wish we hadn’t made — because we totally did.

These are not small mistakes! All five of these screwups are potential business-killers.

The good news is that because we made these mistakes already, you don’t have to. And even if you have already made them, it’s not too late to change course. Whatever you do, do not let these errors slide. Avoid them, stop them; whatever it takes.

Many of these mistakes involve the transition from conventional work to entrepreneurship. For the newly independent, it’s important to know the key differences that trip people up. Let our experience (and our failure) be your guide. Click Play!

EasyCourse

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MBA1005 Q&A Wednesday: How do I close my business for good without upsetting my customers? May 16, 2018

Show notes

Goodbyes are tough. When you’re closing your doors, how should you address it with your customers?

That’s what one listener asked us for this week’s Q&A Wednesday. There are perfectly good reasons to close a business, from a lack of profitability to plain old retirement. But when you do so, you take something away from a group of people who supported you.

As a business owner, you owe it to them to bow out gracefully.

Today, we discuss how to communicate the end of your business in a respectful, productive way. Any exit strategy requires careful planning, including salvaging whatever good will you can. It requires correct timing, articulation, and possibly honoring some legal obligations. The way you close will have an impact — one that can follow you into your next business.

Learn how to soften the blow. It’s the right thing to do. Click Play!

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

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MBA1004 How to Run a Successful Cross Promotion May 15, 2018

Show notes

They say two heads are better than one. How about two marketing campaigns?

Cross-promotion is a smart, simple way to instantly double your exposure, and it costs you almost nothing. All you need is a partner with a complementary product, and you can exchange access to your respective audiences.

In our business, we’ve done many a cross-promotion with other entrepreneurs. In fact, we’re doing one as of this writing.

We’re not talking about commission or affiliate marketing here (though that’s an option). We’re discussing a simple exchange in which your partner tells their audience about your business, and vice versa. It’s easy, mutually beneficial, and effective — if you do it right.

Today, we offer our best strategies for executing an optimal cross-promotion, from identifying a partner, to mutual goal-setting, to follow up with your new audience. With a little strategy, cross promotion works. Click Play!

WebinarNinja

EasyCourse

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MBA1003 Guest Teacher: Timothy Armoo- How to Leverage Snapchat to Tap into a Young Demographic May 14, 2018

Show notes

If you want to reach the young, you need to speak Snap.

Snapchat owns the under-30 market, with more teenage users than Facebook — despite Snapchat being a fraction of the size. As it grows, the temporary image and video-based platform will only extend its reach to the young.

For now, though, marketing and advertising on Snapchat is way underpriced.

To help you understand how to take advantage of Snapchat, we’ve brought in a special guest teacher. Timothy Armoo is the 23 year old CEO of Fanbytes, a mobile video advertising firm that helps companies reach the kids on social media.

Fanbytes has helped giants like Warner, Universal, and Sony get their message to the young. Now, Armoo is here to help you.

He’s got 5 “hacks” you can use to tailor your message to Snapchat’s unique features and functionality. These 5 tricks will maximize the impact of your campaigns with Snap-specific practices proven to earn clicks.

Get with the times, friends. If you ain’t Snappin’ it won’t happen! Click Play!

Fanbytes

Fanbytes free Snapchat Cheat Sheet

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MBA1002 Removing Friction From Your Business + Free Ride Friday! May 11, 2018

Show notes

Friction (noun): that which slows us down.

We all want our businesses to run smoothly. Today, we’ve got some tips on how to identify and eliminate sources of friction, those areas of inefficiency where goals are held up. Friction can come from many places (and people), but there are 3 particular points where a few changes can make all the difference.

On this episode, we explain how to make your business (and your life) a whole lot easier. Entrepreneurship has enough challenges, so why allow unnecessary obstacles to exist? WIth some advice from a great mentor of ours, we share some effective ways to trim the systemic flaws (and individuals) holding you back.

Friction costs time, money, and effort. Don’t let any of your hard earned resources go to waste. Reduce the friction, and ride smooth — all the way to success. Click Play!

EasyCourse

Heroic Public Speaking

Book Yourself Solid by Michael Port

ZenDesk

Intercom

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MBA1001 How to Find Great Talent Via Your Staff May 10, 2018

Show notes

Good help is hard to find. But it’s easier when you’ve got staff who care about your business.

Whenever it’s possible, finding new hires via your old ones isn’t just cost-effective. It’s ideal! While anyone can comb through resumes and find appropriate skill sets, nothing beats a referral from someone who understands your business, your company culture, and your needs.

Not only does your own team know you and your mission, they know the potential hire — and what makes them a great fit. We’ve grown our team person by person for the last several years, mostly using this method. In that time, the people brought in by our people have proven to be a great fit.

Even if you’ve only got one employee, you can turn that person into the best possible recruiter. Personal connections do more than any job posting, recruitment service, or interviews. Assemble the team that jives on a personal level, and see what they’re capable of. Learn how — Click Play!

Basecamp

Slack

EasyCourse

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MBA1000 Q&A Wednesday: How Do You Work & Live With Your Significant Other? May 09, 2018

Show notes

It’s been a long road, but here we are: 1,000 episodes!

Don’t worry — we won’t spend too much time celebrating, because we’ve got business to discuss. Specifically, many of our listeners want to know how our co-founders, Omar and Nicole, balance their personal partnership with their business partnership. Can working alongside that special someone really…work?

It sure can!

Today, Omar and Nicole discuss the unique challenges and advantages of building a business with your other half. Our co-hosts are up-front and honest about what can go wrong when you work with someone so close to your heart — which is exactly why they pull it off.

Omar and Nicole discuss the potential conflicts of sharing a business and a life, as well as the boundaries, systems, and mutual agreements that keep them focused on their shared goals. They also discuss what makes working together so adorably great. Each offers 3 tips, for a total of 6 wisdom-nuggets on how to chase your goals with your best friend at your side.

Hear what it takes to make it, together. Click Play!

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

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

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MBA999 5 Email Promotion Tips To Increase Sales May 08, 2018

Show notes

Email, email, email.

We never miss an opportunity to point out that email is king when it comes to online marketing and sales. Because the recipient has to opt in to receive it, and because every email requires some action to resolve (even if it’s just to delete), emails are your best chance to be seen, heard, and understood.

When you’re running a sales promotion, every facet of your email has to be precisely crafted with strategy in mind — from the subject line to the sign-off. Whether you’re launching a new business, launching a new product, or just having a sale, every aspect of your email matters.

Today, we discuss 5 phenomenal tips for optimizing your sales campaign emails. Write them down, stick them somewhere visible, and refer to them every time you run a promotion. We cover everything that makes an email campaign work: timing and frequency, design, content, and follow-up.

These principles can apply to any kind of sales campaign, for any type of business. Learn the strategy, and watch the results roll in. Click Play!

ActiveCampaign

InfusionSoft

ConvertKit

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MBA998 Must Read: Damn Good Advice by George Lois May 07, 2018

Show notes

In business, good advice is worth its weight in gold.

For this week’s Must-Read Book Review, we go one better: Damn Good Advice (for people with talent) is a treasure trove of insights, witty observations, and hard-earned truths from George Lois, legendary ad-man and creator of Big Idea Advertising.

As the title suggests, Lois’ advice is, shall we say, blunt. Some of it is even controversial. Heck, we outright disagree with a few of his points. But the net value of reading this book is undeniable. It’s an easy, short, digestible read with a humorously combative tone that keeps the pages turning.

Before you know it, you’ve finished it — and you’re glad you did. We especially appreciate Lois’ take on the relative merits of smarts and work ethic, a balance that every entrepreneur has to find in themselves and their team members.

It’s unconventional, but it’s a gem. Hear what this book has to offer — Click Play!

EasyCourse

Damn Good Advice (for people with talent!) by George Lois

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

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