The $100 MBA Show

Latest Episodes:

MBA977 How to Build a Business On The Side P2 + Free Ride Friday! Apr 06, 2018

Show notes

Ready to make your side gig your full-time career?

Yesterday, we laid out the first phases of our detailed action plan for building your own business on the side while maintaining your regular 9-to-5 job. Today, we continue that lesson with the final instructions you’ll need to transition out of conventional work and into entrepreneurship.

Last time, we covered the foundational steps of organizing your time and resources, validating your business idea, and crafting your first minimum viable product. Today, we discuss how to turn your initial product into an actual, honest-to-goodness business. Tune in, and hear the exact steps you’ll have to take to establish your funding, profitability, and marketing before ultimately making your big move.

We also discuss how to improve your product via customer feedback, tweaking it to perfection until your business is truly off the ground. Finally, we offer advice on making a smooth transition out of your day job and into full-time, profitable, viable independent business.

It’s a long journey, but the first step is here! Click Play!

Rich Dad, PoorDad by Robert Kiyosaki

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MBA976 How to Build a Business On The Side P1 Apr 05, 2018

Show notes

You want to build your own business, but you already have a job. And you don’t want to lose it (just yet).

You’re not the only one. Building your business on the side while maintaining your primary income isn’t just common, it’s smart! So how can you invest the time and resources necessary to really start a business? Can you make real progress with nothing but your nights and weekends?

We’ll show you how — exactly the way we did.

This is Part 1 of a 2-part series on building your business on the side. Today’s and tomorrow’s episodes are PACKED with detailed information on how to manage your schedule, stay productive, and minimize personal financial risk while plotting your escape from the 9-to-5. By keeping your day job and putting in a good ol’ fashioned side-hustle, you can pursue your business with a safety net in place.

Start playing the long game now. Click Play!

$100 MBA Free Idea Validation Course

$100 MBA 1-Page Business Plan

EasyCourse

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MBA975 Q&A Wednesday: What sales guides or resources do you recommend for non-sales people? Apr 04, 2018

Show notes

It’s Q&A Wednesday, and we’re here to help! Today, we address a question from a listener with a very common issue: they’re not exactly an expert in sales.

For new entrepreneurs, salesmanship is often the first stumbling block. Per our listener’s request, we’ve put together a collection of go-to resources for beginning sales people that we’ve found most useful and valuable over the course of our business journey. This collection of 3 books and 2 online courses can give anyone a foundation in the art of the sale.

From ultra-beginner to intermediate, these resources are our ideal crash course for anyone who’s just getting into business for themselves. Fortunately, sales tactics can be learned — even by people who aren’t “natural” sales people. All you need is the right advice, and the will to get out of your comfort zone and improve your business skill set.

Take yourself from sales noob to sales pro! Click Play!

$100 MBA Free Idea Validation Course (and 2018 Waiting List)

Your 3-Step Sales Process

How to Win Friends and Influence People by Dale Carnegie

Exactly What to Say by Phil M. Jones

The Ultimate Sales Machine by Chet Holmes

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

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MBA974 How to Make Big Decisions in Your Business Apr 03, 2018

Show notes

Decisions, decisions. Entrepreneurship means having more control — and more responsibility — than your average person. Sometimes, the sheer importance of the decisions you have to make can be overwhelming. All too often, the anxiety and pressure that comes with make-or-break decisions can lead to “analysis paralysis.” Today, we show you how to shake it off and make the call.

We have a precise we method we use to make the best possible decisions when the stakes are highest. By stepping back and putting the decision into a framework, you can get the perspective you need to reach a rational, properly analyzed conclusion. By applying our formula, you can anchor your decisions to the mission statements and personal goals that matter most.

Step out from under the pressure of emotional decision-making. Learn how to make the call with calm, confidence, and zero regrets. Click Play!

WebinarNinja

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MBA973 Guest Teacher: Jordan Harbinger – How to Build Relationships for a Rainy Day Apr 02, 2018

Show notes

We’ve said it before, and it remains true: the relationships you build are the greatest asset you’ll ever have in business. Through ups and downs, from one business to another, your relationships are the one constant resource you can rely on — but only if your nurture and maintain them.

As this week’s guest teacher, Jordan Harbinger, likes to say, “Dig the well before you’re thirsty.” If you reach out to someone for the first time when you need help, you’ve already waited too long. Instead, Harbinger is here to show us how to build relationships well in advance of getting anything out of them, by simply being a trustworthy, generous resource for everyone around you.

Harbinger is a renowned expert in the art of networking and cultivating personal ties that reinforce your business. From his early days as a lawyer, he learned that relationships can be the scaffold of an entire career. As long as your intent is to build genuine ties — not to simply do favors to be rewarded later, the rewards are limitless. By being honest, open-handed, and helpful to others, your business will benefit in ways you can’t possibly predict.

Start building your network now. Click Play!

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MBA972 When to Raise Prices + Free Ride Friday! Mar 30, 2018

Show notes

Times change, and so do prices.

If your business is growing, you’ll eventually have to raise rates for your products or services. Even if it’s just to keep pace with inflation or the cost of living, your prices just can’t stay flat forever.

Of course, breaking the bad news to customers can be a scary thought. No one likes to pay more, even for something they love. That said, you might be surprised at how little resistance you’ll meet when raising prices — if you do so skillfully. Today, we discuss the right times (and the right ways) to raise prices. A modest increase for customers can mean a huge revenue boost for you. We offer proven tips and strategies for “gently” raising prices, whether it’s an immediate hike, or a long-term pricing plan to keep pace with growth.

Don’t be scared to raise prices when you have to. Remember, most customers aren’t so concerned about price — they’re concerned about value. As long as you deliver the goods, your product might be worth more to customers than you realize. Click Play!

WebinarNinja

EasyCourse

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MBA971 How To Improve the Quality of Your Email List Mar 29, 2018

Show notes

Sit down for this one: your email list might be too big.

When it comes to email contacts, quality beats quantity every time. Besides that, excessive quantity can actually hurt your bottom line. Making sure you have a “lean list” is crucial to getting a good ROI on whatever you’re paying for email services (you’re not just using your personal email, right?).

Today, we discuss how to make sure you have the right contacts, not just the most.

A small list of engaged contacts is worth more to your business than a million inboxes where your emails get filtered, deleted, or otherwise ignored. Applying the right strategies to collecting emails will help ensure that the addresses you capture are high quality, conversion-ready contacts with the potential to become customers — not just audience members.

Ditch the vanity metrics! Tune in, and learn how to tell which of your contacts are helping your business grow, not just your list size. Click Play!

$100 MBA Free Idea Validation Course

1,000 True Fans

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MBA970 Q&A Wednesday: Should I hire a family member? Mar 28, 2018

Show notes

Family is family, but business is business. Should the two mix?

Many entrepreneurs have to ask themselves this very question. What’s the risk/reward balance of hiring and managing the people closest to you? For some businesses, it can work beautifully. Take the husband & wife team of our host Omar and producer Nicole, for example. For others, it can raise complications that hurt the business — or worse, the personal relationship.

Today, we discuss the unique challenges and benefits of working with family. We show you how to adjust your human resources approach to accommodate family, protect your personal connection, and avoid the appearance of nepotism. With the right approach, you can work effectively and professionally with family, and enrich your entrepreneurial experience.

Learn how to keep it in the family — Click Play!

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

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

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MBA969 Is Buying a Physical Business a Good Idea? Mar 27, 2018

Show notes

We all know online business is fertile ground. But is there still room for entrepreneurs to thrive in the physical world? If you’re considering taking on a good ol’ fashioned brick & mortar business, you already know that it comes with risks and challenges the online space is mercifully free of. So should you go for it? Is small business fully digital, or can a scrappy player still make it on the (literal) streets?

We’ve got some good news.

Physical business have never been more affordable to invest in, if you know where to look. What’s been terrible for real estate has been great for entrepreneurs, as moderate-to-low priced physical stores and spaces are available all over the map. You just have to assess the risk factors by doing your homework.

Today, we offer 5 specific things you should look into when considering a physical business. By addressing these 5 areas, you can make real-world entrepreneurship as feasible and realistic as any web-based company. Find out how — Click Play!

$100 MBA Free Idea Validation Course

EasyCourse

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MBA968 Must Read: The 1-Page Marketing Plan by Allan Dib Mar 26, 2018

Show notes

Marketing not your forte? Well, have we got a book for you!

Despite the title, Allan Dib’s The 1-Page Marketing Plan is an entire book, and it’s made our list of entrepreneurial Must Reads for very good reasons. This book offers a strategic, intentional, universal marketing plan that any entrepreneur can apply, no matter the type of business. The plan is sound, straightforward, and effective. Best of all, it’s laid out in easily digestible chunks: 9 total steps divided into 3 phases.

This isn’t just a book of marketing theory. It’s a well-researched, well-received synthesis of proven marketing principles and best marketing practices, with practical examples to support its conclusions. If you’re overwhelmed by the challenge of marketing, this is absolutely one of the best places to start.

Get ready to have confidence in your marketing plan. Click Play!

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

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

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