The $100 MBA Show

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MBA2291 Q&A Wednesday: How do I get some quick sales ASAP? Apr 19, 2023

Show notes

Sometimes, you just need revenue. For small businesses, cash is oxygen — and when the waters rise, you need to make sure you can breathe for as long as it takes to get to dry land.

That’s when it’s time for a sales push.

It’s Q&A Wednesday, and we’ve got a listener who ran into some unexpected expenses outside their control (that’s gonna happen, entrepreneurs). Now, the business needs a lil’ extra somethin’ to stay in the black in the short to medium term.

This is not the time to panic or make bad offers. It’s time to get creative.

In this episode, we share a few quick sales-boosters that’ve worked for us. They don’t involve being pushy or manipulative. They’re just about leveraging your assets (and also, other people’s assets) to temporarily rev the ol’ sales needle.

Dig yourself out of a hole when you need to — just follow the steps in this ep! Click Play!

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

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MBA2290 How to Stay Motivated When Times Are Tough Apr 18, 2023

Show notes

Motivation is easy when things are awesome. But how do you stay on top of your game when the game isn’t going your way? If you can answer that question, you can make it through anything.

Today, we offer several answers.

Omar’s been there — frustrations, failures, plans that go sideways when you least expect it. And here he is, still running a successful independent business with a global team that needs steady leadership. How does he get out of bed when the skies are gray?

The key is to have a few go-to practices in your pocket.

Learn a few ways to keep your motivation right where it should be, by putting things in perspective. Do what it takes to see clearly, and you’ll always know — and feel — exactly what you need to in order to do your best work.

Click Play!

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MBA2289 Guest Teacher – Derek Lidow – How to Become a Master Innovator by Copying Others Apr 17, 2023

Show notes

It’s never the best idea that wins. It’s the best execution. In the history of business, the most successful entrepreneurs were the ones who adapted existing ideas better than anyone else (including whoever had the idea first).

Now it’s your turn.

Today, special guest Derek Lidow explains how building on pre-existing concepts is the all-time best way to pursue success. With real-world experience as a successful entrepreneur — and deep academic knowledge of business as a Princeton University teacher — the man knows what he’s talking about.

This episode will shift your mindset about what it means to create the next great thing.

Take the examples Lidow shares today, and apply them to your own space. By developing an eye for ideas and concepts that could be better-executed, you can make your mark.

Take someone else’s first steps the rest of the way. Awaken your inner copycat, and see how far you can go. Click Play!

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MBA2288 5 Ways To Use ChatGPT To Make Money Online + Free Ride Friday Apr 14, 2023

Show notes

Despite what you might’ve heard, ChatGPT isn’t here to end careers. Quite the opposite, really — it can help you start a whole new business, with less time and effort on your part.

Today, we discuss how. We’re sharing five different ways you can fire up the AI and set it to work on services people need.

You might ask yourself: why don’t these potential customers just use ChatGPT for themselves, instead of paying someone else? But that ignores a crucial fact: AI doesn’t work alone. Like any other piece of software, ChatGPT only works well if the person using it knows what they’re doing.

Yes, a car can get you places faster than a horse. But cars need drivers!

That’s how AI works, and ChatGPT is no exception. If you can master the skills necessary to get ChatGPT to take care of people’s needs, you become valuable. Learn what ChatGPT can do in the right hands, and how it can be the start of a whole new venture for you. Click Play!

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MBA2287 Why You Should Start an Agency Business Apr 13, 2023

Show notes

There are lots of ways to make money on your own. But one of the most reliable (and least risky) is the agency business. Today, we discuss what that is, and why it’s such a great option.

Long story short, it’s about as low-risk, high-reward as independent businesses get.

By providing a service like design or copy or multimedia, you can almost guarantee that if your work is up to snuff, you’ll always be able to find clients. Even if you start as a solopreneur with just a single client, you can leverage every successful project into future work.

Best of all, you can keep yourself in profit the whole time, by taking things one project at a time.

Today, we dive into the ins and outs of agency work, with examples that show just how smart this path to independent success is. We’ll explore different types of agencies, recommend the best and most cost-efficient tools you’ll need, and discuss what kinds of clients offer the most dependable recurring revenue.

If you have talent, but aren’t quite sure how to turn it into a business, consider an agency — and start by listening to this episode. Click Play!

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MBA2286 Q&A Wednesday: When should I secure funding for my business? Apr 12, 2023

Show notes

So you’re starting a business, and you’ll need some outside investment to really make it work. Where to seek funding is one problem — but just as important is when to seek funding.

Timing is everything when you’re asking for money!

No matter who the funding source is, you’ll have to convince them that you’re a good investment. And you can’t do that until you’ve gathered enough hard evidence that your product, systems, and team are viable. And that takes time.

But how much?

It’s Q&A Wednesday, and we’re helping one listener figure out when to start shopping for funding. By getting the timing right, you can not only increase your odds of hearing a “yes,” you can actually create more favorable terms.

Learn what you should have in place before you seek funding, and why a little patience can pay off in a very big way. Click Play!

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

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MBA2285 What Went Wrong & Right With Our Team Retreat Apr 11, 2023

Show notes

Yes, even startups and small businesses can have incredible team retreats. In fact, it’s more fun with a smaller, tight-knit team — especially when that team is remote and doesn’t get much face-time.

Of course, not everything will go perfectly.

Today, we share lessons learned from our most recent team getaway. We invited our engineering, marketing, design, and other pros from around the globe to finally see each other in person, having lost that opportunity to COVID for so many years.

And it was awesome…except when it wasn’t.

If you’re considering bringing your team on a retreat (and you should), listen to this episode first. You’ll learn what can go sideways, as well as what makes a retreat a truly memorable bonding experience.

Whether you’re looking to give your team some R&R, accomplish some work goals that are better achieved in person, or some combination of both, a great retreat can’t be beat.

Take a lesson or two from our experience — Click Play!

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MBA2284 Must Read: Four Thousand Weeks by Oliver Burkeman Apr 10, 2023

Show notes

How much time do you really have? It’s easy to say “life is short.” But if you really look closely at the numbers, it’s shorter than you might realize. And all the “productivity” in the world can’t change that.

That’s the premise of today’s Must-Read book for entrepreneurs: Four Thousand Weeks by Oliver Burkeman.

Yep, that’s about how many weeks most people (in industrialized nations) get before they kick the bucket. Much of it is already gone by the time most of us decide to start a business!

Mountains of advice and products are designed to increase productivity, and promise a way to get more out of every precious week. But what if this approach is all wrong? What if the key isn’t trying to do more, but in embracing mortality and focusing on what matters?

How much do you really need to “get done”...before life is done?

It’s a challenging, scary fact to confront. But it’s a fact nonetheless, and being mindful of it can change the way you approach building your business. It’s too easy to get lost in the “to do’s,” as your 4,000 weeks slip by.

Get a fresh, more brave perspective on constructing your own life and work. Hear the top takeaways from this eye-opener, and how it might apply to your entrepreneurial journey. Click Play!

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

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MBA2283 Why You Are Not Getting Any Traction + Free Ride Friday Apr 07, 2023

Show notes

You’ve launched — but your business just can’t seem to get anywhere. Why? What makes some businesses grow steadily (or suddenly), while others just get stuck on the ol’ hamster wheel?

Today, we diagnose the problem.

In this episode, we’ll explore what exactly creates that all-important traction, and allows new companies to reach “escape velocity,” a.k.a. the point at which you break through the invisible barrier, and your expenditure of energy isn’t the only thing moving you forward.

Y’know…like a rocketship.

It’s the difference between pushing the boulder uphill, and simply guiding it while it rolls downhill. Need another analogy? No, you don’t! What you need are actionable strategies to get your new business its first few wins, so success becomes a self-perpetuating cycle.

Long story short, it comes down to concentration and focus. Applied strategically and consistently for a certain amount of time, your business will develop some momentum. Then, the fun begins. Click Play!

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MBA2282 Are You Thinking Big Enough? Apr 06, 2023

Show notes

If you think the sky’s the limit, you’re forgetting what’s beyond the sky. Too often, entrepreneurs are held back not by market forces or competition, but by self-limiting beliefs.

So how big can you really go? And how do you define “big” anyway?

This episode isn’t a hollow pep talk. It’s about realizing that when you create your own future by starting your own business, you get to decide for yourself what’s possible. With real-world examples, we’ll explain how no matter how small you start, success can compound.

This applies to our own business, too.

It’s not that you have to set unrealistic goals or risk losing a good thing to shoot for a great thing. But if you stay open to incredible, seriously life-changing possibilities, you’ll ensure that your business doesn’t underachieve.

Learn how to think bigger, and why you should. Click Play!

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