The $100 MBA Show

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MBA2271 Q&A Wednesday: I'm stuck! My business is not growing. What do I do? Mar 22, 2023

Show notes

To borrow a quote from a book title, “What got you here won’t get you there.” It’s normal for new businesses to hit a plateau after a period of initial growth. But how do you…y’know, move past it?

It’s Q&A Wednesday, and we’ve got a listener with exactly that problem.

Plateaus can happen for any number of reasons. Market saturation, changing consumer preferences, economic downturns, competition — the list goes on. When it happens, get your lab coat on! Because the best thing you can do is experiment.

Think of it like starting your business all over again, but with more knowledge.

To keep growing and stay competitive, businesses have to be ready to pivot to new ways of earning customers. This means being open to new marketing techniques, exploring new sales channels, and even rethinking products or services. As the business scales, you might have to redesign all kinds of processes or look at new tools.

Again, you have to experiment.

Ultimately, the key to (continued) success is to be flexible and adaptable. Learn more about all that, and hear our advice — Click Play!

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

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MBA2270 Lessons Learned From Silicon Valley Bank’s Failure Mar 21, 2023

Show notes

Yikes. The collapse of SVB is one of the biggest stories in business, as depositors, investors, and investees react to what can only be described as a full-blown disaster. But what can you learn from it?

You don’t have to be in Silicon Valley to take a lesson from all this.

We won’t be analyzing the specific causes of SVB’s faceplant. But we will explore how SVB broke some of the most basic rules of business, with predictable results. The same thing can happen to any business that doesn’t actively safeguard their assets — and their market’s trust.

Silver lining: SVB gave us a dramatic lesson in what not to do.

Learn how to put guardrails in place so that your business (even if it’s much, much smaller than SVB) can avoid stepping on a rake. Take care of the key pillars of your business, but most of all, take care of your reputation as a business that delivers what it promises.

Mistakes happen. Failures happen. But they’re only really disasters when we fail to learn from them. Click Play!

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MBA2269 Bonus Episode: You're going to love The Hustle Daily Show Mar 20, 2023

Show notes

Today we’re sharing an episode of The Hustle Daily Show — a daily dose of irreverent, offbeat, and informative takes on business & tech news. In this episode, they take a look at how getting stuff for “free” affects consumer behavior.

Why do we care so much when a crummy t-shirt gets shot out of a cannon at a sporting event? It's all about the power of "free," a price point that makes us feel high and act so irrationally that we forget that even free stuff comes with a cost.

And to really get at the heart of the story here, Hustle writers Zachary Crockett and Mark Dent focus on 3 wildly different areas: free grocery store samples, free shipping, and free online content.

If you like what you hear, search for The Hustle Daily Show in your favorite podcast app. Like the one you’re using right now ;)

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MBA2268 The Business of Japan P4: How I'm Tapping Into a 5.6 Trillion-Dollar Economy Mar 20, 2023

Show notes

We’ve learned a ton about business in Japan, and how the country offers incredible opportunities for small business (including Western ones). Now, it’s time to take the first concrete steps. So what do we do?

Today, we put our Ja-plan into action.

We’re making a few small — but important — moves to introduce ourselves and our company to the country. You won’t see a new $100 MBA Show or WebinarNinja headquarters in Tokyo, but we’re making connections and developing ways to offer our content and services to this under-tapped market.

We don’t know exactly where this will lead. But in business, the most important part is getting started!

Of course, we’ll share how you can take the same steps in your business. Learn how to introduce yourself and your company to a vibrant, potentially underserved market. It’s easier than you might think — Click Play!

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MBA2267 Why Blog Comments Are Dead + Free Ride Friday Mar 17, 2023

Show notes

“What got you here won’t get you there,” as the saying goes. And while a good blog is still a powerful marketing tool, one thing we can finally put to bed forever is the Comments section.

Today, we explain why — and what you can do instead.

We all remember the early days of blogging, when a lively Comments section could breed an active, engaged community of potential followers or customers. Comments sections were like a million little niche town squares, and helped launch more than a few businesses.

Those days are over. Now, the comments section isn’t just useless. It’s downright predatory.

In this episode, we’ll explore the downfall of the Comments section, and share how you can leverage great blog content more constructively. Your blog can still be the gateway to a strong, monetizable community. You just have to harness that energy in better ways.

Click Play!

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MBA2266 Do Gifts Work in Business? Mar 16, 2023

Show notes

When you buy someone a gift, what does that buy you? Do customers, partners, and others see it as an investment in your relationship, or an unasked-for transaction? Or worse, an attempted bribe?

It all depends on how you give.

Today, we discuss the art of the business gift. If it’s overly transactional, or impersonal, or simply has the wrong objective behind it, a gift can backfire. But if you do it the right way — which is also the way with the least predictable results — it can lead to incredible things.

So how should you give?

Based on conversations with an expert in business gift-giving, we’ll explore the “do’s” and “don’ts” of dropping presents on people. Learn how to give tactfully, and what to realistically expect as a result. Click Play!

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MBA2265 Q&A Wednesday: Is a recession a bad time to start a business? Mar 15, 2023

Show notes

Times are tough. Inflation, continuing supply chain issues, and price gouging are on the rise. Recessions are natural and inevitable — but should you wait them out before starting your own business?

Spoiler alert: no.

It’s Q&A Wednesday, and we’ve got a listener with a great business idea. But they’re worried about the timing. Is it smart to get into business when businesses (and consumers) are struggling? Is it better to wait a year or more and get started when people are spending more?

Again…no.

Today, we explain why it’s not only ok to start a business in a recession, it’s smart! Recessions aren’t pretty. But like every crisis, they present unique opportunities. And the longer you wait to start a business, the more time you’ve lost to develop it.

We’ll explain in detail in the episode. Click Play!

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

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MBA2264 Why You Need to Fire Your Customers Mar 14, 2023

Show notes

The customer is always right — except when they’re not. It’s time to stop clinging to customers who aren’t serving your business, just like they’d quit your business if it wasn’t working for them.

Seriously.

As providers of products and services, we’re often primed to bend over backwards for our customers. But when a customer starts costing you more than they’re making you, a line’s been crossed. Today, we explore what that looks like, and how to know when it’s time to say goodbye.

At some point in your business, you will have a customer like this.

It’s a simple matter of defining the limits of customer satisfaction. And there are limits! You have to protect your business, your team, and yourself from the kinds of customers that deplete rather than energize you, and who derail your overall mission.

Learn how to figure out which customers need “firing,” and don’t lose a second’s sleep over it. Click Play!

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MBA2263 The Business of Japan P3: East Meets West- Business at Its Best Mar 13, 2023

Show notes

We’ve been hanging out in Japan, learning a whole new perspective on business. Now, it’s time to explore how you can get in on the action — by actually doing business with or inside Japan.

Yes, this is possible. And it’s a very good idea.

Today, we explore various ways non-Japanese businesses have forged ties with Japanese entities and professionals. We’ll also get into digital nomad options in Japan, which has become much more outsider-friendly in the last few years.

From infrastructure to supplies to labor to the place itself, Japan is rich with assets you can take advantage of!

When the deeply rooted, time-honored cultural and business practices of Japan merge with the Western entrepreneurial spirit, the result can be successful on a global scale. Learn what possibilities Japan might offer you, and how to get started.

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MBA2262 How and Why You Should Always Sell Out + Free Ride Friday Mar 10, 2023

Show notes

The wrong approach: “I should do my best to make sure there’s always enough of my product/service for everyone who wants to buy it.” The right approach: “I should run out of stuff. Often.”

Yes, this is tough to wrap your head around, especially if you’re new to business.

But remember that value is defined by one thing: scarcity. That’s why people line up for new Jordans — because there will never be that many of them. Creating scarcity is a tried-and-true way to increase the value of whatever you sell, and the urgency to make a purchase.

That said, you should never create scarcity at the expense of trust.

In other words, you have to sell out genuinely, not in some falsified or contrived way. Today, we explain how the selling out approach works, why it’s so effective, and how to execute it honestly and ethically.

Less is more! Learn how losing a few sales is the best way to gain more sales down the road. Click Play!

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