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MBA2022 Your Only Goal When Starting a Business + Free Ride Friday Apr 08, 2022

Show notes

Sometimes, the best way to push forward is to simplify.

For a new business, a million shiny objects can become distractions disguised as goals. As legitimate as these goals may be, you can’t take your eyes off the most important prize of all — the one that’ll ensure your business’s long-term future.

Today, we explore exactly what that goal is (and how to achieve it).

No matter the industry, no matter the type of business, no matter the product or service, every new business needs to get to this special place before they can go anywhere else. Too many new businesses lose sight of this goal, to their peril.

Learn what you absolutely have to achieve, above all else, in order to make it as an entrepreneur. Click Play!

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MBA2021 The 3 Types of Social Posts That Get The Most Engagement Apr 07, 2022

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Looking for traction on social media? Need to work the ol’ algorithms a bit?

We’ve got a strategy for you.

Actually, we’ve got 3 strategies. Today, Omar shares the “3 S’s,” a simple framework for creating social posts specifically to drive engagement. Whether you’re looking for likes, shares, or comments, the 3 S’s have you covered.

Remember: marketing works best when it’s simple!

The strategy we discuss today utilizes the most fundamental aspects of human psychology and social behavior. With a basic sense of what triggers action, you can rewire your social strategy for maximum engagement. Click Play!

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MBA2020 Q&A Wednesday: How do I know if people would want my app? Apr 06, 2022

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You have a great idea for an app. That doesn’t mean you have a business.

So how can you possibly tell if your idea has legs?

It’s Q&A Wednesday, and we’ve got a listener with a banger of an idea for a business app, but who isn’t willing to start throwing money around to develop it just yet. Wise decision! Today, we explain how to get some reliable market research, so you can make the best bet.

Hint: you don’t have to build it to sell it.

Using our own SaaS product as an example, Omar shares how you can create a product or service in stages, with each stage giving you a little more intel (and a little more cash) to work with.

Before you launch your next product, give this episode a listen. Click Play!

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

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MBA2019 The 80% Delegation Rule That Will Change Your Life Apr 05, 2022

Show notes

That’s not hyperbole. If you run a business, the most important thing you can do is figure out how to get back some of your most precious, irreplaceable resource: time.

As we like to say, time is infinitely more valuable than money.

One of the biggest obstacles to taking time back is insisting on doing everything yourself. Just as dangerous (but a little more subtle) is insisting that other people do things exactly as you would — or even just as well as you would.

It’s time to let go.

Today, we break down a rule that’s a little hard to live by at first, but will absolutely improve everything from the quality of your business to the quality of your life. Learn what the 80% rule is, how to apply it, and why it can be the best gift you ever give yourself.

Click Play!

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MBA2018 Must Read: Will by Will Smith and Mark Manson Apr 04, 2022

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Forget the Oscars thing for a second.

Before the…incident, we planned to review Will, the powerful autobiography Will Smith co-authored with Mark Manson (the guy behind The Subtle Art of Not Giving a F*ck). And we couldn’t be happier we decided to stick with that decision.

This book is penetrating, insightful, and valuable — recent drama aside.

Today, Omar shares some of the incredible lessons this book offers on work, success, and happiness itself. These lessons are more than applicable to business (after all, music and entertainment are businesses in which Smith has inarguably thrived).

Hear why this book is so great, and why its lessons speak louder than any single incident. Click Play!

Will by Will Smith and Mark Manson

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

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MBA2017 Does Scarcity Actually Get More Sales? + Free Ride Friday Apr 01, 2022

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Act now!

As consumers, we’re told this all the time by people trying to get sales. If you don’t buy ASAP, you’ll miss out on a great deal, or even the chance to buy altogether.

But is it…bull?

Is scarcity just another manipulative tool used by unscrupulous salespeople? More importantly, is scarcity a tool you should use? FOMO (Fear of Missing Out) can be a powerful motivator. But is it effective — and ethical?

Today, we explore the concept, and how to execute it without feeling gross.

Scarcity, when genuine, is not a trick. It’s a reality you’re letting your customers in on, potentially to their genuine advantage. By dropping the games and offering people a truly win-win scenario, you can use the scarcity principle to boost sales in an honest way.

Find out how — Click Play!

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MBA2016 Why I Am Not on TikTok Mar 31, 2022

Show notes

TikTok: it’s all the rage. But does it matter to your business?

In our case…no.

So why don’t we use this powerful platform, where millions of potential customers are engaged?

It all comes down to time, priorities, and defining your goals. When you know what kind of company you are, you can be comfortable with “opportunity costs” — the things you have to say “no” to in order to say “yes” to something more important.

Today, we explain why TikTok hasn’t made our list.

It’s not because it’s a “bad” platform (though there are several valid criticisms of it). It’s because it’s not the best use of our team’s time and resources. More importantly, like any social media platform, it’s under someone else’s control.

Hear our thought process, and decide if TikTok is worth your time. It might be! But if you’re like us, it might not. Click Play!

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MBA2015 Q&A Wednesday: Should I take a dividend in my business? Mar 30, 2022

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Your business is profiting. You’re making a living.

But what’s in store for the long term?

It’s Q&A Wednesday, and we’ve got a listener who’s seen what can happen when you only give yourself a paycheck, and nothing more. Even long-standing businesses can fall — and when they do, the founders can walk away with next to nothing.

Which raises the question: should you be taking dividends? And if so, how much?

Balancing the need for a personal safety net with the needs of your business can be tricky. If you don’t take dividends, you can end up no more or less successful than if you stuck with a regular job. Take too much by way of dividends, and you risk slowing growth.

There are many factors at play, including the tax situation. Today, Omar shares the must-knows when it comes to dividends and entrepreneurship. Click Play!

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

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MBA2014 How to Demand Higher Prices Mar 29, 2022

Show notes

Who are these coaches charging thousands — or tens of thousands — for their services?

More importantly, who are their clients, and how are they getting them?

No matter what kind of service you offer, working your way up to massive rates is the best way to get the biggest ROI. Making more money from fewer clients is always the smart move.

But as you can probably guess, it doesn’t happen overnight.

Today, Omar shares what he’s learned about exactly how some people claw their way up to premium pricing.

Are there any shortcuts? Not really. But there are ways to get there faster, smarter, and with less wasted effort. Become an expert at showing people just how valuable you really are, then work your way up to the big leagues.

Click Play!

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MBA2013 Guest Teacher – Matt Edmundson – How to Create a Customer-Centric Experience With Toilet Seat Marketing Mar 28, 2022

Show notes

Are you thinking like a customer?

If you don’t understand your customers’ perspective, there’s a ceiling on how effective your marketing can be. But if you drop the “hacks” and influencer strategies, you can master the fundamentals that create long-term growth.

And of course, we have an expert to explain how.

Matt Edmundson is an ecommerce mastermind who knows how to achieve growth. But in any type of business, the basic principles remain the same: not to pander to customers or pretend you think they’re “always right,” but to simply adopt their outlook.

In this episode, Matt shares a few specific ways to do that, based on a lesson he learned from a guy who cleans toilets. It’ll make sense, we promise — Click Play!

The eCommerce Podcast with Matt Edumundson

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