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A highlight from NEVER DO THIS AGAIN! - This Is Holding 99% Of People BACK From Success! | Tom Bilyeu

Impact Theory with Tom Bilyeu

07:06 min | 1 hr ago

A highlight from NEVER DO THIS AGAIN! - This Is Holding 99% Of People BACK From Success! | Tom Bilyeu

"Almost everybody quits. At everything. Yeah. They all give up a new year's resolution. They all quit. The big goal in their life. They all quit. I'm getting emotional right now. People quit, dude, it's so heartbreaking. Gentlemen, we're here to talk about habits changing life getting unstuck. What do you have for me? So I'll start off with what are the most common things you see people do that holds them back from success. Ego is a big one. In fact, that is the biggest, you need a self correcting mechanism. So at the beginning, we all suck. Doesn't matter what you're doing, whether you're a little kid, whether you're deep into your career, when you're embarking on something new, you're going to be bad at it. You need to leverage what is the more I push for success, the more I realize everything is just a scientific method, recontextualized for something. You have a guess, you try something, you fail to some degree, you assess what worked, what didn't work, you then reformulate your hypothesis and try again. The problem is, if you think you're amazing and in failure, it hurts who you are and your sense of self, you don't want to see the truth. And you will hide the truth from yourself extraordinarily effectively. Or you just won't try again. Oh, that didn't work. Not because of me, it didn't work because of some other thing, and you'll externalize it. The flip side of that coin, though, is if you take everything on yourself, oh my God, I messed up. I made a mistake. I'm stupid. I'm wrong. I did this poorly. This didn't work because of me, then you won't try again because you've just completely deflated yourself. So you have to walk this weird middle ground of having an ego, but making sure that your ego is based on something that makes you stare nakedly at your inadequacies. And the only way to do that, that I have found is to identify as the learner. So most people want to be right, good, smart. In fact, let's talk about Nietzsche. It's all will to power. Everybody needs to have that thing where they're like, because of this, I am a badass. This is why somebody at a toll booth or whatever flexes their muscle or somebody at the TSA have recently traveled and people want to flex their muscle there. Because you need something that makes you feel like you have power. Will to power. As you look, I am brand new to each other. I don't want to make it sound like I'm a scholar here. But it was the first thing that allowed me to understand what's happening in culture right now. Which is people fighting for ideas seem to me self evidently self destructive. And I could not understand why they would do that. But once you realize that, oh, if I can't beat you in open competition, then I just want to tear you down. When you realize that that need to show that you are powerful to make progress to strive for something to be able to bend the world to you in some way, then you realize if you can't make that will to power serve something that's high functioning in terms of pushing you towards fulfillment, you're going to be in a self destructive spiral. And so that's where most people live is they are running the scientific method of hypothesis they try something, but when it doesn't work and it won't, what do they do? And if at that moment, they realize, oh, I have this need to solve this to move forward to make progress, but I need to do that in a high functioning, self aware way, and the best thing that you can do there is see yourself, okay, I'm the learner. I want to see what I've done wrong. That is my will to power. My will to power is improvement itself. And to do that, I have to really accept the things that I'm not currently good at. Most people can't do that. Most people are stuck in the psychological immune system of I want the will to power, but I'm going to lie to myself, assume that I'm good, right, better, faster, stronger, and for that all to be true, anything that is saying that I messed up or I'm bad, I have to knock down. And that's where people get into self destructive loop. Instead, you need to be asking, what can I do differently? That would be more effective. So I think I'm good at staying at my inadequacy. I got that part. And then now I'm looking at I don't have the will to power. And so I think sometimes I get to what do you mean by that? Because you do every the will to power is innate. Meaning you want it, you want power. You want to be able to look at the things in your life that you don't like and change them in some way. So I want to do that. And then because I'm inadequate right now, I get that frustrated feeling of like, God damn it, why am I not, why am I not able to execute at the level I want? Why am I not sticking to the habits that I want to stick to? And it's just, you know, sometimes intellectually know the answer, but then I just get a frustrated with, I'm not there yet and sometimes it can be like it can be almost like paralyzing. So what do you think? So it's interesting because you're letting something very useful, spill over into not being useful. So you, the reason that you've had as much success as you've had is because it's never enough for you. You're constantly frustrated. You want to do more. Like when I think about how much you do, it's very impressive. You hold a lot of things. The reason you hold a lot of things is because it's never been enough for you. You always want more. You always want to get better. So that's good, right? That ambition has led you to where you are. My ambition has led me to where I am. But sometimes it feels pathological. I feel like I'm too ambitious. I want too much. And it drives me into this corner of taking on, like, everything, everything. And whenever I think about the remedy, and I think, oh, I would tell somebody else, do less. I don't like that feeling. I don't want to do less. I want to get stronger. I want to do more. So you want that. That's nature going, hey, I need you to go out and fight and do really dangerous things, right? If you think about yourself from an evolutionary standpoint, dude, so boys and girls read about history, okay? I'm becoming obsessed with history. Humans are murderers. Murderers, dude, we kill. We rape, we pillage. It's crazy. In all of us, is that animal. Now the question is, why would we develop that from an evolutionary standpoint? Because for millions of years, it was read in tooth and claw. It was so hard to stay alive to go out to get food. At the risk of derailing your answer, reading the book, the empire of the summer moon was transformative for me. It may be the book that made me fall in love with history, like just completely and totally. Because I realized the world used to be completely untamed. And that the great plains of America, which I had heard people referred to, but never knew what it meant. There was a part of America that was so flat and there was basically nothing there that they referred to it as oceanic. Meaning that it was like being lost at sea. It was just so big, so expansive, so open, so nothing

Nietzsche TSA America
A highlight from The Entrepreneur's Playbook for Expanding Wealth, Freedom and Time with Jim Dew: From the 2019 archive

Entrepreneur on FIRE

03:24 min | 7 hrs ago

A highlight from The Entrepreneur's Playbook for Expanding Wealth, Freedom and Time with Jim Dew: From the 2019 archive

"Jim say what's up to fire nation and sure something interesting about yourself that most people don't know. What's up fire nation? I'm excited to be on here. What a great podcast and a great group. And I appreciate being on here with you, GLD. Thanks. So something that hardly anyone knows about me is when I transition my first job I was a math teacher, which a lot of people know that. But in my transition before I went into wealth management, I did door to door sales for about 18 months. Man, I'll tell you so many people who have made it in this world started off with door to door sales. And I have my theories and I'm kind of curious what you think, Jim. But you learn how to bounce back from no. In fact, you learn just how to react well to a no, because you're going to get a lot of those door slamming your face. A lot of nose, a lot of no answers. And you can come back stronger than ever. That's a true sign of a future successful entrepreneur. What are your thoughts on that? I agree completely. I put a little spin on it and that is that I think I learned courage from doing door to door sales for 18 months. So I know the fear of rejection is a big thing, but for me, it just came down to courage because many times in my career, the 24 or 25 years after that, I have felt like that gave me the courage because I think to myself, okay, this is going to take some courage, but it's not as hard as walking down a stranger street. And knocking on some stranger's door and hoping they're not going to yell at me or slam the door in my face. I love that spin because I can honestly say that I look back at that as well. When I was 23, 24 years old, I wasn't knocking on doors. I was knocking down doors as a platoon leader in charge of four tanks, 16 men in a war for 13 months. When I look back, I'm just like, okay, that took courage that showed me what courage was. And so now when I'm going to ask Jim to be on my podcast, that's not nearly as scary as some of those things. And I have the courage to do some of that stuff. Love that analogy. Can I just say to that, thank you for your service. Thank you. I really appreciate that. My dad's a World War II vet. He's going to be 94 years old this year. He was in a combat area in the Philippines. And I just wanted to tell you that because when I saw your history, I really respect that type of risk and courage and people like you, young people around the world doing that for our country. Well, I appreciate that appreciation. And next time you see your father, give him a salute and say that's from captain Jay LD saluting you, the veterans that came before him. I appreciate that. I love that. Yes. Thank you. So listen, fire nation. As I told you in the introduction, we have a killer killer masterclass today. Beyond a million, the entrepreneurs playbook for expanding wealth, freedom, and time. Such a great topic. So let's just dive right in, Jim. To talking about the structure that billionaires use, that we, as human beings, as entrepreneurs, as fire nation, can adopt to better manage our wealth. Yeah, so it was a secret for about a 150 years how billionaires would structure their wealth management. Lately, when I speak to groups of entrepreneurs, more and more I've heard of it. But the term is family office. So I'm sure you've probably heard of the same family office before. Let me give a quick definition for those in your audience who haven't heard of it. A family office is where a very wealthy family will hire all the needed professionals to manage their wealth.

JIM Captain Jay Ld Philippines
A highlight from The Steps to Business Success with Clay Clark: From the 2019 archive

Entrepreneur on FIRE

04:37 min | 1 d ago

A highlight from The Steps to Business Success with Clay Clark: From the 2019 archive

"Clay, say what's up to fire nation and share something interesting about yourself that most people don't know. What is going on there, fire nation? I have 30 chickens, 14 cats, north of 40 fire extinguishers, and I've had enough day quill today to kill a small goat. No wonder why you haven't moved to Puerto Rico yet because that is a lot of baggage my friend, this going on there. And fire nation clay was actually last on entrepreneurs on fire. Back in 2015. So it's been over four years. So there's been a lot going on in your world, brother. I've been keeping some tabs, I've been being filled in by my team here, but share with fire nation, the new projects that you've been up to since we last chatted. Well, we have a men's grooming lounge chain. It's kind of like a haircut meets country club called elephant in the room, and we just opened up three additional locations in the past 5 years, a two in Oklahoma City, and another one in Tulsa. And we have thousands of members. It's a membership based model. That business is doing well. And I released a new book called search engine domination that we're selling a lot of copies of right now on Amazon. And my wife and I, we just bought 39 acres that has a pond and a Lake where we're in the process of building camp Clark in chicken palace. And I just finished my camp Clark and chicken palace here, but I'm now expanding from 17 acres to the 39 and we're going to start hosting our workshops there as opposed to at the office building where we currently have a big old 20,000 ft² facility. So exciting. You have so much stuff going on. It makes me feel so lazy, but looking back over your journey clay, you started your first multi-million dollar company, not just million, not 6 figures. We're talking multi-million dollar company. DJ connection dot com at 18 years old. So you are very successful at a very young age. What do you attribute that early success to? Well, I stuttered as a kid and that wasn't good. And I had to make to mimic the show dark, but I had some abuse that happened at a very young age and then my parents saw what was happening and stopped it, but it happened, you know? And then when you stutter, you get made fun of. And so I think you take your bitterness and you can turn it into bitterness or turn your bitterness and turn it into, you know, Eminem songs. And I became a DJ. And so I kind of dressed like Eminem kind of acted like Eminem, but I was very, very good at DJing. And I just had this mindset of like, I'm gonna prove everybody wrong. And I had one mentor. His name was uncle Jerry, and he had eyes that looked like a raccoon, and I was living with him because my dad's parents passed away in an unexpected turn of events. And so my dad's an only child, he's down in Waco, Texas, taking care of the home, and I get shipped up to Minnesota to live with this uncle Jerry with the raccoon eyes. And uncle Jerry, I didn't know it, it turns out John Lee Dumas turns out he's super rich. I didn't know my uncle was rich. And so he told me if I didn't get up at 5 and feed the chickens, I couldn't eat. And I thought, well, let's play a game. Let's play the game of chicken about the chickens. So I decided to not get up. And then he didn't serve me breakfast. And he didn't serve me dinner, and I thought this guy's not kidding. I developed this thing called a work ethic and Jerry had the thing. If you have time to watch TV, don't do push ups. So my parents shipped a fat kid to Minnesota who was lazy and when they came to move to Minnesota due to financial reasons they found a very physically fit kid who worked very hard all the time who had been taught the art of the grind from my uncle Jerry. So fire nation, I believe this will be realized that you could instill these habits in your kids and your family and your loved ones. This is not something that you are stuck just because you may be fat and lazy one day one doesn't mean you need to be fat and lazy day two. Like it literally could start today. And man, I just wonder how many times you've actually just said thank goodness for that situation because there's obviously created the person that you are today who is literally the least lazy person that I personally know. You've just done so many things and I kind of want to get into your most recent thing, which is your book search engine domination because it's all about dominating these search engines, but where do most people go wrong when it comes to that specific tactic? Well, most people have allowed the process of optimizing their website to become overcomplicated. And they end up hiring a search engine optimization firm that tells them that optimizing the website is more complicated than designing a nuclear submarine or drawing a blueprint for building a professional football stadium with a big retractable dome.

Chicken Palace Eminem Jerry Puerto Rico John Lee Dumas Oklahoma City Tulsa Minnesota Clark Amazon Waco Texas Football
A highlight from MBA2187 Are Funnels Better Than Websites?  + Free Ride Friday

The $100 MBA Show

04:33 min | 1 d ago

A highlight from MBA2187 Are Funnels Better Than Websites? + Free Ride Friday

"We don't just drive traffic to the website. That's a real waste of money. We actually use a small little funnel that we create, which sends them to a landing page that allows them to give us their name and email address in exchange for some value. And we have a dedicated funnel for the ad. That's hyper focused. And in this case, funnels are really powerful because I do want the customer in this situation to go down a prescriptive path because I'm running a specific ad for specific people and I know exactly who I'm targeting, so therefore I know exactly what to provide. Brilliant, right? And funnels are fantastic for those. It allows me to optimize my ads, allows me to get more bang for my buck for my ad spend. Allows me to increase my conversion rates. All that wonderful stuff, right? Now if for any reason somebody wants to check me out, they can go to my website and they could see everything that we offer, but for the purpose of the ad, I want a direct traffic, I want to send them to specific pages and specific calls to action. This also applies to any direct calls to action that are not ads, like, say, for example, you're writing a book and you want to give extra materials like workbooks or cheat sheets or worksheets, right? It makes more sense to set up a small funnel with a very easy to remember URL like X dot com slash worksheet. And they go and they can find a way to download that worksheet, give their name an email address, and then you can nurture that lead through that little mini funnel versus sending them to X dot com slash worksheet. And that's just a page on your website. They can easily be lost, click around, leave the page, get distracted. So when you want someone to take a direct action, I mentioned the example with a URL being mentioned in your book. But this could be also if you're being interviewed on a podcast or you're sharing materials on stage at a conference, you want to send somebody to a very targeted page with no distractions that allows them to go through your little mini funnel. Now the question a lot of people ask us, well, okay, Omar, I get it. This makes sense. Keep my website use funnels, strategically. I like it. Do I need a separate software to run my funnels in a separate software to run my website? Well, it depends on what you're using to run your website. The vast majority of people that run a business have a website that they can customize. It's on WordPress. For example, or they're using a website builder like Squarespace or Wix or weebly. And if this is the case, you could probably customize the pages to create your own funnels. Now, remember, a funnel is just a series of pages and emails and links that tie together. It's not proprietary software here. You don't have to buy a piece of software that creates funnels. You can create your own. Just like you don't have to go to McDonald's to eat a hamburger. You can make your own hamburger home. Once you know what's in a hamburger, a bun, a patty, some lettuce, some tomatoes, some cheese, throw in a couple pickles. I got myself a hamburger. Same thing with a funnel. So you might have just a simple page with no navigation menu with an opt in box so they can give their name an email address. That leads to a thank you page or a confirmation page. They then get an email that then shows them where to get the freemium that you gave them like the ebook and so on and so forth. So one of the best ways to build your own funnels is just to analyze the steps in the pages and the moving parts are involved in a funnel that you enjoy. A funnel that you like. From another company, from another business, and obviously there's different kinds of funnels for different kinds of purposes. And this is what I recommend to my customers is that you can build your own funnels inside of your own website if you know the steps. And if you Google the call to action, let's say for example, you want a funnel for an ebook. Just Google funnel for ebook. What are the steps? You can take a look online. People will outline it for you. And you can just take that outline and construct your own funnel inside your website or have whoever's running your website do it for you. And there you go. No need for two pieces of software. It's all in one place. You get the traffic going to the same place. You can manage everything in one place. And yeah, there's a little bit more work on a few more steps, but it's not like you're creating a funnel every 5 minutes. You're probably have a few key funnels in your business. You set them up. You optimize them, you tweak them. That's pretty much it. Pretty simple. I got more on today's topic, but before that, let me share with you some of our favorite tools. We all know the power of an email list and growing our email list, but managing it automating our emails, making sure they actually get into the inbox, that's where ConvertKit comes in. ConvertKit is an all in one email marketing platform. I've used a lot of different email marketing platforms. And we use ConvertKit for a reason. It just works.

Omar Mcdonald Google
A highlight from How To Create A MORNING ROUTINE To Achieve Your MOST AMBITIOUS GOALS In 2023 | Tom Bilyeu

Impact Theory with Tom Bilyeu

06:18 min | 2 d ago

A highlight from How To Create A MORNING ROUTINE To Achieve Your MOST AMBITIOUS GOALS In 2023 | Tom Bilyeu

"Let us dive into the very first question. This one comes from Louis Christine in being. This is from the connect inbox. Do you follow any morning routine if so, what does your morning routine look like and what is your thought process behind doing each of these actions? Okay, here it goes. First of all, your morning routine starts the night before. So go to bed early. Now, I used to say that like a religion I was in bed by 9 p.m., but now my schedule has gotten a little out of whack. We've got a new piece of content. Called real impact, by the way, for anybody that's into film and TV and the mindset that you can glean from that. You can go to YouTube dot com slash impact theory studios and check that out, but that routinely now has me seeing movies at far past my bedtime. But I tried to go to bed as close to 9 as humanly possible every night, save for the weekends, and in that I sleep without an alarm, so I wake up when I wake up, the reason that I do that is because I want to get as much sleep as I need. So I'm all about cognitive optimization. So I'm not somebody who sets the alarm to make sure that I'm up at four in the morning, but when I wake up at four in the morning, I'm a very happy camper. I usually get, it used to be between 5 and 6. I'm now getting between 7 and 8. I have no idea why it changed completely randomly and as far as I can tell without reason. But I wake up when I wake up, I give myself ten minutes to get out of bed and I do that because I'm lazy and my inclination is to lay in bed so I need a bright line that says I get out of bed immediately without wasting time. So I'm out of bed and out of bed in ten minutes or less, I put my gym clothes next to my bed so that the easiest answer is to put my gym clothes on. In fact, I'd have to make a conscious choice not to, which thusly would trigger in me a lot of conflict, emotionally because it is my identity to immediately go to the gym to work out again, partly for cognitive optimization and then also for longevity for health and for aesthetics. But working out, I think, is incredibly important. And I actually think that for anybody that wants to achieve something extraordinary in their life that the third thing that you need to focus on is mindset. The first two are diet and exercise. Followed by mindset. So I hit the gym. First and foremost, immediately after the gym, I meditate, and the reason that I do that is because I want to practice going from the sympathetic nervous system, which is fight or flight, which you're triggering in the gym, through the heavy exertion, your heart rate is up, your breathing is shallow and rapid. And the idea is to very quickly switch over into the parasympathetic nervous system where you're getting into rest and digest where you're calming all of that down, you're slowing your breath, your diaphragm breathing into the nose out through the mouth and really calming everything down. And I think practicing that transition is very important. And so that's why I do them back to back, but then on top of that, just meditating for any reason I think is really important. And doing that gets you into a calm and creative state, which is where all of your anxiety, all of your stress is drop down to zero and I also think that we think on multiple levels, you've got the thinking that is truly you hear the voice and the words articulated in your mind, but you also have below that where you have the notion without the actual words and I think either below that or beside that you also have just sort of an emotional level of thinking where you're feeling whatever is going on. And I think that you want to quiet all of those down so that you can truly get into that calm creative state and I really feel the difference in my brain, which is why I think that meditating is insanely important. And I think much like fasting, it's really where you want to not be taxing your metabolic processes and it's not that I think there are a lot of studies out there that show that doing that increases the efficiency of your mitochondria and a whole host of other benefits, including insulin sensitivity and on and on. I think that there's a very similar effect that happens when you meditate where you're literally fasting from thought or at least you're trying to get out of thought and into that calm creative space for as much of the time that you're meditating as possible. You're going to find that your mind wanders is just what the mind does, but you really can quiet it down quite a down. I think in quieting it down, there is some effect I don't know what the actual neurological effect is. But the effects of that what you feel is a deep sense of calm, relaxation and it's incredibly powerful for them having your most potent ideas and biggest breakthroughs. After I do that, then I do what I call thinking, which is leveraging that state to then process through in a very conscious way, all of the things that I'm dealing with in my business or my life. And I won't go into too much detail and think it, but basically allow yourself to actually think we're in meditation trying not to. And then after that, I read, which I think is incredibly important. I think you should always be learning. I think that's really, really important to have in great ideas to solving problems, whatever it is to getting better. You need to just always always always be learning. And then after that, I have a list called important things and I go through my important things list and that is literally just a list of the most important things I could be doing for my business and the reason that I keep a list is because I don't ever want to waste time in a transitional moment trying to think of what I should be doing or focusing on. I want that list. Also, studies have shown that journaling before you go to bed simply by listing the things you need to do allows you to sleep. And so this may be one of the reasons that I have such an easy time falling asleep is I know everything that I should be working on. Everything that I've thought about is not only written down, it's in priority order. And so there isn't a cycle of my brain, like remember, remember, remember, which I think is part of what keeps people awake. So there you have it. That's my morning routine after that, then I get ready and I often read, by the way, because I do audible books while I'm getting ready, I read through, making my first meal, which comes after all of that. And there you have it. That's my morning routine. And I think behind it. All right, next question is from Daniel breeze. Hi, Tom, I go to bed at 9. My man, alarm at 5 30, shame on you. It's still not enough sleep get more. I've want to wake up without the alarm. Any tips on how to feel rested with less sleep. I have absolutely no tips on how to feel rested with less sleep. My only tip is how to feel rested,

Louis Christine Youtube Daniel Breeze TOM
A highlight from The Surprising Psychology Behind Risk Taking with Bobby DeMars

Entrepreneur on FIRE

05:20 min | 2 d ago

A highlight from The Surprising Psychology Behind Risk Taking with Bobby DeMars

"Bobby, say what's up to fire nation and share something that you believe about becoming successful that most people disagree with? Hey, thank you so much for having what's up, fire nation. Boom, boom, shake the room. You know what a lot of people disagree with success. People think that success is about money. And success really is a mindset. I always say success is a choice. And that doesn't mean that you just have to will it into reality and you just gotta want it enough. Look, at the end of the day, you have to get lucky, right? And I had to find success as the happiness of the people that are in my life. So if my wife is happy, then I'm a successful husband, if my kids are happy, then I'm a successful father. If my investors are happy, if my employees are happy, then I feel like I am a successful business owner. And so yeah, the bottom line keeps you in business, but at the end of the day, you have to wake up motivating you have to wake up happy and making sure everyone around you is happy and loved is an important part of it. So that's really how I define success. I love that definition. In fire nation, that might not be the only thing that surprises you today. Because we're talking about the surprising psychology behind risk-taking. Bobby college prepares us for a lot of things. Parties, early morning classes, late night cram Sessions, but what's something that college doesn't prepare us for. When it comes to starting a business. So I went to USC, I was in the business school. I was also there on a football scholarship. And I was also in the film school. So I literally had, I got up at 5, we got home at 12. And one of those hard things. And I thought every day was going to be this inspiring thing that taught me about real life. And it really wasn't because starting the business is basically starting something with extreme uncertainty and it's stressful. And I never once had a professor that told me about the stresses that were going to come with waking up at four in the morning. We're anxiety kicks you out of bed. What it's like to ask friends for money. What it's like to ask strangers for money one O one. nothing related to that. Or, you know, just what's going to happen when you're going to see get obstacles and hurdles and things that you can't see along the way. The sensation of having an important meeting with investors where you feel like your business plan and the budget and the lifeblood of actually starting to think you want to start is on the line. Business school gives you a pedigree to a certain degree of having accomplished a status, I guess you could say. And I'm not saying don't go to college. Yeah, you kind of want that pedigree. You want a little bit of credibility when you're talking to people, but you're going to learn about finance, you're going to learn about marketing, and you're going to learn about operational behavior. You're going to learn about things that you may not even be doing in life. But they're not going to tell you about that gut punch that you get sometimes in the morning. And a lot of people think risk takers are always intelligent people. And I think we all have these friends around us that are successful. We're like, how did Randy do it? He's not that smart. Well, Randy took a risk, Randy actually got up and did something. There's something I call the 4% where if you look at a population, you might say, okay, about 20% of the people out there are risk takers. And if you look at the population again, you might say, okay, 20% of the people out there are creative or intelligent enough to be successful. They're not the same people. So if you're looking at all the risk takers, the 20% of the risk takers out there, 80% of them really aren't that creative or intelligent. It has everything to do with the fact that they took the risk. And yes, luck plays a role. You got to put enough buckets out there to get them out of water that you need. rains. You can roll the dice and not come up lucky at the end of the day and you have to be emotionally prepared for that and be okay with that. And it's better to have tried and failed and tried your best than to live with regrets later on. A lot of value bombs already fire nation because this is the reality. There's a lot of things that college will not prepare for. When it comes to starting a business, because starting a business is stressful. And we've been talking about this already, but I want to get more specific Bobby about some of those stressors. You know, at the end of the day, innovation is hard, change is difficult. Whether you're growing as a company, you're growing as a person. Hey, look, if it was easy, everybody would do it, right? And I remind myself of that all the time, raising money, asking people for money is not a fun thing when you're looking at, wow, these people are determining my long-term success. But when you're meeting with people, they're not investing in products or ideas. They're usually investing in people. So if you go into a meeting and you're desperate, I'm telling you, people can smell desperation. You're not going to get that money. When I was starting blind barrels, one of the things that I did is I floated the idea out with friends and family to just be like, hey, what do you think of this idea? Am I crazy? And out of the 15 people that I ask 14 said, man, if there's a chance for me to invest, I'd love to invest. And that was great validity the idea, but then it also created this whole, oh my God, I know these people. I got to talk to these people for the rest of my life. You know, my neighbor across the street, who invested quite a bit of money. I tried to talk them out of it.

Bobby College Randy Bobby USC Football
A highlight from MBA2186 How to Market During a Recession

The $100 MBA Show

08:26 min | 2 d ago

A highlight from MBA2186 How to Market During a Recession

"Into it. Let's get down to business. Let's be honest, business is notoriously difficult. But I can help you become a better entrepreneur, a 100% guaranteed. With my all new $100 MBA live program. Join me for two days live online and transform yourself as an entrepreneur and your business in the process. You'll learn how to build a business that you're proud of and make a very healthy living. You learn how to make faster, more confident decisions, how to shape a clear vision and system to journey more leads in sales than ever before, how to have more time for yourself, how to hire a players on your team and how to scale your business so the business is working for you and not the other way around. If you want to make a transformational change as an entrepreneur, in just two days of training, join me live for the hundred RBA program, go to one zero zero NBA dot net slash live to enroll in our next cohort. Enrollment is now open to act quickly because we're going to be starting very soon. And remember, it's a 100% guaranteed. So if after the first day of training, you don't feel like you got enough value, the value I promised, just let me know and I will give you a full refund. Head on over to one zero zero NBA dot net slash live and sign up for our next live two day course. We also love WP engine. We host all our websites on WP engine and it's for good reason. It's the best. It's super fast. It's secure and their support team is out of this world. It's like having your own technicians on call 24/7. Most of the time, when I need something done and I get on chat, they don't tell me what to do. They just do it for me. Exactly what I want. If you're hosting a website, especially a WordPress website, check out WP engine, and as a listener of the show, you can get 20% off. Just go to WP ENG dot IN slash MBA and use code WP two zero off. WP engine, the best way to host your website. Many businesses slow down or even stop all their marketing during a recession. They just say, hey, I don't want to spend money right now on a tiny budgets and marketing needs to go. I'm here to tell you that that is a mistake. The recessions are some of the best times to market. And it's the businesses that utilize recessions that come out of a recession, the market leader in their niche. Cheaper to market during recession. There's less competition. There's less noise. You can lock long-term deals when it comes to advertising and marketing that can serve you even after a recession. But even with all that, you need to make sure you're doing your marketing right. Your messaging is right to your customers during this period of time. Generally, when you're marketing to customers, whether you have a B2B or B2C during a booming economy, marketing to advantages and benefits, and even ROI and growth, if you're a B2B, are usually the avenues that people take when it comes to their marketing, their ads, their messaging, their copy. During a recession, it's all about value. People want a good value. Does this mean you need to change your product? No, it just means you need to show how your product is more valuable, how it's actually a smart idea to buy now. Remember, during a recession, people want to be wise about their money. They want to make smart decisions. They want to feel like they're doing the right thing. They're more conscious of how they're spending. So you need to fulfill that need. Make them feel like, hey, this is a good deal. And you're getting a lot more than you're paying for. So how do you do that? Well, it's all about showing the value. It's all about showing what your product or service actually does for them in comparison to the price. So for example, if you have a software tool, maybe your software will help them replace a few of the tools they already have, saving them some money. Maybe you're a service that can actually do the work for less money than they're doing right now. Outsourcing to freelancers or employees. Or maybe your customers are consumers, and you could show them how your product lasts longer than the competition, meaning that you don't need to buy so frequently you can just buy your product in a last much longer. I did this with my clothing line. Our products were not cheap, but they're really good quality. Our dress shirts started at a $100 each. But my dress shirts lasted longer. And were machine washable so you'd save money on dry cleaning. And I actually had a picture of a $100 dress shirt from Macy's being washed 30 times, and my dress shirt that I sold in my ecommerce store, being washed 30 times. And mine looked brand new versus the other dresser that I got from Macy's look like it's ready for the trash. And they say a picture is worth a thousand words. And this showed value. This is how I changed my marketing during a recession. The show people, hey, pay $100 now, but you won't have to pay over and over and over. I also focus on products like dress shirts because it was easy for me to show value in that way because people use dress shirts all the time. They go to work every day. I knew firsthand because I was an English teacher at the time I was building this business and I had to wear a dress shirt every day because it was a suit to the university I was working at. So it's a product they're going to have to use versus me trying to push cuff links or ascots. That's a little bit of a luxury item. And they're not going to use that every day. And it's hard for me to show value. Sometimes recessions are a time for you to allow certain products to shine by flexing their value in the long term. One of the strategies I highly recommend is getting in front of the fact that it is a recession. And people are trying to look for value and just get in front of it and say it in your marketing. So if you're running a deal where people are going to get significant savings, if they sign up for a year or two years, say so, say, hey, lock in this incredible price for two years and save X amount of dollars every single month. These are dolls you can use during an economy like this. Boom, value, people buy into that type of marketing because it screams smart purchase. Another tip that I recommend it comes to your marketing when you're writing your copy or your sales copy or you're creating your videos or whatever it is is to get in front of the emotions. During your session, people start to feel a little bit depressed. They feel like they can't enjoy life as much as they used to. So address that and say, hey, just because times are tight, doesn't mean you can't enjoy life or enjoy your work or enjoy whatever your product is about. Treat yourself while getting a great deal. Language like this taps into the actual climate and emotions that are going on, people resonate with it because they can see themselves in that language. And once people start seeing themselves, they're open to hearing what you have to say and agreeing with your solution. Next, market your risk reversal. Risk reversal means your money back guarantees your free trials, your refund policy, whatever you do in your business to say, hey, if you don't like it, you can cancel, or you can get a refund. This needs to be in the forefront of your marketing. Make sure you emphasize this on your sales pages in your ads even. Why? Because people take longer to make a buying decision during a recession. They want to make sure they're making the right choice, they're not sure money is tight, and they just feel like they can't afford to make a mistake. So if you make it a no brainer and say, hey, there is no way you can make a mistake because if you don't like it, we'll give you your money back or you can try before you buy with a trial. Emphasizing these risk reversals that you have in your business shows a customer, the risk is all on you. You're taking on the risk they have no risk. You can take your time in making a decision during the 30 day money back guarantee period, or during your 14 day trial. This releases the pressure valve and allows them to feel like, hey, this is not the end of the world if I buy this. If it doesn't work out for me, if I don't like it, I can always refund it or cancel. Now, of course, your job is when they do buy is to win them over and make them feel like, hey, I don't want to cancel. I don't want to refund. This was actually a great buy. I got more on today's topic but before that, let me share with you some of our favorite tools. We

NBA RBA Macy
A highlight from S7 Bonus: Juan Soberanis, Beacon

Code Story

08:03 min | 3 d ago

A highlight from S7 Bonus: Juan Soberanis, Beacon

"Story. The podcast bringing you interviews with tech visionaries. Who share in the critical minds of what it takes to change an industry and build and lead a team that has your back. I'm your host, Noah lab part. And today he'll won sober honest is leading the charge to give you a secure way to find your people. All this and more. On code story. Back in 1986, Juan soberanis and his family got a personal computer for the house, a Commodore one 28. He asked his mother if he could take it to his room and taught himself how to program and of course he did some gaming on it as well. This was the genesis of his career path. Outside of tech, he has kids in their 20s and spent a lot of his free time hiking and being outdoors. Wanna spend working with startups for quite some time. At one point in his career, he became a contractor doing mobile development. Through a number of contracts with a specific investor, one found himself as the CTO of a startup, pitching an idea for what is his current venture. This is the creation story of Beacon. There is what I call the rise of consumer privacy tech. And that's driven by apps like telegram, signal, duck, duck, go, and a brave browser. And together, those apps have about 700 million monthly active users. And what's that that's done is it's created a lot of demand for high security location sharing in order to find your family and friends. So we're working on bringing that to market with location sharing with end to end encryption to ensure that people's location data can not be sold, tracked, abused in any kind of way. From anybody. Even for me, with access to the database, I can't see people's location data. It's just all gobbledygook because it's encrypted. So that's what we're working on. We intend to be the gold standard for location sharing security, much like signal is to messaging today. I worked for startups for a long time, and I live in the north bay and San Francisco Bay Area. And the commute was very long. It was maybe three hours a day total, and I just got burnt out in the commute. And so one day I decided to become a contractor. And I contracted for a number of years worked from home. Got this contract through word of mouth. It was very small. It was about a weeklong contract. It was to bring their cross platform code, building and running on Android. So I got that work done. One week turned into a two week contract, and then a month, and then that turned into a yearlong contract, and then they brought me on full-time permanent. And this was for a very small startup basement in the north bay. There were some personnel changes and time went on, and eventually long story short, I became CTO of this small startup that was, like I said, in the north bay. And then after a year or two, that that startup was failing. So I pitched the investor on an idea similar to this. And he decided to invest in the company and I became cofounder and CEO of this company based off of that history. Let's dive into what would be the MVP. Can we put that first product you built? How long did it take to build? And what sort of tools did you use to bring it to life? So the previous startup that I told you about that I was CTO of, we were working on AWS technology, right? And that technology is amazing. I mean, there's so much you can do with AWS. But it is also very complicated. So we had a great engineer out in England who knew how to do all the DevOps and all the AWS ins and outs. And we had about maybe three full-time engineers. Working on the project, you know, QA developed the usual. It turns out because we needed to pivot because we really needed to go fast and we needed to reduce our burn rate. We could not use AWS anymore and do all that at the same time, reduce our burn rate and be able to pivot quickly. So the technology decision that I made going from the one startup to the next was to move away from AWS. And use Firebase. And that was only because I could reduce the team size and a client's developer that is the app developer me could also do the server development because Firebase is so approachable. By and large, it what it did is it we reduced our burn rate. We went from three engineers down to one. I was able to give it the technology pretty quickly. Now, it took about three months to get to our one and VP. And that was just from one and a half engineers I would say. And we learned quite a bit after that. And I would say that we did a pretty significant pivot from one to two, which is what's in the marketplace today. And I would say from one to two was another three months. So with that MVP, I hear the timing here, you went about it. I'm curious about decisions and tradeoffs you had to make. Maybe it's feature cut, technical debt. Those types of things, but digging into those decisions and how you coped with those decisions specifically. The biggest tradeoff has been quality by far. And when I say quality, I mean from top to bottom. So in terms of stability, we're pretty stable. I mean, if you look at the crash numbers and whatnot, it's pretty stable considering. But I just usability, you know, just like little glitches here and there and animations that aren't that don't exist that should and things like that by top to bottom. I mean, UX, graphic design, all the way down to the code. And that's because we need to move fast and we need to experiment and see how the market reacts. Without investing too much into the feature sets that we may just throw away. So we're kind of an experimental phase improving out the top level messaging and the market position. It drives our QA engineered nets because we have a kind of a backlog of bugs. And I was like, yeah, yeah, next version next version. Today's episode is sponsored by Mabel. 32% of customers leave a brand after single bad experience. Yet as teams adopt agile practices, testing gets left behind. Bug slip into production, or there's a massive rush to test code before it reaches prod. To build and ship high quality apps quickly, you need a customer focused testing strategy. And that's where Mabel comes in. Mabel is the intelligent test automation platform for quality engineering. With Mabel, you can focus on quality, not fixes. Everyone from developers, automation engineers, manual testers, and business stakeholders can build, execute, and maintain customer centric test. Check them out at Mabel dot com slash code story to start testing your web application for free. This episode is brought to you by support zebra. Let's face it. Having a world class customer support team is critical in the world today. In fact, it's mandatory. But how do you build not only a scalable team, but one who is guaranteed to hit the most important metrics? Meat support zebra. Support zebra's supports, the world's fastest growing companies by building scalable world class customer support teams for SaaS, FinTech, and ecommerce companies. They offer outsource resources for customer support, technical support, back office administration and content moderation. Their staff is available 24/7 and is the happiest customer facing staff in the industry. There are no contracts, and you get to select your dreams for team. And believe it or not, they have less than 1% customer turn rate. So you could say their customers are happy.

North Bay Juan Soberanis Mabel San Francisco Bay Area England
A highlight from Finding Your Sales Transformation Through Podcasting with Collin Mitchell

Entrepreneur on FIRE

01:24 min | 3 d ago

A highlight from Finding Your Sales Transformation Through Podcasting with Collin Mitchell

"Light that spark fire nation, jail D here, and welcome to entrepreneurs on fire, brought to you by the HubSpot podcast network with great shows like I digress. Today we'll be breaking down finding your sales transformation through podcasting to drop these value bombs, I have brought Colin Mitchell into eo fire studios. Colin is the host of sales transformation is currently cofounder and CRO of sales cast as a four X founder. He is passionate about sales entrepreneurship in podcasting. And today for our nation, we'll talk about sales transformation. We'll talk about how podcasting changes the way you sell. We'll talk about creating a revenue on a podcast and a big thank you for sponsoring today's episode, go to Colin and our sponsors. Looking for a place where you can experience live interactions with your audience, then speak easy is for you. I'm loving creating daily content on speakeasy. And I know you will, too, visit get speakeasy dot com to download the app and go live today. Success story hosted by Scott D clary, is brought to you by the HubSpot podcast network. The audio destination for business professionals success story features Q&A keynote presentations and convos on sales marketing and more. A recent episode on how to protect your business in times of crisis is a must listen. Listen to success story, wherever you get your podcasts.

Colin Mitchell Colin Scott D Clary
A highlight from MBA2185 Q&A Wednesday: How do I not hire the wrong person?

The $100 MBA Show

15:20 min | 3 d ago

A highlight from MBA2185 Q&A Wednesday: How do I not hire the wrong person?

"After the first day of training, you don't feel like you got enough value, the value I promised, just let me know and I will give you a full refund. Head on over to one zero zero NBA dot net slash live and sign up for our next live two day course. We also love WP engine. We host all our websites on WP engine and it's for good reason. It's the best. It's super fast, it's secure, and their support team is out of this world. It's like having your own technicians on call 24/7. Most of the time, when I need something done, and I get on chat, they don't tell me what to do. They just do it for me. Exactly what I want. If you're hosting a website, especially a WordPress website, check out WP engine, and as a listener of the show, you can get 20% off. Just go to WP ENG dot IN slash MBA and use code WP E two zero off. WP engine, the best way to host your website. The first step in making sure you don't hire the wrong person when you're hiring a new team member is first recognizing the fact that you are responsible for making the wrong hires in the past. This is your responsibility as the company owner. The reason why this is so important is that you have to take ownership of this responsibility. You have to realize that if somebody didn't work out in your team, ultimately this is your fault. Ultimately, you let them into your team. You hired them. You made a decision to say yes, this person is good enough to be part of my team. And once you own up to that, you realize, well, that means I have control and I can change the outcome. I can change the way I make hires and choose my candidates so that I don't make this mistake. But a lot of entrepreneurs, especially at the start of their career, they play the blame game. They say, oh, that person wasn't hardworking or they didn't care enough or the less experienced or maybe the fib on their CV or their resume, that may be all true, but it's not their responsibility to be chosen by you. You are responsible. You are responsible for letting them into your company. And once I realized that, in my career, as an entrepreneur, I started to realize, okay, I have to take ownership of this and I got to take control of the whole process so I can have a better outcome. So once we get past that step, the next thing that I recommend you focusing on when you're hiring a new team member for a new position or even an existing position that you have right now is to be crystal clear about what you're looking for. This is where a lot of people make a mistake. They have a job description that they post on job boards, but it's not very specific. It's actually quite generic. Some people just copy and paste other people's job posts and just change a few things and say, okay, that should get the person I want. No, your job advertises on these job sites, and even your own website is the leading factor of who you will attract. You need to make a crystal clear on your job description, who you're looking for, why they should apply, what it's like to work for you, what should they expect when they are employed by you? So take the time to write a job description that is specific and is specific to your business and your expectations. Basically, your job description is to say, if you can do these things and you do them well, you're going to have a job for life at my company. A lot of people over complicate this. It doesn't have to be this 5 page essay of a job description. You can make it your own. You can keep it short. You can keep a specific. You can write it in layman's terms. You want to make a casual or even show your personality. That's fine, too. But don't make it generic. Don't make it vague or too general. Be specific about what you're looking for. For example, we're currently hiring some engineers. If you go to a webinar in Asia dot com slash jobs, you can see our job posts. We're very specific about what we expect from our engineers. You have to be a problem solver and enjoy solving difficult problems. If you don't enjoy solving difficult problems, you're going to hate working for us, because that's what we're going to give you. And if you hate working for us, you're probably not going to do so well. And it's not just about skills. It's also about the culture and the way you work in your companies. For example, in our company, we specifically say you have to be willing to communicate regularly frequently, be able to jump on a video call showing your face when needed. If you're not comfortable being on a video call, having your camera on to hash out a quick problem or to discuss something, don't apply. This is not the place for you. We will not make concessions, okay? If you think this is optional, then we're going to have a hard time. So your job description is really, really important. Next tip. So at the end of our job descriptions, we have a link to an application. This application is a way for us to vet people before they even have a chance for an interview. And depending on the position, we will ask specific questions about their past about their experiences about what they love about their job, why they want to work specifically for us. We may even ask them to submit a video answering some of these questions. So we can see the personality on camera. Now, not everybody's comfortable in photo video. We're not asking them to give an Oscar nominated performance here. We just want them to know that they're expected to communicate via video sometimes because we're a mo team and if they are not willing to do that, then they're probably not going to apply. So again, we're putting up some friction on purpose so that we can qualify candidates before we even have an interview. Forget about hiring them. Before we even talk to them in a meeting. Next, before we even have an interview, we check references. There's no point in us even having a conversation to see for a good fit or knowledgeable or you have the skills to do the job. All this is irrelevant if you're past employers can't recommend you. If you don't have a track record, I can't predict the future people change, of course, but when it comes to hiring, the best indication of what's going to happen in the future is somebody's track record. What happened in the past? Well, they've already done. They're more likely to do it again if they've done it before. In a positive way, if they are hardworking and they show up to work on time and they do their things properly and they have a good work ethic and they have a great attitude and they're a fast learner. There's a good chance that they'll do that at my place because they've done this before. So we asked the candidates to send us some of their professional references. Somebody that we can contact phone or email to ask about what their experience was like working with you or for them. And we usually ask a supervisor or who their supervisor was at the time, a line manager of some sort. Now, we don't ask for their current manager because sometimes it's a little bit of an iffy situation. Maybe they want to tell their employer that they're looking for work. So we ask them to maybe give us references from other employers prior to their current job. Once they pass that hurdle, most of the work of qualifying this candidate and making sure that you have a pretty good chance this person is actually legit and good enough for your team and a good fit is done. I would say about 80% of the work is done. Now, if they've passed all that stuff, we have a culture interview. What does that mean? We have an interview just to see if they're a good fit for our team. And for us, at webinar engine, it's very simple. How do we feel after we have a conversation with them? Do we feel motivated? Do we feel positive? Do we feel more confident about them joining the team? Do we just enjoy their company? This is important because we're going to be working with them day in and day out 8, 9, ten hours a day, 40, 50, 60 hours a week, and not just us. Everybody else on the team is going to have to do the same thing. So it's important that they get along with everybody. That they're likeable that we want to spend time with them. That they're a good fit for our culture. Sometimes in these interviews, we meet people that are fine people. They're good people. But they're just not a good match for the rest of the team. And I would be doing them a disservice as well as the rest of the teammates of disservice if I hired them. So we need to make sure that they are good fit culturally and they share the same values as us and we have 5 core values in our company that we want to make sure everybody has before we hire them. So if you haven't decided to run down the values of your company, I highly recommend you do it. It's actually makes it really helpful when it's time to hire. So, for example, one of our values as a company is everybody on the team has to have a growth mindset, meaning that they're willing to learn and grow because if we don't grow, if we all collectively don't grow the company won't grow. We ask questions to find out if they have that value. Once they pass that cultural and values type of interview, we move on to the technical interview. Where somebody in their department that we're hiring for will do the technical interview. So if they're an engineer, our CTO will interview them if there are customer service agent, the customer service manager will interview them. You get the point. This is more of a technical interview where we basically test their skills and usually in this interview we get them to do some exercises, some questions they have to think about, maybe write down some things. Maybe even answer some live customer support tickets if they're a support agent, for example, they wouldn't be answering a real customer, but we present them similar questions and ask them to type their answer as if they're typing the answer in an email or a chat message. This is the only real way we can find out if they could do the job. Usually after all these steps, we have a good understanding if they're going to make it. If they're going to be a good person for the job. Now, even with all of this, in my experience, I have found that sometimes things get through the cracks, sometimes we don't see everything. And that's why when we hire new team members, we have a three month what we call probation period, which means it's three months where you can leave or we can say goodbye to you at any time. It's sort of like a trial period. And a lot of times we over hire in the position, meaning we hire two or even three people instead of one because we want to see who would work the best in that position. Now, if all of them are great, fantastic. We've got a great set of employees and great redundancy in this area. But in my experience, that rarely happens, especially if you hire two people, usually one of them is going to really shine the other one's not going to do so well. And because you have this trial period, you could have some evaluations, you can have some chats. If you could see some improvement, great, if you don't, no hard feelings, they know they are expecting this if they don't perform well. I got more on today's Q&A Wednesday's question. How do I make sure I do not make the wrong hire? But before that, let me share with you some of our favorite tools. We all know the power of an email list and growing our email list, but managing it automating our emails, making sure they actually get into the inbox, that's where ConvertKit comes in. ConvertKit is an all in one email marketing platform. I've used a lot of different email marketing platforms. And we use ConvertKit for reason. It just works. It does what you need it to do. It's simple. It's easy. And it keeps improving every single day. Plus, you can start for free. Go ahead to one zero zero NBA dot net slash ConvertKit to get started. Support for today's show comes from a webinar ninja. Know what really sells your product or service, it's not marketing or ads. It's you, your blog, your social feeds, your podcast. These are always we try to share ourselves our value and build trust with our audience. But what if you can go even further? What if you can connect with potential clients or customers in a way that's even more personal, more engaging, more effective? Well, that's where webinars and webinar ninja comes in. Hosting a live lesson, product showcase, or Q&A session, is the best way to share yourself and prove yourself to an audience. But wait, you're thinking, aren't webinars a giant pain in the ass? Yes. Yes, they are. But not with webinar ninja. Webinar ninja has one job to make webinars easy for you. It's the user friendly software ever created for webinars. So you can focus on your audience, not the tech. And here's the best part. You can get started with webinar ninja for free. Every plan comes with a free 14 day trial. And because you're a listener of this podcast, we got a real special deal for you. Go to webinar ninja dot com and at checkout, use promo code MBA. And you'll get 15% off your first month or your first year. Again, that's webinar ninja dot com use promo code MBA for 15% off your first month or your first year. Can't wait to see you inside the software and our community. To rob titties lesson, hiring the right person is critical. So I like to tell myself and everybody on my team, when we're hiring, take your time. We like to hire slowly because we don't want to fire. We want to make sure that we have the right person. But when we do have the fire, in my experience, it's never a slow process. It's usually very clear very quickly. And delaying it is kind of delaying the inevitable. And every time I have to do that, I say to myself, how can I prevent this from happening again? And just refine, again, my hiring process. Because firing is not fun. It's one of the worst days of your year or month as a business owner. So even if it takes you a little bit longer to make the higher, it's better for your company in the long run, it's better for your team so they have stability, they don't feel that instability people coming and going all the time. And it's better for you as a business owner feeling that you have some momentum. Thanks so much for listening to the $100 show. Thanks Eduardo for asking this question if you got a question you want to ask just like Eduardo did just email me over at Omar at one zero zero NBA dot net. And I'll make sure to answer it right here on Q&A Wednesday. If you love this show, make sure you hit subscribe or follow on your favorite podcast app. Whether you're listening on Spotify or Apple podcasts or radio, we're on every single podcast app. So go ahead and hit follow or subscribe so you don't miss the next episode. Also by doing so, you get access to our archive episodes over 2100 business lessons in our archives. Before I go, I want to leave you with this. One of the reasons why we rush hiring is because we feel like we have no time. I got all this other stuff I got to do. I got to put this job description together and vet an interview and ask questions. So two pieces of advice. Number one, 80% of the work of hiring is administrative work. Get an administrative assistant, get a VA to help you out with the back and forth. The emails pre screening, the checking the references, all that kind of stuff. Number two, make time for it. This is important. This is your business. This is somebody's going to come into your company and represent your business to your baby. Will influence its outcome influence its success, put it in your calendar, make time for it so you don't feel like you have to rush through it. Thanks so much for listening and I'll check you in tomorrow's episode. I'll see you then. Take care.

NBA Layman Oscar Asia Rob Titties Eduardo Omar Spotify Apple
A highlight from Perdue Farms: Jim Perdue

Wisdom From The Top

00:52 sec | 3 d ago

A highlight from Perdue Farms: Jim Perdue

"From luminary built in productions and NPR is wisdom from the top. Stories of crisis, failure, turnaround, and triumph from some of the greatest leaders in the world. I'm gay rise and on the show today, Jim perdue, chairman, spokesman, and former CEO of Purdue farms. We get 3000 to 4000 contacts a month from consumers. Most of them complaints and that's how we learn where we have problems. And I love that. And we actually get on the call and replay the recording and how we screwed up their dinner. And then the plants are on there, and that plant manager has to answer the question about how they're going to fix it. How Jim perdue took the reins of the family meat processing business, navigated changing consumer demands and helped grow Purdue

Jim Perdue Purdue Farms NPR Purdue
A highlight from The COLLAPSE Of Crypto & FTX! - DO THIS NOW Before It's TOO LATE... | Raoul Pal

Impact Theory with Tom Bilyeu

07:05 min | 4 d ago

A highlight from The COLLAPSE Of Crypto & FTX! - DO THIS NOW Before It's TOO LATE... | Raoul Pal

"Welcome to impact theory. Ralph, welcome back to the show. My friend, it's always good to be here. Dude, I was going to have you. It seems like we're always in some sort of tumultuous time. So FTX saga continues, it seems like fraud abounds, total mayhem, how far does that go? What do you think is going to happen to crypto now? I think even the last time we talked about, we need to pass out crypto into component parts of people understand because if it feels like this huge cluster fuck going on and nobody knows what it is. Firstly, the central banks are taking liquidity out of the system and have been for a while. That has hit all assets. And so crypto down 75%, much like many technology stocks around about the same. So that's been going on. That's been putting the market under pressure. At the same time, when you get to the bottom of the liquidity cycle, if you think about it, if you think there's a bunch of people in the street saying, hey, buddy, can you lend me a buck? And as you've only got 5 bucks and there's ten people asking, well, 5 people aren't going to get it. And that's what happened to the bottom of the liquidity cycle. Those who really need money don't get it. And they blow up. So in June, the we spoke in the aftermath of that, that was basically the blowing up of liquidity cycle. Suddenly you find out that all of the people who are running leverage in crypto were getting blown up and they couldn't get any money from borrowers or they couldn't get any money from investors. And so that had this huge ramification, so June was actually worse than now, because pretty much it triggered everything. Do you think it was psychologically? Because right now I feel like the biggest right now. This is the I'll come on to this in a sec. But yes, so June was the actual damage. That was the basic the nuke button to say leveraging crypto as we've always talked about don't get together, right? So that blew up massive balance sheets, three arrows capital, all of them. But one of them was hidden, and we didn't know, and that was Alameda. We knew there were a massive shop, we knew there were kind of a bit sketchy, but they kind of said it's fine, but they weren't fine. So at that point, they were probably $9 billion in the hole. Which is a staggering amount of money. Now we don't know the exact numbers yet, and we won't do for a long time. But they were a staggering amount of money in the whole. And that was papered over by FTX. When you say papered over, what does that mean? They gave them FTT tokens, which is the token that is part of the FTX ecosystem that they control an Alameda control. And then gave them a loan against it. That's what it first appeared, but the plots thickened a lot since then, but that's to basically they actually went under in June. So what we're seeing now is the end of the June thing. It was the bit that didn't happen that did happen if you know what I mean. So they were able to hide it on paper, keep the perception that they were fine. And when you say they, I assume you mean FTX loaned Alameda FTT to quote unquote paper over their losses and make it look like they still had. And then they gave them cash in exchange for that collateral, but that cash was customer money. Right, now this is we're in the realms of bad, bad. That's what the story appeared to be. And I have been speaking a few times and said, well, you can kind of understand that if Sam bankman free is going to lose his entire empire in June, you might be psychologically pushed to do something bad in the hope that maybe you can avert it, right? If the 10% chance is worth it. But I asked the question a while ago and I did this big Twitter spaces like it is not clear to me that there wasn't systemic fraud in this whole thing to start with. The story is now coming out. It's coming out in waves. Again, nothing is verified here. But it's starting to appear that FTX was just a front for Alameda. To capture customer order flow to give them an advantage it's now becoming clear that FTX Alameda because we can now assume they're basically the same entity, which is very bad to have a trading operation that takes advantage of customers, we've also seen that they change their strategy from being these lower risk traders doing arbitrage buying one thing selling another or very quick trading, two big position takers, and it seems that the lunar debacle was them just providing liquidity all the way and it blew them up. And they pretended it didn't hurt them. But it seems that Alameda itself had changed what he was doing. Quite a while ago and was basically a punter. Then there's the confusion of who all these people are. And half of these people don't check out properly. We then hear from the guy that the guy has gone in the CEO. Who's the now the liquidating CEO? And he's like, I've done enron, I've done all of these. This is the worst mess I've ever seen. So again, news flows coming out slowly, but it feels like there was never any proper accounting. That there was never any customer positions that weren't being used by Alameda. Again, not clear yet. That they just pulled everything together and there was no particular Bitcoin or anything else that you thought you bought on FTX that was being stored for you. Then it was just giant pool of cash that they were just abusing. And it's becoming clearer even after Sam bankman freed's tweets recently to a journalist that maybe constructed his whole personality as well. And that none of that was real. So that whole Twitter thread was really unnerving. He since came out and said, oh, I didn't know that was going to be public, but nonetheless, that was his take. From the, you know, me being the savior and doing all this for good was really just persona and it wasn't really real. And I was like, wow, I was shocked that he was so forthcoming about it. What do you think? And I know that there's going to be a lot of speculation to answer this question. But what do you think it is that he understood that allowed him to pull this off? Was it that he understood the weakness in the way that investors were getting greedy in the euphoria of the market? Does he understand something about market making that allowed him to trick people like what because when you hear how people talk about this guy, they're like, yo, he's the biggest genius ever, like this guy's amazing, very bright accomplished investors are like, this kid's the future.

Alameda Sam Bankman Ralph Ftx Alameda SEC Twitter Enron Confusion
A highlight from S7 E14: Olga Stern, Tangy Market

Code Story

07:49 min | 4 d ago

A highlight from S7 E14: Olga Stern, Tangy Market

"Story. The podcast bringing you interviews with tech visionaries. Who share in the critical minds of what it takes to change an industry and build and lead a team that has your back. I'm your host, Noah lab part. It's a day how old the stern built the platform for investing in music rights, empowering creators and every day investors. All this and more. On code story. All the stern considers herself an onion with a lot of different layers. She loves to try out new things, which has produced a lot of different hobbies in her life, like underwater rugby, floor hockey, knitting, and squash. She splits her time 50% in Stockholm, and the other half in a small village up north. In a skiing area. She's currently into ski touring. When you hike up the mountain, don't use a lift and earn your turn. Olga's cofounder has a PhD in financial flows, specifically for the music industry. She decided to pursue the democratization of music rights and create new assets for anyone to invest in. Olga joinder and started building out what would become their mobile app. This is the creation story of tangy market. Tangy market is an online marketplace where anyone can invest in music, a royalties. And on the marketplace, if you are a creator of music, for example, if you write songs or record songs or if you're an artist, then you can get kind of like an advance from our market. But it's a way to democratize the music industry by giving more financial power to the creators. But it also opens up music as a new asset class and makes it available not just for like a small group of people. You probably heard about Bruce Springsteen, for example, and Shakira, I think. They have all sold their catalogs. People are discovering that music is a huge asset class. And it's like so much money in it. But up until now, it's only been available for this small group of super rich people. And we're actually making it available for anybody who can download an app. The founder of our company, Linda, she has a PhD in financial flows in the music industry. And while she was doing her PhD, she realized that there's a problem. People like the creators aren't getting enough paid and the money is maybe not being distributed quite fairly. She heard about this idea that you could actually take music and spread it out kind of and make it an investment for other people and at the same time create an advance for those who need the money right here right now. Because usually what happens if you are a creator in music, you write a song and then maybe you record it and that takes a lot of time here and now, but you don't get paid for your work until like kind of a long time after. And if you think about a whole lifetime of a song, then usually you don't get paid like all of it at once. You have to wait like year after year when it plays on the radio or get stripped. And that's when you get paid. And instead of having to wait for all that money, you can get it in one chunk. And that way you can make an investment. So for example, we've had artists on our platform that, with the money that they've taken in from investors, they've actually hired producers to make their next album or somebody bought a synthesizer to make new music. So this is kind of a way to help the ecosystem of the music industry. So tell me about your MVP that first product you built. How long did it take to build and what sort of tools did you use to bring it to life? I started at the company in May 2020. We had a proof of concept that was made before me, and that was tested a little bit, but we realized that we had to go back to the drawing table and just figure out exactly what would our MVP be. I'm a backend developer, so frontend and design is not my strong suit, but as with everything in life, I try to do my best and sometimes it works okay. And so we just started to think about all the flows, all the user flows that needed to be there and all the screens that needed to be there. And all of the functionality that was essential. And we started drawing it up in figma. We just went from there with our figma sketches, we could then hire design company that helped us develop which colors we should use and how to make our app feel like us at the same time we started working with some really good frontend developers as well. And so I think we did the first in git in September and we launched in March, so it was like 6 very intense months of building stuff. It was a lot of fun to just, you know, go from nothing and to a figma sketch and it's like now when I think about when we were making the research for the figma sketches, like we were actually, it was like a really hot summer, so we were spending quite a lot of time not in the office, but actually at the beach. So we were sitting there working at the beach making our sketches and thinking about like, okay, how are users going to deposit money? Oh, right, you need to add the card. Okay, we need the screen for adding a card. And yeah, it was a very organic process, but I have quite a lot of experience from before of developing software, so that came really in handy of not thinking about non-essential things. When we launched we didn't have a function for resetting passwords. So our users couldn't do that. And I think we really start function maybe like one or two months after we launched and nobody had asked for that feature. I was very proud about that that prioritization. And it's all of those little things that you remove that actually let you launch your product on time. You've got your MVP and it's working. You've got to build and designed on the beach and now you've got it ready to ship or shipped and it's working. Tell me how you progress the product from there and how you matured it and I think to put that in a box a little bit what I'm looking for is how did you go about building your road map? And how did you go about deciding, okay, this is the next most important thing to build. I think in order to talk about that, I need to go back a little bit and just talk about the tech. I mean, it's a big choice to make, like, what tech are you going to use when building an app from scratch? And we decided to run everything on AWS and with the backend is built up on lambda services, so it's very kind of like microservice architecture, and it's distributed. We were using a lot of cues and stuff. And we have an API. And all of those things we use a technology called serverless application model or Sam for short, which makes it really, really easy to deploy new functionality. Thanks to kind of us choosing that technology, it

Olga Joinder Olga Stockholm Shakira Squash Bruce Springsteen Rugby Skiing Hockey Linda
A highlight from The Best Investing Strategy to Gain Riches and Build Wealth: Real Estate with Justin Colby

Entrepreneur on FIRE

05:12 min | 4 d ago

A highlight from The Best Investing Strategy to Gain Riches and Build Wealth: Real Estate with Justin Colby

"Well, real estate in my opinion is the only investment strategy and I'm not saying I don't invest in crypto or some stocks, but the reality is we're here to make a lot of money when we're on this planet. We are obligated to because money creates a life we want, right? Period end of story, I don't think anyone will disagree with that. But it's not just about the active money because the act of money can buy us the house or bias the car or buy us the things, take us on vacations. But then you want to get to a place where you absolutely don't have to do any of it. And you live the life. In that comes from passive residual income. The best way I know to do that is through real estate. There's no stock, well, I'm not going to say there's no stock. But you don't get the combination of active income through real estate and the wealth creation, which guess what banks love, they love to borrow against assets that have equity, it just becomes a triple or quadruple fold of you can create millions and millions of dollars of income, but also create this wealth that by the way will allow you and the people who understand how to leverage the wealth and assets to create more income and more wealth. A lot of people are always sitting around waiting and saying, hey, I should have invested in real estate back in 2010. I should have invested back in 1984. They're always like there's waiting for this perfect time. Let's talk about why now is the best time. Great question in the sense of we are real time going through a real estate market shift. Real time happening right now. I've been in this business for 15 years. I've done over 2000 transactions, and I can tell you I've seen a lot over the last 15 years, including the Great Recession. Why now is a great question because it's always now. Don't be the person trying to catch the falling knife. Don't be the person trying to find out where the top of the market is so you can sell or where the bottom of the market is where you can start buying, you should be buying along the way all the time. The reason I just explained. If you're doing it correctly and you know how to buy these real estate assets and you're doing it for the long term, then you're just going to be able to have wealth accumulation because if you're buying it for the rental purposes, the tenant is paying off your mortgage, you are building equity, banks love to lend against equity and the cycle continues to go. So when the down times are coming, you should be buying. When the times are rolling good, you should be buying. You always should be buying real estate. So if people are thinking like, man, okay, now he's just squashed one of my things about now is not the perfect time because there's no such thing. But the next thing that comes up is, well, I don't necessarily have money because a lot of people and this is just a reality. It's like 40% of Americans can't write an unexpected $400 check. A lot of people are in debt and there's this and there's that. So let's talk money. Do we need money to invest in real estate? Absolutely not. I bought 14 rentals last year alone with none of my own money. I will tell you there are strategies in real estate, such as wholesaling, where you never actually fundamentally buy the home, you assign the contract. I've done probably 1500 wholesale deals in my 15 year career. You can buy and rehab homes using hard money in a bridge lender for those that don't know hard money. It's more expensive money. It's not a traditional bank. They're landing on the asset, right? So the interest rates are 9, ten, 11, 12%. But then you can get a bridge lender, which could be a family member, bridges the gap. You never used any of your own money and you flipped the home and you make 20, 30, 40, $50,000. Same can be done with long-term rentals. You can go and find a lender. I have a lender that I use really well that Lima one capital. They've been great for me for long-term 30 year loans, but they lend on the asset and the person. They're not a true bank in that sense. So I call them soft money. Well, they'll lend up to 80 or 90%. I bring in bridge money and I never need a dollar of my own. Now there's a strategy in a system. You have to follow. There's no doubt. But it is a 100% possible as I improve. Now, one thing I want to kind of move into is I think a lot of people look at real estate investors and they're like, oh man, they must have gone to school for that or they had a great mentor or they just know what they're doing. They're good at business. They're smart or they were inheriting money or all these different things that people like to put up is barriers as offsets in front of them moving forward. So let's just break it down right now. Can anyone who's listening to our voices right now start investing? 100% yes. As someone who is a coach and is an educator, I take pride in my students getting their very first deal. Now my story is I started in O 7, broke bust and disgusted. I lost my home to foreclosure. I was sleeping on a couch into really win the prize, the repo man took my car. I had no job, no income. I was broke busting disgusted, not just financially, but mentally and spiritually. I mean, I was bad. But I knew

Lima
A highlight from MBA2184 Should You Run a Black Friday Promotion in 2022?

The $100 MBA Show

12:42 min | 4 d ago

A highlight from MBA2184 Should You Run a Black Friday Promotion in 2022?

"Black Friday and cyber Monday. This is where companies want to give their customers a reason to buy now. Often they promote deals that say this is the best time to buy the best deal of the year and it seems like it's a screaming match who can scream the loudest and get the most attention. And I'm here to tell you it doesn't have to be that way. I'm going to give you some options. Maybe you don't run a Black Friday deal. Maybe you do something different. Maybe you don't run a deal at all. Let's get into these details. First of all, I want to say that for the last two years, my software company webinar ninja, we don't run a typical Black Friday deal. We actually run something called green Friday. If you want to learn more, you go to webinar, ninja dot com slash green Friday. What's green Friday? Well, it's our way to say, hey, we know our customers are maybe interested in a deal. They're reaching out. Are you running some sort of promotion? But at the same time, we want to do something that's more aligned with our values. So instead of pushing promotions and special discounts, what we do on green Friday is we plant trees. We plant 20 trees for every new customer that signs up for an annual plan or customers that upgrade to an annual plan. So if you were thinking about buying our software anyway, this might help you want to do it now because you'll be able to help the earth and get some trees planted. We also give a really cool certificate that shows that you have planted 20 trees. It's kind of a nice thing that you can print out and hang on your wall. But along with that, we also throw in some add on products that we don't normally offer to reward people for taking action and helping our earth be a little greener. We make it very clear to people on the page where this promotion is that, hey, if you don't want to buy, don't buy no pressure. But if you're going to buy anyway, buy during these days so we can plant some trees on your behalf. And this is just more aligned with who we are as a company. That's what we do. Something a little bit different, something that is not the typical Black Friday. There's no discounts. There are some special things that we're going to be giving them, but it's our way to kind of stand out from the noise. Now, I know companies that don't do a Black Friday deal at all. Cyber Monday, nothing. Instead, they do a day to celebrate their business. It's kind of like their business's birthday. Especially the day that they started their business. This is very similar to Amazon Prime day, where they basically run a celebration offer during a time of year that is not really celebrated as a holiday on the calendar. Now the reason why these companies do this is because it allows them to do the promotion when it's not noisy. They're not competing with other emails. They create their own holiday. This is something that we honestly have considered in our company, but never actually did. Maybe something in the future, we might consider as our company starts growing each year. But I like the idea. I like the idea of just celebrating your business and rewarding your customers or your potential customers on your email list with some special deal. The other things that you control the narrative with this type of promotion, people don't have expectations with Black Friday ceremony. People are expecting crazy deals. They want 50, 60, 70% off. And maybe that's not a good idea for your business. Maybe you don't have the margins for them. Maybe that is just leaving two much on the table, meaning not a great financial decision for your business. So why put yourself under that pressure in that kind of context where people are expecting prices to slash. When you create your own day when you create your own promotion, there is no expectation. It's whatever you say it is. Because there's only your day. Now, I want to say that it also depends on your business. If you're a B2C company, meaning that you sell to consumers and people buy your products for holiday gifts, let's say, for example, you're a toy company. And you create toys and sell them online. This is your time. You need to make sales. The holidays is your season. I know this because one of my first jobs when I was in university was working at Toys "R" Us. I did a tech support over there. And man, it is incredibly busy during the holiday season. At the time, 60% of all Toys "R" Us sales were made during the holidays. So your business might hinge on this and you need to do this. And this is not even optional. But if you're a B2B company, especially your mid marketer enterprise, this might not be the best idea. It might not serve you well. You might want to wait a week or two and do an end of quarter deal. We're businesses are looking to dump their budgets and spend money to renew their memberships or other subscriptions or buy new subscriptions so they deplete their budgets for the quarter. And end of year. So that might be something that you might want to consider instead. Now one of the things you need to look out for if you're going to be running any kind of promotion at any time that is huge, it's going to bring in a lot of traffic and customers is being prepared. Make sure that your team or customer support team, yourself, all hands on deck. Everybody knows what to do, what the procedure is, the SOP, the standard operating procedure to fulfill these deals and make sure the customers get the bonuses or whatever you're giving them, because you're going to get more traffic than usual. You're going to get more questions, more emails, more chats. So make sure that you are ready for it because you don't want to disappoint customers and waste this opportunity. You want it to be a smooth process. So inform your team, give them instructions, and let them know what they should expect before it happens. Even with our green Friday deal, we have a clear game plan weeks in advance for our whole team so they know what to do, who's doing what, how are we fulfilling these special gifts? What are the days and times in the cutoff times for this type of deal? Who's sending the certificates? All that kind of stuff. We want to make sure that the whole team is singing from the same song. She's no confusion when the date arrives. Make sure you communicate expectations to your customers as well. Remember Black Friday is usually a deal that runs from Friday through Monday, meaning it lands during the weekend. So if you don't have people to answer emails or chats during the weekend, make sure you communicate that to the customers with a banner on your website or a message in your chat that says, hey, we'll be back this day. We'll be answering emails. This day or this time. So there are expectations set. So people are not disappointed. And just waiting for a reply thinking they're going to get a reply immediately. Now, we're in a looming recession. So if you're looking to do any kind of promotion, keep this in mind. This is not like where people are spending money like crazy and the economy is booming. People are looking to tighten their belts. They're looking for a deal, or maybe looking for a way to save some money in the long run. This is a great opportunity for you to lock in customers for annual and two year deals. At a low price. Listen, look at your turn. Look at your lifetime value. Look at your average customer and how long they stay with you. In my serve you better to have a customer stay with you. If you have a reoccurring membership or subscription, even at a discounted rate, if they save for two years, if they stay for a year, or even 6 months, this is also a time that you might want to promote some of your lower plans. For example, within an inch, we have a plan that's $29 a month or two 90 a year. Very, very affordable. This is when we really want to push this plan because it's attractive to people that are being a little bit more cost effective. There are price sensitive. They want to try before they buy or invest more money. And get in front of it, say, hey, we get it. Inflation is at an all time high. This is why we offer this type of plan. Lower the risk for them. And let them know, hey, I get it. I'm not getting more of the fact that the economy is not its best right now. In fact, I'm going to show you how I can help. I got more on today's lesson, but before then, let me share with you some of our favorite tools. We all know the power of an email list and growing our email list, but managing it automating our emails, making sure they actually get into the inbox, that's where ConvertKit comes in. ConvertKit is an all in one email marketing platform. I've used a lot of different email marketing platforms. And we use ConvertKit for a reason. It just works. It does what you need it to do. It's simple. It's easy. And it keeps improving every single day. Plus, you can start for free. Go ahead to one zero zero NBA dot net slash ConvertKit to get started. Support for today's show comes from a webinar ninja. Know what really sells your product or service, it's not marketing or ads. It's you, your blog, your social feeds, your podcast. These are always we try to share ourselves our value and build trust with our audience. But what if you can go even further? What if you can connect with potential clients or customers in a way that's even more personal, more engaging, more effective? Well, that's where webinars and webinar ninja comes in. Hosting a live lesson, product showcase, or Q&A session, is the best way to share yourself and prove yourself to an audience. But wait, you're thinking, aren't webinars a giant pain in the ass? Yes. Yes, they are. But not with webinar ninja. Webinar ninja has one job to make webinars easy for you. It's the user friendly a software ever created for webinars. So you can focus on your audience, not the tech. And here's the best part. You can get started with webinar ninja for free. Every plan comes with a free 14 day trial. And because you're a listener of this podcast, we got a real special deal for you. Go to webinar ninja dot com and at checkout, use promo code MBA. And you'll get 15% off your first month or your first year. Again, that's webinar ninja dot com use promo code MBA for 15% off your first month or your first year. Can't wait to see you inside the software and our community. A couple more tips when it comes to running your Black Friday promotions this year. If you have stipulations, rules, deadlines, for your promotions, codes they have to use, links they have to click, make sure this is super clear in every communication in every tweet in every email in every ad. You need to make sure that what they need to do is clearly communicated. And in this time of year, you're really can't over communicate. So if you typically send three or four emails out for a promotion, it's okay for you to send them a few more. Maybe 5 or 6 or even 7 because people are going to need more reminders, especially when the deadline is approaching because they're getting tons of emails from everybody else. This is also a great time to leverage a retargeting ads. If you run paid ads on social media, retargeting is basically an ad that you show to people that have been to your site or a landing page for this promotion. So they see an ad for the promotion on these platforms because, hey, they visited your website before. And this just keeps you top of mind, especially as a deadline is approaching. This is a very low hanging fruit cost effective way for use paid ads to convert for you. Thanks so much for listening to the $100 show. I wish you all the best in the holiday season as you do your promotions your sales and get in new customers. Yes, it's a busy time, but it's also a great time to evaluate if these promotions are working for you, okay? Be critical about it so that next year you can evaluate if you should do things differently if you should double down on something that works or not do it at all. If you love this episode, if you love this podcast, make sure you hit subscribe or follow on your favorite podcast app. We're on every single podcast app. So whatever you're using right now, Apple podcasts, Spotify, citro radio, overcast or on every single one, hit subscriber follow so you don't miss an episode and get access to over 2100 episodes in our archives. Before I go, I want to leave you with this. Don't forget about gift cards. Gift cards are a great option to include in your promotions, meaning they can a discount when they buy a gift card, meaning if they buy a gift card for a $100, they can buy for 90. This is especially a great way to promote during the holidays. If your B2C, I did this one, I had my clothing line. You might have customers ahead just bought products from you and they're like, hey, I'm happy with these products. I don't need anything right now. But might make a good gift idea, but they're not sure of people's sizes or their preferences for color, a gift card is a great way for them to give somebody a gift and say, hey, these guys are great. I love their products. Go ahead and have a little mini shopping spree. When I was running my ecommerce store, general designs, a little over a decade ago, our gift cards was the number one seller for the holidays. Pretty cool. Thanks so much for listening and I'll check you into Mars episode Q&A Wednesday. I'll see you then. Take care.

Webinar Ninja Toys "R" Us Amazon Confusion NBA Spotify Apple
A highlight from Privacy expert Sarah Bruno breaks down how the California Privacy Rights Act will affect the U.S. privacy landscape

Digiday Podcast

07:23 min | 4 d ago

A highlight from Privacy expert Sarah Bruno breaks down how the California Privacy Rights Act will affect the U.S. privacy landscape

"The digital podcast. I'm Kaley barber media editor at DJ. Tim Peterson senior media director. All right, so Tim, you had the conversation this week with Sarah Bruno, who is a partner at the law firm Reed Smith, and I'm curious why it made sense to have her on at this time of year. I feel like it's probably has something to do with the California privacy rights act, but would love to hear kind of why you wanted to have her on. Everything to do with the California privacy rights act or CPR for any listeners, not familiar CPR a is the amended version of California's existing privacy law, the California consumer privacy act that's been around for a couple of years now. And so I wanted to have Sarah on to talk about what's different with CPR a, what compliance under CPR a looks like since it takes a fact on January 1st, 2023, so we're about a little over a month out from this new privacy law taking effect. Got it. And so I know California has been one of the states in the U.S. that's been very proactive about Internet privacy laws. I'm curious, you know, what these amendments might look like and then kind of what Sarah's take is on it. Holistically, if she thinks it's bound to be an improvement or not. Yeah, so CPR I definitely strengthens the existing privacy law. It also clarifies some things like one of the big gray areas with CCPA has been the definition of sale. And it's something that's tripped up companies like Sephora Sephora has been fined by regulators in California because Sephora didn't think it was selling data, but under the law of CCPA. By sharing data for advertising purposes, Sephora was found to be selling data. And so what CPR a does is it's includes language. Now specifically to cover sharing data in a cross contextual behavioral advertising case. So any companies who previously said, no, we don't sell data. But we're effectively using data to make money from advertising. Now, have to be in compliance with CPR. So that's one area where CPR saved just to clarify, but Sarah and I spent a lot of time talking about how there are still some other gray areas with CPR a that probably won't get clarified until the rulemaking process and regulations come out, hopefully sooner than later because enforcement of CPR I starts on July 1st of next year. Got it. All right, well, it sounds like there's a lot to unpack. I'll let you guys get into it. Thanks Tim. Thanks, Kayla. Sarah Bruno, welcome to the DJ podcast. Thanks for joining us. Yeah, thanks for having me. Excited to talk about privacy today. Yeah. A lot going on in the privacy landscape. And as someone who's based in California, native California, the one aspect of the privacy landscape that's top of mind for me at the moment is the California privacy rights act, which will be taking effect on January 1st, 2023. And it's not a necessarily new privacy law because it amends the California consumer privacy act that took effect in 2020. And Sarah, given that this isn't replacing CCPA, but CPR a is a mending CCPA. What are the most significant changes or introductions that CPR a brings about to your mind? Well, how long do we have? Okay, we can cover some of them. Okay, so I think there's a few that are really notable that clients have been struggling with and grappling with one importantly is the opt out for sharing for cross context behavioral advertising. That is the opt out for sale was covered by CCPA and it had that broad language that defined a sale as either exchanging for monetary consideration or for valuable consideration, which was, I think, trying to tackle what they're now tackling with the cross contacts behavioral advertising. So a lot of companies have been chasing on that point in particular to either get contracts in place to try to confirm that it's not cross contact speed of our advertising and to define exactly the scope of use of the data. Or if it's clear that this is what this company is doing and this is how we're exchanging data, they're implementing systems for that opt out, making sure they opt out flows down. So that's one big one. I think from my standpoint, another that I know clients have been dealing with is the fact that we have to be more clear with the purpose for the data collection and ensuring that the purpose is what the consumer would expect. So when they provide your data, their data to you, as an organization, if, for example, they're buying a pair of shoes, the data is used to facilitate that sale of that pair of shoes and possibly if you're able to communicate that hey, we're going to also market to you. As a result of you buying these shoes, you're going to now get emails from us. And here's how you could opt out. That would be likely be considered to be compatible with that consumers expectation. But use beyond that, future use for other third parties. Now we're clients are having to really think through why do we collect this information? How do we use it? And do we use it beyond the purpose of a consumer would expect? So that's more of a thoughtful exercise. That's certainly clients are doing that now because they're notices have to be up to date. And they have to make sure that those notices include the purposes that they're actually using and anticipating using that data. Got it. And that first one that you mentioned, the addition of sharing, specifically in the context of cross contextual behavioral advertising. But now if you're sharing data that gets covered under CPR, you have to be in compliance with the law now in terms of providing notice and the ability for people to opt out. I mean, the definition of sale was like a huge gray area with CCPA. I feel like late 2019 and two 2020, even now with the Sephora find recently where Sephora interpreted CCPA and said, oh, where's Sephora? We're not selling data. We don't have to comply in the same way that maybe a companies who are selling data would need to, and then California is very general's office said, no, you're selling data. And now CPR clears that up by, okay, if you don't want to say you're selling data, that's one thing. But if you're sharing data for use in cross contextual behavioral advertising purposes, now CPR applies to you. It feels pretty cut and dry, but this is the law we're talking about. I don't know to what extent things are ever that cut and dry. Is there any gray areas around sharing the addition of sharing or to what extent it applies

California Sarah Bruno Ccpa Sarah Sephora Kaley Barber Tim Peterson Sephora Sephora Reed Smith TIM Kayla U.S.
A highlight from Non-Food Franchising is En Fuego with Jon Ostenson

Entrepreneur on FIRE

05:49 min | 5 d ago

A highlight from Non-Food Franchising is En Fuego with Jon Ostenson

"John say what's up to fire nation and share something that you believe about becoming successful that most people disagree with. Hey, fire nation, great to be back and I want to start off by saying John, congrats on the ten year anniversary here. Thank you. Very exciting. So keep rocking. As far as something around being successful, I believe a key element oftentimes overlooked is that in the end, it's not about you. Others have been a part of your success, yes. But what really matters is their own success as a result of having interacted with you. For example, it's past week, I was taking my son to Columbia, South Carolina for my Alma mater's football game, the national champion, Georgia bulldogs. And I happen to have 5 clients in Columbia, South Carolina that are bought franchises in the past year or two. And we took them all to dinner Friday night and sitting around the table and hearing of their successes and they're not just growing. They were thriving and expanding and taking over the state. It is so rewarding. That's where I get my fulfillment. And it's just a great reminder to me that it's not about us. It's about them. I love that. And I also love how you snuck in national champion. I mean, I have so much pride in my Alma mater as well, Providence college. We don't have a football team, unfortunately, because that's always a fun thing, but we won the Big E slash year. We went to this week 16, where I was at, where we barely lost to the eventual champion, Kansas, by just a couple points. Definitely love sticking with the Alma maters having fun with that. And as John mentioned, fire nation. This is his third time on the show, which is really cool. And we're going to be talking about why non food franchising is in Fuego. And during our pre interview chat, John and I actually had some cool conversations around how so many of you fire nation our listeners, my listeners here, how you have taken action on this content, how you've reached out to John and his company and you started non food franchising companies and a lot of you even said, hey, I didn't even know this thing existed. And now I'm running this non food franchise and I'm having a blast. I never was really able to click with anything else, but this is clicking with me. So we're going to be talking about some really cool things all around these topics. And I hope you fire nation. Keep taking advantage of the amazing opportunity that John gives you at the end of this episode to connect with him and his company for these non food franchising opportunities. First off, John, congrats on your new book, non food franchising. You're seeing a theme here, fire nation. Tell us more about it. Yeah, no, I appreciate it. The book releases at the end of October, and we've got a great response already with pre signups. As I mentioned offline, we'll get a copy to every one of your listeners that reaches out to us. But as we've discussed in the past, with non food franchising, many don't consider franchising when they're thinking about business ownership and alternative investments. They chalk franchising up as fast food and yet 90% of probably 95% of our clients want nothing to do with food. They just feel the same way that I do that they're easier ways to make money. I have to get into more detail around that. But no, so it's really opening up their eyes. And in the book, we talk about the nuts and bolts of stepping into business ownership. What does that look like? We compare franchising the startups, franchising to entrepreneurship through acquisition, which is a popular concept out there. We talked about the different roles of the owner, both the owner, operator as well as the semi passive executive model that many of our clients opt for. We talked about the different types of opportunities and various industries out there. And we certainly get into the financials, both the funding and the expected returns and this is oftentimes eye opening for people when they see that ROI that can be produced. We certainly talk about the legal side as well and kind of how to navigate that piece. And then we talk about how to select a franchise. As you can imagine, if you just Google around online, every brand is putting forward their best foot forward from a marketing standpoint, but it's really important to understand what's going on behind the scenes. And as you know, we work with over 600 brands part of the largest national brokerage here in North America. At any given time, there's probably 40 to 50 that we feel are the best of the best. Those with the franchise leadership team, the financial model, the competitive advantages within their niche. And then also what is resonating with others with similar backgrounds, so why? And so we kind of bring all that together, we talked about long-term strategies and the portfolio approach. A lot of our clients are existing business and they're looking to either complement or diversify their current holdings through additional expansion. And then we have a chapters will, you know, many of your listeners have businesses that they want to scale and oftentimes they overlook the possibility of franchising those as a strategy. So we cover a lot of content and again can't wait to get it out the door. Well, you are going to get it out the door brother. And as I mentioned in the beginning, a lot of the people in my audience fire nation didn't even really know that non food franchising was really a thing before some of our conversations that we've had in the past. So I want to talk about why franchises are often a stronger option than just plain old startups or quote unquote entrepreneurship through acquisitions. Because you've experienced this firsthand. So go through a few reasons of that specifically. You know, on the acquisition side, when making that comparison, you know, there are a lot of positives of binding existing business. It's cash flowing and maybe there's brand awareness and you've got a team in place, but oftentimes once you dig and it's not as easy as it looks. And I'd say over 90% of our clients that start off in that direction end up coming back and purchasing a franchise. It's really once they dig under the covers and they understand how do you define owner's discretionary within that P and L and then they realize there's a risk to losing key employees whenever you have a man change or you may lose key customers and then you're kind of in business for yourself. You no longer have that support system that you would within a franchise system.

John South Carolina Columbia Football Georgia Bulldogs Providence College Fuego Kansas North America Google
A highlight from How to Avoid the Quiet Firing Trend with Dr. Tim Elmore

The EntreLeadership Podcast

07:03 min | 5 d ago

A highlight from How to Avoid the Quiet Firing Trend with Dr. Tim Elmore

"All of you who have been leaving us voicemails with your feedback on these new segments we've been trying out. Some of you really like it. So I'll let you guys know I think it's great. And some of you, not so much. I have to say, I thought I was going to like it, and I actually did not. But either way, we appreciate that feedback. So please, please keep it coming. Our first segment on the show today is a teaching segment with our friend Casey Maxwell, executive director of marketing for entrez leadership. What's up KC? How are you doing? Good to have you back. Great to be here. So we've talked about quiet quitting a lot on this show lately. And this is really just employee disengagement. It's not new, but there's an increasing amount of employees who are kind of falling into this category, and one of the main reasons as we point out really stems from poor leadership. And with that, there's a new term called quiet firing, which is the leader side of kind of this passive aggressive way of approaching this. So how would you describe quiet firing? Yeah, so it's definitely a rebrand. It's a rebrand of something that has been happening for a long time. And because it's associated with quiet quitting, they kind of gave it the quiet name. It's so quiet. So quiet quitting is when an employee does the bare minimum to not get fired. Well, this quiet firing is on the leader side. So it is doing the bare minimum to support a team member with the hopes that they're actually going to leave. So this is when if you think about a boss and I want to call them a boss because people who quiet fire are not leaders. A boss intentionally does things to make people's lives not great at work so that hopefully they make the decision to quit. So this has been around for a long time and the best example comes from a movie that came out a long, long time ago. 1999, right? That was a long time ago. Office space. And we still talk about that. And yes, it's an old movie, but one of the reasons that that still gets talked about is because it highlighted so many of the negative things in culture and in corporate culture that really made people hate working in those environments. And the sad thing is, most of those things are still happening today. And one of those is quiet firing. So if you remember the character Milton. Oh, epic character. It was the guy who loved the stapler stapler. Yes. Well, he basically gets quiet fired throughout the show. So in the film, the boss comes in the first thing they do is they move his cubicle from a window view to the interior. And then they move him three more times. And then they start storing boxes in his cubicle. And then they eventually move him to the basement. I think they, I think they stopped paying him at one point, and it's not until the very end where they take away his prize possession of the red swing line stapler. And boy, was that a mistake? That was a mistake. Because what happens? He burns down the entire office building, which is terrible, right? But instead of firing him, they just kept making his life more and more uncomfortable. So this has been around for a long time, but the reason we're talking about it now is it's happening more and more. We're seeing this in the great resignation. We just saw that there was a LinkedIn news poll that went out. And this wasn't something that we had 300 people respond to, right? This was something that had over 20,000 people respond to it. And 48% of people said that they've seen quiet firing in the office. And 35% say that they had it happened to them. So this is definitely not something new, but it is something that is contributing to the leadership crisis we have today. Well, I'm kind of glad there's a spotlight on it because I hope it creates a new trend of great leadership coming out of this because that's the only solution to what's happening. And what you're describing here is just creating an unbearable workplace where there's a lot of poor leadership, a lot of spineless leadership for people go, I'm just gonna react to this in a passive aggressive way because the employees being passive aggressive, the team member, and so I'm not going to lean into it. I'm not going to coach. I'm not going to rise up and be decisive. I'm just going to give them mundane tasks and make their life miserable until I hope they just one day decide, I can't take it anymore. I'm going to leave on my own volition. Exactly. That's a terrible way to live. It is the worst kind of leadership. It's we call it spineless leadership. You said that. It's not taking responsibility for what a leader is supposed to do. And this can either be intentional or unintentional. There are things that happen like passing people over for promotions and not letting them know why. Never giving them a raise, cutting their hours. There are key things that people do intentionally to kind of signal, you don't have a future here. But there's also things that people do in an unintentional way that may be sending a message that they are being quiet fired. So this isn't always malicious. There's a lot of leaders out there who are going, oh, I didn't realize I was doing that. Oh gosh, exactly. Exactly. And some of it is just because people get so busy, right? But you might be sending some of these signals like if you start missing one on ones. You cancel meetings that you're not able to attend that the employee is setting up, or maybe you even just don't reply to emails. You're just unavailable. Whenever they start seeing that my leader is not available to me, it signals that my leader doesn't care about me. And so they are going to then disengage. And so that means they're either going to quiet quit or they're going to real quit. Yeah. And I mean, if this was a marriage, it would be like quiet divorcing. If you just kept canceling date nights, you never connected with your spouse. Everything was always more important than them. It's going to lead to a destruction in the relationship. Exactly. And I think that's what we're seeing in the workplace across the board. And when a boss chooses to quiet fire someone versus actually fire someone on, what's the heart behind that? Why don't they just step up and go, I gotta let this person go. Yeah. There's a lot of different reasons. And let me first say, there is never a valid reason to quiet fire someone. Like that is leadership at its worst. And any of the examples that I'll give as reasons why are not, hey, man, if that's me, I'll go ahead and do it. But some people feel that they're powerless, right? They feel like, oh, I can't, I can't actually fire this. That is somebody else's responsibility. So I just got to deal with this. Some people think, man, if I fire that person, then all of it's going to be on me. I'd rather have someone with a pulse, or they think, you know, I just don't want to have a hard conversation. Most of the reasons when there is a disconnect between a leader and a team member is often that there's some sort of issue. Maybe that person has a really bad attitude. Maybe they're doing something that is disruptive to the team, or maybe they're just not performing. Well, the role of the leader is to bring that person in and have a hard conversation. But nobody likes doing that. Hard conversations are called hard conversations for a reason because they're difficult and they're not fun. And so people think, well, I could have this, or I could just disengage, and maybe the problem will solve itself.

Casey Maxwell Milton Linkedin
A highlight from MBA2183 Must Read: How the Mighty Fall by Jim Collins

The $100 MBA Show

12:55 min | 5 d ago

A highlight from MBA2183 Must Read: How the Mighty Fall by Jim Collins

"Feel like you got enough value, the value I promised, just let me know and I will give you a full refund. Head on over to one zero zero NBA dot net slash live and sign up for our next live two day course. We also love WP engine. We host all our websites on WP engine, and it's for good reason. It's the best. It's super fast, it's secure, and their support team is out of this world. It's like having your own technicians on call 24/7. Most of the time, when I need something done, and I get on chat, they don't tell me what to do. They just do it for me. Exactly what I want. If you're hosting a website, especially a WordPress website, check out WP engine, and as a listener of the show, you can get 20% off. Just go to WP ENG dot IN slash MBA and use code WP E two zero off. WP engine, the best way to host your website. Today's must read how the mighty fall is such an interesting book. And let me start with the first and biggest takeaway that I received from this book. And here it is, every company, every founder is vulnerable to a decline. No matter how great you are. Listen, if the Roman Empire, if the Ottoman Empire with endless resources and manpower declined and is nowhere to be found today, then you are kidding yourself if you think that you are not vulnerable to being crushed as well. This chapter also reminded me of something that Jeff Bezos, the founder of Amazon mentioned one time in an interview. He said that he believes that it's inevitable that Amazon will go out of business. And he says that their job as the leadership of Amazon is to try to delay that as long as possible. And you say this up because he thinks he's incredibly proud and that he's going to tear the company down with how hubris he is. He says it because he believes that, hey, all things come to an end. They get reinvented. Innovation happens. Things change. So he's just hoping that, hey, that he stays humble and he stays hungry long enough to extend their run as long as possible. Now with this chapter shows you is example after example of companies that were dominant in the market, I mean, they were just crushing it. And now they're almost a joke. One of the examples that I remember from the book is Nokia. I remember Nokia phones. When mobile phones were becoming popular in the late 90s, in the early 2000s, everybody had an Nokia. They were the market leader head and shoulders and then BlackBerries came out, and then the iPhone came out, and now it's very, very hard to see somebody holding a Nokia phone. When everybody was holding one, just 15 years ago, they went from being the market leader to only having 3% of the market share. Why? Well, in the book he explains that other companies like Samsung and Apple, they're innovating. They're a researching complacent. They got cocky. They didn't say hungry and didn't stay cutting edge. They thought they arrived. Let's look at the inverse. Let's look at a company like Apple, for example, that has stood the test of time. One of the things that you'll notice about Apple is they actually cannibalize their own products, meaning they are their own competition before the competition. When they came out with the iPhone and the iPhone had a way for you to play music and buy music off the iTunes store, they knew that this would hurt the sales of iPods that they sell. Their own product. But they believe that, hey, it's better for us to cannibalize their own product with our own product with a new improved product something that's better than a competitor that comes and eats our lunch. Another great point in this book is about how successful companies when they skyrocket, they get to a point where they become hubris. They become overconfident, cocky. After experiencing so much success, they become arrogant. They think that their unbeatable and because of that arrogance they don't innovate. A great example of this is blockbuster video. Inner SPs are getting faster, so streaming video is becoming a possibility. They had a chance to buy Netflix, but refused. And then when Netflix started to grow and expand and become mainstream, they tried to build their own streaming service, but it was too late. Their arrogance caused their downfall. The next point of the book is really relevant, especially in today's big startup economy where a lot of fun is being thrown at these companies to grow as fast as possible. And Jim Collins says that companies lose their focus when they try to chase unattainable levels of growth. The problem is is that it's a cycle. These tech companies are funded by VC firms that are throwing money at these companies so they can invest in crazy, crazy growth. Why? Because if they keep spending money on growth and attaining new customers, it makes the numbers look good. It looks like, hey, on paper, this company is growing rapidly. This makes the investors happy, which then makes the company be valued at a higher rate, and therefore they raise another round of funds. And it goes on and on and on. The problem is is that fabricated growth is not sustainable. Why? Because when you're trying to go a 1 million mph growing your company, ten xing your month over month, this means you need to grow your team, you need to grow your infrastructure. And when you're trying to grow that fast, mistakes happen. You make the wrong hires. You make the wrong decisions. Maybe these mistakes don't rear their heads immediately, but they do eventually. There's nothing wrong with growing your company. But just like if you're on the treadmill and you keep increasing the speed very rapidly, you might just fall on your face because you are not ready to run that fast. When you build a business and grow a business, there are a lot of lessons along the way you have to learn to be sustainable to be a business that's there for the long run. You can't skip steps. You can't skip lessons. Enforced growth causes that to happen, and then these mistakes, these problems accumulate. Now, Jim also talks about what are some of the signs that the decline is on its way. One of the signs is blaming others. You'll find management blaming the investors, investors blaming management. The employees blaming their supervisors, the customers, the customers are left with the short end of the stick. They're the ones that suffer because you can't compete in the marketplace if you're not a harmonious team. Businesses as hard as it is, you need everything going in your advantage. Your way. When the blaming starts, that's when the fall begins. Another sign is when they're faced with big challenges, they take big risks or they just hang them up all together. We saw this with FTX. Because as you know, the bigger they are, the harder they fall. When you have a big, big company that there's a lot riding on it, a big mistake can make a big difference can make a catastrophe out of the situation. That's why growing slowly is actually a very smart idea, because if you have a misstep, if you have a mistake, it's not like a House of Cards that just drops and crumbles everything. You can course correct in time before the problem compounds. I got more on today's most read how the mighty fall by Jim Collins, but before that, let me share with you some of our favorite tools. We all know the power of an email list and growing our email list, but managing it automating our emails, making sure they actually get into the inbox, that's where ConvertKit comes in. ConvertKit is an all in one email marketing platform. I've used a lot of different email marketing platforms. And we use ConvertKit for a reason. It just works. It does what you need to do. It's simple. It's easy. And it keeps improving every single day. Plus, you can start for free. Go ahead to one zero zero NBA .NET slash ConvertKit to get started. Support for today's show comes from a webinar ninja. Know what really sells your product or service, it's not marketing your ads. It's you, your blog, your social feeds, your podcast. These are always we try to share ourselves our value and build trust with our audience. But what if you can go even further? What if you can connect with potential clients or customers in a way that's even more personal, more engaging, more effective? Well, that's where webinars and webinar ninja comes in, hosting a live lesson, product showcase, or Q&A session, is the best way to share yourself and prove yourself to an audience. But wait, you're thinking, aren't webinars a giant pain in the ass? Yes, yes they are, but not with webinar ninja. Women are ninja has one job to make webinars easy for you. It's the user friendly a software ever created for webinars. So you can focus on your audience, not the tech. And here's the best part. You can get started with webinar ninja for free. Every plan comes with a free 14 day trial. And because you're a listener of this podcast, we got a real special deal for you. Go to webinar ninja dot com and at checkout, use promo code MBA. And you'll get 15% off your first month or your first year. Again, that's webinar ninja dot com use promo code MBA for 15% off your first month or your first year. Can't wait to see you inside the software and our community. Such a great book how the mighty fall by Jim Collins. One of the pieces of advice he gives is that if you feel like you're falling down, if you feel like you're in decline in your business, don't panic, don't do something rash. Stay calm, stay disciplined. And don't take massive risks, consult with people, consult with advisers or mentors. And make small changes in improvements that can accumulate over time and move you in the right direction. Basically, if you need to change things around your business, don't just pull the E brake. Don't pull the handbrake in your car and cause an accident on the freeway. Metaphorically, of course. You want to slow down. You want to take the next exit. You want to get your bearings. You want to move in the right direction to start changing your direction. This is especially important if your company has grown to a certain size. Your decisions are going to affect a lot of people. Your customers, your team, yourself, and your family. This book was incredibly insightful. I highly recommend you pick up how the mighty fall by Jim Collins. It's incredibly applicable, even if you're a small business owner, because what I have noticed in my own business is that I'll have seasons of rapid growth. And things are just moving fast things are going well, and you almost feel invincible. Those are the times you need to worry, okay? You need to get re centered. You need to be mindful of how you spend your money, be mindful of how you make your decisions. Understand that this is a season and that this is great momentum, but use it to your advantage so that it will work for you when things are not so great. Make decisions, that will allow you to weather storms in the future, meaning invest in your business so that it's a long-term business and not chasing the moment or chasing the fast sale or the rapid growth. Don't get me wrong, you need growth. You need to make sure that you're making more money than you did last month. That's really something to admire something to look after and something to really shoot for. But growth at all costs is a recipe for disaster. It can be a real painful one for you and can cost you your business. Thanks so much for listening to the hundred RBA show. If you love you here, hit subscribe hit follow on your favorite podcast app on every single podcast app Apple podcast to your radio, Google podcasts, Spotify, you name it. Hit subscribe, hit follow so you don't miss an episode. Before I go, I want to leave you with this. When you read a book like this, it might seem a little bit doom and gloom, you know, how the mighty fall. And you might think to yourself, well, that's not me. That's other companies, other founders. That's when the learning stops. You need to consider that this could be you now or in the future. That's when the antennas go up, and that's when you start paying attention. And that's a remembering the lessons. We are human. We are susceptible to mistakes. I would say to myself when I see these companies totally get crushed and go down to zero, I say these founders, these leaders of these businesses. They created an incredible company at some point, but they made a mistake. They've made mistakes along the way. Mistakes sent anybody can make. So stay humble because not being humble is the reason why a lot of these companies fail. Thanks so much for listening and I'll check you into tomorrow's episode. I'll see you then. Take care.

Nokia Jim Collins Amazon Apple Netflix Jeff Bezos NBA Itunes Store Blockbuster Samsung JIM RBA Google
A highlight from Arbos Cheese Dip with Andrew Abrogast

Veteran on the Move

05:02 min | 5 d ago

A highlight from Arbos Cheese Dip with Andrew Abrogast

"Pilot in the army. So first things first, take back, tell us what you did in the army. Hey, thanks, Joe. I appreciate you having me on. And if my younger marine brother was here right now, he would be you're on your side entirely and wouldn't give me any credit for being an Apache pilot. So kudos to you. As a cobra pilot, but was your brother doing the Marine Corps? He was at O three 11 infantry. 300 infantry, yeah. Yeah. Awesome. Fits the build of that. Yeah, I know. So just kind of going back about the military experience. I'm from Memphis, Tennessee, and when I don't have any, I didn't have any family in the military, so it was kind of a new ordeal for me. And it was around the time of 9 11, where I was still in high school and knew I needed to go to college. I wanted to go to culinary school, but was kind of pointed towards a different direction to go to a university. And so I ended up going to northwest Missouri state university, which I'm from Memphis. This is in maryville Missouri, it really had no business being there, but I shadowed the ROTC program with a buddy of mine who was interested in doing it. And when I went there, met with him, I just immediately felt included and wanted, right? So it's like, man, this is a good group of guys and gals and they're genuinely interested in me. And so I ended up Ellen when I started going to school there. They reached out and they're like, hey, I wanted to see if you wanted to come to PT one morning. And then it was history from there. Doing the ROTC thing. And I ended up doing a contracted my sophomore year and got a three year scholarship and it was one of those things where it's like, yes, there was definitely some patriotism there that was pushing me towards wanting to do this, but obviously the scholarship and having a guaranteed job when I graduated was very enticing as well. So just fast forward, we do our whole branch selection and ended up going aviation and at the time there was like this guaranteed branch ad so active duty service obligation. So it's like if you get your branch of choice, you're going to owe an additional three years. So it long story short, I didn't read the fine print. I thought I would like 6 or 7 years, ended up owing ten. And I didn't find that out until I was married and mentioned that to my wife and passing. And she's very happy about that. But it all worked out the end. So going from Missouri down to fort Rucker, Alabama, flight school for two years. It was during the surge. So there was a large bubble of people and just spent a lot of time doing details. So from there, student leader at port Riley, one one ARV and deployed to Iraq and came back career course and then went to port Campbell, 101st and served as a company commander there and the one 5 9th combat aviation brigade deployed Afghanistan and then upon returning, I knew I was ready to get out of the army and I wanted to pick a location that would in a job that would be suitable for civilian transition. And so I chose a recruiting command, terrible choice. Terrible decision. And but it was in Savannah, Georgia. And so that's where I ended up finishing the remainder of my two years and worked on my transition from there. Yeah, you're back in the civilian world as a recruiter, but yet you're working 80 hours a week or whatever. So that whole lot of spare time to work on that transition. So as you're timing the army came to an end, what did your transition out of the army end up looking like? So, you know, it was one of those things where in recruiting because you are non deployable, they still work you to death, right? So it's one of those, yeah, you could be deployed. So be thankful. It didn't matter if you're gone from your family. Weeks, nights, weekends, and stuff like that. So, but I did know that as important as the mission was, the army was not going to care about me when I ETS. And so it was on me to work towards this transition of what I wanted to do. And I was either I

Army Rotc Memphis Missouri State University Missouri Marine Corps Maryville Port Riley Tennessee JOE Combat Aviation Brigade Ellen Fort Rucker Alabama Campbell Iraq Afghanistan Savannah Georgia
A highlight from The Secret Strategies of the Top Online Course Creators with Greg Smith: From the 2019 archive

Entrepreneur on FIRE

05:36 min | 6 d ago

A highlight from The Secret Strategies of the Top Online Course Creators with Greg Smith: From the 2019 archive

"Greg say what's up to fire nation and share something interesting about yourself that most people don't know. What's up fire nation? So excited to be here. Two quick things about me that most people don't know. One is, well, this 1 may be a few people know and it's in my genre. I actually started producing courses in 2005 back when it was harder to produce courses. But the more interesting one that really most people actually don't know is late at night after my wife and kids go to bed, I like to paint miniatures. Wow, I didn't know that either. And we've had a couple of nice scotch sessions on the balconies. And that's never come up. Yeah, it's relatively new, just over the last year. So it helps me get to sleep after everyone else has gone to sleep. I used to sort of watch YouTube or do other things like that, but you got to have blue light blockers on if you're doing any of that stuff. So miniatures definitely the way to go. I'm going to have to require a couple of pictures for maybe the show nose page to see what you got going on there. But fire nation. That's a great picture. Oh, set them over. But fire nation, you know Greg, because he's been on the show before, dropping value bombs. And he has literally blown think of it up now with over 40,000 customers over and over 100 employees that are working for him to help people like yourself create your own course and or membership sites. And so today's audio masterclass, as I mentioned back in the intro, is the secret strategies of the top online course creators and membership sites. And there's really nobody better to talk to about this because Greg, you have the behind the scenes knowledge of over 200,000 of the top courses and membership sites. So what are these creators doing to win at such a high level? It's amazing the consistency amongst them. So it's all of these courses, but every time I sit down and actually talk to someone who's done amazingly well, be it in they've just had a massive launch or they're consistently successful with recurring membership or their amazing with their course completion rates or student engagement or reviews. There's a lot of consistent themes that run through all of these course creators. And I would say, you know, there's some interesting, really interesting stuff going on this year. And I think more than any other, it's sort of the year the partner launch, so we can jump into that later. on the sort of wanted to start on the non sales side of because everybody, we always talk about marketing and how to make more sales. But one thing I'm finding that drives that in the long run and really drives the success and even powers things like a big partner launch is not stopping at the moment of sale, but really focusing on delivering value after that fact. So after you close that deal, really diving in and focusing on really delivering value after the sales are happening. And when I see people really diving in and focusing there, that's one of those consistent themes I see running across all of these really successful course creators and membership site owners. Is there driving to that student success after they have them as a customer? So one thing that I know you're a big fan of is I am too are funnels. Funnels are a great thing to get people into your world through what I call the MTG, the main traffic generator for me, of course, that's entrepreneurs on fire. But then working people through a funnel to get to an eventual sale of a course of a membership site of a product of a service. But you're also a big believer of not just stopping at the sales funnel, which so many people do. Instead, deliver an amazing experience for let's just have some keywords here, fire nation, retention, and repeat customers. That's where you're winning. So tell us more about that. We touched upon that just a couple of seconds ago with the last blur. But I really want to dive even more into beyond the sales funnel. And maybe some specific things that you've seen from course creators that's entrepreneur on fire listeners could really employ. Definitely. And one way to look at it is just look at it as either the next funnel or a continuation of the funnel and it really so it doesn't stop. If you just look at it as the moment you take their money, they're still in the funnel. They're still engaging with you. You're still delivering value. And so some of the things specifically after the collection of dollars say or that sale happens, is think about onboarding. How are you onboarding into your program? So whatever that is, if that's a course, if it's a membership or if it's something else, focusing on onboarding an onboarding is something we focus on a lot in software. I have a whole team focused here on how we onboard you into thinkific if you're getting started with us. And I would encourage you to look at it in a similar way with your course or your program, really think about what you're going to do to onboard people. So they've just, they've just signed up, make that initial experience easy. So focus on removing any friction, learning is hard, and they've just signed up to sort of change their life or have a learn a new skill or passion, remove all of the roadblocks and go through and I do this myself constantly with any of my things, is I'll go through and experience it myself for the first time. So I kind of erase what I know or try and erase what I know about the program. And start from scratch, like a brand new sign up with a new email and I will go through and see how it looks. And really trying to remove all the friction. And then once they get in there, start thinking about what you can do to improve that onboarding experience. And one way to do this is to think about what would you do if they came in and sat down with you in person, probably asked them some questions, you'd think about what their goals were you'd ease them into it. And you'd probably provide them with a bit of the why and the context first. And I think sometimes we make the mistake, especially in learning products of just diving into like, all right, step one do this thing, but rather think of it as, hey, they're sitting down with me over a cup of coffee and we're

Greg Youtube
A highlight from Brand Is Gravity with Paul Daly: From the 2019 archive

Entrepreneur on FIRE

04:27 min | Last week

A highlight from Brand Is Gravity with Paul Daly: From the 2019 archive

"Paul, say what's up to fire nation and share something interesting about yourself that most people don't know. It is my honor to say what is up. Yes. To my brothers and sisters in the fire nation. Yeah, something interesting. So, okay, I did think about this question because I always enjoy. This is one of my favorite parts of the podcast section when you hear what people come up with. And so I'm going to share something that some people might know, but I think that splitting wood that is like with an axe and wood on the ground outside. I think splitting wood is maybe the ultimate activity for an entrepreneur. It's one of my favorite things to do. It's cardio. It requires enough concentration that you don't chop your foot off. Every piece of wood is a little different. And frankly, it's what it feels like to be an entrepreneur, most of the time, as you're just splitting and splitting and splitting. And every once in a while, you make a fire. So that's probably my little tidbit. There's a great book on it, by the way. It's total a nerd wood splitting book, but it's really well written. It's called Norwegian wood by a guy named Lars, of course, his name is Lars, of course. Lars mighting. Yeah, of course. But it's a fascinating book. But either way, that's my little thing. Well, what an analogy first and foremost. And secondly, just imagine when you just get that perfect hit. And the wood just splits exactly how you envision it and it just kind of sits there for a second. It's like thinking about it, then it just drops off the log on both left and the right side. And you're just like the best. That's why I split logs. I mean, you're talking to you're talking to a man right now. I'm from Maine. We've done all that stuff. I mean, we split wood every single fall, literally. But to me, I have an analogy of you get out on the golf course and you're crappy all day. But then the 17th hole, you just hit that one shot and it's just the one. And you're like, I can't wait to go off tomorrow. I was like, changes everything. So true. Fire nation, I think this really filled the bill on why I like to start with this question, because you know, it just makes you think outside the box and you get some really interesting answers. And of course, we're going to now turn our focus to the main topic today, which is brands. And as I told you in the intro, brand is gravity. We're going to be going through a lot of things in this genre in this vertical in this niche. And of course, Paul has a lot of experience here. So Paul, first and foremost, let's just start off with defining brand as you see it. That is the question. I think when anything any word begins to become popular or becomes a buzzword, that's the instant it starts to lose meaning. Just because it's being used in so many contexts. So if you're going to do anything meaningful with brand, you have to define it. So I really take a page from I'm sure you've heard this definition before and probably a lot of people in fire nation from the marketing guru thought leader Seth godin, somebody I respect a lot. He would say brand is a set of expectations, memories, stories, and relationships that taken together account for a consumer's decision to choose one product or service over another. I take that definition, stand on its shoulders and say, all of that to say, brand is a feeling. It's not a logo. It's not a color scheme. It's not your people. Those are all expressions of your brand. But brand is a feeling. And that feeling really is a reflection of the viewer's values back at them. So that's kind of my starting point on any conversation with brand. Fire nation, I really think you need to step back and think about what kind of feeling number one do you think your brand has. And then number two, what kind of feeling do you think your brand exudes to others? The people that are being exposed to your brand. I know back in 2012, when I came up with the entrepreneurs on firebrand, for me, it was all about, hey, not say anything bad about other podcasts. There were some great ones out there at the time. But one thing as a listener, I was like, man, this is great content. I just really wish it was being delivered with excess enthusiasm and people were having just an overabundance of fun talking about these topics because sometimes I just wasn't getting that energy through the voice because we as humans are so unbelievably good at just translating voice tonality into what actually people are feeling. And I said, hey, with entrepreneurs on fire, this is going to stand for igniting, inspiring, exciting, crushing it. I want all these things to come out. And for some people, it's going to be over the top. And it's going to be corny. And that's not our tribe. But our tribe are people that want that

Lars Lars Mighting Paul Maine Seth Godin Golf
A highlight from How to Create Profitable Facebook and Instagram Ads that Get Results with Rick Mulready: From the 2019 archive

Entrepreneur on FIRE

05:47 min | Last week

A highlight from How to Create Profitable Facebook and Instagram Ads that Get Results with Rick Mulready: From the 2019 archive

"Say what's up to fire nation and share something interesting about yourself that most people don't know. So good to be back on here. Yes. Talking to player nation. I think this is number three, right? This is number three. This is the third time is the charm. I am super, super honorably back on. Thank you. Something that people don't know about. All right, so I have two things actually. And one of them is a story about you, and this show. But I don't think you know, actually. Okay. So the first thing which is a random thing is that I used to be the scouting coordinator for the Washington capitals hockey team. And that meant that I was the liaison between the general manager and the scouting staff. So I worked in the GM's office and I worked with the scouting stat. And I was not a scout myself, but I worked with the scouting staff. And it was amazing. I did that for 5 years, and I was like, this is the greatest job ever. Are you still a big hockey fan? Like to this day? I am a die hard capitals fan. Okay. Have they been good at all recently? Yeah, they're having a great season. They won two years ago. They wanted all two years ago. That was like the greatest. Is that the Washington capitals? Yes. And so in the Washington national. Wow, that's becoming like, that's becoming like the Boston of sports towns. I know seriously. Yeah. I'm pretty good. The second thing that people don't know. And this is more of like, it's not about me. It's more about, so what year did you hear to the podcast start for you? September 2012. Okay, cool. So I was like, I have my years right. I remember sitting in the dining room of Adam baker, who was one of your top. I want to say top 25 guests. He was in my power 20, actually. Okay, first 20 because he was my original coach and I was in Indianapolis when he used to live there. I was sitting at his dining room table, we were doing some coaching. And he was like, I got to do this interview thing. What for this John Lee doom is guy for this crazy daily podcast that he's starting. He's like, I don't think this is going to last because you were told that all along. And he's like, I don't even know what it's just for me. I was like, I don't know. You're like, what's a podcast? Yeah, I never heard of the guy, and he's got to do what? Like, all right, dude, I'll be right here when you're done. And here we are 7 years later. And I don't even know what number you're on. 2316. Yeah, you have shown everyone. Who said, what is this guy doing? Look what you've done now. Oh man. That is crazy. If you do that, I don't know if you knew that story. So you know how I did not. You know how I got Adam on my show actually, which is pretty funny. It might have been probably would have come on at some point anyways, but I remember I really wanted to be part of the power 20 because that was back when man versus debt was huge and he was all over the place. He was doing he had done a movie. He had like pat Flynn was in the movie and Scott dinsmoor was in the movie. And he was having a premiere down in New York City. And partial credits or whatever movie credit was being used crowdfunding it. And it was like 2500 bucks. And I was just like, that's so much money because I was just always starting off. And I'm like, I really feel like building this relationship will be worth it. And so I ponied up the money and I went down to New York City for the premiere. I met him in person. And introduced me to so many people in that room that ended up being later guessed on my show. And it was like one of those things where I look back and I'm like, man, that was a lot of money, but that was a really worthwhile investments to make that happen. I didn't know that full story, but now that you say that, I do remember something about that. Because his movie was I'm fine thanks. Yes. And but I do remember something about you pony up that money. I remember hearing about that. And yeah, 2500 bucks is a lot of money, but holy cow, what an investment that you made. Fire nation invest in thyself. We're actually going to be talking today, good segue. On investing in yourself, because we're talking about how to create profitable Facebook and Instagram ads that actually get results. And there is nobody that I would be talking to that I have a higher steam that I hold than the Rick mulray that we're talking to here today. And I do mean that. Andy porterfield goes to you for this stuff. I go to you, pat Flynn. I mean, people that are crushing it in the online space know that you're the guy to talk to you when it comes to this because you keep your finger on the pulse. You've run masterminds. This is what you do. I mean, you are the guy. Let's be honest. We've been seeing ad costs rising for some time now. So break it down for fire nation. What is the dilly yo? Yeah. This is one of those things where everyone has like, wait, our ad costs are rising. They've been rising for several years now, right? And there's a few different reasons. And we're recording this right now in the middle of November, 2019. So number one, we're in Q four, right? This is the holiday time ad costs are always going to be hired this time of year. Seasonally, you're going to you should accept you should expect that. But on a bigger picture, I think the number that Zuckerberg came out with earlier this year was there's 7 million advertisers now on Facebook and Instagram. And that's a lot of advertisers.

Hockey Washington Capitals Adam Baker Washington Scott Dinsmoor Pat Flynn John Lee GM New York City Indianapolis Boston Rick Mulray Andy Porterfield Adam Instagram Facebook Zuckerberg
A highlight from MBA2182 4 Affiliate Program Models to Make More Sales + Free Ride Friday

The $100 MBA Show

16:23 min | Last week

A highlight from MBA2182 4 Affiliate Program Models to Make More Sales + Free Ride Friday

"Non-essential work. But mission control is all about doing what gets results and nothing else, mission control is a 52 week program where I personally guide you to the business outcomes you're looking for with no detours or side alleys along the way. Each week we check your progress based on metrics we establish and give you action items to move you closer to your goal. That's it. Now, because I personally coach each mission control client, I can only accept 50 signups for the year. Don't miss your chance, learn more at one zero zero NBA dot net slash MC. The sensor mission control. Again, that's one zero zero NBA dot net slash MC. We also love WP engine. We host all our websites on WP engine, and it's for good reason. It's the best. It's super fast, it's secure, and their support team is out of this world. It's like having your own technicians on call 24/7. Most of the time, when I need something done, and I get on chat, they don't tell me what to do. They just do it for me. Exactly what I want. If you're hosting a website, especially a WordPress website, check out WP engine, and as a listener of the show, you can get 20% off. Just go to WP ENG dot IN slash MBA and use code WP E two zero off. WP engine, the best way to host your website. The video programs are a great way for you to basically open the floodgates for you to get people to sell for you. If you don't have a sales team, if you don't have a huge marketing team or a marketing budget, affiliate marketing is a good way for you to sell your products, market them with no out of pocket expense because you only pay commissions or referral fees when you make a sale. Now, this episode is not about the technical aspects of putting together your affiliate program. There's other episodes in our archives just go ahead and search over at our website one zero zero NBA dot net. Where I break down different software options that you can use. Today's lesson is about deciding on a program model. There's different ways you can set up your affiliate program to incentivize other people to be affiliates and to promote and sell your products. So let's go through them now and talk a little bit about why you'd want to choose one over the other. The first model is straight up commission and reoccurring commission. Depending on your product is, say, for example, you have a software product or membership of some sort, a community that you charge for a month over a month or a year over year, you may want to offer a recurring commission to your affiliates. Now, there are no rules to this. You can offer 30% commission 40% commission to the affiliate on the sale price, or you can decide to go lower, like 20% commission. A lot of businesses make the mistake where they say I'm going to go with other businesses do or what other competitors offer in their affiliate program. That's not the best way to go at it. What you want to do is make sure you're profitable. Make sure that even after you give that affiliate commission for the sale, remember if you're going to choose a recurring, then you're going to have to pay that commission every single time your paying customer pays you. Can you absorb that fee? Can you absorb the fee plus the cost of running your business and providing that service? And that's how you decide the percentage. Now, this is probably the most popular way of doing commissions on affiliate programs because it's very attractive to other affiliates that want to promote you. It's also the most generous because it's a month of a month if it's recurring and it's a percentage of the sale if it's not reoccurring. So even if you're selling a one time course, let's say the course is $2000 and you offer 30% commission that's $600. That's pretty good per sale. That affiliate made $600 in this scenario by just promoting your course. They didn't have to deliver the course or create the course or anything like that. So as you can see, percentage commission, whether it's one time or reoccurring, is quite attractive to the affiliate. But remember, this is probably going to cost you the most as a business. So make sure that your margins can account for this percentage or whatever percentage you decide. And of course, with this model, you're going to have to choose if this is a one time commission, whether it's a one time product like a one time course, or a recurring commission like a software. Now, there are software companies that do one time commission. So just keep that in mind. They might say, you're going to get 50% of the first payment, but after that, all of the commission is ours or all the wholesale prices hours as a company. So if somebody pays for a $500 a month type of service, they're going to get two 50 for that first month, but every month after that, no more commissions. So you're going to have to decide that. And that might be an option that makes more sense for the affiliate because, hey, at least I get a big chunk of 50% chunk. And for you, if you have a very sticky product that maybe the lifetime value of your customer is quite high and they stick around for years, it's worth it for you to give away 50% of the sale at the start. Now remember, if you have a money back guarantee, if you have a free trial, make sure you don't give out commissions until those are done. So most of the programs have 30 to 60 days of grace period to make sure the account for them. To make sure that affiliates only get paid when you get paid and can not or don't have the window of refunding a sale. Now, there's still a chance a customer might quote unquote get a refund. This is called a charge back with the caller credit card companies say I didn't authorize this thing at an authorized sale. And you will be deducted that sale from your payment processor or paying processing account like stripe or PayPal. You're now out of pocket of the wholesale. So you've got to make a note of that because you've probably already given commission if it's past the grace period. And you want to make sure that that is accounted for in the next commissions for that affiliate. Most affiliates promote your product constantly and therefore you still have some time to salvage that. That's number one recurring our one time commission is very straightforward. Choose the percentage shoes of us once or reoccurring. Number two, lead acquisition model. This is a little bit different. It's not exactly affiliate marketing. But if you are very confident about your sales cycle, turning your leads into sales, some businesses choose this model, where they will pay people for leads and not actual sales. So the run their affiliate program, but every time somebody acquires a lead, they pay that affiliate. It could be sort of a one time finders feel like for every lead that they get $10. Now obviously you're going to have to qualify this lead before you pay it out. It might be qualified with a phone call, the schedule appointment, or something else. But the point here is that for some companies, this is a really good way to do this because they're really confident on selling customers once they contact them, whether it's on a webinar or on a call, or in person sometimes. And they just need leads to fill in their sales pipeline. This also works for a lot of SaaS companies software companies that have free plans. So they're like, hey, get us a free plan member. If they fall under this criteria, they're considered an actual lead. And it could be things like activity on the account. They've attended their first onboarding call, whatever it is. Because of course, you don't want anybody to gain the system and just sign up with fake emails and just try to take your money for saying, hey, I got you some leads. Most of the businesses that use this actual model speak to the customer on a call to qualify. So this is a great model again. If all you need is his leads and you know if you have good leads, you can get sales. All right, model number three, it's a little bit like a finder's fee and the recurring commission. And I'll give you an example. There are businesses that say, hey, we're going to pay you for the first 12 months a company 6 round and pays us month over month. But after 12 months, that's it. We will take the fee. A good example of this is ConvertKit ConvertKit runs a pretty robust affiliate program they've been public about how much of their affiliate program has allowed them to grow and be a big part of their market success, but they have a program where they give commission month over month reoccurring, but it's only for the first 24 months. Now, my estimation is that they did the calculation. They did the math. Maybe you know that customers on average state longer than that, three years, four years, and that they can afford to go 24 months, but after that, they have the full commission amount, where they have the full sale amount I should say. This allows you to market it as a reoccurring commission type of sale. But not without limits. You have some limits there so that at a certain point, you could stop giving commissions. I got more haunted ace topic. We got one more model to cover that might be right for your business when it comes to your affiliate program. But before that, let me share with you some of our favorite tools. We all know the power of an email list and growing our email list, but managing it automating our emails, making sure they actually get into the inbox, that's where ConvertKit comes in. ConvertKit is an all in one email marketing platform. I've used a lot of different email marketing platforms. And we use ConvertKit for a reason. It just works. It does what you need it to do. It's simple. It's easy. And it keeps improving every single day. Plus, you can start for free. Go ahead to one zero zero NBA dot net slash ConvertKit to get started. Support for today's show comes from a webinar ninja. Know what really sells your product or service. It's not marketing or ads. It's you, your blog, your social feeds, your podcast. These are always we try to share ourselves our value and build trust with our audience. But what if you can go even further? What if you can connect with potential clients or customers in a way that's even more personal, more engaging, more effective? Well, that's where webinars and webinar ninja comes in. Hosting a live lesson, product showcase, or Q&A session, is the best way to share yourself and prove yourself to an audience. But wait, you're thinking, aren't webinars a giant pain in the ass? Yes, yes they are, but not with webinar ninja. Webinar ninja has one job to make webinars easy for you. It's the user friendly a software ever created for webinars. So you can focus on your audience, not the tech. And here's the best part. You can get started with webinar ninja for free. Every plan comes with a free 14 day trial. And because you're a listener of this podcast, we got a real special deal for you. Go to webinar ninja dot com and at checkout, use promo code MBA. And you'll get 15% off your first month or your first year. Again, that's webinar ninja dot com use promo code MBA for 15% off your first month or your first year. Can't wait to see you inside the software and our community. All right, we talked about the first three models of our affiliate program model options. Let's talk about number four. And that's referrals and perks. The classic example of this is PayPal. When PayPal launched, they started a referral program that is kind of seen as The Godfather of viral marketing, where they gave people $10 any time they would refer somebody else to PayPal. Now PayPal knows that, hey, a $10 fee is nothing compared to what we're going to make in the future to our average customer on fees on transactions on other things on exchange rates. Another example of this is perks, not cash that's given to the actual customer inside the product. I'm referring to Dropbox and Dropbox came out. Same thing, you would share Dropbox and they would give you more memory in your Dropbox account every time you shared upgrade your account to a maximum of one GB. If you refer a friend to Dropbox and every time you refer somebody, they would upgrade your account like about 50 megabytes every single time to a maximum of one GB. So it doesn't actually have to be money. It could just be something that the user, your customer, really wants. Now, you might be saying Omar. But I sell courses SL coaching SL physical products. How could this actually apply to me? Well, I've seen a lot of ecommerce stores use this model by giving them store credit forever referral or for every $100 spent buyer referral, they get $20 off their next purchase. I've seen online course builders and coaches give products away forever referral. You refer one person you get this extra module. For 5 people, you get a group coaching call with me. You refer ten people, you don't want to own coaching call. You refer 50 people, you get a free ticket to my live event. This is kind of how it goes. And you can see that you don't really need to have money exchanging hands to incentivize people to refer other people. Now, this is technically not an affiliate program is more of a referral program because you're incentivizing your own customers to help you spread the word, but you can also open it up to non customers. So they don't actually have to be a customer to be able to refer and get this credit or get these bonuses. When we launch webinar and we actually started out with a kind of discount referral program before we did our affiliate program. What this looked like is that every customer would get like $50 credit to their account every time they refer a customer to the maximum of our annual plan price. So say for example, our annual plan price was $300, after they've referred 6 people, they had a account for free that year. And that's kind of where it stopped. They get a free year. But for us, it was worth it because for every new customer, they would refer 6 customers and those 6 customers would want to do the same. So it was really a great way for us to spread the word or get our customers to spread the word. Again, any out of pocket expense. So there you have it. Those are four affiliate program models for you. Number one, straight up commission, either one time or reoccurring, number two, just giving them commission for a qualified lead. Number three, a combo of reoccurring, but it ends at a certain period of time after 12 months, 24 months, whatever works for your business. And number four referrals where they get rewards, kickbacks, gifts, perks. Even swag works. Thanks so much for listening to the $100 MBA show. Today's episode is not over though. It's free right, Friday. Let's see who won this week's free ride. And the winner is Alexandra 66 Alexandra says, K Erickson is an amazing teacher of 5 stars. K is such an engaging teacher. I really enjoyed her perspective on scaling an online business with systems. She made it so easy to understand and actionable thanks Kate and Omar. Of course, Kate Erickson was one of our guest teachers look her up, look up her episode over at one zero zero NBA Donna in the search war up top. Alexandra, congratulations you want our free ride to the automated webinar challenge course over at webinar ninja dot com slash AWC. Your mission is to email me at Omar at one zero zero NBA dot net so I can hook you up with the lifetime membership to the automated web at our challenge. If you want to win a free ride, just leave us an Apple podcast rating and review and see if you want. Listen in on Friday, you're in the draw to win until you win once you leave us a review. Thanks in advance for dropping us love on Apple podcasts. Before I go, I want to leave you with this. One of the mistakes that business owners make when they launch an affiliate program is they launch it and they don't provide materials for their affiliates. They don't offer them any sales copy or images or graphics or videos so that they can use it to promote it to their email list to their audience to their social following, providing that content those materials makes it super simple and easy for them, making it easy for you to get traffic to your site and more customers. So give them what they need. Giving those materials. Thanks so much for listening. And I'll check you in Monday's episode. I'll see you then. Take care.

NBA Paypal Dropbox Omar Alexandra
A highlight from Jaspreet Singh | How To Become A MILLIONAIRE In 2023: BUILD WEALTH Starting With $0

Impact Theory with Tom Bilyeu

06:15 min | Last week

A highlight from Jaspreet Singh | How To Become A MILLIONAIRE In 2023: BUILD WEALTH Starting With $0

"Everybody in America should be a business owner. However, not everybody should be in the business of starting a company and not everybody should be in the business of operating a company. So what does that mean? Well, you can be a worker and an owner, right? This concept of equity, you have to understand this because wealthy people are working for equity, they're not just working for a salary, bringing this back to the idea that there are habits that keep people poor. So one of them is living and thinking in cash and so if you're storing your money in cash, you're not buying assets like you were talking about earlier, things that you purchased that give you money. The company that you're talking about building now, the company that I built, those are assets, apartment complex, and asset potentially, there's actually some complexities there. But buying into the stock market, right? Assets. Right. So if you're thinking in cash and the cash supply is being inflated, then you're buying power is going down. So you're going back to your point about the poor getting poorer. So we're pulling down their buying power. And then also just the way that you start thinking like an entrepreneur about like, I don't have the upfront capital. This is another mistake people make. Oh, that's okay for people that are already rich. They can do things that I can't do. But you weren't thinking that, right? So you, I'm sure went to people and they said, okay, cool, give us up for money. You didn't have it. So you go on to the next person. But because you keep going until you find the person that's like, okay, word. Come in, throw your party, I'll take half up front. You even find partners, again, paying them in equity, you're paying them with future money that you don't currently have. That one thing alone is a huge habit difference between people who think I trade time for money, right? I go and I work. I give you my time, you give me that money. Nothing wrong with that and it's the path that most people will take. Right. But for people that really want to understand what we're about to go through, because this could be nothing in a year from now, we look back on this video and we think, whew, thank God that it didn't get as bad as it could. But we could also be headed into a recession, like a deep global recession that could last a year or two years or more. Sure. So getting people to think more entrepreneurially, like your laying out in the story. I just want to orient people to the fact there's nothing necessarily different about you. Anybody can think like that and get the kind of results that you end up getting. I think it kind of goes back to what you were saying, it was before we started to roll in, where you said you were dumb. And so you asked a lot of questions. For me, I said, I was dumb because I didn't really care about risk. I never even looked at risk. For me, it was opportunity. That's all I saw. And it was just a way for me to get started. And I was called stupid and dumb all the time. And nowadays, if I'm not called stupid, it's probably not a crazy enough idea. And so that's kind of exactly what you're saying. I started making this little bit of money. And it started to grow, and it has some cash in the bank. And now I started reading these books and they talk about investing in real estate. I was like, all right, let's try this. So I was 19 at the time, and I started looking at real estate investment properties. And again, I didn't know what was normal. And I took my MCAT on August 22nd. August 23rd, I closed them a first real estate investment property. It was a small 1000 ft² condo water foreclosure and I bought it for 8 grand. I was a total price of the condo. And that's insane. The same condos sold for a 150 grand just a few years prior. And that condo then started paying me $600 a month. And now you talk about extending your time for money. So in the beginning, I don't understand that concept, because when I was working in this event planning company, it was just me. If I didn't do everything, nothing was going to happen. But then this real estate investment property changed the way I thought about it because now all of a sudden this asset. I bought this condo. It's paying me money and I don't got to physically go host a party. I don't got to go full of pretzels. I used to work at auntie and pretzels as well. I didn't have to go and do something. It was just there. I owned it. And now this condo is paying me for just owning the asset. And now all of a sudden I start thinking different, I started to get a little bit upset because I was like, wow, why was I never thought about this? We're not tired about investing. We're not tired about financial education. We're not taught about wealth. And that's talking about now money habits. Well, the next habit, you got to understand is you got to be able to ask questions because if you don't understand the way the system works, they're never going to be able to answer or ask the right questions. Because the way that the system works in across the board is in a company, you have the workers. Then you have the owners. It's kind of like an overlap. And sometimes the workers are the owners, some of them kind of in the center. But the workers are the ones that are not working every single day. You get your salary. The owners aren't working for a salary. They're working for equity, profits. So they're hoping that now the workers will be able to drive up the profits on other valuation of this asset is higher. Now, when you have the sort of inflation, who hurts the most, the workers, your incomes, don't grow to keep up with inflation. However, the asset value, which is now the value of the company, disproportionately gets benefited because now this money gets printed, it gets created out of thin air, it flows into assets, and that makes the valuation of companies, for example, to go up. So now you have these two things, right? You have the workers, any of the owners. This is how it goes to work. So it depends on what companies get that money. How did they decide? So this is the first time ever that they decide to buy companies stock. How did they pay money to these bonds? How does the fed decide? I have no idea how they decide. However, let's think of it this way. So stimulus checks went out, right? People get cash, you feel wealthier in the short term. Your bank account goes up, some people took this cash, maybe they paid off some debt. Maybe you go and invested this money, but a big chunk of people took this cash, and then they went out and they spent it. Well, if you need this money, well, yeah, and you had this whole range, right? Some people really need it. Some people went to Walmart. They went to Kroger. They went somewhere in the Bach groceries. But still, the money, where do they go? They went to Walmart, Kroger, and those companies have bigger profits because as money was printed, it goes into the hands of people, and then it flows to the corporation.

America FED Kroger Walmart
A highlight from Nick Donofrio - If Nothing Changes, Nothing Changes

Code Story

06:43 min | Last week

A highlight from Nick Donofrio - If Nothing Changes, Nothing Changes

"Hello listeners. Today I have Nick D'Onofrio on the show. Nick is a second generation American. Nick spent 44 years of his life at IBM as an electrical engineer and then as a technology leader. In 2008 he graduated from IBM and now holds board seats for dozens of companies. Nick is the co author of the book if nothing changes, nothing changes. The book is a powerful testimony to our ability as human beings to drive transformation, not just within tech, but across generations. With heart and candor, Nick explains how he led IBM's global technical team to embrace market centric, focus redefining innovation and sparking worldwide collaboration. Get the book on Amazon or learn more at Nick D'Onofrio book dot com. Will Nick now that people know a little bit more about you, tell me what this book is all about. Give me an overview about what this book is all about. People should self document. That's what this book is all about. It's about me documenting my life before somebody else decides that they want to tell the story. And they want to tell it their way. I want to tell it my way. But it's terribly important to not forget where you come from where you came from, how you got there. What lessons you've learned, and that was driving me. It took me 6 years working with the Mark Mike Demarco to put this book together. We made it a little harder by bringing 37 other people into the book, became obvious to me as I started the process that I needed to reconcile. The inside IBM, the before IBM, and the outside IBM parts of my life. And at one time, no, I was thinking of writing two books. But I got frustrated, told Mike, we were bringing them together and gave them the principles of operation for the book. This is the way it's going to be. This is what we're going to do. So the book became a labor of love. Just to be candid with you for the whole purpose of trying to help people understand the characteristics that I saw and developed and nurtured are probably in you. And you need to pull them out. You need to make sure. And there are basic principles that are taught in this book. They're not terribly complicated. I doubt you're going to find anything new here. You're just going to find interestingly different stories about how those leadership characteristics and traits matter. But I hear you saying, you know, writing your story, it makes me think about you. It makes me think about your story and what your legacy will be. So what do you hope for your legacy to be? You know, I wished it were so easy that you could determine your legacy. That's what goes through my mind all the time right now. I think others are going to determine that legacy for you in the end, I think all you can leave behind is great results. Great memories, great interactions. Great opportunities to help people make a difference. And to be totally candid with you, less concern about who gets the credit. I mean, I actually learned this lesson along the way and I use the word a lot enabler, I want to be known as an enabler. The person who enabled me to be as great as I am to do all the wonderful things I did, not the person who did it, but the person who enabled so many others, so I guess in some sense that would be my legacy if I if I were so bold is to think I could control it. That's how I would want. So let's dig into the book a little bit. So at the beginning of the book, you talk about immigration stories of your grandparents and your dad's childhood. In that, do you feel like you've achieved the quote unquote American Dream and it's hard to define what that could be. But I'm curious what you'll say there. I think my father and mother would say they did achieve the American Dream being, they may do with what they had, they crafted and forged the life from almost nothing from poverty and more importantly raised four wonderful children. Who went on each in their own way to do incredibly wonderful things. In the end, that's all there really is. When you think about the American Dream, my father's family, my grandfather and my grandmother, the only grandmother I knew, his mother was actually died short, shortly after the last son was born. They spoke very little English. I had to learn some Italian in order to keep up with them and they learned some English from me and it was all maybe a special language or a special dialect that we talked among ourselves. Coming out of that almost primordial lose is incredible. And while nothing was perfect, I'm not perfect. My parents weren't perfect. No one's perfect. They did live the American Dream. And got us into a position where we were able to use our free will to decide what made sense. And the opportunities were all there for us to decide. What to do. About your parents. Parents have, you know, the ability to guide and influence you. What is something that you took from them that you still live by this day? What from them? Maybe one piece, maybe there's more than one, but one piece of wisdom, right? You still live by today. The title of the book, if nothing changes, nothing changes, actually comes from my father. An uneducated man. He never finished tenth grade in high school. Tough guy. That phrase if nothing changes, nothing changes was chiseled in my head. The year between my junior year and senior year. And sometimes I get it a little confused. It could have been between my sophomore year, my junior year in high school, but it was in that time period. On the front porch, and I said to him, what do you mean? And he said, I don't really enjoy my life. But

IBM Nick Nick D'onofrio Mark Mike Demarco Amazon Mike
A highlight from How Todays Creators & Entrepreneurs are Leveraging Books for Growth with Matt Briel

Entrepreneur on FIRE

23:57 min | Last week

A highlight from How Todays Creators & Entrepreneurs are Leveraging Books for Growth with Matt Briel

"People disagree with? Yeah, what's up our nation? Hope everybody's doing well. I think one of the things that and hopefully I don't get any hate mail for this, but I think one of the things that is really important to being successful that a lot of people disagree with, especially right now is you don't need to present perfect or be perfect or create perfection. You just need to create value, audiences, crave, authenticity, and connection and value. So I see a lot of people. We all probably do who are making such a hard effort to present as perfect to present their products as perfect or their service is perfect. And I think that's a losing strategy these days. I'm actually surprised that you would think that that would cause any hate mail because the reality is, man, perfectionism is a losing game, fire nation knows that. I mean, I actually call perfectionists cowards. I literally use that word because when you are like, oh my God, I can't release this because it's not perfect yet. And I'm just a perfectionist. It's like, no, you're hiding behind the word of perfectionism because you're afraid you're a coward of releasing real value to the world. So get over yourself. And realize nothing's ever going to be perfect. Get it out there, adjust pivot improve. I'll never be a perfect podcast host. And I've done 3768 podcast interviews. But guess what? I'm getting a little bit better every single time, because I keep doing that thing. And fire nation today, we're talking about how today's creators and entrepreneurs are leveraging books for growth, so Matt, in what ways can books spark new opportunities? Yeah, I mean, I love this topic. Sparking new opportunities is not necessarily a new concept, especially when it comes to books, right? But the one thing that entrepreneurs and creators these days really need, especially early on, is attention. You have to draw attention to what you're doing, who you are, what your goals are, what your business might be. And books are a great way to do that. And a lot of people have learned that over the years, including yourself, including HubSpot, for example, so many people use books as vehicles for growth, building credibility and trust is the first step and books are one of the perfect tools to do this. Books are great for generating leads and awareness for your brand, for your business, for your online courses, whatever it is that you are creating and want the world to see and recognize. It's a great lead generation tool. Using a book as an intro to gain speaking opportunities on a conference circuit, right? So if you're in the world of marketing content or something like that and you want to get into some of these great conferences as a speaker, having a book being able to call yourself a published author on a particular subject or niche topic is an amazing way to add that credibility to your name and try to get on those speaking circuits. Podcast interviews. Having a book really helps with your credibility there and reaching out to podcasts and pitching yourself as a guest. You know, obviously a book produced passive streams of sustainable revenue. Sometimes more aggressive streams. And that's also important for early entrepreneurs and creators and people who are trying to get the word out there. It's a great recruiting tool. I mean, the list goes on and on. And you're certainly no stranger to that with your books and things. Absolutely. I found that all to be true and to be the case fire nation. I mean, think about a book. A book gives you these networking opportunities. You're going to meet people you never would have met before. It gives you these speaking opportunities. Actually, a reason to get up on stage and share the content within your book. And the podcasting that's matches talked about. I love when authors come to me and they want to talk about a topic surrounding their book because guess what? I know they spent months in some case years researching, diving deep becoming experts on that topic, becoming one of the best solutions to a real problem. That's out there. And that's what I want from my show. I want people that are coming on here and giving the best content to you fire nation to my listeners. I don't want somebody that's coming on saying something they think is this. They think is that when they haven't done the barest amount of research, I want people that have dived deep. You might not always agree with what they say, but I want to bring people on that at least have spent the time for research the topics, at least know a good deal about what they're talking about. And it can really be that calling card, that you use to say, listen, I have a book. It's published. Whether a traditional publish, self published, it is a calling card that lets people know that, hey, I care enough about this topic to have sat down and spent a big chunk of my time, my money, my effort, creating this thing. But let's get down to the actual mechanics mats. What is needed to create a book? Today, I'm more than ever. It's actually easier than you would think to create a book. And a lot of people, I think that's what stops them upfront is they're not really comprehending or capable of understanding just how easy it can be to publish a book. So the mechanics the logistics of creating the book these days. I mean, to simplify it, what you need is content, like you said, and that content can exist already, you might be somebody who's been blogging for the last 5 years around a particular niche topic. You've got a book. You've probably got three books right there. You could be somebody who's been podcasting, only for the last year. But if you've got show transcripts, if you've got great interviews or Drake topics that you've talked about, you have content right there. So what you need is content and an Internet connection. It's literally that easy to start working on a book and potentially publish it. And especially if you go the self publishing route, clearly you need to do some research and homework on who you're using. But today, with ecommerce, self publishing and print on demand and the tools that you have at your disposal, creating a book is literally coming up with the content, putting it into a PDF, literally picking a platform uploading that content, clicking the publish button. From that point, it infinitely spiders out into the possibilities of what you can do with that book, whether it's selling it, ordering it yourself and taking it to conferences to give it away. At any number of things. So really what's needed to create a book, it's that simple. Content and an Internet connection. You choose the right platform and you're off to the races. If you want to go the traditional publishing route, you're going to need a few more things. Obviously. And again, John, you're no stranger to this. You're going to need to look for things like who you might want to publish that book. Are you going to secure an agent to make life easier for you? And the answer to that is yes. But honestly, almost every entrepreneur I've ever met and creator these days, they really want to explore that DIY route. There's so many benefits to doing it that way. If for no other reason, the ease and flexibility and control that you have with your content and the speed with which you can get it to market, nothing wrong with traditional at all and there are a lot of pros to going that route, but it is a lot harder. It can take a lot longer. And ultimately in the long run, profits and things like that will be much less. So fire nation. One thing I will say is that I share this exact same piece of advice with people who are looking to start a podcast. It applies to books as well. And it's all based around what Matt was saying. If you can sit down and say, there's a problem that's not being solved. There's a void in the marketplace. There is something that I can create. There's a void that I can fill with my knowledge with my expertise with my passion with my enthusiasm. And if you can become the number one solution to a real problem in this world and create a book around that content and create a podcast around that content to fill in the blank whatever platform you want to use, you're off to the races because people will be the path to the doorstep of the number one solution to their problem. And they will ignore the second best solution through eternity. So you think you have a big idea. You think you have a niche within that big idea that's not being exposed. It's not being served properly. Go on Amazon, see what books are around that topic. And if there's nothing, well, that's an awesome opportunity. If there's some books there, but they're all crappy, and you can tell with the content because you've done your research you've read them, and you look through them, that they're not that great. We'll create the great one, create the best solution to a real problem around that topic. And we're going to be moving into selling books when we get backfire nation from thinking our sponsors. If you're a creator looking for new ways to connect and interact with your audience live, then I'm excited to tell you about speak easy, a new app made by creators for creators that is uniquely built to help you monetize your audience. All you have to do is download the speakeasy app, go live, and you'll be connecting with an interactive audience who can comment, give a live reactions. Join you as a guest, share with their friends and followers and more. You can use speakeasy in so many ways, live podcasting, show recordings, to upload pictures and videos you want to share with your audience or to host premium content people can subscribe to. Speakeasy doesn't censor content based on political religious or personal views. As long as you're not instigating violence, you can speak your minds. I'm going live on speakeasy daily fire nation, and I know you're gonna love this platform. So what are you waiting for? Come join me for my next live show, visit, get speak easy dot com to download the app, follow me at Johnny Dumas, and I look forward to chatting with you live. That's get speakeasy dot com. Are you looking for a place where you can exchange ideas, share knowledge, and find invaluable mentors, cofounders, and investors sounds too good to be true, right? Thanks to HubSpot, it exists. And right now you can get instant access to a community of 16,000 plus business builders at trends dot CO slash MFM. Trends is a HubSpot community for founders and entrepreneurs that tells you what the next big thing is going to be months before everyone else and delivers access to analysts vetted business ideas and market signals straight to your inbox every single week inside trends. You also have access to live virtual business training and Q&A sessions. They feel like MBA lectures where you can learn everything from advanced marketing techniques to how to get fundraising from venture capitalists. A 7 day trial of trans is yours for only $1 in a yearly subscription plus access to the community is $299 per year. Get a 7 day trial of trends for only $1 at trends dot CO slash MFM. That's trends CO slash M FM. Now we're back. We talked about what ways books can spark opportunities, what's needed to create a book, so much less than people think. And I want to move into the best method for selling books, specifically for audience connection, break that down. Yeah, absolutely. And this is really where I start to have some fun and love to keep talking. So you may have to cut me off. But again, as I talked about earlier, the evolution of the technology that we have right now, the tools that are available for creators and entrepreneurs to go out there and create content, regardless of medium or format, like you said. It's just amazing. And so there really is no reason to try the direct method. Selling direct to your customers to your followers to your fans to your readers, whatever you want to call them fire nation. If you have a name for your fans or followers, even better, right? But the best method right now is selling direct. And that's really solely for the purpose of creating those connections. Right now you have all these creators and entrepreneurs. And that's one of the things that they've struggled with for years is creating some real connection there to really help spark that growth for whatever that might be, whether it's their brand or a particular concept or a product or service. And so selling direct really gives you that ability to connect one on one without an intermediary sort of third party retailer or platform dictating the terms of that relationship, right? It gives you that open personal and exclusive way to sort of reach out and communicate with your fans and followers and potential fans and followers. And most importantly, it really helps you sort of consolidate your true fans and followers and customers onto whatever platform you want. Hopefully your own and you can own that experience 100%. So what we're seeing right now is this mass sort of adoption of selling direct primarily due again to the evolution of ecommerce tools that have come to light in the last three to 5 years, print on demand possibilities, whether that's books or anything else. And the platforms that are supporting all of these types of creators and entrepreneurs who are making this content. So hands down 100% selling direct. It doesn't mean you shouldn't go wide and also include your content in other channels. Amazon obviously that's a great way to add bestseller to your name. Putting that book out there on Amazon first with a few other strategies in place, you can hit bestseller status and game that system very quickly. And also bring in some extra sales. Obviously there are drawbacks to global distribution channels, but you should absolutely try everything and see what sticks best. But we're finding that most people these days are having the most success connecting with their communities by selling direct and creating those exclusive one on one relationships and it just feels more personable and it feels more relatable. Fire nation, there's so much greatness within here for the best for selling books with the key phrase of the audience connection part. And like Matt did mention, there's a reason why I turned to you during these audio interviews. You can't see me turning to you fire nation, but you can hopefully hear me turning to you and saying, you fire nation. I want to directly connect with my audience. Because yes, Matt and I are having a one on one conversation. But I don't like the thought of always having you my listeners as just quote unquote flies on a wall. Just observing a conversation of two people. That's cool. I listen to a lot of podcasts that's the case. But I love bringing you my audience and having that audience connection. And when it comes to selling books, you can really make sure that you're focusing on that engagement piece. Now, let's talk about the benefits of selling books directly. I'm really curious on what you found to be the case here, Matt. And this is where you get into the details of the results and fruits of your labor. And there's three main benefits. I mean, again, I could give you a list of 50 to 60 and we'd be here all day, but I'll touch on the three main ones that we're definitely seeing, and this is a platform agnostic, right? So whether you're using the platform, I work for, whether you're using any other platform. If you're selling direct, these are three main benefits that you're going to expect to gain. And they're probably three of the most important benefits of selling direct and of sort of putting your brand out there front and center and trying to create those connections. So the first one is you are going to retain and keep all of your customer data. So as of right now, when you sell a product, whether it's a book or anything else on a third party retailer platform, the only data you're really going to get for the most part is the actual sales data. Most often, you do not get any customer data. And in some cases, maybe they give you some high level customer audience metrics, but it's nothing that's really helpful for you to foster those connections in that communication with your purchasers and customers. And that's really important as we move forward in a world where you really need to make sure that you're owning that journey a 100% and that you're owning those relationships as best as possible for long-term growth. So keeping that customer data is so important and that doesn't even take into consideration a lot of the things that we're going to be dealing with here very soon with the loss of third party cookies and things. So creating that first party data and owning those relationships can not be overstated enough. So that's number one. Number two, and I just touched on this a little bit. When you sell direct, you're taking another step in sort of breaking platform dependencies. And what that means is for anybody out there that's already selling communicating, trying to create these relationships with their followers and their fans on the platforms where they built those audiences like social media, which is obviously the most popular right now. So you're out there, you're cultivating fans and followers. Maybe you've got 10,000 people following you. Maybe you've only got 5000. But the reality of it is those aren't even your fans or followers. Those aren't your, that's not your data. The minute there's an algorithm change, like everybody has been dealing with. You could potentially lose all of that. It's not yours. You don't take it with you to a degree. However, the more that you can migrate true fans and followers over to a platform where you do have ownership where you do control kind of what happens that experience and the way that you connect with your customers. The more that you can do that and the more of those other platforms that you can become independent from them and not rely on them so much, you have a much better shot at growing your community and sustaining long-term growth. It doesn't mean those other platforms aren't good for something. Of course they are. That's where we go to farm for new followers, new fans, people we want to bring over to our platform, whether it be our own website or some other tool or software you're using newsletter service, whatever that might be. But again, even in the world of podcasting, everybody understands the importance of not being 100 dependent. 100% dependent on a specific platform. So number two is it puts you one step closer to breaking platform dependencies. And again, super important. Number three, some people may rank these differently. I'm not necessarily ranking them in order of importance per se, but these are the three most popular. And the third one would be, obviously, you were keeping all the profits from your book. When you sell through a third party retailer, you're not keeping all of the profits. And not only are you not keeping that customer data, but the third party retailers, they're keeping the majority of the profits from your book. And so as you said, in many cases, it might take you months to put together a book. It might take you years. But either way, that's your book that your content. That's your connection to your audience. And to give away your customer data, that's bad enough. But then to give away 75 80% sometimes of your profits, royalties from those book sales, that really just puts you at a disadvantage. So when you're selling direct, I've not seen a case yet where you're not keeping almost all, if not all of your profits. And that's really important, especially as you're trying early stages to build a business or a brand, a service or a community. So I would say those are the top three main benefits, but the list is definitely much longer. Love all those topics and love all those points, fire nation. I hope you take some great notes here. And the one that I want to circle back to that's I'm such a believer in is own your sandbox. You've heard that phrase before likely, but it's so key, it's so true. So many people have been so reliant on different things over the years, whether it be Facebook advertising, Instagram, TikTok, other platforms that all of a sudden they wake up one morning, Google search is a great one. And boom and updates happen, boom, an algorithm has changed and boom their business went from awesome to horrible, literally overnight. And if you can own as much as you can, of your platform, whether it be your podcast, your email list, your book, your blog, whatever that is. That is your protection. So again, you go, you play another sandbox, because that's a great place to farm, like Matt was saying, but at the end of the day, you know where home is. You know that you have a base foundation that if everything else crumbles around you, you have this as your own to start to build upon again. And by the way, you're building from a great foundation because you've built this great sandbox yourself. Matt, you dropped tons of value bombs, brother. Give us the one key takeaway that you want to make sure fire nation gets from our entire conversation about how today's creators and entrepreneurs are leveraging books for growth. I think the one key takeaway is that this is within your reach. Again, I spoke about those technologies that have been evolving. And what we're seeing right now is that definition of entrepreneur is widening and as those technologies continue to evolve and all these new opportunities open up, we are going to see people identifying as entrepreneurs much more than we ever have in the past. And so the key takeaway here is to get out there and do it and if you've been inhibited in the past by fear of handling that business side of monetizing your content or building that business or building whatever that small endeavor might be into something bigger, there are tools out there that will help you do this quickly and easily. There are tools that will help you get over some of those speed bumps in those fears that you have of just getting out there and doing it. So I would say the key takeaway is don't be afraid. Get out there and do it. Use a book to really build that credibility and start growing your brand. I love all these topics fire nation. I love this content. I love what we're talking about here about owning your sandbox about creating amazing solutions for your audience. Those opportunities, those methods, those structures, those platforms. Matt, a fire nation wants to connect with you. If they want to learn more, give us a call to action, and then we'll say goodbye. Yeah, absolutely. I appreciate it. You can find me on LinkedIn. That's where I'm at the most. And again, my name is Matt breel. I also work for an organization called Lulu dot com. Very easy. Dot com. No, we don't make leggings or anything else. We are self publishing print on demand ecommerce company. So we work with creators and entrepreneurs and authors every day. And we'd love to talk to you as well. So I appreciate it, John. Listen, it was great chatting with you Matt. He dropped some great value bombs and fire nation. I hope you realize that you're the average of the 5 people you spend the most time with and you've been hanging out with MB and JL D today. So keep up that heat. Head over to eo fire dot com. Type Matt in the search bar. This show must be pop up with everything that we've talked about today. Best show notes in the biz. Matt, thank you for sharing your truth, your knowledge, your value with fire nation today for that we salute you and we'll catch you on the flip side. Thank you. Hey fire nation, a huge thank you to our sponsors and Matt for sponsoring today's episodes. Fire nation over the last decade I've interviewed more than 3000 of the world's most successful entrepreneurs. And I've created a revolutionary 17 step road map to your financial freedom and fulfillment. I put it all into my first traditionally published book, the common path to uncommon success, personally endorsed by Seth godin and Gary. They nurture. The common path to one common success is the step by step guidance that you need to achieve the lifestyle of your dreams, visits uncommon success book dot com to order your copy, and I'll catch you there. Or I'll catch you on the flip side. Speakeasy will allow you to create content for your audience live, earn recurring revenue from monthly subscribers, stream private shows for select attendees and more. I am loving creating daily content on speakeasy and I think you will too visit get speakeasy dot com to download the app and start rolling. Success story hosted by Scott D clary is brought to you by the HubSpot podcast network. The audio destination for business professionals success story features Q&A, keynote presentations, and convos on sales, marketing, and more a recent episode on how to protect your business in times of crisis is a must listen. Listen to success story, wherever you get your podcasts.

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A highlight from MBA2181 How To Find Your Sales Machine

The $100 MBA Show

16:25 min | Last week

A highlight from MBA2181 How To Find Your Sales Machine

"Reason. It's the best. It's super fast, it's secure, and their support team is out of this world. It's like having your own technicians on call 24/7. Most of the time, when I need something done, and I get on chat, they don't tell me what to do. They just do it for me. Exactly what I want. If you're hosting a website, especially a WordPress website, check out WP engine, and as a listener of the show, you can get 20% off. Just go to WP ENG dot IN slash MBA and use code WP E two zero off. WP engine, the best way to host your website. So let's build your sales machine right now. Whatever your business is, whether it's a product, a service, a software, a course, coaching, whatever it is, you need a system that does three things. One, a system that provides a marketing channel. This is a channel that will allow to get you traffic to your website. Two, you need a lead conversion strategy. You need a way to gather leads so that you can contact these potential customers that will lead you to step three, sales conversion. You need a way to convert these leads into customers. So there's three steps here, a marketing channel, a lead conversion strategy, a sales conversion strategy. Now, a lot of business owners over complicate this. And I'm here to tell you the best thing you could do for your business right now is to focus on one of each of these. You need to decide today, what is one marketing channel that you can utilize to bring traffic to your website. You're also going to need to decide what's one lead magnet. What's one way to get people to sign up for your email list and become a lead in your CRM. And then lastly, what is one way that you can utilize to turn those leads into sales. And I'm going to give you examples of each of these in today's lesson. So let's start with marketing channel because it's probably the most important part because without an audience without traffic to your site, none of the other steps leads or sales are going to happen. So what I'm asking you to do is to focus on one channel right now. Because this is the channel that's going to allow you to leverage the other parts. So how do you choose how you get traffic? There's so many ways you can get traffic to your website. You can go all in on Facebook. You can go all in on paid ads. You can go all in on being the king of Twitter. You can go all in on SEO and writing great blog posts. You can go all in on podcasting like I have. You can start a YouTube channel. All these are marketing channels. There are ways for you to get in front of an audience, give them value of some sort so that they can check you out. Go to your website and learn more. Choose a marketing channel, just one. Why? We want to focus our efforts on one marketing channel that leads us to our site where we can then turn them into a lead. It's very hard for you to build the sales machine when you're spreading yourself so thin, trying to be on every single marketing channel. Build out your marketing channel first, ensure it actually gets you leads, and those leads turn into sales before you start exploring other marketing channels. The goal here is just to get one sales machine going that consistently gets you customers and then you can then say, okay, I have all three parts that they're working like gangbusters, amazing. Let's now move on to another marketing channel. Let's start with only one right now. So how do you choose? Well, my advice is to choose a marketing channel that allows you to leverage your strengths that allows you to leverage the value you can add. For me, I chose podcasting because it allows me to leverage my strength, which is teaching. It's something I've been doing all my adult life. I used to be a high school and university teacher. I have multiple certifications and degrees in education and assessment. This is what I do. This is what value I can add to the world. And the best way I could do this is via podcasting. It's something that I enjoy. It's something that I'm good at. It's something that I have invested the time to get better at. So for this example, my example podcasting works well for me. It might be different for you. You might enjoy video production and want to start a YouTube channel. You might be a writer and love writing long form blog posts. You might be a witty writer that can be concise and snappy and Twitter is your jam. But the point here is that choose choose something that does two things. One allows you to leverage your strengths, why? Because it allows you to have some sort of competitive advantage. It gives you a higher likelihood of success, increases your odds of success, right? And then two, something that you enjoy because you have to somewhat enjoy it because you're going to have to do a lot of it. Because again, we're focusing on just this channel. Once you've decided on your marketing channel, we're then going to explicitly on that marketing channel ask people to do something to go to your website. A call to action. Why? Because on your website, you can offer something of value. Again, for their email address. So they can become a lead. So for example, if you go to one zero zero NBA dot net. On the homepage, we have a lead magnet lead magnet. What does that mean? Well, we have a template that you can have. They're actually four templates of different kinds of lead magnets that you can create. Ebooks, checklists, cheat sheets, things like that. And we give you these templates. And that's our lead magnet. You sign up with your name and email address, and we email it to you. So your job is now to find one killer lead conversion strategy. Think about your ideal customer. Think about the product you sell, the service you sell, what kind of customers do you want? What are some things that they would need and be of value to them? And give it to them for free in exchange for their email address. In my case, I know that my customers who are business owners who are growing online are always looking for new ways to grow their email list with a lead magnet. But it's really painstaking and time consuming to create one from scratch, so I gave them some templates as a lead magnet. It's pretty meta, I know. But templates are great. And the temples I've created attract the kind of customer I want doers, action takers, people that are looking to grow their business. Because those are the type of people that make great customers for me, which is to sign up for a $100 MBA program, which is a live two day course, or maybe even our mission control coaching program. So create your strategy to get leads on your site with a creative lead magnet, something that people want. That step two don't try to get people to sign up for your email list in so many different ways. Just focus on one right now. One that works that converts one that is really attractive to your ideal customer. Too many people are like, sign up for this. It's sign up for that. And we have this thing that's for free too. And our newsletter, no, focus on one, put on your homepage, make sure it's on every page or easy to find in your navigation menu. If you want an example, I can go to our website one zero zero NBA dot net. So we have our marketing channel. We now have gotten them to our website, and now we're converting them in our email list via our lead magnet. So we have a lead conversion tool. Now to complete this, we need a way to turn these leads into customers, a sales conversion system. And there's many ways to convert leads into customers. You can call them up. On the phone or schedule one on one, video calls. You can invite them to a webinar, and demo your products and services. You can really just focus on converting them via email automations and email offers. You can offer them a freemium version of your product and let your product do the selling for you. There are so many options, but your job is, you guessed it, choose one. Let me give you some examples from my own businesses. With webinar intro or software company, we invite our leads to a workshop slash demo. So we show them how they can leverage our software to grow their business. So we do a workshop demoing the software answering their questions and showing them how it actually can help them achieve the results that they're looking for in their business. So we actually make it relevant for them. And we do this webinar every two weeks. Now, if I wanted to, I can just focus on email and say, hey, sign up for free trial, because we have a free trial. They can sign up for free. They have 14 days to try it out, and we have a great onboarding system that can actually sell the software for us. But I experimented. And you should do the same. Emails were working great, but then I started doing webinars and these workshops and they did better. And my guess is, it's because I'm again leveraging my strengths. I do webinars because I love to teach and it's my forte. And I get to do what I'm good at to help sell my products or services. Let me give you another example of a sales conversion strategy that's part of your system. The $100 R&B. So people go to my website, they sign up for my lead magnet, they get it, they enjoy it. Now they're on my email list. Throughout the year, we open enrollment to our life course, the $100 MBA. It's a two day live course. Where I help entrepreneurs become better entrepreneurs, a 100% guaranteed. We actually guarantee it. It's a $100. Now, this is kind of like a paid sales tool. Now, yes, I'm making money on this course, but I'm giving them a ton for a $100. I'm giving them two days of my time. I'm answering questions. I'm coaching. There's a workbook. There's a whole bunch of stuff. They get access to the recordings for life. All kinds of value. And why am I doing this? Well, because I want action takers, I want people that are willing to invest in themselves. And a $100 is a very low ask for everything that I'm giving. So we get tons of students signing up to this course. And this becomes my sales conversion tool. Why? Because it gives me a chance to show people how I can actually help them and have them transform who they are as an entrepreneur in just two days. Once I do that, they'll be happy and convinced to sign up for my mission control program, which is an accountability coaching program. I use the course as my sales tool, because I know that if I show my stuff, I can prove it to my customers, that if they invest in me, they're going to get a return on investment. And the best way for me to do that is to allow them the chance to invest in me. So they buy the course for hundred bucks. They get an incredible return on investment, which makes it so much easier for me to sell them. Something that can help them in their next steps in their business journey. So it's your chance now. Your choice, how are you going to sell to your leads? Choose again something that will leverage your strengths. Also a way for you to actually show your value. Show the value of your product. So for me, with webinar ninja's software, I can show the value by dimming the product. People could see it. They just look to see the value by trying it for themselves for free. That's the best way I can sell it to them. So what's the best way to sell your product or service? Guys, I got more on today's topic. We got some decisions to make, but before that, let me share with you some of our favorite tools. We all know the power of an email list and growing our email list, but managing it automating our emails, making sure they actually get into the inbox, that's where ConvertKit comes in. ConvertKit is an all in one email marketing platform. I've used a lot of different email marketing platforms. And we use ConvertKit for a reason. It just works. It does what you need it to do. It's simple. It's easy. And it keeps improving every single day. Plus, you can start for free. Go ahead to one zero zero NBA dot net slash ConvertKit to get started. Support for today's show comes from a webinar ninja. Know what really sells your product or service. It's not marketing your ads. It's you, your blog, your social feeds, your podcast. These are always we try to share ourselves our value and build trust with our audience. But what if you can go even further? But if you can connect with potential clients or customers in a way that's even more personal, more engaging, more effective. Well, that's where webinars and webinar ninja comes in. Hosting a live lesson, product showcase, or Q&A session, is the best way to share yourself and prove yourself to an audience. But wait, you're thinking, aren't webinars a giant pain in the ass? Yes, yes they are, but not with webinar ninja. Webinar ninja has one job to make webinars easy for you. It's the user friendly a software ever created for webinars. So you can focus on your audience, not the tech. And here's the best part. You can get started with webinar ninja for free. Every plan comes with a free 14 day trial. And because you're a listener of this podcast, we got a real special deal for you. Go to webinar ninja dot com and at checkout, use promo code MBA. And you'll get 15% off your first month or your first year. Again, that's webinar ninja dot com use promo code MBA for 15% off your first month or your first year. Can't wait to see you inside the software and our community. To wrap up today's lesson your homework is to make three decisions and take action. First decision, choose your marketing channel. Where are you going to start building amazing content to bring in traffic to your website? Number two, what's your lead conversion strategy? What are you going to offer to people so that they can convert over to your email list, sign up for email lists so that you can then invite them to your sales conversion strategy, whether that's webinars with the course, whether that is a freeing product, whether that's through email marketing, there's lots of choices out there. But choose, your job is to make a decision. And guess what? See this as an experiment. It's not make or break. Let's say you make a decision today on your marketing channel on your lead conversion strategy on your sales conversion strategy. And it's not perfect. It's okay. You can tweak it. Maybe you want to change up your lead conversion strategy. Maybe your sales conversion strategy, maybe even your marketing channel. But get started and get going. And the best way to get started is to make decisions. Because once you make a decision on all these three things, all that's left is for you to take action. And what holds back a lot of people is that they have pending decisions. Don't let that happen to you. Don't let the pending decisions stop you from taking action. Making decisions is powerful, exercise it, and I encourage you to do it today. Thanks so much for listening to the hunter army show. If you love what you hear, leave us a rating and review, we'd love to hear what you think of the show. Leave us a rating review on Apple podcast or leave us a rating on Spotify or radio or wherever app you're using to listen to this podcast. Leaving a review is a great way to support us, support our content in the show, and let other people know, hey, this show's all right. Thanks so much for listening. Before I go, I want to leave you with this. As simple as today's lesson was, it actually makes your life easier by having a streamlined three step process of converting your customers, getting customers, first of all, and then converting them. And when I say customers, potential customers, of course. You need to have a laid out system so that you can analyze it. You can improve it. You can tweak it. Because without an actual system, without parts to the system, you're just wishing and hoping and kind of just throwing things and seeing what sticks to the wall. This gives you a strategy that you can tweak, change, improve. And once you actually hone it in, dial it in. It's amazing, because you have a way to get customers on demand. Just increase the volume through ads or through promotions on your marketing channel and you'll get more leads and you'll get more sales. Pretty cool. Thanks so much for listening and I'll check you in tomorrow's episode. I'll see you then. Take care.

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A highlight from S7 Bonus: Michael Zuercher, Prismatic

Code Story

08:09 min | Last week

A highlight from S7 Bonus: Michael Zuercher, Prismatic

"Of MVP phase at proving the most key parts of our thesis. One of the advantages of what we were doing is that we understood our problems pretty closely because we had previously experienced them, but one of the risks of that is that I think you can over index on your own experience. And so we were pretty focused on building just enough to kind of act as a prop almost in conversations with some of those early beta customers or private beta customers where we essentially just wanted to make sure that our view of the world wasn't so unique that this wasn't a real market. My name is Michael Zucker and I'm the cofounder and CEO of prismatic. This is code story. The podcast bringing you interviews with tech visionaries. Who share in the critical minds of what it takes to change an industry and build and lead a team that has your back. I'm your host, Noah lab part. And today, how Michael Zucker built a platform he wished he'd always had to integrate solutions to your platform. All this and more on code story. Michael Zucker has been in tech since he was young, starting his first company when he was 19 years old. A lot of his path to his current place is through that prior company. He's married with three kids living in South Dakota, and is a pilot. Beyond these things, he's a machinist as a hobby. In fact, he created logos cut out of metal for his current team as they shipped their MVP. In his prior company, Michael built a numerous amount of productized integrations across his platform and thousands of customers. No matter their state of growth, these integrations were always a significant challenge. After selling the company in 2018, he decided to build the thing he wished he had back then. This is the creation story of prismatic. Prismatic is an integration platform that is focused on helping software companies provide integrations to their customers that connect their product to the other products their customers use. So as a software company, no matter what your product is at this point in the evolution of software, you need to connect to lots of other things. And those integrations can, in some cases, be pretty simple and in some cases be pretty complex, but regardless, there's this kind of whole layer of complexity around providing those in a scalable and reasonable way. And prismatic is a platform that enables software companies to build and maintain those integrations easier to deploy them to large customer bases in an easier way, and even to provide a user experience to their customers such that they can turn those integrations on and off, make configuration changes that kind of thing. I previously had a company that did software for law enforcement. And I grew that for about 16 years. And in that process, we built 600 productized integrations across our customer base. So we had a couple thousand customers, 600 integrations from our product to other products that our customers law enforcement agencies used. And as we grew, that was a huge burden on our ability to onboard quickly on our sales cycle, and it was a just kind of whether we were small or whether we as we got larger. It never stopped being a really significant challenge. You know, we did all kinds of things as we grew over the course of, you know, more than a decade to address some of those problems. You know, and we even went out and basically tried to find a prismatic like thing to buy and use internally, but what we kind of came to realize is that although there are lots of integration platforms in the world and there certainly were, you know, 5 years ago when I was in my previous company as well, none of them are really focused on helping software companies like I said before connect. Their products to the other products their customers use and my previous company we experienced exactly that. So I sold that company in 2018 and exited. And in that process, it kind of stuck with me, I guess, that integrations at that company were a somewhat unsolved problem at least at scale. Like I said, I moved on and my previous CTO pulled the ripcord about a year after I did and left my previous company. And so he and I and one other person teamed back up to start prismatic to essentially say, we're going to build the thing we wish we always had. Let's dive into the MVP then. So tell me about that first product you built. How long it takes to build and what sort of tools did you use to bring it to life? You know, the MVP for us is a little bit of a probably a fuzzy area. It wasn't, it wasn't like we had this exact vision of exactly what an MVP was and when we built it, we suddenly put a stake in the ground and said, here's the MVP. But, you know, over the course of the first 12 months or so, we kind of built toward a, you know, something approaching a version one and I think somewhere along there you would call it an MVP. We were in a unique situation in a way we were our own first customer from our experience. We were able to use that to build an MVP, I guess, kind of fairly deeply fairly quickly. We also had some really great kind of early private beta customers that we worked with along the way. We're a software product. It's a platform. And so, you know, I guess from a tool's perspective, we built it with all of the software development tools you'd expect, you know, node and TypeScript, and it's built on top of AWS, and as python in the back end, and a PostgreSQL database. So, you know, I guess, I guess in a lot of ways, just kind of a traditional software stack. Obviously, as we got kind of closer and closer to a real version one over that first 18 months, the product kept getting more and more complex and tooling got more and more complex with it. And then, you know, we kind of had this stake in the ground as we ship what we called a version one and I think it was probably a bit beyond the classic MVP. That's when we felt like we could have mission critical customers on the platform in a real way and we've been growing ever since then. Let's stay on the MVP for a little while and maybe at a high level I could extract from some of the things you're saying where I want to go with this next question, but I'm going to ask it open. With any MVP you've got to make certain decisions and tradeoffs right around. Maybe feature cut, tech deck, focus the whole thing. Tell me about those decisions that you had to make and specifically how you coped with those decisions. Yeah, so we were really focused through that kind of MVP phase at proving the most key parts of our thesis. One of the advantages of what we were doing is that we understood our problems pretty closely because we had previously experienced them, but one of the risks of that is that I think you can over index on your own experience. And so we were pretty focused on building just enough to kind of act as a prop almost in conversations with some of those early beta customers or private beta customers where we essentially just wanted to make sure that our view of the world wasn't so unique that this wasn't a real market. And so we made tradeoffs, I guess, kind of with that in mind. We wanted to do whatever it took to prove out X, Y, and Z pieces of the thesis. We would build just enough to do that. And, you know, and obviously in the kind of classic way, if it ends up that you were wrong, you don't have that much to throw away because you didn't build that much. Obviously, you know, you're also making some tradeoffs. You mentioned tech debt. You're also making some tradeoffs around. I suppose things like tech debt, but also things like scalability. You could build a platform like prismatic. Infinitely scalable from day one and you would never ship version one. Or you can drive to a version one and try to make good decisions along the way, but expect that you're going to do some of that scaling work and eliminate some of the tech debt decisions as you go. And so certainly we made those tradeoffs as well. Some of those are really obvious and easy to do. Some of them are pretty painful in

Michael Zucker Prismatic South Dakota Michael
A highlight from 3 Things Holding You Back From Doubling Sales This Year with Amanda Holmes

Entrepreneur on FIRE

00:46 sec | Last week

A highlight from 3 Things Holding You Back From Doubling Sales This Year with Amanda Holmes

"Who's ready to rock today fire nation, jail D here and welcome to entrepreneurs on fire brought to you by the HubSpot podcast network with great shows like success story podcast. Today we'll be breaking down the three things holding you back from doubling sales this year to drop these value bombs, I have brought Amanda Holmes in the eo fire studios. The ultimate sales machine is a cult classic for anyone wanting to double their sales 250,000 businesses have been served in over 30 years and Amanda has been a CEO for 8 years after her father and founder Chet Holmes passed away. And today, foundation, we'll talk about the three huge threats that are holding us back from doubling our sales. We're talking about making money fast. We'll talk about the death of a salesman in the birth of

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A highlight from MBA2180 Q&A Wednesday: Should I curse on my YouTube channel?

The $100 MBA Show

08:16 min | Last week

A highlight from MBA2180 Q&A Wednesday: Should I curse on my YouTube channel?

"I've been a YouTuber for about two years now and I've grown my YouTube channel to 20,000 subscribers. Up to this point, I have not used any colorful language. Even though normally I do swear in my personal life, hey, I'm Australian. My question is, is it okay for me to curse on my YouTube channel? I'm a little bit worried about alienating some of my viewers or maybe disrupting or making the YouTube algorithm angry with me. I would love to hear your thoughts on this topic because a part of me wants to show my authentic self, but another part of me doesn't want to ruin what I've built. Thanks Omar. Thanks for the question, Frank. And it's a good one. And I'm going to give you an answer. I'm going to give you my opinion when it comes to this topic. How best for you to make this decision. And I want to start out by saying, there is no right or wrong answer. There's only what's right for you, because there are very successful YouTubers out there that don't curse. That keep it clean and there are a lot of them that do. And they are very successful. First person comes to mind, Gary Vaynerchuk, probably can't say a few sentences without dropping an F bomb. You know, I'm just playing Gary is great value. But he's not everybody's cup of tea. We're going to get to the pros and cons and how to make a decision if you should curse in your content, whether it's videos, podcasts, blog posts, tweets, we'll get into it and make sure you have an answer. Let's get into it. Let's get down to business. Support for today's show comes from capella university. A capella university education is a smart as the world around us. With the flix path format you could take classes at your own pace, set your own deadlines and even leverage your previous experience to move faster. Now that's smart. Learn more at capella EDU. We also love WP engine. We host all our websites on WP engine, and it's for good reason. It's the best. It's super fast, it's secure, and their support team is out of this world. It's like having your own technicians on call 24/7. Most of the time, when I need something done, and I get on chat, they don't tell me what to do. They just do it for me. Exactly what I want. If you're hosting a website, especially a WordPress website, check out WP engine, and as a listener of the show, you can get 20% off. Just go to WP ENG dot IN slash MBA and use code WP E two zero off. WP engine, the best way to host your website. So in today's Q&A Wednesday's question Frank Astor Chris on his YouTube channel, here's the truth. If you don't curse on your YouTube channel or any content that you publish, you will alienate anybody for cursing. Now you might alienate people for other reasons. Your views, your ideas, maybe your style, your humor, whatever. And I see the point that some people make, like, why anybody for this reason? Well, here's an argument for considering cursing if that's part of who you are. Authenticity is really the magic key of online content. What do I mean by that? Well, if you are somebody who uses colorful language every single day, it's who you are, showing who you are, including the cursing, is part of your authenticity. Now, if you don't curse in your normal life, that is being authentic and sticking to it is part of the values that you hold and you share with others. And people respect it. It's not the actual cursing that matters here. It's the actual authenticity, because when you're holding back the way you express yourself normally, there's something inside of you telling you not to be who you really are or to present something other than your real self. This is what I found in my own experience. You kind of get into this headspace where you're trying to be this buttoned up professional person, this alter ego, this other persona. And whether you recognize it or not, people can feel that at some level. Just look at the people that you like, you follow, you watch on YouTube. Personally, when I look at the people that I watch and subscribe to and watch every episode, is people that are unapologetically themselves. A good example of this is like van Neistat. Van Neistat is actually Casey Neistat, the big time YouTuber's brother. Van is totally different than Casey. His videos are so original because he is himself. He's a little bit quirky, a little bit nerdy. He's a fixer upper guy. Doesn't have a fancy wardrobe. He doesn't have a fancy anything. He's not a fancy guy. He's not over the top. He's not boisterous. He's kind of mundane in some way. But that's who he is. And it shines through. And I enjoy it so much because I feel like I know him. And it's unique because he's being himself. Does he curse? I think sometimes. And my guess is he curses when he would normally curse when he wasn't in front of a camera. In this case with Frank, I would say just be yourself. If you feel comfortable using colorful language, and that brings out your real personality, then go for it. Hey, I got a lot of Australian Friends. Cursing for them is like drinking water. It's totally normal. It's not even seen as low brow. Just seen as being down to earth. Now, will people unsubscribe or not watch your videos anymore because you curse? Well, people that don't resonate with that might do that. But I think in the long run, this is my personal opinion. In the long run, you'll attract your kind of people. The people that like you for who you are and that connection will be stronger and you'll have a stronger subscribed audience, which means you'll have a higher quality audience than people that don't really resonate with you strongly. I'm not here to argue if you're using foul language or cursing or whatever you want to call it is a bad thing or a good thing. I'm a no judgment guy. I actually think that if this is part of who you are, be who you are. And by the way, who we are sometimes changes. I use a curse a lot in interviews and on videos. When I was younger, as I've gotten older, I just don't do this often. And it's not even intentional. I think my temperament in my attitude towards things changed over time. And it's not a good thing or bad thing, it's just a thing. And it could be the other way around. Somebody could not curse on all of a sudden, start Kirsten because it feels more natural to them. So here's the moral of the story. If you change anything you're doing in anything in your business, the messaging the way you do it. In this case, cursing, you're going to alienate some people. People are not going to like it. Even small subtle things. But other people will really love it. It's going to be interesting to them. It's going to resonate with them. They're going to tell others. The volume and the velocity of that interest is much higher than somebody just being okay with you being normal or not offending them. I always say in business, the worst thing is being ignored. And I'm not saying be controversial for controversial sake. But I'm saying if you strike a nerve with somebody and they disagree with you, that's not necessarily a bad thing. It's actually a good thing because it means you have a point of view. And you stand for something. I'll give you a totally different example. That has nothing to do with cursing. At webinar injured or software company, last year we started a new initiative. We stopped doing Black Friday. We just felt like it wasn't aligned with our values as a company. This idea of stampeding crowds and screaming promotions. So we started a new thing called green Friday. What screen Friday? Well, during the period of time of that Friday through Monday that we now call green Friday not Black Friday or cyber Monday, we plant 20 trees on behalf of every single customer that signs up during that time. We teamed up with one tree planted to make it happen. And customers even get a certificate certifying, they planted some trees. It's a little bit different. It's a little bit quirky. Some people thought, oh, this is not great. I want 50% off. And that's okay. We're not going to resonate with everybody. But people that like this initiative think that this is cool, care about the environment, think it's awesome to be planning trees, and it gives them a reason to buy during this time. They're going to love it. And by the way, it stands out more than another Black Friday deal. It's a little bit different. So it's okay for you to not be accepted by everybody. That's fine. You don't need to convince the world you're amazing. Just the people that are aligned with you aligned with what you're all about and resonate with your message. I got more on

Youtube Capella University Frank Astor Chris Gary Vaynerchuk Van Neistat Casey Neistat Frank Omar Gary Casey VAN Kirsten
A highlight from Gensler: Diane Hoskins

Wisdom From The Top

01:00 min | Last week

A highlight from Gensler: Diane Hoskins

"Ted radio hour, we go on a journey with Ted speakers to seek a deeper understanding of the world. And to figure out new ways to think and create. Listen now. This interview of wisdom from the top was recorded in 2020. From luminary built at productions and NPR, it's wisdom from the top. Stories of crisis, failure, turnaround, and triumph from some of the greatest leaders in the world. I'm gay ra's, and on the show today, Diane Hoskins, co CEO of gensler, the largest architecture firm in the world. We don't have stars. We have ideas, and we have a very open platform. Today, we need to solve problems that have not been solved before. And we have to be innovative, which means we need everybody's ideas on board. Diane Hoskins went from the drafting room all the way to the

TED Diane Hoskins NPR Gensler
A highlight from The 3 DAILY HABITS That Destroy Your Health & DECREASE Lifespan! | Bob Hariri

Impact Theory with Tom Bilyeu

09:23 min | Last week

A highlight from The 3 DAILY HABITS That Destroy Your Health & DECREASE Lifespan! | Bob Hariri

"What's up guys? I am bringing you another episode with the doctor that pioneered the use of stem cells to treat disease. Bob Hariri is not only a neurosurgeon and biomedical scientist, he's also a serial entrepreneur and co author of the number one New York Times Best Seller life force alongside Tony Robbins and Peter diamandis. Today we're talking about the three things that can be shortening your lifespan, doctor Hariri's life-changing insights on stem cell treatments and the idea of introducing younger cells to your body for longevity. I hope you guys love listening to this episode as much as I enjoyed recording it and if you do please leave a review on our podcast, it really is the best way to support us so that we can get this show out to more people like you that want more from their life. I am Tom bilyeu and welcome to impact theory. What we put in our bodies impacts our health, our lifespan, our mental state. We live in a world where there are so many choices. The vast majority of choices are not great choices. People will often take the path of least resistance, and they'll get the fastest, most available food for their day. In many cases, what they're doing is they're poisoning themselves. Doctor bob harrari, welcome to the show. Tom, good to see you. And it's a privilege to be here in your beautiful, beautiful studio. Thank you, man. I'm excited to have you. I want to know what are three things that people do daily that shorten their lifespan. First and foremost, I think inactivity and dependence on technology for physical activities is damaging. Dependence on technology, what do you mean? Even depending on motorized vehicles to drive to get three blocks to the store to pick up a gallon of milk. People need to be more physically active. They need to build and maintain their muscle mass. That's one of the most actionable things we can do to maintain our health. And there's fundamental biological reasons for that. We can talk about, but that to me is one of the principle principle factors that if you just pay attention can impact your lifespan. All right, so lack of activity. Right. Diet, what else? The go to is diet, right? A 100%. So go to his diet. If you say it's not diet, those are going to be fighting words. I couldn't agree with you. I'm going to come at you at the end of this. I was saving it for number three, but let's leave it at number two. So there's no doubt what we put in our bodies impacts our health, our lifespan. Our mental state, you name it. The problem is we live in a world where there are so many choices. And the vast majority of choices are not great choices. People will often take the path of least resistance, and they'll get the fastest, most available food for their day. And in many cases, what they're doing is they're poisoning themselves. How do you feel about people that say a calorie is a calorie? It doesn't matter. I don't believe that at all. There's a very big difference between a calorie of protein versus a calorie of fat versus a calorie of carbohydrates. We know that. And we know that what you want to do is you want to provide yourself not just with energy, but you want to provide yourself with building blocks. The building blocks are essential to the repair and regenerative process, which is what I'm very focused on. You can't build new cells and new tissues and new organs unless you have the components that are necessary. And those components, for the most part, are found in proteins, fats are very, very good because the byproduct effect digestion gives you some of those building blocks. But we also have to take into consideration that many of the things we eat have have pro inflammatory elements to them. And at the end of the day, controlling inflammation and controlling the exposure, your body has to the toxic nature of things like raw sugars, clearly has a big impact. The reason you and I first became friends was how thrilled I was, what you were doing a quest building these really fantastic products that were delicious, satisfied those cravings, but provided you with the building blocks of just talking about it. So clearly nutrition is something that people, unless they pay attention to it, may in fact be doing themselves harm rather than rather than benefit. Do you have a rule of thumb on diet? You have 30 seconds to explain to somebody what to either do or not do. If they care about longevity, specifically. Well, you know, somebody who's always been plagued by a tendency to become overweight because of less than ideal activity and the wrong diet, I've decided that I'm going to focus on one thing that I know I can measure. And I'm going to use that as my metric to follow. And so for me, it's blood sugar. And we all know, and I think it's increasingly recognized that blood sugar is linked to metabolic inefficiency that exposes our entire system. Why inefficiency? So what's happening? So I eat a carbohydrate for those that don't know. I eat a carbohydrate, doesn't matter if it's a carrot or it's a bread, whatever some portion of that is going to break down into glucose, that's what we're talking about when we say blood sugar because a lot of people think as long as it doesn't say sugar on the pack, that it's not going to be a problem. Now, carrots was probably a terrible example because so much of that's blunted by fiber. But you're eating carbohydrates, they're going to end up in your bloodstream as glucose. But why does that cause metabolic inefficiency? The easier it is for what you ingest to become that free circulating glucose, the easier that is, the less efficient it is for you for your system. What I mean by that is if your body has to go through a digestive process to turn the carbohydrate in a carrot into an absorbable form of glucose, that's better than if you get raw glucose just as a sugary coating on a product. Because if I have to work to get that glucose out of the product into my system, that's better. Is it better because it's slower or is it better because there's just less of it? Well, it's better because it's slower and because you're actually utilizing energy to do that digestive process. You're actually balancing the asymmetry between availability of glucose. The raw availability and the usability of glucose. What I mean by that is I would rather you have to work a little bit to get the glucose out of a product than to just have an infusion of raw glucose into your bloodstream. And why does glucose cause so much inflammation? You know, I think in part because as the food industry evolved, it was about quantity, not quality. And the sugar plantations recognized it's real easy to grow sugarcane and grow other raw sources of glucose molasses, et cetera, et cetera and to put these into products in as simple a form as possible so that the process of making the product was easier and less expensive. That means that your exposure to these sugars is much, much higher than under normal biological circumstances. If we were back 2000 years and we were foraging for food or growing our own food, the effort used to produce that helps burn some of this raw raw glucose that were absorbing. The inefficiency in my mind is all about, you don't, you don't want to fill your system with glucose, you didn't pay for. And you didn't pay for energetically. And that may not be the best description, but I just think about it. If you have to run before you get to the restaurant and order your meal, that's probably better for you. Going in so we've got two things, not enough activity, a poor diet, a pro inflammatory diet. Those are going to be problematic pro inflammatory in the quick example would be high blood sugar diets or anything that's spiking your blood sugar consistently. What's one more thing? So the third thing to me really relates to something else we put into our bodies, which is the medicines, the supplements, and the other things that we think are benefiting us, but might in fact not really be all that useful. Everybody I know takes some form of supplement either in a pill form of capsule form and a powder form. We have to consider how that product got to be in the format we're in. You avoid supplements altogether? No, no, I don't, but I avoid, for example, as much as possible, the gelatin encapsulated supplements. People don't recognize that gelatin has to go through a process of being broken down, digested in order to release the contents. I remember a situation where a gentleman who was very health conscious was ingesting a tremendous number of supplements a day actually developed an obstruction in his intestinal system from gelatin.

Bob Hariri Peter Diamandis Tom Bilyeu Bob Harrari Tony Robbins Hariri New York Times TOM
A highlight from S7 E13: Krish Ramineni, Fireflies.ai

Code Story

07:39 min | Last week

A highlight from S7 E13: Krish Ramineni, Fireflies.ai

"This episode is sponsored by host IO from the creators of IP info. Host IO is a powerful and fast domain name data API, with host IO, you can get comprehensive domain name data, uncover new domains and the relationships between them. Get your free account today by visiting host IO slash code story. This message is sponsored by IP info. IP data is only as valuable as it is accurate. And one vendor can be relied upon for just that. IP info is a leading IP address data API. The tool in powers use cases from attached surface management to optimize advertisements. IP info serves the most accurate IP data available in the market. Want to customize your website based on the user's location, or perhaps you want to protect your website from mast identities with VPN detection. IPM plus serves IP data the way that you need it. API, data downloads, web interface, bulk upload, useful tools in many different SDKs built by developers for developers. So you know they speak your language. Activate your free trial at IP info IO and don't forget to use the promo code, code story at checkout. Scalability is something that as you fix one thing, another thing needs to be addressed. It's like, you look through this entire funnel and see where the bottlenecks are. And usually bottlenecks occur at different parts. Any changes you make might give you one to two months of breathing room. Maybe three months of breathing room. But you have to constantly change. To be honest, if people knew how overwhelming it is to build and scale a SaaS product, I don't think anyone would start because if they had all that knowledge early on, they would not want to take that risk and plunge in. I'm Chris ramani, cofounder and CEO at firefly's dot AI. This is code story. The podcast bringing you interviews with tech visionaries. Who share in the critical moments of what it takes to change an industry and build and lead a team that has your back. I'm your host, Noah lab heart. And today how Krish ramani dreamed up a tool to assist you with your meetings by recording and transcribing your conversations. All this and more. On code story. Krish ramani grew up in Silicon Valley, observing tech all around him. But what really excited him was the innovation happening in the last 5 years. Use to play sports as a kid, tennis spaceball, et cetera, and he was always excited about filming his games or practice and analyzing how he executed the craft. He brings his analytical frame of mind into his current venture. And still plays some sports lift weights and tracks his nutrition on the side. Krish went through meetings like we all do, conducting a meeting with expensive team members and then forgetting most of the conversation afterwards. He decided he wanted to figure out a way to remember every conversation he had, and unlock the hidden metrics behind meetings. This is the creation story of firefly AI. Fireflies in a nutshell is an AI meeting assistant. It joins your meetings across major video conferencing platforms like Zoom, WebEx, Microsoft Teams, Google Meet, and it records transcribes and generates notes from those meetings. And it will also analyze your meetings and tell you what the sentiment was on the call who spoke for how long on the call what sort of topics were being discussed. And our whole goal was to unlock all of this hidden information and uncover knowledge inside conversations. When you have other sorts of means of communication, let's say, emails or messages, you can always go back. You can see an email you sent two years ago. But a meeting, if it's very expensive, getting multiple people in a meeting room. It's very expensive. And then when you leave that meeting, 20 minutes later, 30 minutes later, you forgot everything you discussed. So the origin story was, how can I remember every conversation I've ever had and have perfect recall? And how can I go back to something I discussed two years ago? You know, I had a meeting with Noah two years ago. I want to know what our thoughts were on playing tennis. And I can jump that exact moment in time and remember everything. So that was really the inspiration for starting fireflies. Let's dive into the MVP, so tell me about that first product you built. How long did it take you to build? And what sort of tools did you use to bring it to life? So we had a multiple iterations before we even started the current version of fireflies as it is. We did like 7 or 8 different side projects in the past. But what was interesting before we started on this path of building this AI meeting assistant was, hey, we've been writing a lot of code on all these other projects, which are spending three, four months. They're not really taking off. So we need to validate if what we're going to be working on is actually something that we should spend time. So me and my cofounder, Sam, decided before we wrote even a single line of code, we would build a human in the loop system. People would hire an on demand note taker, person, like a real person. And that person would join the meeting and they would be a fly on the wall and write notes and afterwards send an email of the notes. And we would charge for that service. And we did this for a couple of months. Very, very early before we even wrote a few lines of code. We would even charge for it and then get people to pay quite a good amount of money. And then we realized, wow, this is actually something people are willing to pay for. Now the hard part is, how do we build it and fully automated so that there's no human in the loop? There is some companies that took like the virtual assistant route, but that is a really expensive process. And even back when we started 2018, 2019, transcription was very, very expensive. And natural language processing wasn't quite as good as what it is today. So there were technological hurdles, but we believed as product oriented founders. That's a much more sizable problem that we could tackle versus trying to create artificial demand for something that people aren't interested in. So yeah, I would still say that was our very first MVP, no lines of code, just building a business that was around people, email, and joining video calls. You kind of touched at a high level on some of these, but I want to know about the decisions and tradeoffs you had to make. The big ones around not writing a line of code or even maybe the version after that where you started to build it, you know, how did you cope with those decisions when you were making them? One of the biggest lessons I learned from starting fireflies was that if you chase really good ideas, that's not always going to lead to good businesses. And so people list out crazy ideas that they want to work on. It's maybe because they're excited about the technology or maybe they're excited about the latest hottest trend on the market a few years ago, everyone was trying to do an Uber for X you press a button and you get flowers delivered. You press a button and then a car comes. So there were a lot of companies that were oriented around that. So for the longest time, we were chasing good ideas and pool technology, whereas the best companies I really believe come from solving really

Krish Ramani Chris Ramani Krish Tennis Firefly Webex Silicon Valley Noah Microsoft Google SAM
A highlight from The Proven Processes & Systems You Need to Implement to Build a Time & Financial Freedom Creating Business with Clay Clark & Ryan Wimpey

Entrepreneur on FIRE

00:46 sec | Last week

A highlight from The Proven Processes & Systems You Need to Implement to Build a Time & Financial Freedom Creating Business with Clay Clark & Ryan Wimpey

"Light that sparked fire nation, here, and welcome to entrepreneurs on fire, brought to you by the HubSpot podcast network with great shows like business made simple. Today we'll be breaking down the proven processes and systems that you need to implement to build a time and financial freedom creating business to drop these valuables are about to clay Clark in Ryan wimpy into eo fire studios. Clay is former U.S. SBA Oklahoma entrepreneur of the year, founder of several multi-million dollar businesses in Amazon, bestselling author. And today, foundation, we will be talking about quality leads getting turnkey marketing systems that will get you those leads. We'll talk about the irresistible offer and scale and grow exponentially once you've nailed that and

Clark Ryan Clay Oklahoma U.S. Amazon