The $100 MBA Show

That’s right: we said “only.” In our considerable experience, we’ve only found 3 ways to make our business stand out. In fact, we’ve only seen other businesses stand out in one of these 3 ways. Whatever you sell, you have to differentiate in order to compete. In fact, “differ” and “compete” may as well be the same word when it comes to business. But there are right and wrong ways to go about it. T...

We live in a golden age of political bipartisanship, religious tolerance, and cooperation among people of diverse viewpoints. Just kidding, we live in a never-ending mosh pit of political and social rock-hurling. So what does that mean for your business? It’s Q&A Wednesday, and we’re helping one Mommy Blogger decide whether to share her convictions, or zip it before she scares half her customers a...

There’s a ridiculously valuable, totally free resource you’re not using. It has all the information you need to target an audience, build them the perfect product, and stand out in your space. That’s right, Amazon (you read the title, didn’t you?). The “everything store” isn’t just a behemoth of online retail. It’s a treasure trove of reviews, complaints, wishes, and everything else you need to fi...

Have you started speaking yet? You don’t have to be Tony Robbins to use the power of public speaking to grow your business.  Even if you don’t plan to make a living off your speeches, you can build incredible authority and elevate your brand by delivering just a few talks per year. And if that seems wildly impossible for you, listen to today’s special guest teacher, Grant Baldwin. Grant is a speak...

Who do you wish you could get to know? They say the fastest way to an entrepreneur’s heart… Ok, no one says that. But one meal can have a massive impact on your future, if you plan it right. Hosting a dinner is the ultimate networking power move, one that’s worked for us and others time and time again. And yes, you can do it, too. You just need a plan. Today, we’re sharing a few tricks from some o...

Who says you have to build a product to build a business? “White Label” products let you market and sell someone else’s creation, under your own brand. It’s a tempting alternative for entrepreneurs whose strengths lie more in marketing and sales than in product development. And it’s a more popular option than ever before. But is it worth it? Today, we’ll review the advantages and disadvantages of...

Online bullying: it isn’t just for middle schoolers. Every business will eventually have a customer who turns rabid, threatening to blast your company all over the Internet if you don’t cave to their (often unreasonable) demands.  Here’s what to do next. It’s Q&A Wednesday, and one of our listeners has a disgruntled customer who wants a refund well past the deadline — or else. Some people think bu...

Conferences were always going to go digital.  Enter the online summit, a virtual gathering of industry pros that might offer the same (or similar) benefits to the analog version. These summits are more popular each year, with entire businesses built around hosting and promoting them.  What does that mean for you? We’ve sponsored online summits, and been asked to sponsor others. Deciding whether it...

Conventional wisdom: how wise is it? That’s the question Eric Barker asks in Barking Up The Wrong Tree , a super-entertaining challenge to everything you thought you knew about business.  In this highly original, inventive look at the usual advice about success, Barker takes aim at the most well-established assumptions. Commonly held beliefs about everything from education to confidence to product...

Hiring the best employees is no easy task. That task is further complicated when the perfect fit happens to be the relative, friend, or significant other of someone on your team. Trust me, we’ve been there. When you get a referral from a trusted employee, is that a good thing? Today, we’ll discuss the advantages and disadvantages of having deep personal connections between staff. Having briefly em...

Customer feedback is like fertilizer for your business growth.  Way too many entrepreneurs try to “figure out” what would appeal to customers, when a smarter solution is there all along: just ask some. Today, we’ll discuss the incredible, underappreciated value of customer feedback, and how to mine your customers for this valuable resource.  With it, you can do everything from improving your sales...

Almost every business goes through this: you set a refund policy, and a customer violates it — but they still want their money back. The terms were clear, but the customer isn’t. Or they are, but they want an exception. This is especially common when your refund policy stops after a certain amount of time. People unintentionally let free trials lapse into paid memberships, or procrastinate on retu...

It’s something every marketer studies endlessly. If you’re in business, you’ve heard of it by now: the “funnel.” There’s a good reason this concept is so common. Understanding the funnel and applying it to your business is crucial to your company’s growth. You could even argue that without studying the art of the funnel, your business can’t grow at all!  Whether they realize it or not, all busines...

There is no better salesperson than someone who doesn’t work for you. Think about how you decide to purchase something. While marketers, advertisers, and actual sales people have a goal in mind, other consumers have nothing to gain by encouraging you to buy a given product. It’s that simple. A happy customer is worth a dozen salespeople — because trust. That said, most of your customers aren’t lik...

What does a podcast cost? It’s a good question, and one you should definitely ask before you get on the mic. The good news is that it’s more affordable than ever to produce a decent quality, competitive podcast in your space. But a good entrepreneur always crunches the numbers. We’ve gotten a ton of exposure and opportunities thanks to our humble little show. And take it from us, it started out ve...

What are you waiting for?  No, seriously. What should you wait for before starting a business? One of the first, biggest hurdles new entrepreneurs face is taking the first step into the game. You’ve researched, you’ve planned, you’ve studied. But when is the right time to actually move? When does the light turn green, and how can you know? There’s a shockingly simple answer. Knowing what condition...

Every business needs a website, and therefore a good domain name. But do you need all the domains with that name? Good question. It’s Q&A Wednesday, and one listener wants to know if you should buy up the .com alternatives: the .co, the .net, even the international domains like .uk and .au. How many domains is too many?  How many is not enough?  Domains aren’t exactly expensive, but a few ventures...

Business travel got you stressed out, tired, and feeling low? It’s not just you. Traveling for work can absolutely suck. The airports, the baggage, the time zones, the bad food, and a million other inconveniences can turn any trip into a draining experience. As entrepreneurs, business travel is supposed to be part of the fun. So why isn’t it? We’ve put a lot of miles on our own business ventures,...

We’re not good at understanding each other. And that’s bad for business. Malcolm Gladwell has made a massive career out of noticing — patterns, syndromes, common social threads. He’s sold millions of copies of books like The Tipping Point and Outliers. His latest, Talking to Strangers , tackles another big, broad topic: human interaction. How we relate to people we don’t know has a massive impact,...

Customer service: the forgotten weapon. The power move. The brand-defining differentiator that sets you apart from the competition. The secret to long-term customer retention and increased CLTV (Customer Lifetime Value).  It’s kind of a big deal, so you have to get it right. Great customer service doesn’t just solve customer’s problems. It creates loyalty and reduces one of the worst diseases a bu...

Second-guessing: some would say it’s a sign of healthy skepticism. But if it becomes a habit, it’s fatal to entrepreneurs. When you run your own business, you are constantly faced with high-pressure decisions — way more often than people with conventional jobs. With every call you make, that little voice can be heard talking: was I right about that? Should I have [fill in the blank] instead? Don’t...

Content business vs. software business: which is right for you? Today’s episode is a good place to start answering that question. It’s Q&A Wednesday, and we’re helping one listener understand the biggest, most fundamental difference between the two business models. That difference is critical. Content businesses (like The $100 MBA) require different skill sets, resources, and personnel to pull off...

To get more wins, study the ones you have. The “buyer’s journey” is a much-studied topic that CRM (Customer Relationship Management) experts have spilled thousands of gallons of digital ink on. What is the process by which people go from awareness of your brand to a final purchase? What gets them to that final decision? What triggers them to pull the trigger? The short answer is that it’s differen...

Thank you. Was that so hard? Actually, effective gratitude is more than just stringing two words together. It’s something today’s special guest teacher, Dr. Cindy McGovern calls a “lost art” — the ability to thank employees in a way that values, motivates, and inspires them.  Thanking isn’t just a social reflex. For real leaders, it’s a strategy. Genuine appreciation is a massive motivator, right...

What do your employees really think? It can be hard to find out. People are naturally more reserved in meetings, and can feel “evaluated” or cornered if asked too much in front of others. That’s why we decided to do individual, one-on-one sit-downs with each of our employees to get their feedback. In other words, we had the employees evaluate the employers. By having a private, intimate, low-stake...