The $100 MBA Show

Social media is changing. So is social media marketing. If you’ve seen the news, you know that Facebook, Twitter, and the rest are doing a walk of shame after failing to protect user privacy. And as the public generally gets tired of overexposure, the social media world is shifting to something more segmented, more clustered, and yes, more private. Start adjusting your marketing strategy now. Toda...

Social proof is a marketing must. So how do you get it? It’s Q&A Wednesday, and one listener needs reviews and testimonials for their website. Whether it’s for your homepage, or just to get your credibility going on review-heavy sites like Yelp or Amazon, you need evangelists. Otherwise, it’s just your word against the competition’s. Today, we discuss how to get more reviews — the kind that actual...

Sometimes, a small business should stay that way. Not everything has to scale. Entrepreneurship isn’t about creating the biggest company possible; it’s about creating the life you want for yourself. And if that life doesn’t involve making billions, or running a national business empire…you’re not alone. Today, we discuss why one size (size L) doesn’t fit all. Independent business people around the...

We’re all great leaders when things are going well. But how does a great leader handle a crisis? If you’re looking for an overall leadership model, you shouldn’t look any further than Abraham Lincoln. As President, he led his nation through the worst-case scenario: a necessary but devastating civil war. Along the way, he had to navigate divisions in his own team that were almost as deep as those b...

You don’t need to reach the most customers. You need to reach the right customers. Big-tent marketing, reaching out to the widest audience possible, is a thing of the past. Modern marketing is all about targeted campaigns aimed at people who would love your product specifically. If you try to speak to everyone, you’ll speak to no one. Rather than speaking louder, you’re going to speak the right la...

There’s a powerful number you have to discover: your product’s value metric. The value metric is the exact measure, in dollars and cents, of what your product is worth to customers. It’s not what the product is worth in raw materials, or what it costs in overhead, or even its monetary ROI. It’s simply how much money a customer would gladly exchange to enjoy whatever your product does for them. Yes...

We talk a lot about the importance of personal branding. But do you have to be the face of your business? Yes and no. It’s Q&A Wednesday, and one listener has a great product idea but no desire to stand in front of the crowd. Think of all the brands that succeed in large part because of a charismatic founder. Is it possible to just let the product shine and take a behind-the-scenes role? Does ever...

Interviews can be tough…for the interviewer. There’s nothing more awkward than struggling to find out if the person you’re interviewing is right for the job. Even worse, passing on the perfect fit because you didn’t get the information you needed is just plain tragic. So how can you make sure to draw out the very best of what the candidate has to offer? It’s time to make an interview plan. Even as...

You can’t just sell the product. You have to sell your story . Heather Saffer is the queen of DIY public relations. Without any help from high-priced professionals, she managed to tell a tale that built a narrative foundation for her brand. As an entrepreneur, author, and reality TV personality, she’s mastered the art of being noticed — on her own terms. With her homemade PR strategies, Saffer lau...

It’s time to put aside politics, and focus on business. Diversity matters. Monoculture is a weakness. Diversity is just as important for your business goals as it is for anyone’s social goals. Today, we’ll explain why a team that looks, acts, and thinks the same has trouble innovating. We’ll also bust one of the ugliest, most backward myths in business: that prioritizing diversity means not hiring...

You’ll get around to it…right? Of course not. Procrastination is a classic business-killer, one that’s derailed many an entrepreneurial dream before it even got anywhere. The road to independent success is littered with fallen entrepreneurs who just never got around to this, that, or the other thing. If that’s a problem for you, it’s time to address it. Now. Avoidance, conscious or otherwise, is a...

Our humble little business has been mentioned (positively) by some of the biggest dogs in business media. Forbes, HuffPo, and the like have kind words for us, and we’re proud. So how the heck did that happen? It’s Q&A Wednesday, and one listener wants to know how to replicate that positive attention. The obvious boost in exposure and credibility is no small thing, so what was our secret to getting...

It’s time to get ready to sell your business. We’re serious. Even if you are nowhere near moving on from your current enterprise, it’s important to keep your business in selling shape. Keeping your business super organized is just good practice. Being sell-ready isn’t something you should do right before it’s time to sell — it’s a mindset you should maintain always. By acting as if you’re ready to...

It’s time to clean up your digital life. Digital distractions are deceptive. Because they don’t take up physical space, it can seem like they’re not overwhelming you the way, say, laundry or tchotchke can. But if random websites, social media platforms, and online services are wasting your time, they need to go. Seriously — digital distractions are stealing time from your business. This week’s Mus...

You’ve seen it in your search returns. Quora is a massive online forum, where potential customers ask about anything and everything under the sun. It’s also a traffic crossroads that’s just waiting for you to tap in. You can use Quora to drive your marketing for even less than you’d spend on conventional marketing efforts. Your niche is waiting on this free website, discussing exactly the things y...

It’s gonna happen. Whether it’s your fault or not, some customers will use your product and come away disappointed. What matters is what you do next. Customer satisfaction is your responsibility, even when dissatisfaction isn’t your fault. Planning in advance for how to address it can be the difference between a business that lasts and one that doesn’t. You’ve got to articulate your messaging ahea...

You’ve used free webinars to build your audience and establish yourself as a trusted source of information. Now, you’re ready to take it to the next level and start charging. It’s Q&A Wednesday, and one listener wants to know what a paid webinar should cost. Charging for webinars is a huge step forward, creating opportunities for more than just money. Real idea validation and the monetizing of you...

Are you charging enough? Entrepreneurs can get a little nervous about raising prices. But there’s a way to find out how high you can go that’s low-risk, high-yield, and potentially eye-opening. If your business needs an influx of revenue, consider doing a little experiment in price increase. We’ll show you how. You might worry that an increase will scare customers off. But in our experience, you’r...

A business owner owns a business. A business leader owns its performance. We can apply lessons from all avenues of life to business. The military is no exception. Jocko Willink is a decorated Navy SEAL from one of the elite group’s most honored units. After his service, he took what he learned in the field to the business world. Willink’s latest book, Extreme Ownership , is all about building a hi...

The company you keep affects the company you want to build. Your friends make a difference. Before you balk at the title, this episode isn’t about growing a cold heart and forgetting about the people closest to you. It’s about making sure that the circles you spend your time in propel you forward, rather than hold you back. Today, we’ll explain just how powerful the influence of your social circle...

Whether it’s marketing, sales, onboarding, or support, communication is key. Enter the chatbot, considered by many to be a communications shortcut for your website. They’re ubiquitous now: those little bottom-right corner bubbles that offer to answer questions and otherwise help a visitor along their journey. Thing is, they’re not human. They’re AI, with varying levels of sophistication — and vary...

“I wish I had done that differently.” It’s a phrase any entrepreneur with any real experience has thought, or said, more than once. Independent business is all about screwing up, learning from it, and applying the lesson. Here at the $100 MBA, we are no exception. It’s Q&A Wednesday, and one listener wants to know what our biggest regrets are from over 18 years in business. Most of those regrets —...

Conferences are always opportunities. Mostly to network, but often, to learn. MicroConf, the annual conference for small (mostly software) businesses, lived up to the potential. Our intrepid host Omar made the trip to Sin City for MicroConf 2019, and he picked up some seriously valuable lessons. He was invited as a speaker, but couldn’t pass up the opportunity to attend the other presentations as...

The career you want is closer than you think. It’s only as far away as the right people. Today’s special guest teacher, Ken Coleman, believes that proximity is the key to moving forward. Whether you’re transitioning from side hustle to full-time entrepreneurship, or just getting into business for yourself, proximity is everything. Find the right people, and you’ll effect real change. So many peopl...

Every business owner would love to get more money for each unit they sell. Raising your prices is understood to be a natural part of growth as the years go by. But what about lowering them? Is it ever appropriate? Is it ever smart? It’s easy to assume that lowering prices sends a bad signal, or represents a step backwards. But we’ve seen companies that strategically lowered their prices in ways th...