The $100 MBA Show

Entrepreneurship is a full-time gig. But is it so full-time that you can never truly be on vacation? Are independent business people doomed to stay forever connected to the company, no matter where they escape to? Yes and no. Today, we discuss whether it’s truly feasible to walk away from your baby for a week or more. Especially in the early years, it can be terrifying to take your hands off the s...

You know webinars work to convert subscribers to customers. You have the tools and knowledge to conduct webinars. You’re almost ready. You just don’t know what your first one will be about. It’s a super-common question, and one we’re answering for today’s Q&A Wednesday. Hooking your audience with a topic that’ll pique serious interest is key to creating customers. Today, we share our step-by-step...

What are you worth to your company? When creating a business plan, new entrepreneurs often forget to budget for one extremely important item: their own salary. Thing is, your personal financial health is just as important to your business as any other factor — especially if you’re pursuing entrepreneurship full-time. You can’t short yourself, but you can’t short your business either. Today, we sha...

There’s no substitute for experience. Fortunately, experience can be shared. Peter Drucker had a long, legendary career in business. One of the earliest professional business management experts, Drucker literally wrote the book(s) on how to frankly assess your company. Today, we take a look at his classic, The Five Most Important Questions You Will Ever Ask About Your Organization. We’ll explain e...

Arguments can be productive. Conflict can lead to growth. When people don’t see eye-to-eye, it’s a sign you’ve got a team that’s capable of great things. Disagreement is good! Today, we explore the positive side of disagreement, and explain how to get the most out of every altercation. When your team disagrees, it means you’ve got an incredibly valuable asset: diversity of thought. Differences of...

Is everything scaleable? Are the things that aren’t scaleable worth your time, even as your business grows? No, and yes. Today, we discuss the things you should always do the old-fashioned way: personally, without automation, and without delegation. Some things just aren’t meant for the factory line, and the time you invest in them will pay dividends that are way beyond worth it. Learn what these...

In online marketing, customer relationships are everything. That’s why an entire industry devoted to Customer Relationship Management (CRM) has evolved. But with so many options, which CRM service is right for your business? It’s Q&A Wednesday, and one listener is overwhelmed by the options. From the simple and inexpensive to the wildly complex and pricey, there’s a CRM for just about every busine...

As your business grows, so grows your team. As you hire, you’ll find yourself repeatedly faced with the question: what should I be paying? Today, we explain how to do the math for new hires. We discuss all the factors involved, from budget to experience to industry standards, so you can reach your own number. We also discuss other factors that can influence the final offer, those that go beyond si...

Leadership doesn’t start with your example. It starts with something deeper — something others can’t see, but that informs everything they can see. Leadership starts with your innermost beliefs. Today’s guest teacher, Don Scott, has decades of business experience. He also has a degree in psychology. Where the two disciplines meet is the key to truly effective leadership. To build (or rebuild) your...

Entrepreneurship isn’t easy. But is it ever easier? No one would doubt that the first few years of starting your own business are tough. No matter the industry, entrepreneurship is demanding, mentally and emotionally (and sometimes even physically). But is it always an uphill battle? Is there an event horizon you can pass through and just…coast a little? Yes and no. Today, we discuss the ways in w...

Is entrepreneurship a young person’s game? Or can the wisdom of age apply to independent business? We often hear from would-be entrepreneurs who worry that they’re too old to get in the game. Usually, they’re retirees who are ready to hang up a lifetime 9-to-5 in favor of a fresh start. Is it realistic? Does a middle-aged person have time to go through the ups and downs of entrepreneurship and com...

A business by any other name — is the profit just as sweet? It’s Q&A Wednesday! We’ve got a listener who’s ready to start a business, but is wondering how much time and effort to put into the business’s name. What kind of impact does it really have? Does it really matter what you call a business if the product, marketing, and execution are solid? Can a bad name hurt a great company? As it turns ou...

In case you haven’t realized it yet, business is a marathon. Like any long-term commitment, knowing how to slow down strategically is just as important as flipping on the afterburners. Too much of anything — like work and stress — does not pay off. The rule of diminishing returns catches up every time, wasting your effort and holding your business back. It’s time to find your balance. Today, we di...

Timing is everything. That’s the central argument of this week’s Must-Read for entrepreneurs, When by Daniel Pink. Pink is a Yale graduate who’s spent plenty of time on the bestseller lists. He’s also a data-obsessed life and work hacker who’s pored through hundreds of studies on the role of timing for this excellent, insightful book. From business to psychology and beyond, Pink explores how to ap...

Your business has grown to the point where you can’t manage everything. It’s a wonderful achievement, but it’s also pretty scary. You have to let go. You have to trust someone else with your baby. You have to pass responsibilities on. You have to hire a manager. It’s a big step. Management is different from any other role, and far more consequential. Your managers are the bridge between you and yo...

E-commerce is a different game. Not quite entirely physical, not totally online, e-commerce has its own rules, challenges, and considerations. As it happens, Omar built his own e-commerce company way back when, in his early years as a budding entrepreneur. During that time, he acquired the most valuable lessons of all: the lessons you learn from mistakes. Specifically, there are 5 terrible — but a...

Few things are more satisfying than rewarding your team with a retreat. It’s a chance to bond, an opportunity to gel professionally, and a statement of how far you business has come. Most of all, it demonstrates how much you value the team that’s helped you get this far. It’s Q&A Wednesday, and one listener wants to know how to choose the best location for a team retreat. As it happens, we’re plan...

No matter what you do, your business will have a story. The question is: who’s writing it? Getting a handle on your business’s online narrative is key to protecting your brand. Whether your business is brick-and-mortar or strictly digital, you have an online reputation to protect. More and more, consumers rely on other consumers’ reviews to make their buying decisions. Today, we show you how to st...

Entrepreneurs can have many lives. One business idea at a time, we remake ourselves as we take on new challenges. Starting over — and over — is the challenge, and the fun, of independent business. This week’s Must-Read for entrepreneurs is James Altucher’s Reinvent Yourself. This isn’t businessman, investor, podcaster, and best-seller Altucher’s first entry in our Must-Reads, and for good reason....

The first rule of content marketing: you’ve gotta keep the content coming. Whether it’s blogs, podcasts, videos, or pics, you need a basically endless supply of ideas to generate content from. Fortunately, you have one — in your life, your experiences, your own head, and (most importantly) your audience. It’s simply a matter of capturing each little inspiration for later use. Today, we share our s...

Tiers and trials: twin incentives to get users on board. But which one will work best for your business? Today, we explore how entrepreneurs selling digital products (like software services) can benefit from each. We explain the difference between the two, and how each is tailored to different business goals. By understanding both ways to give away a freebie, you can determine what will build your...

You’ve got a great podcast, but you want great guests. How in the world do you get them? It’s Q&A Wednesday, and we’ve got a question from a fellow podcaster who’s looking to bring fresh voices to his audience. Knowing how to find quality guests — and convincing them to record — takes some finesse, and some time. Today, we discuss our methods for wooing guests. By establishing your own reputation...

Experience is the best teacher, and we’ve had plenty. Today, we put aside the specifics of day-to-day business, and focus on the principles that carry us through the ups and downs of entrepreneurship. We’ve got 4 principles that years of struggle, doubt, anxiety, and ultimate success have ingrained in our brains. Learning how to cut through self-defeating impulses and focus on what matters can wor...

It’s time to get more specific with your business goals. That’s the theme of this week’s Must-Read book for entrepreneurs, John Doerr’s Measure What Matters. Doerr is a milestone master, helping organizations like Google and the Bill & Melinda Gates Foundation measure their progress with laser precision. Of course, his lessons are just as applicable to small businesses. In this book, Doerr explain...

So many podcasts, so little time. Which ones are worth it for you? Today, we’re putting the spotlight on the 5 most valuable, insightful, useful business podcasts out there (besides our own, of course). Believe it or not, we actually listen to our competition, and learn from other entrepreneurs out there on the digital airwaves. Some, frankly, are too good not to share with our audience. Add these...