The $100 MBA Show

Customer Support should never be a secondary concern — it’s a selling point, and key to fighting churn. But a listener wants to know: how much Support can you expect your team to offer? It’s Q&A Wednesday, and our listener has more Support requests than the current (single) Support agent can handle. Is it because there are more requests than any one person can deal with? Or is it because this one person isn’t measuring up?And how the heck can you tell, either way?Fortunately, we’ve got a lot of experience in this arena. We’ve always prioritized Support in our own software company. It was our theory from the start that quickly resolving hiccups would create more customer loyalty than anything else. Today, we discuss what can reasonably be expected of a Customer Support agent, how to measure their performance, and what to do if someone on the team isn’t making the grade. We share a formula for calculating the number of requests or tickets each agent should be able to tackle in a day, and offer remedial actions you can take before looking for a replacement. Learn how to make your Support Team one of your most valuable assets — Click Play!To submit your questions, visit 100mba.net/q.SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Urgency sells. But nothing turns people off like fake urgency (y’know, like those furniture stores that’ve been “going out of business” for the last 20 years). So how can you get folks to “buy now” without sounding full of it?The answer: deadline funnels.Deadline funnels are an automated way to create individualized timed special offers — emphasis on “timed.” The lead engages with your content, and the clock starts ticking. If they don’t buy…they really do miss out on the offer.At best, it helps you make a sale, and gets your new customer the best deal. At worst, it shows your audience that “last chance” really means “last chance.” Today, we discuss what deadline funnels are, how they work, and what tools help you set them up. We’ll share examples from our own business — which has benefited immensely from deadline funnels. Learn all you need to know about this incredible sales strategy. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Don’t settle for success. Build a business you’re over the moon about! Today, we sit down with someone who did exactly that: Majik Media’s Bradley T. Morris.Bradley built the life of his dreams — which mostly involves adventures, night golf, and co-creating products with Majik Kids with his 6-year-old son  — by staying true to what really made him tick (and ditching the rest). He even gave up social media, just because it’s not a good vibe. And that decision has in no way harmed his considerable success.In this episode, Bradley joins Omar for a good long talk about prioritizing what matters, and building your business around that. It may seem idealistic, but Bradley’s experience demonstrates that if you’re sincere in what you’re trying to create, the right people will pay for it. Take some life and business lessons from a serial entrepreneur who’s doing things his own way. Then ask yourself: what’s your own way? Have the courage to answer honestly, and nothing can stop you. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Is your business a lifetime commitment — or a way out? Today we explore the difference between “lifestyle” businesses and businesses designed for (eventual) sale. Which one are you building? Thing is, you need to answer that question, like yesterday. Because the way you build and run your business will differ wildly depending on what your endgame is. “Lifestyle” businesses are all yours. You’re going to do it for as long as possible, maybe for the rest of your working life. Because of that, you don’t have to do anything with an eventual sale (or the eventual buyers) in mind. But if you’re dreaming of a nice exit, you need to make sure your business is something you can market. That means everything from ensuring there’s more room to grow, to making sure the branding, processes, and systems don’t depend too much on…well, you.Are you building a business to have money, or a job you love? All things come to an end, and it’s never too soon to start thinking about how your time with your business wraps up. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Recession anyone? Sooner or later, a rainy day comes. But with a little planning ahead, you can thrive in the rain. Today, we explain how the current economic moment is the perfect example of why you need a war chest. When the economy slows and interest rates rise, it becomes much more expensive to borrow the cash you need to invest in your business…unless you borrow it from yourself, that is. And while you’re not likely to have pockets as deep as the bank’s, you might be surprised at what you can save.It’s all about making saving a consistent habit.Today, we explain how utterly necessary a substantial savings account is for an independent business. We’ll also share tips on how to make saving easier, by building it into your whole business model. This way, you can ride out a recession with less financial damage to your bottom line.Learn why it’s time to start saving — and how to do so effectively. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Are you using social media, or is it using you? Today, we share tried-and-true strategies for using these addictive platforms strategically — not mindlessly.Facebook, Insta, and the rest can be incredibly valuable tools. But they don’t exist to serve your business. They exist to serve their own. If you’re not careful, you can end up investing your time and energy into something that benefits Zuckerberg and Musk more than it benefits you.It’s Q&A Wednesday, and one of our listeners has seen the light. They know that social media is sucking them in on a daily basis. But quitting it altogether wouldn’t be good business. So what’s an easily-distracted entrepreneur to do?You don’t have to give up social media to avoid its pitfalls. In this episode, you’ll learn a few simple tricks that allow you to do your marketing, reach your audience, and get back to the real world. We also share tools that make it easier. Think of social media like fire: undeniably beneficial, but dangerous if it gets out of control. Learn how to manage it effectively — Click Play!To submit your questions, visit 100mba.net/q.SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Nothing stays the same forever — not if it’s going to grow.That’s true for your team, too. If your team isn’t getting better, it’s stagnating. Which means your business is stagnating. Which means your business is dying.So how do you stop this from happening? How do you keep your team out of a rut?At some point, you’ll probably have to replace some people. You can’t let fear of change (or potential confrontation) stop you from helping your business thrive. But here’s the good news: sometimes you can “replace” someone with themselves — if they’re willing to evolve. Today, we share a little exercise that will help you see who’s truly making the grade for your business. Once you’re clear on who makes the cut and who doesn’t, it’s time to take the necessary steps to bring everyone up to scratch. You can’t always predict who will grow with your company, but one thing is for sure: stasis is never good for business. Learn how to see what needs changing. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

You have a great idea for a product.But you don’t have the time, resources, or know-how to bring it to life.No problem.Today’s guest teacher, Stephen Key, knows all there is to know about “open innovation” — allowing other companies to license your idea and bring it to market. They take the risk. They do the work. You reap the benefits. It’s a win-win!Of course, you have to do some legwork first.In this episode, Stephen will walk you through the process of securing the rights to your idea, and shopping it around to the right kinds of companies. We always preach that execution is just as important as ideas. But with open innovation, you can outsource the execution in just a few steps.If you’re busy with another business, or simply don’t have the option of bringing your idea to market, this might be the best alternative. There’s one way to find out: learn how the process works, and see if your big idea is a good fit. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Competition is a good thing — if you know how to use it.We often think it’d be great to be the only one selling what we’re selling. But if that were true, it wouldn’t be an awesome sign re: consumer demand. So instead of being afraid of the competition, let’s turn it to our advantage!In this episode, we’ll share a few ways.With examples from famous brands and our own businesses, we’ll explore how companies that are willing to stand side-by-side with the alternatives win. The key is to understand that a competitor is something invaluable for marketing: a basis of comparison.Your job is simply to make that comparison an informative (and favorable) one.Learn how different brands have done wonders for their sales by shining a light on what customers could buy instead. When you believe in your product — and more appropriately, your product’s market fit — the truth will set you free. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed

Sometimes the simplest tricks have the most dramatic results.Case in point: The Rule of 3.Human brain psychology 101 teaches us that people are selective about what goes into their memories. If it’s not easily understandable, digestible, and recallable, our brains won’t make space for it. But with the right structure and rhythm, almost anything can find a place on the “top shelf” of our minds.That includes marketing and sales material.Today, we explore how dividing things — everything, really — into threes is an almost magic hack for getting better results from marketing and sales assets. We’ll explain how it works, why it works, and how we use it. For an example, look how many times we did it in this podcast summary. Go ahead, we’ll wait…Learn how to apply the magic number to any business asset, from copy and content to ads and offers. It’s the best way to get (clear) information into your audience’s heads, and keep it there long enough to inspire action. Click Play!SUBSCRIBEYouTube | Apple Podcast | Spotify | Podcast Feed