

What Works
Tara McMullin
Work is central to the human experience. It helps us shape our identities, care for those we love, and contribute to our communities. Work can be a source of power and a catalyst for change. Unfortunately, that's not how most of us experience work—even those who work for themselves. Our labor and creative spirit are used to enrich others and maintain the status quo. It's time for an intervention. What Works is a show about rethinking work, business, and leadership for the 21st-century economy. Host Tara McMullin covers money, management, culture, media, philosophy, and more to figure out what's working (and what's not) today. Tara offers a distinctly interdisciplinary approach to deep-dive analysis of how we work and how work shapes us.
Episodes
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Jan 8, 2019 • 34min
EP 174: Creating Real Value On Social Media With Creative Genius Law Founder, Patrice Perkins
After over 10 years in this business, I’ve seen a lot when it comes to social media.
I’ve been around for Blogspotting and LiveJournaling. I’ve seen the rise and fall of the Twitter empire. I remember when organic reach on Facebook was a given and I watched as Instagram morphed from iPhone snaps to carefully posed and perfected images.
Much has changed about the way small businesses approach social media, too. Some marketers are still trying to be everywhere at once while plenty of others are focused on one, favorite platform. Some are sharing highly curated content and others are sharing whatever floats their boats.
Perhaps the answer to the question “What works in social media marketing?” has never been more ambiguous.
This episode is the finale of our 5-part series on trends shaping small business in 2019. If you haven’t caught the first 4, check out our feed on your favorite podcast player or at whatworkspodcast.com.
My prediction for 2019 is that this is the year when many small business owners find their strides with social media.
Okay…
2019 newsflash—there is NO right way to do social media to support your business.
The only way to do it is the way that works for you.
That might mean giving it up entirely and focusing on coffee dates, networking events, and online communities—see our trend episode on “real relationships” with Jordan Harbinger for more on that.
But it might also mean embracing a less tidy feed, a more consistent schedule, a more uniform aesthetic, long form captions, short form videos, being silly, being an activist, or just being yourself.
The power of social media today is in how you make it your own—not in how you try to conform to the norms of your industry or digital space.
I’ve talked to a number of small business owners over the years who have found their own unique ways of utilizing social media. I talked to Lauren & Jason Pak who built a huge global following for their Boston-based gym by sharing educational fitness content informed by their values for inclusivity and positivity. I talked to Elizabeth Dialto who has openly pursued authenticity and transparently shared when she’s making changes in the way she engages with the channels she uses.
But the small business owner who’s approach to social media stood out to me the most over the last 3 years has been Patrice Perkins.
Patrice is the founding partner of Creative Genius Law. Now, I’ve known Patrice for many years but her social media posts started to peak my interest when I noticed her sharing hyper-informative content based on legal news in pop culture. When a company was getting sued for ripping off a designer or when a video game got served because it might have stolen a performer’s signature move, Patrice would write about it—at length—on Facebook and Instagram.
I personally loved learning from these posts… but I was curious about how this kind of sharing was delivering business results. So I asked her!
But first, I’d also love to know: what’s working for you when it comes to social media. Are you swearing off of it in 2019?
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Jan 3, 2019 • 40min
EP 173: Investing In Physical Products With Inkwell Press Founder Tonya Dalton
A few weeks ago, Derek Halpern—who has made millions of dollars selling online courses—announced that he was quitting information marketing.
He said he was burnt out. He’d lost track of why he was in the business in the first place. His information marketing business didn’t light him up.
He announced a sort of digital fire sale of all his courses, one final time, and then took them off the market.
Over the last 3 episodes, I’ve been running down what I see as the top trends shaping small business in 2019 based on the interviews I’ve done over the last few years. Because of my behind-the-scenes view here at What Works (and yours, too!), I often get to see trends happening before they tip into the mainstream.
Today’s trend is no exception.
I can relate to Derek and the circumstances that prompted his decision.
Two years ago, I was burnt out on advice culture and information marketing, too.
I felt pressured to be constantly turning my personal experience into something useful for thousands of people.
And? It just wasn’t. I didn’t have all the right answers for everyone who was following along. I didn’t have brilliant life lessons to share every day. I wasn’t an expert on all the things people wanted me to be.
I believe that information marketing, advice culture, and the expert brand ecosystem is going through a reckoning. Not only are people like Derek and I burnt out on it. Consumers are overwhelmed by it.
Consumers are becoming more interested in trusting themselves instead of some stranger they found on the internet.
Now, maybe all this sounds like a pretty bleak prediction for the future of information marketing.
After all, already two of the trends I’ve highlighted for 2019—focusing on real relationships and reapproaching high-touch services–are in direct opposition to the way information marketing has been executed for years.
But I don’t think that’s the case.
Information marketing is not dying.
Instead, there is a growing list of options for business owners who want to run lean and mean, make a great profit, and prioritize flexibility. But they look a lot like how small business was done before information marketing!
The option I took was to create value by making it easier for small business owners to talk with each other, by facilitating those conversations, and by creating tools for shared experiences.
The option Derek took was to harness his marketing prowess into a wellness company with a mission that lights him up.
But a big trend I have been seeing bubble up is creating physical products—tools—for self-exploration and learning.
I believe 2019 is the year we’ll see this hit the big time.
Now, those tools for learning and self-exploration aren’t always literal tools. Sometimes they’re the perfect pieces for a capsule wardrobe—like Jay Adams and Katie Doyle created with Brass Clothing. Other times they’re the perfect greeting card or gift when nothing conventional would fit—like Emily McDowell created with Emily McDowell Studio. Or, they could be sports bras designed specifically for women who enjoy an active, outdoor lifestyle—like Bridget Kilgallon and her co-founders did with Aret Basewear.
You can find all of those interviews in our archives—but my choice for today’s interview is a litt...
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Dec 27, 2018 • 39min
EP 172: Reapproaching High-Touch Services With Perfect Planning Events Founder, Tara Melvin
Imagine making money in your sleep.
When I first started selling ebooks and courses that’s all anyone could talk about, and I’ll admit that the first time I woke up to money having been deposited in my PayPal account over night, I was pretty damn excited.
But what I realized soon after was that there was nothing passive about passive income.
Whether you’re making money through ads, online courses, ebooks or apps, you had to work. Sure, the revenue might come in over night, but that doesn’t mean you didn’t spend the whole day before at your desk.
Now while many still promise an infinitely scalable business built on online education, most people have wised up. It’s not that information marketing doesn’t work in terms of creating a scalable and profitable business, it’s just that there are other ways to make scalable and profitable work for you.
Many of the most successful small business owners today run high-touch service-based businesses.
Instead of scaling their businesses digitally, they’re building smart teams, honing their procedures, and filling out a niche.
They find profit in optimization and being able to deliver impeccable outcomes. They’re signing big clients to long term deals and enjoying steady income. They’re minimizing the costs of software and marketing in favor of investing time in relationships.
Now all of that might sound pretty good even if it’s a bit intimidating, but it gets better.
All of the business owners that I’ve talked to who have decided to go all in on high-touch services and forgo the often empty promises of information marketing feel a huge sense of relief. Plus, they’re enjoying balancing running a smart business with honing their craft.
For many, it’s a win-win.
Now running a high-touch service-based business might not be what works for you, but I think this trend still has something to offer you. Use it to challenge your assumptions about what you should be doing to generate revenue, earn trust, and serve customers. Look for opportunities you might have quickly dismissed while being herded into an information marketing model and ask yourself whether they might still have legs.
And, if you’re happily and profitably running an information marketing business, wonderful! I still think that there’s something to take away here.
Successful high-touch service-based businesses are highly structured and organized.
Consider how your information marketing business could optimize for experiences while continuing to systematize and automate. Or, consider where you might need to pull back on automation in favor of more human experiences.
When I looked through our archives to share an example of this with you, I had plenty of options.
I looked at Jennie Nash whose company Author Accelerator is paring book coaches with aspiring authors using a framework Jenny herself pioneered as a coach.
I looked at Autumn Witt Boyd who has built a full service law firm by honing in on her strengths.
I considered Arianne Foulks who has been raising the bar on ecommerce web design for years, and Jason Van Orden who exited one of the first online information marketing companies only to start delivering coaching and teaching experiences.
Ultimately, I decided on Tara Melvin, the founder of Perfect Planning Events.
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Dec 25, 2018 • 46min
EP 171: Focusing On Real Relationships With The Jordan Harbinger Show Host Jordan Harbinger
It’s tempting to think that all the time you spend on social media, writing articles, creating podcast episodes, or recording videos is time spent building relationships.
Heck, I’m doing it right now.
Every podcast episode I create is an effort to create a genuine connection between you and me.
But I know from experience that my efforts in broadcasting—whether on the podcast, with content marketing, through email, or on social media—pale in comparison to the time I spend interacting with people like you.
The conventional wisdom in today’s media-rich world is that you start by creating content, then build your audience, and then market a product to them. Final step? Bathe yourself in dollar bills.
However, this is a reductive take on what actually works.
Businesses aren’t built on audiences. They’re built with people. And there is a very real difference when it comes to creating for audiences versus nurturing relationships with real people.
We talk differently to groups of people. We share different ideas when we’re battling for the attention of others. We prioritize different outcomes when we’re shouting from our soapboxes.
At the end of the day, all this social maneuvering isn’t nurturing real relationships and its rewards are short-lived.
It might take a little more work but interacting with people one by one and cultivating true connection will serve you, your business, and your customers for the long haul.
That’s why “focusing on real relationships” is the second trend I see shaping small business in 2019.
Hopefully you’ve heard this before… but Paul Graham, a co-founder at the startup accelerator Y Combinator, says:
“Do things that don’t scale.”
Unfortunately, the vast amount of small business advice out there says to do exactly the opposite.
Only do things that scale. Only produce things that can be used by thousands of people. Find the lowest common denominator and make it your lead magnet. Only spend time on platforms where you can reach huge groups of people all at once.
Look, if doing things that don’t scale works for businesses that will eventually be valued in the ballpark of hundreds of millions of dollars or more, then it will work for you.
And, it starts by focusing on real relationships—one person at a time.
Now, the first relationship I would suggest you focus on is the one you have with yourself. Focus on understanding your strengths and your most productive ways of working. Focus on deepening your confidence and self-awareness. Focus on creating work that thrills you.
During my interview with Srini Rao, he told me:
“When you satisfy your own desires and you maintain your own values and standards — as opposed to letting it be driven by the desire to live up to the expectations of other people — you’re much more likely to create something with emotional resonance, something that’s going to have a lasting impact on people.”
Once you’ve developed habits and practices that strengthen your relationship with yourself, you have a foundation for nurturing relationships with others.
They might be potential customers or existing customers. They might also be colleagues or mentors. They could just be people you think are awesome who you want to get to know better!
What’s working for me is using the platforms I love the most to connect with individuals instead of just broadcasting. That means that when I hop on Instagram, I’m not just double-tapping and posting. I’m commenting, I’m responding to others’ stories, and I’m letting people know when they post something that really resonates with me.
It also means that I don’t just use our small business communit...
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Dec 20, 2018 • 44min
EP 170: 5 Trends Shaping Small Business In 2019: Prioritizing Sustainability With The When I Grow Up Coach Michelle Ward
This January, I’m celebrating 10 years as a small business owner.
To say that a lot has changed since I started my very first website while breastfeeding my infant daughter is an extreme understatement.
It’s not just the marketing tactics we rely on or the social platforms we frequent that have changed, though. I think it comes right down to the kinds of questions we’re asking and the visions we’re pursuing.
Our businesses have matured—and we’re doing our best to keep up.
Since my job is to both interview small business owners here on the podcast and observe the comings & goings of hundreds of small business owners in my company’s small business network, I have a pretty great vantage point for seeing how the landscape is changing.
I see 5 key trends shaping small business in 2019.
Over the next 5 episodes, I’ll be sharing each one with the help of interviews we’ve done over the last 3 years.
The reason we can do that is because, well, these new trends are actually nothing new. They’ve been bubbling beneath the surface for years—as all good trends do. In 2019, I see them tipping, reaching the main stream, and affecting the way you look at how you do business.
So while these episodes are old, I encourage you to listen to them with new ears and a new perspective. Things have changed—but these interviews represent the future, not the past.
The first trend I see shaping 2019 is prioritizing sustainability for your small business.
Now, what I’m not talking about here is the 4-hour workweek or passive income.
In 2019, small business owners are going to make substantive changes to the way their businesses are run to create something that has staying power.
People will worry less about what’s working right now and start thinking more about what’s going to work over the next 10 years.
For some, that will mean building more robust teams. For others, it’ll mean prioritizing values for social justice and environmental sustainability and building them into their business models. For still others, it will mean taking a careful look at their offers and paring back to the core things they’ll be able to sell for the long-term.
When I consider this trend, I think about Michael Siriani, who did the work to make his business a certified B Corp, or Jennifer Armbrust, who is exploring feminist business models.
I also think about Susan Correa, whose line of environmentally-friendly children’s clothes is changing lives in India, or Michelle Fifis, who’s streamlined her business to make her business easier to run and more profitable.
There’s also Natalie Sisson who is rebuilding her brand to be more focused on her customers and less on her or Chris Mittelstaedt, who has pioneered feeding the hungry with the product his company can’t use.
Ultimately, the small business sustainability story I wanted to share with you is Michelle Ward’s.
Michelle has been building her business under the brand When I Grow Up Coach for over 10 years. While things have certainly evolved over time, much of how she runs her business and supports her brand has remained the same.
Michelle has approached her business with an eye for sustainability from day one—and it’s supported her through the ups and downs of breast cancer and adoption.
As you listen to Michelle’s interview—whether it’s your first time or whether ...
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Dec 18, 2018 • 44min
EP 169: Leveraging The Wing Woman Effect With Build Yourself Workshop Founder Mia Scharphie
The Nitty Gritty
* The origin story of the “wing woman effect”
* How Mia Scharphie, founder of Build Yourself Workshop, uses what she calls a Virtuous Circle to connect with other business owners and grow her company (and how it differs from a mastermind)
* Why making amazing connections with other entrepreneurs doesn’t come down to magic or luck but instead by intentionally crafting the relationship
* How to use online business communities to find a business ally (plus, a number of ways to do this offline, too)
* What to do when you struggle with making an ask in business
Mia Scharphie believes in the power of a virtuous circle. It’s all about proactively cultivating the business allies within your realm who help take you to new heights — in business and in life. In this episode, Mia shares exactly how she cultivates strong business allies by making asks, connecting over a virtual coffee date with people she admires, and so much more.
If you’ve ever wondered how to take your business to the next level through strategic business connections, a business bestie, or a wing woman as Mia describes, this conversation is for you. (And be sure to download her guide on growing your virtuous circle by clicking here.)
We release new episodes of What Works every week. Subscribe on iTunes so you never miss an episode.
Creating your virtuous circle
“It’s about linking together with other people who can support you and connect you to the opportunities that you want. But it’s also about building deeper, longer-term relationships with other people that really levels you.” — Mia Scharphie
For Mia, a virtuous circle isn’t a nice to have; it’s a must-have. “It’s a fundamental approach to how I think about and grow my business,” she says. “It’s really about focusing on other people — but as part of this collective pact that can move you forward.”
There are a number of totally practical ways that Mia creates and grows her virtuous circle. First, she has what she called a business wing woman. “It’s what some people might call a mastermind,” Mia says. “We get under the hood. We share language and templates. Sometimes we’ll even swap challenges and solve them for each other.”
For example, Mia recently helped her wing woman through a recent challenge on structuring her calendar… and ultimately, Mia helped streamline her schedule so it’s that much easier to say yes to what she wants and no when she feels it necessary to preserve her energy and focus.
Working with this business ally is something Mia’s done for the better part of four years. She also makes goals to meet for virtual coffee with interesting business owners that she connects with through CoCommercial and podcasts. This approach to connecting with other members and online business owners has led to partnerships and a safe space to share what’s working — and what’s not — in business.
Intentionally crafting connections
“Sometimes things seem magical… but I think you can craft a relationship this good.” — Mia Scharphie
In this episode, Mia talks about the origin of her relationship with her “wing woman” Kristen… and how, over 4 years, they’ve supported each other through countless business challenges. And, as Mia mentions, this connection with Kristen didn’t happen by magic or by accident.
Instead, relationships that click and last begin with your willingness to make an ask — even if you’re not fully clear on what you’re asking for, Mia says. The other key, she adds, is “to show — not tell — what is really going on in your business.
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Dec 13, 2018 • 30min
EP 168: Shifting Your Mindset To See Yourself And Your Small Business Differently
Both as humans and as business owners, we tell ourselves stories.
I might tell myself that no one will pay what I need to charge for my work.
You might tell yourself that you can’t hire anyone who will do the work the way you want it to be done.
Someone else might tell themselves that they don’t have enough experience to be taken seriously, that hard work equals results, or that they can do it all themselves.
These stories aren’t necessarily good or bad–but they do frame the way we see our opportunities and challenges. These stories influence our plans and calculations. They impact our relationships with others and the relationship we have with ourselves.
The more I’ve learned about business, the more I’ve learned that these stories play a huge role in how likely our businesses are to succeed or stagnate.
The stories we tell ourselves as entrepreneurs make up our mindsets.
Another way to look at it is that these stories create a pattern of expectations and beliefs. Every action you take and every decision you make is filtered through these expectations and beliefs.
Your expectations and beliefs can keep your business stuck—even when it feels like you’re doing everything right. Your mindset can reinforce assumptions and prevent you from seeing opportunities to innovate. Your mindset can even create problems where there were none before.
You might build a new product, streamline your business model, employ a new marketing strategy, or even pivot your business entirely–but if your fundamental beliefs and expectations about your business are off, you’ll remain stuck.
Last week, I realized an old mindset that I need to work to rewrite and redefine.
It’s a story about not being popular–an old, ingrained expectation that who I am, what I create, and what I value isn’t something people actually want.
And when I say this is an old story, I don’t mean “as old as my business” old. I mean it’s almost as old as I am.
I can see how this mindset has repeatedly caused me to sabotage my own work. I start a project assuming it will flop or be misunderstood. I finish a project with half the attention I started it with because I can already see it bombing.
Maybe it surprises you to hear this. It surprised me to realize it! But it’s true.
This is the #1 thing I need to address in the new year–for both my personal satisfaction and the health of my company.
I know my true goal isn’t to be popular or to create something for everyone. However, I am on a mission to create work that serves people in a big way and I can’t do that while continuing to operate under these expectations and beliefs.
As you can imagine, discovering a story like this can start to change everything. Suddenly, you see yourself, your business, and your opportunities in new ways.
It’s been a constant theme here on the podcast as many conversations about marketing, management, or brand have turned into conversations about an unexpected identity crisis or mindset shift.
So we wanted to dedicate a whole episode to exploring the ways that shifting your mindset can shift your business.
Now, before we get too far in, I want to make one thing clear: shifting your mindset is not a magic bullet. While your mindset can absolutely get in your way and impact your actions, it does not instantly solve systematic racism and sexism. It doesn’t break down very real barriers that exist because of your gender, your sexual orientation, the socioeconomic status you come from, or the place you were born.
These things are not in your head. They require extra work and energy–whether you’re a white man doing the work to create a more inclusive work culture or a genderqueer person of color battling these obstacles on a daily basis.
But again, to do that work effectively, you have to be aware of the assumptions, beliefs,
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Dec 11, 2018 • 30min
EP 167: Focusing On Bigger, Longer, and Local With Scoop Studios Founder Maggie Patterson
The Nitty Gritty
* Why Maggie of Scoop Studios pivoted from working with online entrepreneurs to local, in-person clients — and how tapping into her existing network made all the difference in finding leads
* How Maggie’s role within the agency shifted to Director of Sales when her business partner left — and how that impacted the rest of the team structure
* Who updates standard operating procedures and when
* Why Maggie only works with clients on engagements six months and longer (hint: healthier cash flow and happier clients!)
Maggie Patterson, Principal of Scoop Studios, recently made a huge pivot in her company. For the first year or so of business, Maggie worked primarily with online business owners. But when she saw that business wasn’t growing and finding leads became increasingly harder, Maggie knew it was time for a shift.
That’s when she decided to stop working with online business owners and instead work with local business owners. The results? She’s getting paid more, she’s working with her ideal clients, and she’s working with them on a longer basis. “I’m so glad we made that move,” Maggie says.
In this episode of What Works, Maggie shares the process of pivoting her business, growing her team, and setting herself up for success over the long-term.
We release new episodes of What Works every week. Subscribe on iTunes so you never miss an episode.
Embracing local events to find clients
“I can walk in and be one of the smartest people in the room whereas online there are a lot of smart people. I have a different perspective than everyone else in that room. That enabled me to make a lot of connections quickly and really parlay that into business a couple months later.” — Maggie Patterson
Despite living in a town with a population of 500, a post office, and a pizza place, Maggie found there were more than enough leads right in front of her. But, as an introvert, she had to motivate herself to get in front of them.
“My motto during that time was: every single day, I have to talk to people,” she says. “It’s so easy when we work behind a computer to go an entire day and not connect with people. To not leave our house. To basically hide out and do our thing.”
So as Maggie shifted from working with online businesses to local businesses, she knew she had to look elsewhere for leads. That’s why she started going to the Chamber of Commerce meetings and realized that her next clients were in that room.
Reinvigorating your network
“I spent a lot of time reconnecting with past clients and reconnecting with people I worked with that were in different corporate roles. I was really reinvigorating my network and investing in those people and letting them know that I’m open for business. Because you can’t assume that people know what you’re doing.” — Maggie Patterson
Maggie doesn’t just find leads from going to in-person events. She also reconnects with past colleagues or past clients to let them know: here’s what I’m doing and I’m open for business! Maggie stresses the importance of staying connected with those folks and investing in the connections that already exist. They are a goldmine!
Longer engagements = win
“Longer engagements are easier for us to manage because we aren’t doing the kind of project work where we’re parachuting in and out of someone’s business. There’s always so much context missing. When we’re doing ongoing work, month in and month out, we can provide a better work product. And, ultimately, it’s much easier for me to not be involved on a day-to-day basis for the smart cookies on my team to take that mantle and run with it. That frees up my time to really focus on running the business.
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Dec 6, 2018 • 33min
EP 166: What’s Working In Live Video Broadcasting With Crowdcast Founder & CEO Sai Hossain
The Nitty Gritty
* The live video broadcasting opportunity Sai Hossain saw for creators and entrepreneurs that inspired him to create Crowdcast
* How small business owners are generating leads with live video and 2 key ways they are using live video to drive revenue
* How live video is working for small business owners today as they build audiences and nurture relationships
* Plus, the inside scoop on the future of video broadcasting and some features coming soon to Crowdcast
Must See TV might be all but a thing of the past but there is still one place where appointment television is alive and kicking: live video broadcasting.
Today, you can get up close and personal with your favorite brands, celebrities, influencers, and entertainers streaming places like Instagram Live, Facebook Live, and YouTube Live. Plus, you can hang out with a community of fans, ask questions, and suggest topics while you watch.
But live video broadcasting isn’t just for internetainers. By 2021, live video is projected to be a $70 billion industry and small business owners and emerging creators are using it for big business results.
So, how, in the current environment, are business owners using live video to power their businesses?
Sai Hossain, founder and CEO of Crowdcast, is leading the charge. He’s taking live video broadcast beyond the webinar to build audiences, nurture relationships, and drive revenue.
We release new episodes of What Works every week. Subscribe on Apple Podcasts so you never miss an episode.
Helping people share their knowledge
“How can I create a new live video experience that is really focused on conversation?” – Sai Hossain
While on a retreat in Costa Rica with creators and thought leaders, Sai learned about a key challenge influencers faced in expanding their audiences and spreading their messages: outdated webinar software and clunky online course platforms.
He discovered an opportunity to help creators and entrepreneurs share their knowledge, host conversations, and gather their communities together.
Sai created Crowdcast to solve this problem.
Live video broadcasting is an evolving market
“We know that the world of live streaming is going to merge with the world of live seminars.” – Sai Hossain
As small and creator-owned businesses push the limits of social media and live video, technology is evolving to meet demand. Live video platforms are constantly rolling out new features and programs.
Sai and his team are talking with users, watching the trends, and adapting Crowdcast to meet demand, too. They’ve recently rolled out features that allow for better lead generation and payments–with more on the way.
More than just webinars
In the past, when creators, influencers, and online business owners thought “live video,” they thought about webinars. However, Sai sees an opportunity to create beyond the traditional webinar format. From his perspective, the distinction between audience-building and revenue-generating content is a blurry one.
Crowdcast users are creating regular live shows, interacting with their audiences in Q&A sessions, and hosting roundtable discussions.
They’re creating content in real-time–even when they’re not launching or selling. Live video can create that coveted “know, like, and trust” factor fast when creators and marketers put relationship-building and content first.
This content can both build community and drive revenue over time.
Crowdcast for activism
“I would say the biggest issue with tech companies...
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Dec 4, 2018 • 32min
EP 165: Tracking Goals While Managing The Day To Day With Serial Entrepreneur Jessica Fialkovich
The Nitty Gritty
* What Jessica Fialkovich’s daily life looks like as President and Cofounder of Transworld Business Advisors—Rocky Mountain, investor, and nonprofit board of director
* How Jessica uses the bottom up approach for setting company goals
* How goals are established among team members and how those goals influence yearly company goals
* Why you should think about your business not as an extension of your identity but as a financial asset — and ways to shift your mindset
* Jessica’s tips for efficient team meetings
Jessica Fialkovich knows what it takes to start and grow a successful small business. And, she knows how to buy and sell them. Today, Jessica’s the President and Co-Founder of Transworld Business Advisors—Rocky Mountain and she strategically leads and supports her team.
In this episode, Jessica outlines exactly how she and her team set the yearly company goals. She also describes goal setting is a personal process — and how she works with each team member to create goals that work to motivate and inspire them.
We release new episodes of What Works every week. Subscribe on iTunes so you never miss an episode.
Setting and establishing yearly company goals
“I look at all of my team’s goals individually and then I roll them up into overall company goals. We usually establish somewhere between 3-5 goals for the year. Then we establish an overall theme.” — Jessica Fialkovich
Together with her team, Jessica sets a handful of yearly goals for the company. What do they want to accomplish? Who do they want to help? What’s their upcoming focus? Right now, Jessica and her team are setting goals for 2019 because they like to have them honed in on by the end of the year. As a team, they decide on a yearly theme as well. Their goal for 2019 is to take really good care of the buyers. “This is an area where we really can improve,” Jessica says.
Once the goals are set, Jessica summarizes them into one company document which is distributed to the entire team.
Empowering team members to set goals
“Most of the team are salespeople and salespeople are very goal-oriented to begin with. I talk to them about them running their own mini business underneath our business. As much as we do well, and as long as their business is increasing, they’re going to do well. Their financial rewards are tied directly to their performance.” — Jessica Fialkovich
Not only do you want to set goals, but you also want to empower your team members to reach them. Jessica keeps her team focused by hosting quarterly kick-off meetings to do just that. Every team member creates between 3-5 personal metrics for the year, including:
* What is their gross commission goal?
* How many deals do they want to close?
* Is there a specific industry or niche they want to specialize in next year?
* How do they plan to personally grow and develop next year?
Their goals also draw back to the company’s yearly theme.
Motivation and personalizing goals
“Show me what’s worked in the past and let’s amplify that for the future.” — Jessica Fialkovich
Every person is motivated differently. Some people are motivated by stretch goals that almost seem impossible to reach. It pushes them. Alternatively, some people resonate with more realistic goals that build off of their work the year before. These same people would be demotivated by such a big stretch goal.
That’s why Jessica works with each salesperson on a personal level. Together, they look at what happened in the past that worked (and what didn’t), plus what needs to change to reach that new goal. For example,
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