ProfitSchool

Topics Covered In This Episode: Planning out your ideal workday: In this episode, Mercer and Jeff Sauer discuss the importance of planning out your ideal workday to maximize productivity and accomplish your goals. Balancing time and energy: They explore how to evaluate yourself and be productive by balancing your time and energy throughout the day, aiming to end the day with a sense of accomplishment and energy. The importance of planning for the end of the day: Mercer and Jeff emphasize the significance of planning for the end of the day and how it can be a challenge to plan for more than just one task. They share strategies for managing energy ebbs and flows throughout the day. Consequences for procrastination: The hosts discuss the concept of procrastination and suggest giving yourself consequences to combat it. They also provide insights into scoping goals realistically and getting better at time management. Breaking down time blocks: Mercer and Jeff explain the Pomodoro technique and the benefits of time blocking. They delve into the idea of warm-up time before diving into tasks and share their approaches to allocating time blocks for different activities. Delegating and prioritizing tasks: The hosts highlight the importance of having an assistant to help prioritize tasks and delegate smaller projects. They discuss the significance of setting up a schedule and implementing positive constraints to enhance productivity. The $5,000 rule and blocking off time: Mercer and Jeff introduce the concept of the $5,000 rule, which involves blocking off time for tasks that can potentially generate $5,000 or more in value. They emphasize the value of effective time management in achieving productivity goals. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=286my3vn

Topics Covered In This Episode Introduction and Defining Social Media Strategies - The episode kicks off with Mercer and Jeff introducing the concept of social media strategies, focusing on how to overcome "shiny object syndrome" and the importance of choosing one social media platform to concentrate on. Choosing the Right Channel - An exploration of how to pick the right social media channel for your business, with a deep dive into the value exchange on YouTube. Jeff and Mercer discuss the importance of research before selecting a channel. The Value Exchange and Consistency on YouTube - This section delves into the concepts of tribal marketing, co-producing content with other brands, and the significance of consistent brand content. The hosts also discuss on-demand workshops for members and how consistency is key to membership retention. Leveraging LinkedIn to Attract Subscribers - Here, the hosts examine the strategy of using LinkedIn as a supplementary channel to email. They explain how LinkedIn can add value to free channels and discuss why tactical learning doesn't always lead to success on social media platforms. Social Media Niches and the Role of YouTube - A detailed discussion on the three main niches of social media, and how YouTube serves as both a social network and a tactical network, combining search and discovery features. The hosts also draw a comparison between email and LinkedIn, and how email can be used like social media. Tactical Marketing and the Future of Social Media - This part focuses on the ways to be tactical with your marketing strategy, the fracturing of social media into smaller communities, and the rise of a new wave of buying power. Mercer and Jeff  conclude with the importance of sketching out the future of a company, using Reddit both tactically and strategically, and summarize three key takeaways from the episode. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=68rz0r98

Topics Covered In This Episode Discussion on the idea of "buying your time back" as a business owner, with hosts Mercer and Jeff Sauer elaborating on various strategies, including hiring a generalist to balance business operations and how to effectively delegate day-to-day activities. A Practical Use Case: Invoicing - An exploration of invoicing as a perfect example of a task that can be outsourced. This section delves into the mental energy required for such tasks, and the surprising fact that many business owners still handle invoicing themselves. Offloading Tasks: Video Editing and Bookkeeping - Analysis of cost-effective strategies for offloading tasks like video editing and bookkeeping, including hiring offshore resources. The hosts emphasize how this not only saves time but also frees up mental energy for more crucial business decisions. The Role of an Executive Assistant - Discussion on the changing role of executive assistants, how they can handle tasks like email management, scheduling, and website design, and the importance of understanding the thought process and anticipating the business owners' needs. Entrepreneurial Mindset and the Hunter-Farmer Analogy - Insights on how successful entrepreneurs effectively manage their time, with references to the book "Buying Your Time Back." This section explores the "hunter vs farmer" analogy and the dangers of assuming that all team members work or think the same way. The Importance of a To-Do List and Task Delegation - A segment highlighting the importance of having a to-do list, with hosts sharing personal experiences and strategies for effective task delegation, and the concept of moving up the "topic of the VA." The episode wraps up with the hosts emphasizing the need to recognize patterns in work routines to optimize time management. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=x81vzrvn

Topics Covered In This Episode: In this episode we started with a discussion on Standard Operating Procedures (SOPs), the operating manuals for businesses, highlighting the need for their constant update and distinguishing them from project plans. Jeff and Mercer debated whether SOPs should be attached to every task in a project and explored the balance between trust in an individual's capabilities and following SOPs. The "broken windows theory" with subway cars was brought up as an analogy. They discussed the  frequency of keeping SOPs updated, emphasizing the importance of building SOP maintenance into a company's culture. It also brought up the metaphor of taking out the trash in relation to SOP upkeep. The conversation then moved to the importance of keeping up to date with technology and proposed creating an SOP for the podcast to streamline its delivery. Mercer and Jeff deliberated whether teaching should be separate from the checklist, arguing for the need to educate people on their roles. We wrapped up by stressing the importance of a clear organizational structure and strong enforcement of SOPs. We highlighted the need to define a company's culture explicitly and reiterated the idea that everyone in a company has a responsibility, likening it again to everyone taking out the trash. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=4890p67n

Topics Covered In This Episode: In this episode we began with a discussion on when and how to generate leads using cold outreach, distinguishing between spam and cold outreach and highlighting the importance of building relationships rather than simply sending messages. The conversation moved to the topic of hiring for cold calling, suggesting a shift from cold calling to account-based marketing. The latter was compared and contrasted with cold outreach. We then delved into how to identify a good copywriter, emphasizing the significance of working with one or two clients at a time and operating on a referral basis. Mercer and Jeff discussed reaching out to accounting firms like PSI, stressing the importance of offering something like tax credits and payroll credits in order to build a relationship. We wrapped up with a distinction between cold and tepid outreach, outlining the importance of first impressions and the effort that cold emailing requires. We also emphasized the difference between cold and warm outreach.. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=rnkzxq78

Topics covered in this Episode: We discussed the significance of defining and sizing a team, as well as strategies to shorten the business runway by hiring outside of comfort zones. We touched on the importance of financial faith in business, mentioning that there is usually money coming in and how this influences decisions primarily related to the founder. The topic of hiring was tackled from an innovative perspective, arguing that hiring employees should be viewed as an opportunity rather than an expense. This concept was further expanded upon with the idea of leveraging a line of credit for capital. Jeff shared his personal journey to becoming an agency owner, discussing the challenges and acknowledging that entrepreneurship isn't for everyone. The discussion concluded with reflections on potential mistakes, such as putting all eggs in the same basket and questioning whether certain actions could have been taken sooner. It also distinguished between profit centers and expenses in a business setting. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=x8yqjzx8

Topics Covered in this Episode We discussed strategies for maximizing business profit, emphasizing the importance of margins and differentiating between agency and training business models. The cost of goods sold is mentioned as an ideal 25% to 35% for healthy margins. We emphasized the importance of reinvesting in the business to prevent burnout, suggesting taking 25% of leftover money for reinvestment. We discussed the three ways to get paid: salary, profit, and book value. We also highlighted the distinction between a startup and an agency business model. The conversation moved towards expenses, stating that they are the major expense in the agency world. It suggested strategies for retainer consistency of revenue and discussed the importance of revenue projections for predicting profitability. Finally, we discussed strategies to qualify leads and choose who to work with, introduced the "fruit tree" analogy for business profit, and wrapped up with Mercer's thoughts on profitability. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=28xj6278

Topics Covered In This Episode The episode explores the concept of referrals and differentiates it from word of mouth, emphasizing that successful referrals rely on top-of-mind awareness rather than a standalone strategy. It discusses the role of strategic funnel management and clarifies the inefficiencies of top-of-mind marketing in the early stages, yet shows its importance in generating leads and awareness. We  dive  into the mechanics of running a referral system, noting that it can be more cost-effective than anticipated and suggesting strategies for tracking referrals and fine-tuning marketing efforts. The discussion covers ways to leverage social media for referral generation and examines the different implications of high-ticket and low-ticket referral traffic. It concludes with enhancing top-of-funnel awareness through various stages of awareness and distinguishes between endorsements and referrals. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=v8w65lqn

Topics Covered In This Episode Evaluate the Pros and Cons of Remote vs. In-person Employees: Assess your business's needs and resources to decide which work model is the best fit. Consider factors such as flexibility, cost-effectiveness, and team dynamics. Build a Permanent Business by Hiring the Right Talent: Initially, subcontractors might be the way to bootstrap your business, but transitioning to permanent roles will add stability and growth potential. Remote work can offer a higher ROI if managed effectively. Organize Regular Team Meetings: Both remote and in-person teams benefit from consistent, structured meetings. Consider implementing quarterly meetings with team leaders for budget and problem-solving discussions. Foster Global Team Cohesion: If your team is distributed worldwide, strategize ways to promote connection and shared vision, such as occasional in-person meetups or virtual team-building activities. Practice Purpose-Based Communication: Show your remote team that you value them by fostering an environment of openness and encouraging team members to contribute ideas. Set clear goals and encourage your team to make continuous improvements. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=mn4302v8

Topics Covered In This Episode Create a Feedback Culture: Establish an environment that encourages feedback and continuous improvement. This encourages employees to constantly make processes better and promotes a culture of shared ownership and responsibility. Find Your 'Diamond in the Rough': Aim to hire individuals with the potential for growth, those who come in at one level but have the capacity to quickly adapt and excel. This can help you build a capable and dedicated team that will drive your business forward. Empower Your Team: Enable your team to make decisions and improve processes. This not only enhances efficiency and job satisfaction, but it also creates a sense of ownership among employees. It's about finding the right balance between micromanaging and over-delegating. Hire for Specific Roles: Hiring for defined roles makes it easier to delegate tasks and manage processes. Understand the varying levels of experience and expertise needed for each role - from beginner to advanced - and hire accordingly. Hire 'Rocket Ship' People: Look for individuals who are self-starters, driven, and capable of making significant contributions to your business. These 'Rocket Ship' people can propel your business growth and make a substantial difference in achieving your objectives. Have a question or feedback about Business Unfiltered. Record an audio message https://s.bcast.fm/business-unfiltered-with-chris-mercer-and-jeff-sauer?episode=lnqzj4j8