Business Brain – The Entrepreneurs’ Podcast

In this episode of Business Brain, hosts Dave Hamilton and Shannon Jean celebrate “International Talk About Money Day” while sharing valuable insights on retirement, entrepreneurship, and teaching effectively. They tackle a listener’s question about retirement, emphasizing the importance of defining retirement on your own terms. Both hosts share their experiences of transitioning out of traditional careers but continuing to pursue meaningful work, whether through new ventures or supporting nonprofits. They also delve into the concept of simplifying and breaking down instructions when helping others, especially when teaching complex topics like buying liquidation products. They stress the importance of being thorough when teaching and using tools like Loom to create over-the-shoulder learning experiences. Shannon also shares the surprising news of Loom being acquired for $975 million, highlighting its value as a teaching tool. Finally, the episode wraps up with encouragement to keep asking questions, leaving reviews, and pursuing a “charmed life” filled with flexibility and meaningful pursuits. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #597 for Casual Friday, November 8th, 2024 November 8th: International Talk Money Day 00:01:02 Business Brain Reviews 10/30/2024 Leave us a review! 00:02:07 Ed-When is the right time to retire? How do you define retirement? 00:08:00 Focus on learning how to solve for money.  00:09:56 SPONSOR: Vanta. Vanta automates compliance for ISO 27001, SOC 2, GDPR, and more, saving you time and money — while helping you build customer trust. Save $1,000 at Vanta.com/brain 00:11:14 Don’t Ignore The First Steps Loom Loom sold for $975 million 00:18:17 597 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post Right Time to Retire + Don’t Ignore First Steps – Business Brain 597 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of “Business Brain,” hosts Dave Hamilton and Shannon Jean discuss the implications of using AI-generated content in a corporate setting sparked by an email from a listener, Jeff. They explore the legal gray areas surrounding AI-generated works, especially regarding copyright and company ownership of AI-assisted creations. The hosts believe the legal response to AI often stems from fear of the unknown, as the copyright implications for AI-generated content have yet to be tested in court. The hosts also discuss the often-overlooked upside of entrepreneurship: the “exponential upside.” Shannon likens entrepreneurship to casting a net, where small daily efforts eventually capture larger opportunities, sometimes dramatically changing an entrepreneur’s life. He emphasizes the importance of consistent effort, experimentation, and building infrastructure and skills rather than just chasing grand opportunities. Shannon shares that he’s preparing for what he believes could be the most profitable venture of his life, though it requires further skill development. The episode also includes a sponsorship from Vanta, a company that automates security compliance, and the hosts encourage listeners to keep exploring entrepreneurial opportunities, sharing their success stories at feedback@businessbrain.show. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #596 for Wednesday, November 6th, 2024 November 6th: National Nacho Day 00:01:19 Jeff-Who owns the content created with help from AI? ChatGPT is a great procrastination-killer 00:09:23 SPONSOR: Vanta. Vanta automates compliance for ISO 27001, SOC 2, GDPR, and more, saving you time and money — while helping you build customer trust. Save $1,000 at Vanta.com/brain 00:10:40 Exponential Upside of Being an Entrepreneur Every business starts as a side hustle Have a business that’s a sandbox 00:20:56 596 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post AI Copyright + Exponential Upside – Business Brain 596 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of the Business Brain podcast, hosts Dave Hamilton and Shannon Jean share personal anecdotes to emphasize the importance of understanding one’s audience and leveraging AI tools to navigate tricky situations. Shannon shares a humorous experience with LED candles at vacation rentals, highlighting the unpredictability of guest behavior. Dave discusses a recent gig where he used ChatGPT in voice mode while driving to craft a response to a sound engineer he had a conflict with. This approach helped him achieve a positive outcome, which led to a broader discussion about using AI for customer service and problem-solving in business. The hosts also explore the dynamics of relationships when one partner earns significantly more than the other, drawing on a recent article and reflecting on their own experiences. They emphasize that the right spouse can be a powerful support in an entrepreneur’s journey, whereas the wrong one can hinder progress. They encourage the audience to use AI in creative ways and remind listeners to reach out with their stories and feedback. This episode’s sponsors include LegalZoom and Notion, which offer tools for business formation and productivity. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #595 for Casual Friday, November 1st, 2024 00:01:04 November 1st: Scented Candle Day Also National Authors’ Day 00:02:14 Use ChatGPT voice to rehearse a custom script for your upcoming meeting Non-Complementary Behavior 00:12:05 SPONSOR: Notion combines project management with your docs, knowledge base, and AI. You can try it for free today at Notion.com/businessbrain. 00:13:42 SPONSOR: Launch, run, and make your business official at LegalZoom.com — Promo code BBSHOW gets 10% off any business formation product. 00:15:24 The Right Spouse is a Force Multiplier…and the wrong one is a business-crusher 00:23:28 BB 595 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post AI Saved My Ass – Business Brain 595 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of Business Brain, Dave Hamilton and Shannon Jean tackle the delicate topic of politics in business, discussing whether or not businesses should share political views and how doing so can impact credibility. They share their thoughts on staying politically neutral, using an analogy to musicians and how their political stances can influence listeners’ perspectives. The hosts also explore the importance of building and maintaining credibility in business. They dive into real-life examples of how over-delivering on promises and offering excellent service can build trust with customers. Shannon shares his experience selling handbags, highlighting how he gradually built credibility over time to increase sales. Tune in to learn about the value of credibility in business, why it’s often best to keep politics out of your business communication, and how to create what the hosts call your “credibility stack.” This is a must-listen for entrepreneurs and business owners looking to build trust and ensure long-term success. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #594 for Wednesday, October 30th, 2024 October 30th: National Checklist Day 00:01:38 Let’s Talk About Talking About Politics Sonos 00:10:02 SPONSOR: Notion combines project management with your docs, knowledge base, and AI. You can try it for free today at Notion.com/businessbrain. 00:11:37 SPONSOR: Launch, run, and make your business official at LegalZoom.com — Promo code BBSHOW gets 10% off any business formation product. 00:13:20 Credibility and how to prove it Jeff Bezos “No One Trusts The Media” What’s In Your Credibility Stack? 00:22:19 BB 594 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post What’s in Your Credibility Stack? Business Brain 594 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of Business Brain, hosts Dave Hamilton and Shannon Jean discuss insights from their recent guest, Michael Prendamano, who introduced his bin store concept. The store operates with a unique pricing model where the price of items decreases each day until sold. They explore how this innovative approach adds value for both customers and suppliers, emphasizing customer service at every level. Dave and Shannon also discuss their experiences running family businesses, sharing stories about hiring family members, building trust, and maintaining professionalism in family business dynamics. They highlight the importance of treating all team members equally and the benefits of sharing entrepreneurial lessons at the dinner table. The episode wraps up with a nod to the value of family and business integration while keeping a focus on respect and clear boundaries. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #593 for Casual Friday, October 25th, 2024 October 25th: World Pasta Day 00:01:17 Dissecting the Bin Store with Michael Predamano, Business Brain 592 Bring value to your customers and your vendors Make customer service your noble cause Every business is in the Customer Service business 00:06:45 SPONSOR: Vanta. Vanta automates compliance for ISO 27001, SOC 2, GDPR, and more, saving you time and money — while helping you build customer trust. Save $1,000 at Vanta.com/brain 00:08:12 Turns Out I’m Running a Family Business The Value of Dinner Table Lessons 00:23:26 BB 593 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post Family Business Dinner Table Lessons – Business Brain 593 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of Business Brain, Dave Hamilton and Shannon Jean talk with Michael Prandamano, founder of The Bin Store. Michael shares his journey from starting out with retail arbitrage in his backyard storage shed to operating two successful bin store locations moving over 1.75 million items annually. The Bin Store offers a unique pricing model where everything starts at $6 on “restock days” and gradually decreases throughout the week, making it a treasure hunt for customers. Michael discusses the challenges of scaling his business, managing inventory, negotiating leases, and employing effective guerrilla marketing strategies to attract customers. He emphasizes the importance of delivering value to customers and leveraging his past experiences to make strategic decisions. Michael also offers insights into the sourcing process, where he buys truckloads of returned products without delving into specific manifests, trusting in the cost-per-piece model to ensure profitability. The episode showcases the creativity, adaptability, and customer-focused mindset needed to thrive in retail liquidation. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #592 for Wednesday, October 23rd, 2024 October 23rd: National Slap Your Coworker Day 00:02:00 Special Guest: Michael Prendamano – The $6 Bin Guy Started in the shed, then the garage, and the living room Began with selling things he owned, compartmentalizing to different online stores Then started buying palettes And the “Death Pile” started growing…things he couldn’t sell online 00:07:21 SPONSOR: Vanta. Vanta automates compliance for ISO 27001, SOC 2, GDPR, and more, saving you time and money — while helping you build customer trust. Save $1,000 at Vanta.com/brain 00:08:47 So… in-person it is! Over 60 employees “What kind of value are we delivering to the customer?” Make that the focal point 00:10:28 If I’m going to do it, go big Be aware of risk aversion BinStore Brands – Parent company Entities set up for each individual store Another entity for the palette business Run a P&L every week 00:14:23 The 6-6-5-4-3-2-1 pricing model It’s about piece-count Treasure hunters come in first, but then it’s just bargain bin “And that buys a customer for life” 00:18:40 Finding suppliers for items like this 00:19:59 Customer acquisition is a multi-pronged approach Flyers YouTube SEO Facebook – Static photos are more valuable than videos. Wet the appetite of the treasure hunters 00:22:18 BB 592 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post Michael Prendamano – The Bin Store – Business Brain 592 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of Business Brain, Dave and Shannon discuss a variety of topics, starting with the expansion of Spirit Halloween stores into the Christmas season with Spirit Christmas, highlighting the pop-up retail model’s risk-managed approach. They then dive into Michael Girdley’s list of “11 tells of successful people,” exploring traits like clarity of speech, the ability to take action, and a willingness to take risks and be introspective. Shannon shares his own experiences with entrepreneurial challenges, including a software business failure that led to a successful book. The hosts also emphasize the importance of unfailing self-belief and optimism while discussing how successful people make hard tasks look easy and seek to align compensation with their contributions. The episode includes a sponsorship message from Shopify, underscoring its role in helping entrepreneurs sell products effectively. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #591 for Casual Friday, October 18th, 2024 October 18th: National Necktie Day 00:01:19 Spirit Halloween stays open with a new sign…Spirit Christmas! 00:04:11 SPONSOR: Shopify – For anyone to sell anywhere, sign up for a one-dollar-per month trial period at Shopify.com/BusinessBrain and upgrade your selling today! 00:06:21 Michael Girdley-11 Tells of Successful People Clarity of speech Two Marshmallow Thinkers Cheap Cars Introspective by Nature Bias to action Super responsive Make hard things look easy Intellectual honesty Game selection Want to be compensated for contribution Unfailing self-belief and optimism 00:18:15 Being able to frame your failures 00:20:01 BB 591 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post “Tells” of Successful People – Business Brain 591 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of Business Brain, Dave and Shannon dive into several topics, including wedding planning insights, tools for managing emails effectively, and the concept of risk aversion in entrepreneurship. They discuss how tools like SaneBox can streamline email management by filtering out non-essential emails and setting reminders to ensure timely follow-ups, particularly for entrepreneurs and salespeople. They also explore the importance of taking risks as an entrepreneur, highlighting that overcoming risk aversion and pushing boundaries is key to growth. The discussion touches on how risk-taking can be a competitive advantage and how breaking conventional rules often drives successful businesses. The episode also features a sponsorship segment by Shopify, where Dave shares his experience using Shopify for one of his businesses and how it significantly simplified selling merchandise worldwide. They conclude by encouraging listeners to reflect on their own risk-taking behavior and share their thoughts. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #590 for Wednesday, October 16th, 2024 October 16th: Global Cat Day 00:02:16 Planning weddings the RIGHT way 00:03:53 I use SaneBox, What about you? SaneReminders 00:09:36 SPONSOR: Shopify – For anyone to sell anywhere, sign up for a one-dollar-per month trial period at Shopify.com/BusinessBrain and upgrade your selling today! <https://shopify.com/businessbrain> 00:11:29 Risk Is a Competitive Advantage eBay Financing Kabbage Financing “Have the courage to suck at something new.” How to pronounce GIF 00:21:12 BB 590 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post Risk is a Competitive Advantage – Business Brain 590 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of Business Brain, hosts Dave Hamilton and Shannon Jean explore AI’s impact on business practices. They introduce “AI IRL,” sharing how they use tools like Freepik for generating visuals and Cast Magic for transforming content efficiently. The conversation addresses client relations, focusing on the influence of budget sizes and the importance of clear communication. They highlight the balance between providing quality service and managing expectations while inviting listeners to share their own experiences with AI. The episode wraps up with actionable insights on leveraging AI tools and enhancing client interactions. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #589 for Casual Friday, October 11th, 2024 October 11th: National Spread Joy Day 00:01:18 AI IRL: Freepik AI Image Creation Spotify Poll: How often are you using AI in your business? 00:05:53 SPONSOR: Notion combines project management with your docs, knowledge base, and AI. You can try it for free today at Notion.com/businessbrain. Castmagic 00:07:37 Candidly, not Honestly 00:11:13 Small Budgets, More Frustration Be aware of the percentage of a client’s budget that they are spending on you. 00:18:02 Be aware of getting jaded about your customers “I compartmentalize my time” 00:23:41 BB 589 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post Smaller Budget = More Headaches – Business Brain 589 appeared first on Business Brain - The Entrepreneurs' Podcast.

In this episode of Business Brain, we explore the evolving landscape of online selling, focusing on the recent changes to Poshmark’s fee structure. I share my experiences from building a successful handbag business on the platform, discussing how the new tiered fees—which can drop sellers’ earnings to as low as 5.9%—may impact buyer behavior and seller strategies. We analyze the potential consequences of introducing buyer fees and how this shift aims to attract high-ticket sellers while navigating current market trends. Additionally, I address the need for businesses to adapt to changes quickly, especially with the important Q4 season approaching. We conclude by considering dynamic pricing strategies and encourage listeners to share their experiences with the new fee structure and how they plan to adjust their selling practices. 00:00:00 Business Brain – The Entrepreneurs’ Podcast #588 for Wednesday, October 9th, 2024 00:01:00 October 9th: International Beer & Pizza Day Cafe Dell’Arte Chicken Parm Pepperoni Pizza 00:02:04 “We’re In Your Neighborhood” CBDfx.com 00:06:50 SPONSOR: Notion combines project management with your docs, knowledge base, and AI. You can try it for free today at Notion.com/businessbrain. 00:08:38 Just One More Poshmark’s fee changes (used to be 20%, now 6% plus additional) Fees calculated post-shipping and tax Shannon’s Poshmark Fees Post Reddit analysis of Poshmark’s new fees 00:16:36 BB 588 Outtro Subscribe to the show feedback@businessbrain.show Call/Text: (567) 274-6977 X/Twitter: @ShannonJean & @DaveHamilton, & @BizBrainShow LinkedIn: Shannon Jean, Dave Hamilton, & Business Brain Facebook: Dave Hamilton, Shannon Jean, & Business Brain The post In Your Neighborhood + Poshmark Fee Structure — Business Brain 588 appeared first on Business Brain - The Entrepreneurs' Podcast.