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MBA2085 Q&A Wednesday: How Much Should I Charge for Group Coaching?

This isn’t the question you think it is.

Normally, pricing coaching comes down to a fairly standard formula. You determine how much a client stands to make based on your training, and set your price at about a fraction of that. “For just $XXXX, you can be qualified to charge $XXXXXX!” 

But what if your potential clients stand to make…nothing from your training?

It’s Q&A Wednesday, and we’re helping a listener who coaches photographers. But here’s the twist: the audience isn’t aspiring pros who want to create income. It’s hobbyists, people who want to take pictures just for the fun and enjoyment of it.

So what the heck is that kind of training worth?

Today, we help you put a dollar value on skills that don’t have a dollar value. Hear why coaching people in their passion projects can still be lucrative — and why it’s worth every cent to your non-pro clients. Click Play!

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SYFOB

Learn how to start your own business online, from scratch — without taking dangerous risks or sinking yourself into debt. This 10-part audio course lays out a complete roadmap for producing your first products and getting your brand off the ground. Get a special extended free trial of Himalaya Learning, an audio education platform with lessons from Tim Ferriss, Malcolm Gladwell, Omar, and more — just go to himalaya.com/mba and use promo code MBA.

WebinarNinja

Share what you know, and grow your business — the easy way. WebinarNinja lets you teach, market, and sell with the user-friendliest webinar software ever created. With built-in features like automated emails, an easy landing page builder, and more, it’s never been easier to connect with your audience. Best of all,  WebinarNinja comes with a FREE 14-day trial so you can see if  it’s a good fit for you, risk free. Head to webinarninja.com and use promo code MBA for 15% off your first month or year.

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MBA2084 How To Deal With Free Trial & Refund Abuse

Risk reversal is a must for most products and services. But inevitably, someone tries to turn a fair shake into a ploy for free stuff — at your expense.

So how can you prevent someone from using your free trial offer as a way to get…more than a trial?

Today, we share all the ways we make sure that our free trial is used for its intended purpose: to give people a risk-free way to confirm their choice. By digging into the data, and seeing how (and how often) people abuse your refund policy, you can take proactive steps to prevent it.

Here’s the good news: you might be shocked at how rarely people pull this kind of stunt. 

That said, someone, somewhere will eventually try to rip you off by taking advantage of your policies. Put a stop to it before it starts. Click Play!

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SYFOB

Learn how to start your own business online, from scratch — without taking dangerous risks or sinking yourself into debt. This 10-part audio course lays out a complete roadmap for producing your first products and getting your brand off the ground. Get a special extended free trial of Himalaya Learning, an audio education platform with lessons from Tim Ferriss, Malcolm Gladwell, Omar, and more — just go to himalaya.com/mba and use promo code MBA.

Capella University

At Capella University, you’re in control of your education. With the game-changing FlexPath format, you can take classes at your own pace, set your own deadlines, and even leverage your previous experience to move faster. And the faster you move, the more you’ll save. Now THAT’s smart. Learn more at capella.edu.

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MBA2083 Guest Teacher – Chloe Thomas – How to Build Your Customer Masterplan

Your customers are out there…somewhere. You just have to give them a path to your door. 

The art of creating and converting leads takes practice, experimentation, and (of course) a plan. Today’s special guest teacher is an expert at identifying, attracting, and winning over the people who are the best fit for your product or service. 

Chloe Thomas is a renowned consultant, speaker, author, and expert in e-commerce — but the customer acquisition plan she shares today can work for any kind of business.

Join Chloe for a marketing-focused look at how to create and optimize a path for potential customers. One step at a time, you can build a series of “lily pads” that lead to sales — and prioritize the traffic most likely to convert.

Get the notepad out for this one, and be sure to check out the special free resources Chloe offers to our listeners. Click Play!

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Capital One Spark

With the Spark Cash Plus card from Capital One, you earn unlimited 2% cash back on every purchase. There’s no preset spending limit, so your purchasing power can adapt to meet your business needs. Antonelli’s Cheese Shop in Austin, Texas used their 2% cash back to help cover their employees’ healthcare costs — imagine what the Spark Cash Plus card from Capital One could do for your business! Capital One: What’s in your wallet? Terms and conditions apply. Find out more at CapitalOne.com/SparkCashPlus.

WebinarNinja

Share what you know, and grow your business — the easy way. WebinarNinja lets you teach, market, and sell with the user-friendliest webinar software ever created. With built-in features like automated emails, an easy landing page builder, and more, it’s never been easier to connect with your audience. Best of all,  WebinarNinja comes with a FREE 14-day trial so you can see if  it’s a good fit for you, risk free. Head to webinarninja.com and use promo code MBA for 15% off your first month or year.

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eCommerce Master Plan (Free Resources for $100 MBA Listeners)

eCommerce Master Plan Podcast

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eCommerce Marketing: How to Get Traffic That Buys to Your Website by Chloe Thomas

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MBA2082 How to Stop Wasting Money on Marketing That Doesn’t Work + Free Ride Friday

For a small business trying to build a following, every cent counts. 

Too much of marketing seems like magic, or hack-based advice that makes empty promises of results if you just do x, y, or z. The reality is much more fluid, and requires you to be very careful with your marketing dollars. 

Today, we share what we know to be true about marketing fails — based on our own failures.

These are the marketing truths we wish we’d known from the beginning, but can only be learned the hard way. In this episode, we discuss how not to spend your marketing budget, but also where and when to spend more for better results.

By sticking to some tried-and-true fundamentals, you can forget the hacks and start building real marketing momentum — the kind that self-reinforces and multiplies over time. Your business can’t be “lean” if you throw the marketing budget into the wind. 

Click Play!

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SYFOB

Learn how to start your own business online, from scratch — without taking dangerous risks or sinking yourself into debt. This 10-part audio course lays out a complete roadmap for producing your first products and getting your brand off the ground. Get a special extended free trial of Himalaya Learning, an audio education platform with lessons from Tim Ferriss, Malcolm Gladwell, Omar, and more — just go to himalaya.com/mba and use promo code MBA.

WebinarNinja

Share what you know, and grow your business — the easy way. WebinarNinja lets you teach, market, and sell with the user-friendliest webinar software ever created. With built-in features like automated emails, an easy landing page builder, and more, it’s never been easier to connect with your audience. Best of all,  WebinarNinja comes with a FREE 14-day trial so you can see if  it’s a good fit for you, risk free. Head to webinarninja.com and use promo code MBA for 15% off your first month or year.

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EasyCourse

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MBA2081 How to Prepare For a Recession

There’s a storm coming.

But it’s not time to batten down the hatches and head for the cellar just yet. With a recession on the way, it’s definitely time to prepare — but not to duck and cover.

Today, we discuss how to minimize the damage our impending recession will do to your business. But more importantly, we explain how to take advantage of the recession to position yourself for greater success in the long term.

Recessions happen. You don’t fight the cycle; you ride it.

No period of economic growth carries on forever. The swings are the only constant. Businesses that endure and thrive don’t depend on a good overall economy; they make the most of the market they’re in. In this episode, we explain how.

Zip up your raincoat and face the storm with confidence. Click Play!

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SYFOB

Learn how to start your own business online, from scratch — without taking dangerous risks or sinking yourself into debt. This 10-part audio course lays out a complete roadmap for producing your first products and getting your brand off the ground. Get a special extended free trial of Himalaya Learning, an audio education platform with lessons from Tim Ferriss, Malcolm Gladwell, Omar, and more — just go to himalaya.com/mba and use promo code MBA.

WebinarNinja

Share what you know, and grow your business — the easy way. WebinarNinja lets you teach, market, and sell with the user-friendliest webinar software ever created. With built-in features like automated emails, an easy landing page builder, and more, it’s never been easier to connect with your audience. Best of all,  WebinarNinja comes with a FREE 14-day trial so you can see if  it’s a good fit for you, risk free. Head to webinarninja.com and use promo code MBA for 15% off your first month or year.

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MBA2080 Q&A Wednesday: Do I need to quit my job to see my startup succeed?

It’s the classic conundrum for aspiring entrepreneurs: can I build a truly successful business without ditching the 9 to 5?

It’s Q&A Wednesday, and we’ve got a listener who’s caught between the safety of a regular paycheck, and the promise of independence. 

Their side-hustle is established, but its growth is held back by the demands of a conventional job. Is it possible to reach “escape velocity” while holding down a regular gig? Can you only quit once your business is thriving enough to support you, or is thriving only possible after you quit?

The answer may vary, depending on what kind of business you’re building.

Today, we lay out the path from regular job, to side-hustle, to full-blown entrepreneurship. By meeting certain benchmarks (and being ready to cut certain expenses), you can make a relatively safe transition. 

How long it takes is subject to variable, which we’ll explore. Get the basic breakdown of what needs to happen before you hand in that resignation, and how long it should take. Click Play!

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Today’s Sponsors

SYFOB

Learn how to start your own business online, from scratch — without taking dangerous risks or sinking yourself into debt. This 10-part audio course lays out a complete roadmap for producing your first products and getting your brand off the ground. Get a special extended free trial of Himalaya Learning, an audio education platform with lessons from Tim Ferriss, Malcolm Gladwell, Omar, and more — just go to himalaya.com/mba and use promo code MBA.

WebinarNinja

Share what you know, and grow your business — the easy way. WebinarNinja lets you teach, market, and sell with the user-friendliest webinar software ever created. With built-in features like automated emails, an easy landing page builder, and more, it’s never been easier to connect with your audience. Best of all,  WebinarNinja comes with a FREE 14-day trial so you can see if  it’s a good fit for you, risk free. Head to webinarninja.com and use promo code MBA for 15% off your first month or year.

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MBA2079 Should You Give Up Equity to Attract Talent?

What’s top talent really worth? Is it worth giving up a piece of your business?

Offering equity can be a smart move. But too many entrepreneurs do it when they think they have to, rather than investigating whether it’s prudent. 

If you can’t afford a salary that’s tempting enough to assemble the best team, it might be wiser to step back and retool, rather than bet the farm on someone (or several someones) who might not be the answer to all your challenges. 

Also, there are performance-based alternatives that incentivize great work — without risking profits you haven’t created.

All that doesn’t mean you should never share equity with the right team members. Today, we explore the risks and advantages of equity-sharing, and help you decide whether it makes sense for your business. 

The decision is ultimately yours — but it’s never good to go in blind. Tune in, and weigh the options. Click Play!

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Today’s Sponsors

SYFOB

Learn how to start your own business online, from scratch — without taking dangerous risks or sinking yourself into debt. This 10-part audio course lays out a complete roadmap for producing your first products and getting your brand off the ground. Get a special extended free trial of Himalaya Learning, an audio education platform with lessons from Tim Ferriss, Malcolm Gladwell, Omar, and more — just go to himalaya.com/mba and use promo code MBA.

WebinarNinja

Share what you know, and grow your business — the easy way. WebinarNinja lets you teach, market, and sell with the user-friendliest webinar software ever created. With built-in features like automated emails, an easy landing page builder, and more, it’s never been easier to connect with your audience. Best of all,  WebinarNinja comes with a FREE 14-day trial so you can see if  it’s a good fit for you, risk free. Head to webinarninja.com and use promo code MBA for 15% off your first month or year.