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MBA1585 Q&A Wednesday: How do I pivot my business without upsetting current customers?

You’ve gotta do what’s best for your business. But you also have to do what’s best for the customers — especially the ones who supported you early on..

What happens when those two principles conflict?

It’s Q&A Wednesday, and we’ve got a listener who wants to niche down their coaching business — which would mean leaving some happy clients behind. Can you do this without hurting your reputation and damaging the business you’re trying to grow?

Yes you can. We’ve done it. Omar’s changed businesses more than once in his entrepreneurial career. 

Today, we discuss how to do so in a way that’s forthright, ethical, and results in a net positive. Learn how to grow and evolve without alienating those who won’t be coming along for the entire ride. Click Play!

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Podia

Easily sell Online Courses, Memberships, and Digital Downloads to your audience. With more than 10,000 creators on the platform, Podia is the easiest way to earn a living teaching what you know. Create a beautiful storefront in minutes and start selling your digital products. No technical knowledge needed, and no third-party plugins required. Check oupodia.com/mba now.

WebinarNinja

Looking for an easy, intuitive webinar platform that gets out of your way? WebinarNinja is the most user-friendly webinar platform on the market. Best of all, it works! With built-in marketing tools like email automations, landing pages, and more, WebinarNinja is everything you need to run live, automated, or hybrid webinars. Sign up for a free live demonstration at webinarninja.com/workshop.

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MBA1584 Should You Outsource Your Paid Ad Marketing?

You’re ready to spend money on advertising.

The question is: do you know how to get the best results? And if not, should you learn, or should you put that advertising budget into the hands of a pro?

We had to ask ourselves those questions as our business grew. Paid advertising is complex, and only getting moreso. Whether it’s social media advertising, Google ads, or sponsoring things like podcasts, it’s…tricky.

So what’s a better investment: the time and money it takes to upskill yourself, or the cost of outside help?

Today, we’ll do the cost/benefit analysis on having someone handle your paid advertising. We’ve tried it every way, from learning the ropes and experimenting on our own, to trusting our money with experts in the industry. 

Hear what it can cost, what your options are, what we experienced, and what we recommend. Click Play!

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Today’s Sponsors

Podia

Easily sell Online Courses, Memberships, and Digital Downloads to your audience. With more than 10,000 creators on the platform, Podia is the easiest way to earn a living teaching what you know. Create a beautiful storefront in minutes and start selling your digital products. No technical knowledge needed, and no third-party plugins required. Check oupodia.com/mba now.

WebinarNinja

Looking for an easy, intuitive webinar platform that gets out of your way? WebinarNinja is the most user-friendly webinar platform on the market. Best of all, it works! With built-in marketing tools like email automations, landing pages, and more, WebinarNinja is everything you need to run live, automated, or hybrid webinars. Sign up for a free live demonstration at webinarninja.com/workshop.

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MBA1583 Must Read: How We Decide by Jonah Lehrer

Why did I do that?

It’s a question we don’t ask ourselves enough. As small business leaders and entrepreneurs, it’s crucial to understand the human decision-making process. This week, we take a look at a Must-Read that does exactly that.

Jonah Lehrer’s How We Decide challenges the myth of rational, logical, even self-serving decision-making. Instead, it delves into the emotional reasons we do what we do.

Understanding the emotional basis of our choices doesn’t mean we’re powerless to act rationally. In fact, by embracing it, we become better decision makers — and better business people. 

Tune in, and hear the most powerful insights from this thoroughly researched look at what makes us tick. Then, apply them to your business. Click Play

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Rutgers

Many graduate business programs are being converted to a remote version. But the Rutgers University Online Master of Science in Business Analytics program was built for online learning! As the fall deadline approaches, Rutgers School of Business has made things easier by waiving the GMAT requirement, as well as online class fees. Learn more about one of the hottest degrees in 2020 at go.rutgers.edu/podcast

WebinarNinja

Looking for an easy, intuitive webinar platform that gets out of your way? WebinarNinja is the most user-friendly webinar platform on the market. Best of all, it works! With built-in marketing tools like email automations, landing pages, and more, WebinarNinja is everything you need to run live, automated, or hybrid webinars. Sign up for a free live demonstration at webinarninja.com/workshop.

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MBA1582 Why Your Business Needs an Enemy + Free Ride Friday

Every brand needs a story.

Every story needs a hero.

And every hero needs a villain.

Don’t get us wrong; we’re not talking about “vilifying” the competition. We’re talking about differentiating. To build your brand’s narrative and stand out, you have to tell the world what you’re doing differently.

In other words, you need contrast.

Consumers are triggered to action by their “pain points,” the things that make doing whatever they want to do difficult or impossible. Whatever your competitors aren’t doing is the space your company fills. 

Lean into that. Celebrate it. Today, we’ll explore how. 

By choosing an “enemy” to contrast your company with, you show consumers what you’re really about. By opposing your brand to others, you avoid a “me too” mindset and focus on what makes your company truly special. 

Plus, it’s FREE RIDE FRIDAY!!! Click Play!

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Podcasting Master Class with Omar Zenhom

Ready to finally start that podcast? The $100 MBA Show has over 130 million downloads and mentions from Forbes, Inc, Time, and others. How’d we do it? In our live Podcasting Master Class, Omar will show you how to create and market a popular, business-changing podcast from scratch. We’re offering a huge discount for the first round of this intensive live workshop. Get your seat for $149 at 100mba.net/podcastingmasterclass

WebinarNinja

Looking for an easy, intuitive webinar platform that gets out of your way? WebinarNinja is the most user-friendly webinar platform on the market. Best of all, it works! With built-in marketing tools like email automations, landing pages, and more, WebinarNinja is everything you need to run live, automated, or hybrid webinars. Sign up for a free live demonstration at webinarninja.com/workshop.

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EasyCourse

Hey

Are Zoom Webinars…Webinars?

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MBA1581 How to Run a Paid Live Workshop or Course

Teaching, training, and coaching online: everybody’s doing it for a reason.

It’s one of the most profitable ways to monetize your expertise. But that comes with a downside — a ton of competition. 

With so many courses, webinars, and videos out there, how can you stand out?

Today, we’ll explain exactly how to set up your own paid, live workshop or course. We’ll discuss what tools to use, how to market it, and how to make it worth every cent. Specifically, we’ll explore why live courses are so much more valuable than the pre-recorded kind.

Whatever you have expertise in, your students are out there somewhere. Now more than ever, consumers are looking for ways to learn online. Get in on the action with a course that’s uniquely valuable. Click Play!

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Podcasting Master Class with Omar Zenhom

Ready to finally start that podcast? The $100 MBA Show has over 130 million downloads and mentions from Forbes, Inc, Time, and others. How’d we do it? In our live Podcasting Master Class, Omar will show you how to create and market a popular, business-changing podcast from scratch. We’re offering a huge discount for the first round of this intensive live workshop. Get your seat for $149 at 100mba.net/podcastingmasterclass

99 Designs

Need a new logo, website, app design, or even print materials? You can hire a single freelancer, or you can go to 99 Designs, where hundreds of designers submit their proposals for you to choose from — and you only pay for the one you love most. Give yourself more options, and save time looking for the right hire: go to 99designs.com/100mba and get a $99 upgrade to your first “contest!”

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MBA1580 Q&A Wednesday: What’s a good email open rate for my business?

*Checks notes*

Yep, the money’s still in the list. 

Email is everything when it comes to marketing. It’s the #1 way to nurture leads, and move them closer to becoming customers. But how do you know if you’re…y’know, doing it right? How do you measure the success (or failure) of your email campaigns?

Open and click rates, of course.

It’s Q&A Wednesday, and we’ve got one listener who isn’t quite sure what a “good” open rate is. Spoiler alert: most of your emails won’t get opened. But there are industry standards, benchmarks you can work towards as you grow your business.

Today, we’ll discuss the two big email metrics, what numbers you should shoot for, and what factors affect those numbers. 

With reliably sourced data, we’ll explore the marketer’s never-ending quest to get those emails opened, read, and clicked. Click Play!

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Today’s Sponsors

Podcasting Master Class with Omar Zenhom

Ready to finally start that podcast? The $100 MBA Show has over 130 million downloads and mentions from Forbes, Inc, Time, and others. How’d we do it? In our live Podcasting Master Class, Omar will show you how to create and market a popular, business-changing podcast from scratch. We’re offering a huge discount for the first round of this intensive live workshop. Get your seat for $149 at 100mba.net/podcastingmasterclass

Zendesk

Things are a little weird right now. Zendesk is here to help, with a 6-month complimentary remote support bundle that helps teams keep up with changing customer demand. The bundle comes with essential tools your team needs to remain agile and stay connected with customers. Zendesk takes hours (not weeks) to set up and get running. Their support, sales, and customer engagement software is quick to implement and easily scales to meet changing needs. To find out more, go to zendesk.com/mba

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Campaign Monitor Email Benchmarks

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MBA1579 Lessons Learned From Basecamp’s “Hey” Launch

Want to innovate your marketing? Study marketing innovation.

That’s what we’ve been doing, as we followed the launch of Hey, a new take on email from the guys who created Basecamp.

And no — we’re not affiliated with Hey in any way. 

We just paid close attention to Hey’s pre-launch marketing strategy, and felt compelled to share it with you. We’re not discussing Hey as a product. We’re discussing what made Hey’s marketing campaigns so creative, original, and effective.

It’s enough to make you believe they really can take on Gmail.

Hey’s launch proves that there’s always a new niche, a new way to approach even the most crowded industries. By daring to differentiate, Hey attracted, nurtured, and converted new legions of fans — even as they navigated unexpected roadblocks.

What can you learn from Hey? Click Play!

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Today’s Sponsors

Podcasting Master Class with Omar Zenhom

Ready to finally start that podcast? The $100 MBA Show has over 130 million downloads and mentions from Forbes, Inc, Time, and others. How’d we do it? In our live Podcasting Master Class, Omar will show you how to create and market a popular, business-changing podcast from scratch. We’re offering a huge discount for the first round of this intensive live workshop. Get your seat for $149 at 100mba.net/podcastingmasterclass

WebinarNinja

Looking for an easy, intuitive webinar platform that gets out of your way? WebinarNinja is the most user-friendly webinar platform on the market. Best of all, it works! With built-in marketing tools like email automations, landing pages, and more, WebinarNinja is everything you need to run live, automated, or hybrid webinars. Sign up for a free live demonstration at webinarninja.com/workshop.

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HEY