Author: Nicole Baldinu

How much is too much to reinvest? 

As the founder of a small business, you’re responsible for keeping your company in good financial health. You owe it to everyone on your team — and your customers — to keep the ship afloat. 

That’s why so many entrepreneurs pour every possible cent of profit right back into the business.

But is that sustainable? Is it smart?

Today, we’ll discuss what percentage of profits you should reinvest, and what other options you have. It can seem selfless to keep only a minimal share, but it can also hurt more than it helps — as Omar learned after years of paying himself less than everyone else on the team.

Tune in, and start thinking about what you owe…you! Click Play!

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NerdWallet

We all love nerding out. When it comes to personal finance, no one nerds out like the nerds at NerdWallet. NerdWallet makes even the most complicated money matters understandable for everyone. Their calculators and comparison tools help you understand your options, no matter what you’re trying to accomplish. For all your money questions, check out the expert advice at nerdwallet.com

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.

PayPal: is it a must?

PayPal used to dominate the cardless transaction world. Even now, it’s a popular choice for millions of consumers. But is it so popular that your small business has to offer it? Do people’s ideas about security and convenience dictate that only taking credit cards is a mistake?

It all depends.

It’s Q&A Wednesday, and we’re helping one listener decide whether to go through the effort of enabling PayPal payments. We’ll discuss the advantages and disadvantages of doing so, and what other options exist. 

Plus, what’s true about your business now might not be true later — and that includes payment processing.

Depending on your market (and whether you’re a B2C or B2B), the effort necessary to give customers the PayPal option may or may not be worth it. Let’s find out — Click Play!

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Capella University

Thinking about how you can make a greater impact in your profession, or in the world? When you’re ready to take the next step, Capella University has flexible doctoral programs that work with your schedule. Put your passion into action, and get the experience and skills you need to lead. Capella’s curriculum and learning format were created with flexibility in mind, to fit your life and schedule. Explore available programs and scholarship opportunities at capella.edu/doctorate

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

Onboarding: it’s not just for customers!

When you make a new hire, it’s your job to set them up for wins. So much time and effort is wasted by new employees when they aren’t quite sure how things really work, or when they’re trying to find their place in a new company culture. 

Here’s how to fix that.

Today, we share our system for bringing new hires into the fold. With a little extra support and attention, you can minimize the “getting settled in” phase and help employees hit the ground running. Plus, you can make them feel like a real part of the team almost immediately.

The result? Greater productivity and performance, sooner.

These tips work for businesses of all sizes — if you’re small, set this process up now. When you scale, you’ll be glad you did. Click Play!

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Today’s Sponsors

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.

Microsoft Teams

Welcome to the new way to work together. From group projects to weekly “all hands” meetings, Microsoft Teams will change the way you teamwork. Contribute to meetings from anywhere, chat with coworkers, find and edit files in real time, and more. With one place to create and make decisions together, there’s no limit to what your team can achieve. Learn more at microsoft.com/teams

This whole “laptop on the beach” thing…it’s BS, right?

Yes and no.

As independent entrepreneurs, we’ve often wondered what we’re doing wrong. We see these other founders globe-hopping, working out of Parisian cafes and beachside bungalows for a few hours before getting back to the “lifestyle” of many people’s dreams.

But it turns out there’s a little more to it.

Today, we discuss where the marketing ends and the reality begins. From 4-hour workweeks to “passive” income and more, the promise of a certain lifestyle is dangled in front of would-be entrepreneurs by coaches, authors, and other popular influencers. 

It’s not all smoke and mirrors. But everything has its tradeoffs. 

Life can’t be “hacked,” exactly. But it can be approached creatively, differently, and independently. Tune in, and hear some examples of true “lifestyle business” leaders, and why what works for them (and you, maybe) doesn’t work for everyone — including us. Click Play!

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Today’s Sponsors

Capella University

Thinking about how you can make a greater impact in your profession, or in the world? When you’re ready to take the next step, Capella University has flexible doctoral programs that work with your schedule. Put your passion into action, and get the experience and skills you need to lead. Capella’s curriculum and learning format were created with flexibility in mind, to fit your life and schedule. Explore available programs and scholarship opportunities at capella.edu/doctoral

Microsoft Teams

Welcome to the new way to work together. From group projects to weekly “all hands” meetings, Microsoft Teams will change the way you teamwork. Contribute to meetings from anywhere, chat with coworkers, find and edit files in real time, and more. With one place to create and make decisions together, there’s no limit to what your team can achieve. Learn more at microsoft.com/teams

Show Links

Fizzle

The 4 Hour Workweek by Tim Ferriss

EOFire

Wandering Aimfully

We’re all for affiliate marketing.

It’s one of the best ways to monetize your expertise, content, and following. It’s a fantastic passive(ish) revenue stream, whether you’re a full-time affiliate, a side hustler, or just someone who likes to share great products with people who would benefit from them.

But you can do it wrong. Way wrong.

Unfortunately, many people run into some common pitfalls —  and destroy their brand and reputation. By blindly chasing commissions, you run the risk of spending the “trust capital” you’ve earned, earning a little money but losing the faith of your audience.

Today, we’ll explore the 3 biggest ways in which affiliate marketers squander trust, cheapen their reputation, and lose business. While affiliate marketing is an undeniably great strategy, it’s one that requires careful attention to proper execution. 

Get your affiliate strategy right, and you’ll enjoy all the benefits without losing an ounce of credibility. Click Play!

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Exploding Topics Newsletter

Stay on top of what’s blowing up with the Exploding Topics Newsletter. It’s a super cool, free roundup of the week’s 5 biggest topics, with analysis and insights. You can use these topics to create blog posts, podcast eps, and more.  Slack, Apple, and Spotify use this clever strategy, and so can you! Just head to explodingtopicsnewsletter.com

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 out podia.com/mba now.

Market research: you’re lost without it. But some markets are easier to research than others.

It’s Q&A Wednesday, and we’ve got one listener in a very niche industry, unsure of where to turn for data to analyze. When you’re blazing your own trail, intel can be hard to find.

But it’s always there somewhere.

Today, we’ll discuss how to get the information you need to execute a business plan, no matter how specialized your industry is. From creating an accurate buyer persona to navigating pitfalls, we’re going beyond Google to get whatever facts you need.

Remember: entrepreneurship requires creativity!

When the answers you need aren’t in the usual places, that’s a good sign. It means you’re probably close to finding the Holy Grail of independent business: an underserved market with an unaddressed problem. 

And that’s a good problem to have. Click Play!

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Today’s Sponsors

Capella University

Thinking about how you can make a greater impact in your profession, or in the world? When you’re ready to take the next step, Capella University has flexible doctoral programs that work with your schedule. Put your passion into action, and get the experience and skills you need to lead. Capella’s curriculum and learning format were created with flexibility in mind, to fit your life and schedule. Explore available programs and scholarship opportunities at capella.edu/doctorate

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 out podia.com/mba now.