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MBA1271 What to Say To a Customer When You’ve Failed Them

It’s gonna happen. Whether it’s your fault or not, some customers will use your product and come away disappointed.

What matters is what you do next.

Customer satisfaction is your responsibility, even when dissatisfaction isn’t your fault. Planning in advance for how to address it can be the difference between a business that lasts and one that doesn’t. You’ve got to articulate your messaging ahead of time, so you can confront these failures head on.

When you approach dissatisfaction as your responsibility, you can turn it into an opportunity.

Today, we discuss how to own your shortcomings, and turn an unhappy customer into a source of growth. This can have a massive long-term impact on the development of your business, helping you win over dozens of customers for every one you lose.

With a healthy, proactive attitude towards failing customers, you can learn how best to delight them — and that’s worth more than any single cancellation. Click Play!

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MailChimp

Ready to grow your business? MailChimp is your all-in-one marketing platform. MailChimp lets you manage more of your marketing from one place, without all the extra tools. Market smarter and grow faster with one tool that helps you create, publish, manage, and measure multi-channel marketing campaigns. Let MailChimp help you market smarter — learn more at mailchimp.com

DoorDash

DoorDash connects you to all of your favorite restaurants in your city. Just use the DoorDash app to choose what you want to eat, and your Dasher will bring it right to you – wherever you are!

Our listeners can get $5 off their first order of $15 or more when they download the DoorDash app and enter promo code MBA.

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MBA1270 Q&A Wednesday: How much do I charge for my paid webinars?

You’ve used free webinars to build your audience and establish yourself as a trusted source of information. Now, you’re ready to take it to the next level and start charging.

It’s Q&A Wednesday, and one listener wants to know what a paid webinar should cost. Charging for webinars is a huge step forward, creating opportunities for more than just money. Real idea validation and the monetizing of your expertise can take you to the next level.

So what should it be worth for an attendee?

Today, we explain how different goals for your webinar will determine the price. We offer some examples, and discuss what factors to consider when establishing your baseline price. Whether you’re testing the waters of your own brand, or simply want to raise some dough, there’s a right price for your webinar. 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!

Kronos

Kronos is workforce innovation that works. Kronos puts HR, payroll, talent, and timekeeping on a single, cloud-based platform specially designed to give HR professionals supporting a blended workforce a whole new
level of confidence. Learn more at
kronos.com/hrswagger

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WebinarNinja

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MBA1269 Do The Price Increase Experiment

Are you charging enough?

Entrepreneurs can get a little nervous about raising prices. But there’s a way to find out how high you can go that’s low-risk, high-yield, and potentially eye-opening. If your business needs an influx of revenue, consider doing a little experiment in price increase.

We’ll show you how.

You might worry that an increase will scare customers off. But in our experience, you’re just as likely to be shocked at how little people care, if the value of the product is there. With our system, you can test the waters safely, and know quickly whether a given increase will help or hurt.

With a little courage, some data, and a willingness to trust that your customers believe in your product as much as you do, you can widen those profit margins. Today, we offer step-by-step instructions on increasing, testing, and making the final decision.

A modest increase will mean a lot more to you than your customers. See how by conducting this simple experiment. Click Play!

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Aspiration

Aspiration, a financial partner that puts you, your conscience and the planet first. Enjoy a two percent annual percentage yield, zero ATM fees, and the option to choose your own
monthly fee…even if it’s zero!

Download the Aspiration app to open an account today.

The Alternative Board

A membership to The Alternative Board (TAB) can make a huge difference for your business. TAB’s monthly meetings of local business leaders have been helping entrepreneurs for almost 30 years with sales, marketing, hiring, training, operations, and more. You can even get help building a strategic plan for your business, and one-on-one business coaching between meetings. Apply for FREE today to find out if there is a board seat available in your area. Head to thealternativeboard.com/MBA

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ProfitWell

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MBA1268 Must Read: Extreme Ownership by Jocko Willink

A business owner owns a business. A business leader owns its performance.

We can apply lessons from all avenues of life to business. The military is no exception. Jocko Willink is a decorated Navy SEAL from one of the elite group’s most honored units. After his service, he took what he learned in the field to the business world.

Willink’s latest book, Extreme Ownership, is all about building a high-performance team by taking ownership of everything that happens. That level of personal responsibility might seem intense, but the extremely high stakes of the SEAL life taught Willink that it’s the most effective approach.

Apply a little bit of military mindset to your business, and make yourself a better entrepreneur. From truly trusting your team to having the guts to abort a failing mission, you can take your ownership to the extreme. 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!

Capital One

With the Spark Cash card from Capital One, you earn unlimited 2% cash back on all  your business purchases. Think about it – unlimited 2% cash back on everything you buy for your business. That cash back can add up to thousands of dollars, which you can reinvest back into your business so you can keep growing. Imagine what unlimited 2% cash back could do for your business. Capital One: what’s in your wallet?

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WebinarNinja

Extreme Ownership by Jocko Willink

Jocko Podcast

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MBA1267 Why You Need To Keep Changing Your Friends + Free Ride Friday!

The company you keep affects the company you want to build.

Your friends make a difference. Before you balk at the title, this episode isn’t about growing a cold heart and forgetting about the people closest to you. It’s about making sure that the circles you spend your time in propel you forward, rather than hold you back.

Today, we’ll explain just how powerful the influence of your social circle is on your business success. As your business develops, so too should your social network widen — which means leaving some circles behind as you move towards your goals.

When you don’t make new friends along the way, you will stagnate. Tune in, and find out how to make the friends you need to keep progressing. Click Play!

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Excelsior

You constantly strive to transform your life. Excelsior College believes nothing is more transformative than education. Excelsior is a fully accredited, online, non-profit institution offering career-focused degree programs in Health Sciences, Cyber Security, Criminal Justice, Business and more. Excelsior’s programs give you the flexibility to earn your degree on your time — from wherever you are. Visit excelsior.edu/keeplearning to learn more.

Varidesk

Varidesk is the world’s leading standing desk solution, helping professionals maintain a healthy, active lifestyle in the office or at home. Varidesk converts any desk into a standing desk. Easily go from sitting to standing, increasing your productivity and focus. Varidesk comes with a 30-day risk-free guarantee, and there’s no assembly required. They also cover shipping both ways – if you don’t love it, they’ll pick it up! To learn more, visit vari.com/desks-and-tables/standing-desks to learn more.

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EasyCourse

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MBA1266 Should You Be Using a Chat Bot on Your Site?

Whether it’s marketing, sales, onboarding, or support, communication is key. Enter the chatbot, considered by many to be a communications shortcut for your website.

They’re ubiquitous now: those little bottom-right corner bubbles that offer to answer questions and otherwise help a visitor along their journey. Thing is, they’re not human. They’re AI, with varying levels of sophistication — and varying levels of usefulness.

Are they really that helpful? Or are they the online equivalent of those annoying automated phone menus that just tick people off when all they want to do is talk to a human being?

Today, we discuss the benefits — and limitations — of chatbots. We’ll explain how they can supplement (but not really replace) actual human customer service. Properly utilized, a good chatbot can take the load of your service team, and ultimately make them more effective.

Plus, we’ll make some specific recommendations as to software we like. Make sure your website’s chatbot is helpful, not annoying. 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!

MailChimp

Ready to grow your business? MailChimp is your all-in-one marketing platform. MailChimp lets you manage more of your marketing from one place, without all the extra tools. Market smarter and grow faster with one tool that helps you create, publish, manage, and measure multi-channel marketing campaigns. Let MailChimp help you market smarter — learn more at mailchimp.com

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Intercom

RightMessage

Drift

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MBA1265 Q&A Wednesday: What have been your biggest regrets in business?

“I wish I had done that differently.”

It’s a phrase any entrepreneur with any real experience has thought, or said, more than once. Independent business is all about screwing up, learning from it, and applying the lesson. Here at the $100 MBA, we are no exception.

It’s Q&A Wednesday, and one listener wants to know what our biggest regrets are from over 18 years in business. Most of those regrets — unsurprisingly — come from the early years. Perhaps more surprisingly, we don’t regret things we did, or even things we didn’t do.

We regret the things we didn’t do sooner.

Tune in, and learn what we would’ve started sooner, if we’d known any better. If you’re just getting started, see what you can take from our regrettable late starts. It just might inspire you to move more quickly than we did. Click Play!

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Today’s Sponsors

Excelsior

You constantly strive to transform your life. Excelsior College believes nothing is more transformative than education. Excelsior is a fully accredited, online, non-profit institution offering career-focused degree programs in Health Sciences, Cyber Security, Criminal Justice, Business and more. Excelsior’s programs give you the flexibility to earn your degree on your time — from wherever you are. Visit excelsior.edu/keeplearning to learn more.

Snowe

Everyone wants their home to look and feel great. Snowe makes it easy, with beautiful, functional, trend-proof pieces that last. Snowe offers luxury essentials for every room, minus the markup. They partner directly with craftsmen to make everything from sheets to robes to kitchenware. Find the home collection of your dreams, priced for your reality. Get $30 off your first purchase of $150 or more at snowehome.com/mba.