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MBA2078 Guest Teacher – Jon Ostenson – How to Select a Franchise

You don’t have to start your own business to run your own business.

Franchising is a viable, lower-risk way to get your entrepreneurship on. Instead of building something from the ground up, you can take ownership of an existing, proven business. 

It may not be entirely “yours,” but a franchise is yours enough to provide the flexibility, autonomy, and financial benefits of independent business. But of course, you have to find the right franchise for you and your specific needs and goals.

Fortunately, we have an expert to help with that.

Jon Ostenson is a franchise pro, with deep experience with franchises in almost every imaginable industry (that’s right, franchising isn’t just for food vendors). Today, Jon explains how to get into this lucrative model — and how to pick a business based on its proven potential for success.

Learn how to choose a franchise that offers you the profits (and lifestyle) you want. Click Play!

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Today’s Sponsors

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.

NetSuite

There are two kinds of CFO. One is struggling to keep up; spreadsheets everywhere, manual processes, errors, and lack of visibility into the numbers. The other is on top of their game; automated reports; inventory, ecommerce and HR flowing into the financial model seamlessly, and insights coming at the click of a button. That’s NetSuite, the#1 cloud financial system that has everything you need to grow. With visibility and control of your financials, inventory, HR, planning, budgeting, and more, NetSuite lets you automate processes and close your books in no time. Head to NetSuite.com/MBA for a one-of-a-kind financing offer!

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FranBridge Consulting

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MBA2077 5 Strategies for a Successful Launch on Product Hunt + Free Ride Friday

Got a digital product to sell? Get it on Product Hunt.

Product Hunt is a wildly popular, seriously trusted resource where real consumers share their thoughts on everything from apps to websites to tech hardware. If you can make a splash there, you can build a customer base.

…but of course, you have to know how to stand out.

With countless products up for review, it can be a real challenge to rise to the top, or snag the game-changing “Product of the Day” designation. Today, we share 5 ways to get your product some attention, create engagement in the Product Hunt community, and capitalize.

Naturally, we put our own products on Product Hunt, including our webinar SaaS. Learn how we approach this unique site, and how you can get its influential community behind your next product. 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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Product Hunt

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About Omar Show

MBA2076 Is Selling a Lifetime Deal a Good Idea?

Lifetime deals are the ultimate long-term sales tactic. But can the sales you score now hurt your business years (or decades) later?

Like any strategy, offering neverending deals has its strengths and weaknesses. 

We know — we’ve done lifetime deals for our SaaS company, some of which panned out better than others. If you don’t carefully weigh all the variables, your lifetime deal can be a lifetime drag on your bottom line! 

Today, we explain exactly what to avoid if you’re considering a lifetime offer, so you reap the benefits without hurting yourself down the road. 

With examples from businesses that execute this strategy well (plus our own experience), this episode offers a clearer picture of how the lifetime approach works, and why it’s so easy for it to backfire. 

Take a beat, run the numbers, and make sure that if you make a lifetime commitment, it’s one you won’t regret. 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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Wandering Aimfully

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MBA2075 Q&A Wednesday: Why is my sales funnel not working?

There’s a flaw in the “funnel” approach.

It’s not that marketing and sales funnels don’t work generally, or that they’re not useful. It’s that funnels can only do so much. 

With packaged funnel-building programs and software making big promises, it’s easy to think funnels are more powerful than they really are. Can you really set up a few assets, sit back, and watch the conversions roll in? Not exactly. 

It’s Q&A Wednesday, and we’ve got a listener who bet their chips on a funnel software, only to make exactly zero sales. 

It’s not for lack of effort, but something is clearly not working. Why not? Today, we get back to basics, and unpack what sales funnels can’t do. Over-reliance on clever conversion schemes can take your focus away from the fundamentals of good business. 

By putting first things first, you can make your funnels work better. Learn how the rest of your business can support your funnel — not the other way around.  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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MBA2074 4 Cold Emailing Tips if You Hate Cold Emailing

Cold emailing works — just maybe not the way you think it does.

Sending an unsolicited message to a complete stranger is…awkward at best. But ask any successful independent business founder, and you’ll find that it’s almost unavoidable.

Creating a stronger network (and a stronger business) means you can’t be afraid to reach out, even when it’s downright uncomfortable. You have to power through the awkwardness to get results! 

But first, you can take a few steps to raise your odds of success.

Today, we share 4 things that make our cold emails work more often. Note we said “more often,” not always. Yes, you will be ignored. Yes, you will be rejected. But not every time. 

It’s a simple matter of doing everything you can to improve your stats, and realizing that even one successful cold email can be worth a dozen fails. Tune in, and learn how a few consistent practices can make your cold emails a little warmer. 

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.

Shopify

Supercharge your knowledge, sales, and success with Shopify: the all-in-one commerce platform to start, run, and grow your business. Shopify gives entrepreneurs the resources once reserved for big business, so start-ups and scale-ups can sell everywhere, synchronize online and in-person sales, and stay informed. Reach customers across social networks with an ever-growing suite of channel integrations and apps — including Facebook, Instagram, TikTok, Pinterest, and more. Plus, gain insights with detailed reporting on conversion rates, profit margins and beyond. Head to shopify.com/mba for a free 14-day trial.

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About Omar Show

MBA2073 Must Read: Price for Growth by Jeff Robinson

Are you charging too much?

Most small business advice encourages higher prices for higher profits. But the somewhat controversial Price for Growth goes against that grain, suggesting entrepreneurs should play a longer game — even at the expense of profit.

And frankly, we’re convinced.

Jeff Robinson’s book flies further under the radar than it should. Today, we unpack its growth-centric pricing model, and share the philosophy behind the strategy. This isn’t abstract stuff; this book’s argument is so well-conceived that it led to a significant decision re: pricing in our own software company. 

There’s a sweet spot between low-balling yourself out of business, and strategically sacrificing profit for long-term customer loyalty. Hear about this book, and decide if that approach is right for you. Click Play!

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Today’s Sponsors

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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Price for Growth by Jeff Robinson

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About Omar Show

MBA2072 How to Segment Your Email List to Improve Conversions + Free Ride Friday

If you’re not segmenting, you’re not email marketing.

The first rule of marketing is that you can’t say the same thing to everyone. As much as possible, you have to appeal to individuals. If you’re sending the same exact messages to your whole contact list, you’re leaving leads on the table.

In fact, the fewer segments you have, the less effective your emails will be.

Today, we share an easy way to segment your email list, so you can start writing to people based on their needs and interests. No matter what email marketing software you use, follow our step-by-step instructions to set up your basic segments — then, speak to each separately.

If it sounds simple, it is! Segmenting is a fundamental part of successful email marketing. With a little time and effort, you can improve open rates, click rates, and (you guessed it) sales. 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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EasyCourse