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MBA2286 Q&A Wednesday: When should I secure funding for my business?

So you’re starting a business, and you’ll need some outside investment to really make it work. Where to seek funding is one problem — but just as important is when to seek funding.

Timing is everything when you’re asking for money!

No matter who the funding source is, you’ll have to convince them that you’re a good investment. And you can’t do that until you’ve gathered enough hard evidence that your product, systems, and team are viable. And that takes time.

But how much?

It’s Q&A Wednesday, and we’re helping one listener figure out when to start shopping for funding. By getting the timing right, you can not only increase your odds of hearing a “yes,” you can actually create more favorable terms. 

Learn what you should have in place before you seek funding, and why a little patience can pay off in a very big way. Click Play!

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MBA2285 What Went Wrong & Right With Our Team Retreat

Yes, even startups and small businesses can have incredible team retreats. In fact, it’s more fun with a smaller, tight-knit team — especially when that team is remote and doesn’t get much face-time.

Of course, not everything will go perfectly.

Today, we share lessons learned from our most recent team getaway. We invited our engineering, marketing, design, and other pros from around the globe to finally see each other in person, having lost that opportunity to COVID for so many years.

And it was awesome…except when it wasn’t.

If you’re considering bringing your team on a retreat (and you should), listen to this episode first. You’ll learn what can go sideways, as well as what makes a retreat a truly memorable bonding experience. 

Whether you’re looking to give your team some R&R, accomplish some work goals that are better achieved in person, or some combination of both, a great retreat can’t be beat. 

Take a lesson or two from our experience — Click Play!

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Today’s Sponsors

Time Doctor

Ready to get the most out of your remote team? Join the incredible businesses (including ours) that are using Time Doctor to figure out how much time tasks and projects take, and using those insights to optimize workflows and get more done — without sacrificing quality. Learn more and get started at timedoctor.com.

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MBA2284 Must Read: Four Thousand Weeks by Oliver Burkeman

How much time do you really have? It’s easy to say “life is short.” But if you really look closely at the numbers, it’s shorter than you might realize. And all the “productivity” in the world can’t change that.

That’s the premise of today’s Must-Read book for entrepreneurs: Four Thousand Weeks.

Yep, that’s about how many weeks most people (in industrialized nations) get before they kick the bucket. Much of it is already gone by the time most of us decide to start a business!

Mountains of advice and products are designed to increase productivity, and promise a way to get more out of every precious week. But what if this approach is all wrong? What if the key isn’t trying to do more, but in embracing mortality and focusing on what matters?

How much do you really need to “get done”…before life is done?

It’s a challenging, scary fact to confront. But it’s a fact nonetheless, and being mindful of it can change the way you approach building your business. It’s too easy to get lost in the “to do’s,” as your 4,000 weeks slip by.

Get a fresh, more brave perspective on constructing your own life and work. Hear the top takeaways from this eye-opener, and how it might apply to your entrepreneurial journey. Click Play!

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Four Thousand Weeks by Oliver Burkeman

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MBA2283 Why You Are Not Getting Any Traction + Free Ride Friday

You’ve launched — but your business just can’t seem to get anywhere. Why? What makes some businesses grow steadily (or suddenly), while others just get stuck on the ol’ hamster wheel? 

Today, we diagnose the problem.

In this episode, we’ll explore what exactly creates that all-important traction, and allows new companies to reach “escape velocity,” a.k.a. the point at which you break through the invisible barrier, and your expenditure of energy isn’t the only thing moving you forward. 

Y’know…like a rocketship.

It’s the difference between pushing the boulder uphill, and simply guiding it while it rolls downhill. Need another analogy? No, you don’t! What you need are actionable strategies to get your new business its first few wins, so success becomes a self-perpetuating cycle.

Long story short, it comes down to concentration and focus. Applied strategically and consistently for a certain amount of time, your business will develop some momentum. Then, the fun begins. Click Play!

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The $100 MBA Live

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MBA2282 Are You Thinking Big Enough?

If you think the sky’s the limit, you’re forgetting what’s beyond the sky. Too often, entrepreneurs are held back not by market forces or competition, but by self-limiting beliefs. 

So how big can you really go? And how do you define “big” anyway?

This episode isn’t a hollow pep talk. It’s about realizing that when you create your own future by starting your own business, you get to decide for yourself what’s possible. With real-world examples, we’ll explain how no matter how small you start, success can compound.

This applies to our own business, too.

It’s not that you have to set unrealistic goals or risk losing a good thing to shoot for a great thing. But if you stay open to incredible, seriously life-changing possibilities, you’ll ensure that your business doesn’t underachieve. 

Learn how to think bigger, and why you should. Click Play!

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Ramit Sethi

Jordan Harbinger

WebinarNinja on YouTube

Profitwell

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MBA2281 Q&A Wednesday: Is it better to hire full time or part time employees?

For new and small businesses, every cent you spend on employee compensation counts. So are you getting more bang for your buck when you hire part-time, or full-time? 

The answer — as is often the case in business — depends.

It’s Q&A Wednesday, and we’re helping a listener with a growing business spend his payroll dollars wisely. They know they need to build a team in order to reach the next level, but the budget requires some tough choices. Where’s the most value for money?

Hint: it has more to do with how the employee works than how much. 

Learn what factors you should consider when choosing between full and part-time hires. As a company that’s hired both — and had good and bad results both ways — we know what can go right (and wrong) with each. 

Tune in, hear what’s worked for us, and make the choice that best serves your business. Click Play!

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MBA2280 How to Deal With Everyday Stress in Your Business

Stress is like an anchor. It weighs you down, and holds you back. It does the same to your business, as stress makes you a less effective and efficient leader. So what can you do about it?

And by the way, we’re not talking about big stress, like you get in response to a rare crisis or major catastrophe. 

We’re talking about the basic, everyday stresses that any entrepreneur experiences, no matter how well their business does. It’s simply unavoidable: things will not always go your way. With the stakes high, that means basic stress management isn’t a luxury. It’s a priority.

Today, we share the most common forms of everyday business stress — and how to deal with each.

Learn what most often induces low-grade stress, and the simple practices that help you get better at navigating it. Developing resilience is like developing strength or stamina or any other ability. You have to put in a little work every day. 

Fortunately, everyday stress will give you that opportunity. Learn how to take advantage of it, and become a better emotionally equipped entrepreneur. Click Play!

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Today’s Sponsors

Time Doctor

Ready to get the most out of your remote team? Join the incredible businesses (including ours) that are using Time Doctor to figure out how much time tasks and projects take, and using those insights to optimize workflows and get more done — without sacrificing quality. Learn more and get started at timedoctor.com.

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Book Yourself Solid by Michael Port