Author Archives: will

The Realities of Running a Business in 2017

TMBA396: The Realities of Running a Business in 2017

Date: 2017-07-06

Link: Tropical MBA

 

Tropical MBAIf you want to change your life–if you want to go from cubicle to wealthy–you need to seek out horizons and industries and places in the world that have a dynamic quality and are changing.

Take your skillsets you developed professionally and focus them on areas of growth.

It can still take a long time to make your business a reality.

It takes a long time to build anything that is sustainable.

The people that are going to win at the end of the day are the people that are going to keep coming back and doing the hard things.

It is harder than ever to hire A players.

If you don’t know about a functional area of your business it is easy for somebody to come in and BS you.

A superpower is something you get energy from or don’t get tired from.

Stick to your superpower and hire around yourself.

Find the thing you want to do–that gives you energy in life–and find a way to do it for other people.

Whatever you are doing for free you love and is likely one of your superpowers.

Don’t pigeonhole your superpower.

You need to have an interview process that digs into the past results of (the person you are interviewing). People talk a big game but you need answer, “Was this person responsible for big results in the past?”

There is a difference between being a founder and being an owner in a business.

Business is still in in-person relationships.

Should You Quit Full-Time Entrepreneurship?

TMBA395: Should You Quit Full-Time Entrepreneurship?

Date: 2017-06-29

Link: Tropical MBA

 

An online membership community is the holy grail of passive revenue.

When you are your own employer–when you are the master of your own destiny–when things don’t work out you have nobody to blame but yourself.

Just because somebody gets a job doesn’t mean they are going to do that for the rest of their life.

Don’t let your ego get in the way. Don’t let labels (job, entrepreneurship) get in the way.

There are plenty of business owners that don’t have an entrepreneurial bone in their body.

What Happened to Technorati?

TMBA394: What Happened to Technorati?

Date: 2017-06-22

Link: Tropical MBA

 

You will starve doing travel writing as a career.

When you can create revenue is solves a lot of problems and gets a lot of attention.

CEO is a really, really lonely job.

Raise your hand and take on the task that is not part of your job responsibility. You’ll get noticed and they will start coming to you with all of the hard tasks and challenging tasks. The next thing you know you will get promoted because you are the dependable one.

How to Pitch

TMBA393: How to Pitch

Date: 2017-06-15

Link: Tropical MBA

 

Tropical MBA(Open up your cold email) with an introduction and some social proof.

Be clear about what you want.

Pay attention to how (your recipient) operates.

If you are going (an email) pitch then imagine how successful you would be if you did it face to face.

Take the time to understand who you are talking to.

Don’t tell people why it is going to work–show them.

There is a virtue about being clear about what you want.

Understand relevance–understand your audience’s key triggers. Understand what part of their life or business you are intersecting with.

What is the key contraint your target is experiencing at that intersection?

Have respect.

Show appreciation.

Breaking Up is Hard to Do

TMBA391: Breaking Up is Hard to Do

Date: 2017-06-01

Link: Tropical MBA

 

It is really important to separate ownership from your role in the business.

A lot of the things that keep people on the same page are the random trivial moments–the spontaneous things that come up when you are around people a lot.

To launch a business that is scalable it is easier to do it with a partner.

Maintaining a relationship over the long haul is a big challenge.

There are a lot of things that are painful about running businesses.

How to Get Better at Sales

TMBA390: How to Get Better at Sales

Date: 2017-05-25

Link: Tropical MBA

 

Tropical MBASelling starts by communicating with people.

A lot of times if you are having a hard time selling something it is because the product is confusing and needs to be simplified.

The first question(s) when selling is what am I selling and how is it going to help people?

What you focus on the most becomes real to you.

Stop hanging out with Internet marketers.

The only way to do your value proposition is to think about what your client is going to get by delivering to their customer.

Increase your price 20% every time you make a pitch.

Make one appointment per day with your prospective market.

Make a direct offer to your market for your service that is relevant, provides a specific service with a benefit, that is time-sensitive, and has a level of scarcity.

Question 1: What do you want?

Question 2: Why is it important?

Question 3: What is stopping you?

Question 4: Here are a couple of things that might help. Which of these things do you think are a great idea?

Question 5: What is it worth to you?

Question 6: If I can show you an investment (or fee) that will make that pay for itself is it okay if I can show you how we can work together to put that into place?

Make an invoice go to the client that they need to pay to get started.

The two most common objections are, “I need to think about it” and “I don’t have the money.”

“I need to think about it” is a clarity issue.

Money should not be an obstacle. If people are committed to an idea enough they will find the money.

You are going to need to ask people on average seven times to make the purchasing decision.

How Can I Get Started on My Own Business?

TMBA389: TMBA Mailbag: How Can I Get Started on My Own Business?

Date: 2017-05-18

Link: Tropical MBA

 

Tropical MBAIf your goal is to develop a successful business then you need to develop habits that help you do that.

Can you consistently take action towards your goals? That is all that counts in business.

The clearest path to developing your own ideas is to go work for someone developing similar ideas.

A lot of the same problems that existed at your job still exist when you are an entrepreneur.

If you feel like you are missing a business idea what you are actually missing is relationships.

Some of the most successful people never went to school.

Do not give yourself any other option than to succeed. Keep that as your mindset.

You can’t make people take action.

Why We Need Strong Towns

TMBA388: Why We Need Strong Towns

Date: 2017-05-11

Link: Tropical MBA

 

Learning things you don’t know leads you to questioning things you do know.

When we build things now we do it on the back of debt. (for governments, for families, for future generations)

If your city is not growing you’re dying.

The investments that actually build wealth in a place are the ones that get to the core of quality of life.

The Art of Stress-Free Productivity

TMBA387: The Art of Stress-Free Productivity

Date: 2017-05-04

Link: Tropical MBA

 

Tropical MBAIt is very rare that you meet a successful person who doesn’t get a lot done.

We will be the first generation to be defined by what we say no to. (quote from Paul Graham)

Do 90-day sprints.

Don’t invest a bunch in something that is not going to work.

Book: The Twelve Week Year

A lot of the resistance to focusing on one thing is emotional.

Plan with goals. Build with habits.

It would be hard to make a thousand sales calls and not get decent at sales.

Organize your weeks with protected areas of deep work.

Use courage and wisdom, and not labor, to make money.