Business Brain – The Entrepreneurs’ Podcast

Longtime listeners of the Small Business Show know that we embrace optimism with a passion. However, today we’re talking about failure. Specifically, why Small Businesses fail and how to avoid it. Dave and Shannon jump right into today’s Small Business Show with a discussion of your ROE, or Return on Energy for projects within your business, or new ideas that may not make you a profit, but can make you a better person and help to increase your energy levels throughout your Revenue Stack. Then, it’s on to a detailed discussion of a report published by Small Business Trends that focuses on why businesses fail. The great news is that there’s never been a better time to start a new business, however, studies show that about half of all Small Businesses will fail within the first 5-years. Half! We think that number is much too high, so we’re digging into this report to help you avoid the pitfalls of the “other” 50% of Small Business owners that won’t make it to their 6th anniversary. Listen in to episode 126 of the Small Business Show to learn how to adapt, how to change, when it’s time to trust your gut and how to build a culture of change within your company. Join us, then click over to the Small Business Show Support Group to share your comments! Chapters/Timestamps 00:00:00 Small Business Show #126 July 5, 2017 00:00:54 Small Business Support Group 00:01:10 “Return on Energy” – ROE 00:03:16 Always chasing $100 bills 00:04:05 Half of all Small Businesses Fail Within 5 Years 00:05:00 Restaurants do not fail more than other businesses 00:05:47 Don’t make assumptions that customers aren’t going to like your product 00:06:30 If you’re not adapting, you’re failing 00:08:03 You’re making a choice not to change, too. 00:08:47 Trusting your gut 00:11:36 Building a culture of change 00:13:30 A Players hire A Players… B Players hire C Players But if an employee can’t adapt, you need to leave them behind 00:17:21 Transparency with your employees 00:19:17 99.7% of all businesses in the US are “small” 00:20:50 Only 19% are outcompeted Rework Make your customer experience unbelievable! Cash is King 00:24:33 P&Ls are living documents 00:25:10 Don’t ignore your customers 00:26:40 Listen to your customers 00:36:53 SBS Outtro The post How to keep your Small Business from joining the 50% of companies that fail within 5-years. Small Business Show episode 126 appeared first on Business Brain - The Entrepreneurs' Podcast.

Virtual Reality and Augmented Reality are popular buzzwords we read and hear about a lot these days. Much of it sounds like it “will be” great someday, but what about Small Businesses that are in the VR/AR space and creating businesses TODAY? Joining us for episode 125 of the Small Business Show is Chase Dittmer and TJ Dishaw, co-founders of GrowpoVR Studios and GovRed. GrowpoVR began as an arcade/studio business, offering up VR experiences for consumers. When Chase and TJ noticed lots of Police officers using the equipment, they quickly realized there was an underserved demographic, so of course, they launched a new business, GoVRed to focus on military and government agency VR use. During the show, we also got a chance to learn about the Iowa Startup Accelerator and how GoVRed became a part of this 12-month startup program. We discussed how the business incubator provides support for design and engineering as well as legal and marketing areas. The co-founders discuss how their youth has been a benefit as well as a challenge when developing their business and meeting new customers. One thing is for sure, there’s no lack of enthusiasm from either Chase or TJ. Listen in to this episode of the Small Business Show to learn about their *fast* journey, the problems they have faced and how they are making changes to their “virtual” business plan almost daily as they bring their new business to fruition. After the show, be sure to join us at the Small Business Support Group on Facebook to share YOUR story!   Chapters/Timestamps 00:00:00 Small Business Show #125 June 28, 2017 00:01:19 Chase Dittmer and TJ Dishaw – GrowpoVR Virtual Reality Studio and Govred Starting with the iPhone… of course 00:02:36 Having the right tech means… a partnership was born! 00:04:28 VR Arcade…to the military! 00:05:44 Attracting the Military with Facebook 00:07:08 Beware of being tied to your business plan 00:07:26 Iowa Startup Accelerator Accelerator provides Legal, Marketing, Design, Engineering Clerky 00:09:45 Don’t make assumptions about your customers 00:11:47 Make your mentors be mean… or at least honest 00:13:28 Age as a benefit as well as a negative. 00:15:01 Use your product to sell yourself 00:16:15 Be ready to move! 00:18:00 Support your family, even when they’re crazy 00:19:56 VR for your ice cream store 00:21:07 VR/AR to enhance any business 00:22:27 Use Vive for your Meetings 00:24:58 HoloLens is Fake AR – more of a 360 viewer 00:27:03 Learn about Govred, Chase and TJ 00:28:25 GG Outtro The post Small Business Interview with co-founders of GrowpoVR and GoVRed – Small Business Show episode 125 appeared first on Business Brain - The Entrepreneurs' Podcast.

You know the name, you’ve accepted the payment method. But, did you know that Paypal has a team of people focused solely on Small Business advocacy and public policy? Joining us today on the Small Business Show is Paul Disselkoen, Paypal Public Relations Specialist. Paul is charged with getting the voices of Small Business owners heard by politicians that are setting public policy that impacts Small Businesses throughout the country. Join your hosts Dave Hamilton and Shannon Jean to learn about what Paypal is doing to insure that it’s not just the big companies that are sending lobbyists to Washington. You’ll get a chance to find out about the Paypal Small Merchant Advisory Delegation and how YOU can join and get your message heard and get some great publicity for your Small Business. Paul takes us through the role that Paypal plays in helping to set policies that are favorable for Small Business owners and discusses the types of businesses they are looking for to connect with lawmakers locally, as well as in their annual trip to D.C. to connect with legislators on Capitol Hill. Listen in to learn more and find out how you can join the Small Merchant Advisory Board to protect and promote your Small Business. After the show, click over to the Small Business Support Group to share your thoughts about the show! Chapters/Timestamps 00:00:00 Small Business Show #124 June 21, 2017 00:00:49 Paul Disselkoen, PayPal Government Relations Specialist 00:02:45 Small Business Merchant Advocacy Delegation (SMAD) 00:03:48 Lobbying for Small Business – getting the voice of Small Business owners heard 00:05:26 Introducing SMB owners to their representatives in govt. 00:08:17 How do businesses join SMAD? Finding good stories from passionate SMB owners 00:09:28 What makes a good SMAD member? 00:11:09 Use PayPal to vet overseas suppliers 00:12:38 Using SMAD to overcome challenges Paypal SMB research report 00:17:00 Thought leaders in the Small Business area 00:18:21 PayPal hosts local events for Small Business Owners as well as trips to D.C. 00:19:24 Small Business Pitted Together with Politics 00:21:52 PayPal Public Policy on Twitter 00:24:05 Check the “Join” Link at PayPal.com/publicpolicy 00:24:34 SBS Outtro The post Interview with Paul Disselkoen of the Paypal Small Merchant Advisory Board – Small Business Show 124 appeared first on Business Brain - The Entrepreneurs' Podcast.

Are you a Closer? On the Small Business Show, we often say that all business owners are in the Customer Service business – but, we’re also in the Sales business. Wether you’re selling a product or service, you’ve got to sell to make your business grow. This week on the Small Business Show, you’ll get to hear the story of Ryan Stewman, Founder of HardcoreCloser.com. Ryan is an incredibly enthusiastic sales trainer and motivator that has overcome numerous obstacles to create a successful business that helps others succeed. Listen in to learn how Ryan started out washing cars and moved up to selling mortgages before the “Police kicked in the door” and everything came to a screeching halt. Keeping motivated and overcoming adversity propelled Ryan and before long he was back on top and running his own company. As the Founder of Hardcore Closer,  Ryan teaches salespeople and business owners how to succeed using social media, the sales funnel concept and all about grinding-it-out everyday to create the life you deserve. You’ll hear about going from $25 a week to $20-50,000 per month in Facebook ads and what that gets you, along with what Ryan wishes he would have done sooner as a Small Business owner. Join us today on the Small Business Show to listen to a guy who has dedicated his life to “creating millionaires” and then click over to the Small Business Support Group to comment and connect with other Small Business owners! Chapters/Timestamps: 00:00:00 Small Business Show #123 June 14, 2017 00:01:17 Ryan Stewman – Hardcore Closer 00:02:11 From Car Wash to Mortgages… just like that! 00:03:42 Hooked! 00:04:13 The Police Kicked in My Door 00:05:23 $770k in 2005 – all came to a screeching halt. 00:06:08 Then the laws changed… and I couldn’t work. 00:07:18 Putting that G.E.D. to Good Use 00:09:34 Practicing for your business while on the clock 00:10:24 Pivot OFTEN 00:11:45 Keep the momentum going 00:12:05 Daymond John – The Power of Broke 00:13:18 Put your mask on first … but then make sure you help others! 00:14:25 Dedicating to creating millionaires 00:16:43 “I advertise heavily” “Advertising is the thing that propelled me” Facebook Ads Retargeting 00:20:14 You have to learn your market 00:21:18 Writing the first book 00:22:54 I write every day Emails, Social Media, Books, Blog Posts 00:24:00 I am a prolific mistake maker 00:26:00 Embracing your mistakes -empowering yourself and others with your story 00:26:56 Don’t be a lone wolf for too long: get help faster! 00:28:53 SBS Outtro The post Small Business Show Interview with Ryan Stewman, Founder of HardcoreCloser.com – Small Business Show episode 123 appeared first on Business Brain - The Entrepreneurs' Podcast.

What’s your Exit Strategy? You have one, right? That’s the question a business mentor asked of Kyle Baccus a few years ago that led to the eventual sale of one of his businesses. Today on the Small Business Show, Kyle joins us for a second guest spot to discuss the sale and to spend some time exploring our Revenue Stack concept of developing multiple streams of revenue as part of your path towards world domination. We get a chance to learn about the three different types of business sales that Kyle has been involved in and what he’s learned from each of them, with the concept that you should “Keep saying Yes until there’s a reason not to” as a guidepost during the transactions. Business owners should consider going to a business-sales seminar to learn about selling a company, but be weary of paying cash up front to a business broker when you area ready to sell, according to Kyle. We then jump into a conversation about what is the most difficult part about selling a Small Business and how to avoid some of the usual pitfalls. Shannon and Dave then steer the conversation towards the Revenue Stack that Kyle has developed over time, how he’s moved from being self-employed, to being a business owner and finally an investor. We dig deep into how a missing revenue stream can be replaced with a varied Revenue Stack. Finally, we wrap up the show discussing how wealth can make you fear risk, how to leverage your strengths to overcome weaknesses and we discuss time management – or the lack thereof. Join us today for episode 122 of the Small Business Show, then visit our Small Business Support Group to leave your comments! Chapters/Timestamps 00:00:00 Small Business Show #122 June 7, 2017 00:01:43 Kyle Baccus – KC Tool  00:03:32 It’s a lot harder to count the failures than the successes 00:04:17 Selling 3 Businesses 00:05:19 Selling to a stranger is a different animal 00:06:55 What is your Exit Strategy? 00:08:00 Keep saying Yes until there’s a reason not to 00:09:26 Go to a business-sales seminar when you don’t need to attend 00:10:18 Learn how to price a business 00:12:41 The Most Difficult Part About Selling 00:14:33 Employees are the biggest challenge Be appreciative of the fact that they are working for you 00:15:35 Do Your Research! Google “Business Selling Horror Stories” Avoid the pitfalls 00:17:00 When a sale goes south 00:19:20 Avoid the embarassment of failure 00:19:46 “I’m self-employed and working towards being a business owner” Rich Dad, Poor Dad 00:22:36 Replacing a missing revenue stream and building a revenue stack 00:26:04 Money makes you fear risk 00:27:10 Leverage your strong suit 00:30:20 Maximizing your Time… For You Mr. Money Mustache 00:34:38 Avoid Wipeout Risk 00:36:07 SBS Outtro The post Selling Your Small Business and Developing Multiple Revenue Streams – Kyle Baccus of KCTool Revisits – Small Business Show 122 appeared first on Business Brain - The Entrepreneurs' Podcast.

Stop for a moment. Think about your day. Are you doing work that should be delegated to your employees or contract workers? Small Business owner Robert is feeling overwhelmed and looking for tips to save time and increase his profits at the end of each month. Would you be surprised to hear that your Small Business Show co-hosts have experienced this situation a few times? Dave and Shannon offer Robert some advice about delegating and keeping the phrase “Who is going to do this for me?” in his thoughts as he moves from working IN the business each day to working ON the business to become the manage and leader his company needs. Additional tips include saying no more often, raising your prices to reach an equilibrium between revenue and profit that works for you and your business and developing an Organization Chart to really see who’s doing what each day. We then jump into a question about the impact of an impending increase of the minimum wage to $15 on Gail’s local Ice Cream business. The guys suggest offering more self-serve options, “gamifying” your product to incentivize customers to spend more, starting a membership or loyalty program and more. Just as important, your co-host remind Gail to be unique; “Don’t sell Vanilla”, with some examples of other food small businesses that have succeeded by being different. Join us today for episode 121 of the Small Business Show! Then, follow us over to the Small Business Support Group to get YOUR questions answered. Chapters/Timestamps 00:00:00 Small Business Show #121 May 31, 2017 00:00:44 Happy to be alive…and take care to share the important details in case you’re not! 00:05:49 Our overflowing mailbag: feedback@businessshow.co 00:06:20 Robert-We’re working a ton but not making enough money Scott Adams – How to Fail at Almost Everything and Still Win Big The E-Myth Who is going to do this for me? Rework Learn to say No Increase your Prices Don’t Just be a Sales Business 00:16:20 Gail-Will Rising Minimum Wage Kill My Business? SBS 59 – Would a $15 Per Hour Minimum Wage Impact your Small Business? Offer more self-serve Gamify your product: Incentivize customers to spend more Membership/loyalty program – Find perks Borderland Books membership Don’t sell Vanilla: be unique! Voodoo Doughnuts Yaks Create the story Give it away… once! 00:28:00 Take a breath Reactive vs. Proactive mode 00:31:08 SBS Outtro The post Delegating more in your Small Business, learning to say no and surviving the $15 minimum wage increase – Small Business Show 121 appeared first on Business Brain - The Entrepreneurs' Podcast.

You’ve got questions about your Small Business and we’re here to help! Join Shannon and Dave today on the Small Business Show to hear their thoughts on setting up data sharing for a virtual office and the pros and cons of freelancers vs a business partner that has the skill set you are missing. If you need to share real-time data with your team that is working from different locations, what’s the best solution? Dropbox? Google Drive? How about a private solution like the Synology CloudStation? Your hosts spend time discussion these options and more to help one listener keep the data flowing between team members. We’ve spoken at length on the Small Business Show about outsourcing talent to help your business. Todd M. wants to hear what we think about hiring a freelancer vs bringing in a business partner for his technical needs. The guys talk about their experiences in this area and what to look out for with both solutions before making their recommendation. Listen in to episode 120 of the Small Business Show for all this and more! Then, join us in the Small Business Support Group to get your questions answered. Chapters/Timestamps 00:00:00 Small Business Show #120 May 24, 2017 00:00:57 Hustling is a good thing 00:01:42 Sunk Costs aren’t just financial 00:02:16 Send in your questions! Small Business Support Group 00:02:33 Jeremy-Virtualizing Your Office Dropbox Google Drive Google Docs Synology Cloud Station Synology DiskStation Business apps 00:13:00 Todd-Hiring a web developer? Guru JobRack The post Answers to your Small Business questions – Small Business Show 120 appeared first on Business Brain - The Entrepreneurs' Podcast.

Have you used outsourced talent for specific tasks in your Small Business? Ever run into quality problems? We thought so. Neil Napier ran into so many problems outsourcing that he realized there was a business opportunity to minimize headaches and increase the quality of the talent pool and thus, JobRack was born! Listen in to episode 119 of the Small Business Show and learn about the importance of having systems and procedures in place BEFORE deciding to outsource projects and how to get help if you don’t have either. We also discuss the pros and cons of outsourcing and what type of tasks lend themselves to using outsourced talent. Neil offers up some great tips to increase the likelihood of success with your outsourcing by developing Key Performance Indicators to insure that all progress is measurable. We then jump into ways to use larger companies to jumpstart your business, riding on the “coattails” of a larger company to launch your own, how to educate your customers about quality over quantity and Neil takes the time to share with us how outsourcing is just like sex. Don’t skip ahead to this section! Join us today for these tips and more, then click over to the Small Business Support Group to comment and get your questions asked! Chapters/Timestamps: 00:00:00 Small Business Show #119 May 17, 2017 00:01:23 Neil Napier – JobRack Forced to become a business owner – lost job and found inspiration 00:05:00 Instant International Businessperson 00:06:19 Systemizing Outsourcing 00:08:36 Marketing Tool: Offering guidance 00:09:22 Who benefits from Outsourcing? 00:10:11 Managing expectations of your customers 00:10:50 KPI: Set Key Performance Indicators for tasks within your business 00:12:27 Riding on the coattails of a larger business to launch your own Joining business forums to market your business. 00:14:49 Quality over Quantity: Going beyond connecting people 00:19:28 Difficulty turning brand evangelists into affiliates 00:22:00 Best Mistake: subscription model priced too low 00:24:38 Beware the ego of the entrepreneur! 00:25:30 Outsourcing is like sex! 00:26:39 Educating your clients – critical to growing your business 00:27:45 Lesson: Be ready to serve each client individually Be more aggressive! 00:29:29 SBS Outtro The post Small Business Interview: JobRack Founder Neil Napier on Outsourcing – Small Business Show 119 appeared first on Business Brain - The Entrepreneurs' Podcast.

It’s as simple as it is powerful. If we were using clickbait headlines, this one would read: This One Tip Will Make Your Customers Love You! But, since we don’t do that stuff on the Small Business Show, join us this week as we dive in deeper to the Two Tokens concept of Customer Service, as so eloquently described by Jean-Louis Gassée in his Monday Note. Gassée, who has a storied history at Apple and founded Be Computing and the BeOS, uses the United Airlines customer service disaster to shine the spotlight on the concept of Two Tokens when solving customer service problems. In a nutshell, the Two Tokens concept states that: “When a customer brings a complaint, there are two tokens on the table: It’s Nothing and It’s Awful. Both tokens are always played, so whoever chooses first forces the other to grab the token that’s left.” Your Small Business Show co-hosts were so impressed with how Gassée explained this concept and how important it can be when solving problems, that they spent the entire Small Business Show today digging into the practice and discussing how powerful it is. Listen in, and then join us in the Small Business Support Group to discuss and learn more! Chapters/Timestamps: 00:00:00 Small Business Show #118 May 10, 2017 00:01:43 Balancing multiple businesses 00:02:53 Dangling the Carrot 00:03:40 Every business is the customer service business Helpscout 00:05:54 Jean-Louis Gassée and Customer Service Tokens 00:09:11 The customer is ready for a fight. They already don’t trust you 00:12:02 Get excited. Be demonstrative. 00:16:26 SBS 118 Outtro The post How to change the conversation when solving customer service problems in your Small Business – Small Business Show 118 appeared first on Business Brain - The Entrepreneurs' Podcast.

Can you work from anywhere? Is your dream to create a business that can be managed from Thailand, Europe, Florida and anywhere in-between? If so, you need to meet the folks from Jumpanzee. Join us on episode 117 of the Small Business Show! After spending years working for Ginormous Corp, David Denning and his wife Elle wanted to own a business that would give them the flexibility to live anywhere on Earth for months at a time. Jumpanzee, a branding, design and web management firm, allowed them to do just that. After spending time discussing the challenges of running your business from an island, we jump into a discussion of distinguishing yourself in a crowded marketplace without getting into a race to the bottom on pricing, how to manage customer expectations and understanding that you can’t be everything to everyone and still be the best at what you do. It wouldn’t be a Small Business Show interview without finding out about David’s “best” mistake that taught him some powerful lessons about making yourself accessible 24/7 and learning that time is your most precious commodity. We then talk about the obstacles in the way of scaling Jumpanzee and how David and his team are overcoming them. Shannon and Dave wrap up the show with a discussion about just what exactly an “Explainer” video is and how Jumpanzee uses them to market their customers businesses. Listen in and learn, then jump over to the Small Business Show Support Group to comment and connect with Jumpanzee!   Chapters/Timestamps: 00:00:00 Small Business Show #117 May 3, 2017 00:01:32 David Denning from Jumpanzee <http://jumpanzee.com> 00:03:27 Goal: Start a location independent business 00:04:53 The ups – and downs – of being a digial nomad in business 00:06:35 Managing time zones Helps if you are a night person. Bad internet access 00:07:57 Managing customer expectations 00:08:52 Balancing project work with ongoing revenue 00:10:10 You can’t be everything to everybody and still be good 00:11:28 Jumpanzee? 00:13:05 Buying a 3-month old business 00:14:00 Differentiating yourself without using price 00:16:35 But still post your prices! 00:22:37 Favorite mistake: live chat! 00:25:00 Biggest obstacle: How to scale 00:26:45 Explaining “explainer videos” 00:29:48 SBS 117 Outtro The post Small Business Interview with David Denning Co-Founder of Jumpanzee – Small Business Show 117 appeared first on Business Brain - The Entrepreneurs' Podcast.