Fixed expenses versus variable expenses and what you need to do to reduce your risk of too much overhead. NUMBERS!
Some of my thoughts about college, internships, and what high schoolers should do after they graduate...
Brian sent a question in on starting his business. Mike encourages you to focus on just two things in your business.... yes there are hundreds of other areas and details but they seem to take care of themselves when the business is growing top line revenue and focussed on lean business practices (efficiency).
Hiring is tricky, but firing someone is a whole lot more awkward... but you've gotta do it by-the-books. Documentation is key to making sure your prior employees can't try and make things up... not documenting the reasons for the firing and having witnesses/signatures WILL come back to bite you sooner or later. PS -- never fire someone over a text message....
7-8 months ago I hired an employee... He got fired on his second day on the team... Yet, 7 months later I still have regrets and am reaping the repercussions of not having a hiring system in place.
Yes, United Airlines had bad customer service... But, there is a time when the business owner has to draw a line and fire the customer. Today, we talk about the balance between sales and customer service and how good customer service can feed your sales funnel.
Everyone says that you have to be passionate about what you are doing in order to become extra ordinary at that craft.... I get it... But I disagree. What about the journey to that "passionate" place? What about the grind? The stick-to-it-ive-ness when you don't feel like jumping out of bed and going to work everyday.... ?
I have a question for you... what would you do if you were me? Am I making the wrong decision?
What is Facebook up to and what can we learn from their acquisitions of Instagram and WhatsApp? Also, I personally hit a pretty cool milestone in my business.
Two questions got answered today... two random questions. One about success, the other about investors.
Then something crazy happened....!
Business isn't the most important thing... you need something to anchor you.
If you love what you do you aren't constantly thinking about your next "escape", your next "get-a-way"..... If all you think about is your next vacation, then you've gotta get serious with yourself... you got one life!
If you talk the talk you've got to walk the walk. If your work ethic and hustle doesn't match your audacious goals and aspirations you are setting yourself up for disappointment and failure.
Mike gives you two different angles on getting more from your employees. Remember the Golden Rule, "do unto others, as you would have them do unto you."
You have got to understand your people if you want to incentivize and motivate them to achieve more.
Mike shares a small yet very powerful tip on getting your website to rank higher in Google Search.
What can we learn from the United Airlines fiasco this past week? A lot! But, today we dig deep into the CEO's response to the incident and how you should apologize more effectively.
Suicide is a subject not talked about much but is extremely prevalent in the entrepreneurial community and can be hurdle for failing small business owners.
Luke was a fellow student in my MBA class and is the owner of a white water rafting company and a yoga studio. Mike gives advice on how to scale his business and market his services using social media and video.
A 60 year old asked a question and Mike gives advice on how to quit your 9 to 5 job and start your passion project or entrepreneurial adventure.
This an amazing episode with Omar Soliman, CEO of College Hunks Hauling Junk and a sort of mentor that I have followed for several years. College Hunks now has 100 franchises and is growing very rapidly with over $70,000,000 in annual revenue. Omar gives tips to systemize your business, franchise your company, and turn blue collar work into white collar professions.
This is an update on what I have been up to. Includes franchising my lawn care business, getting awards, and the importance of creating a team culture.
Joseph is 20 years old and in his second year of college. He wants to drop out and run his business full time. His parents still want him to attend college, graduate, and get a corporate job. There is a mindset and process that you should follow if you want to drop out of college.
Aaron lives in Vancouver and emailed a question about starting a mobile fitness business for HR departments. Mike gives advice on creating a minimum viable product, and making real businesses out the ideas you have!
Kristian called in today and talks about his journey as a young business owner. He is looking to scale his business quickly and is able to do so because he puts his money back into the business (instead of buying the fancy car, watch, house, etc). This is a valuable lesson for all entrepreneurs wanting to scale their business.... LIVE ON LITTLE!
If you are selling you products you should sell services... and vice versa. This is a great opportunity to upset existing clients and reach a whole new demographic of prospects. Also, Mike takes a question from a pharmacist that is trying to grow his business.