Monthly Archives: February 2016

Ep. 178 – Seed Funding 101: Common Methods

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SIBP-Blog-NEW-1Raising money is a roadblock most early stage companies will encounter sooner or later. It can be a confusing topic, with a wide variety of competing models and expert opinions muddying the waters. To understand how fundraising works — particularly the “seed stage” funding that’s relevant to most startups — we need to get back to basics.

In today’s episode, host and business coach Tom Ryan outlines the fundamental stages of fundraising, discussing what they mean in purely practical terms for first-time entrepreneurs. Tom is joined by producer and co-host Jason Pyles. Continue reading →

Tom Ryan’s Four Ps of Sales: An Introduction

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Four Ps 2016It’s no surprise that entrepreneurs and business owners are intimidated by sales. Few subjects have been more discussed, dissected, theorized about, and lectured upon than the most profitable process for selling things. Countless books, workshops, video series and training seminars are devoted to every aspect of the sales process, from the most broad generalizations of sales philosophy to the most obscure minutiae of process.

That’s always bugged me. Why does the business of sales have to seem so complicated? As entrepreneurs, why don’t we have something simple that explains the core concepts? Why isn’t there a “Four Ps of Marketing” for the sales process?

After some thought, I decided it was high time to create one. I call it the “Four Ps of Sales.” Sure, it’s a little on the derivative side, but it works. Continue reading →

Ep. 177 – Seed Funding 101: Overview

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SIBP-Blog-NEW-5When you work with a wide variety of startups and early stage companies, it’s not the differences in business models or industries that stand out most. What stands out most are the similarities. As they grow, every business goes through roughly the same stages of development. No place is this phenomenon more evident than when it comes to fundraising.

In today’s episode, host and business coach Tom Ryan launches a new series discussing the fundamentals of fundraising. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Ep. 176 – Selling Through Storytelling, Part 6

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SIBP-Blog-NEW-4It’s late in the initial sales meeting. You’ve told the prospect about how your business was able to help a company that was in a situation very similar to the one your prospect is facing. You explained how the results you delivered were worth every penny of the investment. You’ve even helped to prospect to visualize how your products or services could help them overcome their own challenges. Now, it’s time to see just how serious they are about moving forward.

In this final installment of the Selling Through Storytelling series, host and business coach Tom Ryan explores the likely prospect responses to a narrative-based sales approach. Learn what reactions indicate that it’s time to move forward, and which suggest that it’s time to “cut bait” and move on. As always, Tom is joined by producer and co-host Jason Pyles. Continue reading →

Ep. 175 – Selling Through Storytelling, Part 5

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SIBP-Blog-NEW-3Applying storytelling techniques to your sales process means taking your prospects on their own version of the Hero’s Journey. You can think of it as the prospect’s individual story arc, allowing them to see how your products or services can help them overcome the challenges they need to be successful within the context of their own tale. To be effective, you not only need to cast the prospect as the central character of the tale, you also need to get them to see your product as the solution they’ve been looking for.

In today’s episode, host and business coach Tom Ryan talks about turning your company’s “unfair advantage” into a powerful sales tool through storytelling. Tom is joined by co-host and producer Jason Pyles. Continue reading →

3 Questions For Determining Your Highest and Best Use

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SIBP-Blog-NEW-B-2In my last post, I explained the concept of “highest and best use,” and how it applies to running a business. It’s an easy concept to wrap your head around, but how do you apply it to your business in a practical way? As an entrepreneur, how can you discover what your highest and best use actually is?

To help, I’ve developed a simple, three-question approach to help you identify those tasks that simply don’t represent the best use of your time and mental energies. Continue reading →

Ep. 174 – Selling Through Storytelling, Part 4

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SIBP-Blog-NEW-2One of the most powerful aspects to using storytelling as a sales tool is how dramatically it can change prospect reaction during your initial consultations. Not only can it help you disqualify prospects more easily, but it can even help you nail down an agreement in principle about their need for your product or service. With the right kind of storytelling techniques, you can supercharge your sales results.

In part four of this ongoing series, host and business coach Tom Ryan revisits the core concepts of sales-focused storytelling, and explores the right way to gauge prospect reaction. Tom is joined by co-host and producer Jason Pyles. Continue reading →

The Value of Knowing Your “Highest And Best Use”

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SIBP-Blog-NEW-B-3In the real estate world, there’s a concept called “highest and best use.” It’s a principle appraisers use to determine the optimal value of a piece of property. The basic idea is that a property’s use and its value are strongly connected. When a property is being used in the best way possible — taking advantage of its location, utilizing available parking, being in good shape with modern upgrades, and complementing other nearby properties — then it should also have its optimal value. When a property is being used poorly, on the other hand, its value suffers.

You might be thinking “That’s great, Tom, But what does this have to do with entrepreneurship?” Everything. Continue reading →

Ep. 173 – Developing the Confidence it Takes to Lead a Business: An Interview with Get Out Mama’s Mara Watts, Part 4

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Get Out Mama founder Mara Watts

Get Out Mama founder Mara Watts

When Mara Watts was still in elementary school, she had plans to start her own business. Not just any business, but a project that would have meaning and ultimately help people. As the founder and CEO of Get Out Mama, she’s finally taken her first steps towards living up to that 5th grader’s dreams.

In this final installment of the interview with Mara, host and business coach Tom Ryan and co-host and co-producer Natalie Pyles talk about the challenges of running a business while being a full-time mom, why motherhood is great training for being an entrepreneur, and what it’s really like to work with Tom. Continue reading →

Ep. 172 – Offering a Valuable Service to the Market: An Interview with Get Out Mama’s Mara Watts, Part 3

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Get Out Mama founder Mara Watts

Get Out Mama founder Mara Watts

If you want an honest, straight-shooting assessment of your restaurant or retail location’s bathroom, ask a mom about it. A woman who has to change a diaper learns pretty quickly which locations are well-maintained, and which are disgusting and grungy. If Mara Watts, founder and CEO of Get Out Mama, has anything to say about it, every restroom in the greater Asheville, NC, area will soon be ranked by a crowd-sourced army of hygiene-focused mamas.

In today’s episode, host and business coach Tom Ryan and co-host and co-producer Natalie Pyles continue their conversation with Mara, discussing everything from organizing startup events to the untapped power of stay-at-home moms for market research. Continue reading →