Monthly Archives: February 2016

Entrepreneur: A Job Description

Posted on by

IMG_2329What are the personality traits, core values and motivations that make for a great entrepreneur? It’s a tricky question to answer, because the best entrepreneurs come from wildly different backgrounds, started businesses for a wide variety of reasons, and often have deeply personal missions driving their work. Steve Jobs and Bill Gates couldn’t have been more different in terms of personality and their approaches to fostering the personal computer revolution, for instance, but both were clearly exceptional entrepreneurs.

To gain a better understanding of what makes a great entrepreneur, it might help to think about the topic from another perspective. Let’s put the role of the entrepreneur into a format most of us are familiar with. What would the job description for an exceptional entrepreneur say? Continue reading →

Ep. 171 – Writing the Right E-book: An Interview with Get Out Mama’s Mara Watts, Part 2

Posted on by

Podcast: Play in new window | Download

Get Out Mama founder Mara Watts

Get Out Mama founder Mara Watts

If Mara Watts is right, stay-at-home moms might just be one of the biggest untapped workforces of the 21st century. It’s an idea she explores in her eBook, Make Money, Mama!. In addition to being a helpful guide for contributing to the household income, Mara’s book has proven to be an effective and engaging work of content marketing for her business, Get Out Mama.

In today’s episode, co-producer and occasional co-host Natalie Pyles continues her interview with Mara, aided by host and business coach Tom Ryan. Continue reading →

Ep. 170 – Creating a Local Network: An Interview with Get Out Mama’s Founder Mara Watts, Part 1

Posted on by

Podcast: Play in new window | Download

Get Out Mama founder Mara Watts

Get Out Mama founder Mara Watts

Shortly after the birth of her first child, Mara Watts wasn’t feeling like her usual, bubbly self. She was in a dark place, struggling with the isolation of postpartum depression. In her recovery from the isolation of depression, she realized that she couldn’t possibly be the only new mom going through this experience. There was a need for community building among new moms. Thanks to Mara’s entrepreneurial spark, Get Out Mama was born.

In addition to running Get Out Mama, Mara is also the Program Manager for the Kauffman Foundation Entrepreneur In Residence program, working alongside Success In Business host Tom Ryan. To keep the conversation fresh on today’s episode, Tom hands over the show’s reins to co-producer and occasional co-host Natalie Pyles. Continue reading →

Elementary Startup Planning: Financial Models and the Path to Profitability

Posted on by

SIBP-Blog-NEW-B-2We’ve all heard the stats about business failure. According to some fairly reliable sources, as many as 8 in 10 businesses will fail within the first 18 months. But that statistic doesn’t tell the whole story. Many of those businesses were doomed to fail long before they ever opened their doors. Why? Their founders had no idea how the business was actually going to make a profit.

In my last post, I stressed just how important the financials are when planning a new business. The better your understanding of your path-to-profitability, the easier it is to both communicate and implement that plan. Continue reading →

Ep. 169 – Selling Through Storytelling, Part 3

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-2Every customer has a problem that needs solving. The better you understand that problem, the more likely it is that they will decide to spend their money on your solution. There’s no better way of demonstrating how well you understand their struggles, pains and frustrations than by telling them a story about another prospect with a similar problem, and how your products or services were able to make that problem disappear.

In this episode of the Success In Business Podcast, host Tom Ryan explains how the right kind storytelling can do more than simply open doors during the sales process. It can build trust, set expectations, and even help with the tricky business of qualifying prospects. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Elementary Startup Planning: Why Financials Matter

Posted on by

SIBP-Blog-NEW-B-5A few weeks ago, I was talking with one of the first-time entrepreneurs I mentor as a Kauffman Foundation Entrepreneur In Residence. As we were working through the details of getting them ready to start their first funding round, they asked me a really great question.

“Tom, if you were starting a new business today, what is the first thing you would do?”

As I started to think about the answer, I found myself getting really excited. Even without having a specific business concept in mind, my mind was flooded with some great ideas for getting a new business off the ground. At the same time, the answer to their question was obvious, because every plan I could come up with was built on the same cornerstone: Getting the financials in order. Continue reading →

Ep. 168 – Selling Through Storytelling Part 2

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-4Once they’re through with the pleasantries and the basic questions that make up the start of an initial sales call, most sales reps make a huge mistake. Instead of telling a story compelling story about another client in the similar position, they dive right into talking about their company’s product or service. Instead of feeling like a conversation between two people, it starts to feel like a sales pitch.

In this episode, host and business coach Tom Ryan continues his exploration of storytelling as a sales technique. As always, Tom is joined by producer and co-host Jason Pyles. Continue reading →

Alternatives To A Longform Business Plan

Posted on by

SIBP-Blog-NEW-B-3Great business planning has a lot of moving parts. The more you can nail down things like your value proposition, your business model, and your go-to-market strategy, the easier it will be to you to be successful. There’s even that all-important detail of how your business will actually manage to turn a profit. The idea behind a business plan is to answer all of these questions in a single, relatively easy to read document.

But is a narrative business plan really the best option? To answer that question, it helps to understand the audience. Who will be reading this business plan? Will it just be investors and lenders, or is this something you’ll be showing to potential co-founders or high-value employees? What kind of document will give those people the information they need, and in the easiest-to-digest form?

Is a longform business plan really the best document to use in all cases, or are there better options available? Continue reading →

Ep. 167 – Selling Through Storytelling Part 1

Posted on by

Podcast: Play in new window | Download

SIBP-Blog-NEW-2Your first conversation with a prospective client or customer can be a balancing act. During that initial discussion, you’re doing more than just gathering some basic details. You’re qualifying them, gauging how serious their interest is, and trying to determine how well their needs align with your products or services. At the same time, it’s absolutely vital to keep their attention.

There’s no better way to do that than to tell them a good story. As it turns out, you had another client in a very similar situation, and they came to you for help …

In this episode, host and business coach Tom Ryan begins his series on changing your sales results through effective storytelling techniques. As always, Tom is joined by producer and co-host Jason Pyles. Continue reading →

Ep. 166 – How a Business Partnership is Like a Marriage: An Interview with Grava Bike Co., Part 4

Posted on by

Podcast: Play in new window | Download

Grava Bikes, straight from the paint booth.

Grava Bikes, straight from the paint booth.

In a marriage, one of the thorniest issues tends to be managing money. As Grava Bike Co. co-founders Jeff Welch and Shawn Moore explain, a business partnership is kind of like a marriage where the only thing to think about and talk about is money. Handled poorly, a business partnership can easily turn into a stressful and tense situation. Not surprisingly, both Jeff and Shawn believe strong communication to be key to a long-lasting business partnership.

In today’s episode of the Success in Business podcast, host and business coach Tom Ryan continues his conversation with Jeff and Shawn. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →