Author Archives: producer

Ep. 033 – How to Build Your Value Proposition in Three Easy Steps – Business Model Canvas Part 3

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Good morning! This morning on the Success in Business Podcast we pick up where we left off in Episodes 27 and 32 answering a question from Brian. What is Value Proposition? The concept of Value Proposition is simply the value that you propose to bring to your clients. Now you must find out how the market feels about your product or service. Tom reminds us not to ask them, “Would you buy?” but rather to ask, “Will you buy?” This will give you a more accurate gage on the market. Tom and Jason continue the hilarious Kick-Ass Cat Sweaters example to illustrate just how to use reliable validation of consumer feedback. Thanks for listening! Continue reading →

Ep. 032 – What Is a Value Proposition? – Business Model Canvas Part 2

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Good morning! This morning on the Success in Business Podcast we pick up where we left off in Episode 27 with a question from Brian. What is Value Proposition? The concept of Value Proposition is simply the value that you propose to bring to your clients. If you are selling to businesses your value will fall into one of three categories. Your value may be that you:

1) help them make money,
2) help them save time,
3) or help them not get hurt.

If you are selling to consumers your value proposition categories widen and it may be that you:

1) help them make money,
2) help them save time,
3) help them not get hurt,
4) help them look good,
5) or, help them feel good.

Either way, as you assess and develop your Value Proposition, remember that this is the element about your business that is going to make your customers’ life better – either because it is innovative or because it is more efficient. Your Value Proposition is how you help your customers better than any other company can. Thanks for listening! Continue reading →

Ep. 031 – How Much Money Do I Need to Start My Business? Part 2

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Good morning! Today it’s Monday and we have a great show for you today! On Episode 31 of the Success in Business Podcast your host Tom Ryan concludes his answer to great listener voicemail question from Kristen. She is asking how to figure out just how much money she needs to get her business started. Tom teaches the importance of bootstrapping. Then, he advises that entrepreneurs do their homework and carefully estimate their expenses and their sales. Give yourself a 3 month long runway for a smooth take off. Thanks for listening! Continue reading →

Ep. 030 – How Much Money Do I Need to Start My Business? Part 1

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Good morning! Today on Episode 30 of the Success in Business Podcast your host Tom Ryan answers a great listener voice mail question from Kristen. She is asking how to figure out just how much money she needs to get her business started. Tom explains that first she needs to find out how long this money will need to last. She’ll want to estimate start up and recurring expenses and then deduct her estimated sales. She’ll need to raise enough money to keep her company going until she has three months in a row where her sales exceed her expenses. Thanks for listening! Continue reading →

Ep. 029 – Convertible Note Financing

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Good morning! Today on Episode 29 of the Success in Business Podcast your host Tom Ryan dives deeper into the topic of convertible notes. He breaks down the formulas that you’ll need in order to make your own calculations. Click here for the Convertible Note Financing calculations you’ll need! Thanks for listening! Continue reading →

Ep. 028 – Convertible Notes 101

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Good morning! Today on Episode 28 of the Success in Business Podcast your host Tom Ryan introduces the topic of convertible notes. He describes what it is and how it works. Learn everything you need to know in order to decide if this type of funding is right for you and your business. Thanks for listening! Continue reading →

Ep. 026 – Top 10 Things to Consider Before Starting Your Business Part 10: Just Do It

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Good morning! Today on Episode 26 of the Success in Business Podcast your host Tom Ryan completes his 10 part series on what to consider before starting you business. The first 9 steps have prepared you so well that the only left to do is to jump right in and just do it! If you are waiting for every single star to align and for the time to be perfect, you may never get your chance. Go ahead and take the leap! Thanks for listening! Continue reading →

Ep. 025 – Top 10 Things to Consider Before Starting Your Business Part 9: Getting Ready to Fail

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Good morning! Today on Episode 25 of the Success in Business Podcast your host Tom Ryan gives goes on record saying that failure is just part of business. Let it make your business stronger. Take this chance to do research and development. Tom teaches you how to fail quickly and fail softly. Of course, you have to hang in there and fight when times get hard, but you also need to have a plan to land the plane and walk away safely if a crash is inevitable. Thanks for listening! Continue reading →

Ep. 024 – Top 10 Things to Consider Before Starting Your Business Part 8: Identifying Your Prospective Customers

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Today’s episode is a continuation of the series, “Top 10 Things to Consider Before Starting Your Business,” which was initiated by one of the show’s listeners, Kathy. She is making the shift from the corporate world to entrepreneurship, and is in the process of starting her first business; she asks, “What do you suggest that I consider and avoid before taking the leap of faith?” Tom discusses the eighth thing to remember before starting your business, knowing your customers.

Key Takeaways
A big part of telling your story includes knowing who your audience is, and today’s episode delves deeper getting to know your customers. Tom offers five tips to accomplish this in your own business.

Tip 1: Ask them

The first thing you must do is get out there and seek immediate and direct feedback from your audience or prospective audience. There’s no better way to figure out what someone is thinking than to go out and ask them. In order to do this, use whatever means you have to connect and test out your assumptions. Different ways include Continue reading →

Ep. 023 – Top 10 Things to Consider Before Starting Your Business Part 7.5: How to Tell Your Story Well Continued

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Today’s episode is a continuation of the series, “Top 10 Things to Consider Before Starting Your Business,” which was initiated by one of the show’s listeners, Kathy. She is making the shift from the corporate world to entrepreneurship, and is in the process of starting her first business; she asks, “What do you suggest that I consider and avoid before taking the leap of faith?” Tom discusses the seventh thing to remember before starting your business, how to tell your story.

Key Takeaways
An important part of connecting with your customers and audience is to know how to tell your story. Tom’s role as the Kauffman Foundation’s Entrepreneur-in-Residence for Western North Carolina allows him to work with startup early stage companies and founders; he continually encounters interesting patterns that emerge about companies’ ability to effectively tell their stories. In this episode, Tom reveals the last two tips for you to follow so you can get better at telling your story.

Tip 4: Answer the right question (not the comfortable one)

The order in which you communicate your story to your audience begins with answering the right question and not the one you want to or are most comfortable with. Frequently, people are asked the question—what do you do? Too often they Continue reading →