Transcript
A (0:00)
Oh, hey, welcome to gift wrapping.
B (0:01)
Whoa.
A (0:02)
So is Saldana.
C (0:03)
Hey, can you wrap these please?
A (0:05)
Wow, iPhone 17s.
C (0:06)
You splurged at T Mobile. You can get four iPhone 17s on them. The new center stage front camera is amazing for group selfies. It's the perfect gift for everyone.
A (0:14)
I'm the worst. I only got my mom a robe.
C (0:16)
Well, it's better than socks.
A (0:18)
So I have to trade in my old phone, right?
C (0:20)
No AT T Mobile. There's no trade ins needed when you switch. Keep your old phone or give it as a gift.
A (0:26)
Incredible.
C (0:27)
In fact, wrap up my old phone too for my aunt Rosa.
B (0:30)
Forget that.
C (0:30)
Aunt Liz will be jealous.
A (0:31)
Sounds like my family drama.
C (0:33)
Oh, I got it. I'll give it to my abuela. I'll take reindeer paper with. Hey, where are you going?
A (0:37)
To T Mobile. The holidays are better. AT T Mobile get four iPhone 17s on us. No trade in needed when you switch plus four lines for just 25 bucks a line. And now T Mobile is available in US cellular stores with 24 monthly bill credits and four eligible board inside essentials for well qualified customers. Auto pay + taxes fees and $35 device connection charge credits and imbalance due if you pay off early or cancel. Contact us Finance Agreement 256GB required.
B (0:58)
Visit t mobile.com Listen. I found that the best B2B marketing gets wasted on the wrong people. So when you want to reach the right professionals, I Recommend you use LinkedIn ads. LinkedIn has grown to a network of over 1 billion professionals, including 130 million decision makers. That's people that have the ability to say yes to your offer. That's why LinkedIn has the highest B2B ROAs of all online ad networks. Spend $250 on your first campaign on LinkedIn ads and get a free $250 credit for the next one. Just go to LinkedIn.com MBA that's LinkedIn.com MBA Terms and Conditions apply. That new idea in your head right now. It could be genius. Or it could be the fastest way to lose momentum and lose everything you built. So today I want to show you five quick filters that I use to know the difference. To know the differ. Is this something that's brilliant I should pursue? Or is this a distraction? By the end of this episode, you'll know when to double down and when to walk away. Welcome back to the Hundred Dollar MBA show. I'm your host Omar Zenholm where I deliver practical business lessons three times a week. Monday, Wednesday and Friday. To help you start grow and scale your business before we jump in. Can I get 30 seconds of your time? We love guiding you on your business journey and we want to help even more people build their dream businesses and lives. So if you could hit the follow button on this podcast app, it would be greatly appreciated. It's completely free and it helps us out more than you know. Thanks. Let's start with that five step framework I just mentioned. Because when you have clarity, it's easy to take action. You know what to do. Let's start with step one. You want to check your why. Are you running from boredom or maybe complacency? Maybe your business is going well and you're running fine and you're making some money, but it's not challenging you anymore. Are you moving towards impact? Maybe you see an opportunity that you really want to chase. You know, I want to say something out of experience. When you feel that feeling of wanting to escape your current business, your current endeavor, that feeling, it actually fades fast. If you just let it pass within a day, it kind of kind of goes away. The things that you know that you need to. To kind of pursue are the things that just linger in your head for weeks and months. I always say expansions grow roots. So if you have a new idea for a product or a service or a whole new business, there's a good chance that if it's something that's solid, something that you feel like you really need to do, it's going to be in your head and it's going to grow in its manifestation in your head. The idea is going to grow and you're going to get clear on what it is. As the days and weeks roll on. It's not just going to disappear or dissipate. The. The things that kind of disappear are the ones that kind of you want to ignore. Because it's really a distraction. But only you can answer this question. Is this a distraction, an escape from what you're doing right now? Or are you really thinking that this is going to be the next stage in your life, the next level of your journey in business? Step two is what I call the 70% rule. If your business isn't at least 70% optimized, get it to 70%. What do I mean by 70% optimized? Well, can the business run with it? So say, for example, right now you're putting 40 hours a week into your business. Can you step away and you only do 10 hours? If you can't do that, if you physically can't do that, then you're not ready to start something new, Your business cannot run without you. There's no reason to let go of a business that is doing well, that's actually making money. You can step away from it. If you have people in place, if you have systems in place and you see yourself as an investor in your own business, that's great, that's fine. That's what entrepreneurs do. But I highly recommend, recommend if before moving on into a new project is you get it to at least 70%. If you want to be on the safe side, at least 80%. That means that you're only checking in five hours or so a week. That's like less than a day a week. So keep that in mind. Don't collect projects where you are spinning all the plates. You want to collect progress, right? You want to make sure that when you are starting something new, the other thing is self sustaining and it's building you wealth as you move on to the next step. Step three is what I call the opportunity cost test. Opportunity cost is one of the most overlooked and undervalued things in business. Opportunity cost is basically the cost of choosing to do something. So it's everything else you could be doing when you say yes to something. So if I say yes to start a video podcast, right, I start publishing videos on YouTube, let's say all the time. All the energy, all the money I put into doing that automatic makes it impossible for me to do anything else. So say for example, I'm shooting videos from 10am to 12pm every day for the next five days. Let's just say this is the example, okay? From 10 to 12, that energy, that time, all the resources that I'm using during that time can only be used for that because that's what I'm doing. So everything else I could be doing with my time, whether it's a different marketing strategy, whether it's me speaking on stage, whether me improving my speaking skills, whether it's me posting on social media, whatever it is, right? Whatever thing under the sun, something personal, you know, going for a walk in the park, you could be doing a plethora of things other than this thing. So you have to keep in mind that every time you say yes to something, it steals energy from something you're already doing. So every time I say yes to something, I got to keep in mind where am I gonna get this time and energy? You know, something's gonna get sacrificed. This is very important when it comes to planning your year, right? We're gonna talk about that in an upcoming episode. I think next episode. The point I'm trying to make here is that you have to understand you have a limited time, limited energy, limited resources, regardless of how big your team is, okay? It's not infinite. So anytime you say yes to something, you are saying no to everything else. So the test that I want you to take is asking yourself, if I start this test, if I start this new project, new business, what's going to stop happening? What am I going to stop doing? Where am I going to take that time from? Is my health going to be sacrificed? Is my relationships going to be sacrificed? Will my current business or project be sacrificed? How's it possible I'm going to be doing something new without letting go of something that exists? Entrepreneurs and business owners often struggle with sales. The problem isn't effort, it's staying organized. Missed follow ups and scattered emails mean lost deals. That's why pipedrive is the number one CRM for small to medium businesses. It gives teams a simple system to manage every deal. On average sales, teams using pipedrive close three times more deals each month. Pipedrive also cuts out tasks that slow you down, automate follow ups and reminders so no contact is missed. AI tools can analyze pipelines, summarize emails and surface qualified leads. Data tracking shows which deals are most likely to succeed and offers guidance to improve. With this visibility, it's like having a sales Coach inside your CRM. It's a powerful, simple CRM built by salespeople for salespeople. Join the over 100,000 companies already using Pipedrive right now. When you use my link, you'll get a 30 day free trial. No credit card or payment needed. Just head to pipedrive.com mba to get started. That's pipedrive.com mba and you can be up and running in minutes. Oh hey.
