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How Losing_Podcast
43. How Losing $750k Led Justin Hatch to Build a Successful Software Company

43. How Losing $750k Led Justin Hatch to Build a Successful Software Company

Whether it’s starting a business or investing in stocks, our endeavors often come with risks. According to the U.S. Bureau of Labor Statistics (BLS), approximately 20% of new businesses fail during the first two years of being open, 45% fail during the first five years, and 65% during the first 10 years. And as much as 90% of people lose their money in stock markets (Source: Research & Ranking).

These statistics may be discouraging, but risks can yield a big reward too. For example, when Whole Foods Market was created in the 1980s the United States had less than six natural food stores. There wasn’t evidence that there was a large market for natural and organic food. Despite its rocky start, Whole Foods was able to become the industry-leading grocery-store chain for healthy food (Source: Washington State University). Whole Foods Market now operates 472 stores worldwide with a net income of $245 million (Source: Statista).

“The biggest risk is not taking any risk... In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” -Mark Zuckerberg, CEO of Facebook

Justin Hatch has taken some risks in his career. Some of them have panned out while others didn’t. However, in both failure and success, he learned from the chances he took, and he used the lessons he learned to create a successful business that helps others understand their endeavors and calculate their risks.

How Brad_Blog
42. How Brad Pace Helped Create 8 Successful Digital Ventures, Including One that Reached $450 Million in Annual Revenue

42. How Brad Pace Helped Create 8 Successful Digital Ventures, Including One that Reached $450 Million in Annual Revenue

“What new technology does is create new opportunities to do a job that customers want done.” -Tim O’Reilly, founder of O'Reilly Media

Technology has created a new type of venture, digital ventures. As the internet and technology become more and more part of our lives it is essential that businesses take advantage of them. Brad Pace has been a part of 8 successful digital ventures that we discuss in today’s episode.

Brad Pace is a former business partner of mine. We were partners in SocialNexus, where we did a lot of work creating digital ventures with Brazilian companies. He has also worked on many other successful digital ventures, including Ancestry.com, MyFamily.com, About.com, Finicity, World Vital Records, and more. He is currently the president of TeamDial.

5 Ways to Provide_Blog
41. 5 Ways to Provide Value to Our Clients

41. 5 Ways to Provide Value to Our Clients

In the early days of Eric Farr’s company BrainStorm, Inc. a client came to them about a problem with an order. Their client needed the order for a training meeting the next Monday and Eric’s company promised they would have the order in their European office in time for the training. Later the BrainStorm team discovered that the only way they’d be able to get the order to the client in time was to fly there themselves, bringing the order with them.

Eric, the company CEO, bought a last-minute flight on the Friday morning before the training with almost too many layovers to count. Eventually, he and the order ended up in Scotland, where the client was. He delivered the order and stayed in Scotland with the client for about two hours before flying back to the United States.

6 ways to foster_Blog
40. 6 Ways to Foster Customer Loyalty from a Harvard MBA and Former Stealth Bomber Pilot

40. 6 Ways to Foster Customer Loyalty from a Harvard MBA and Former Stealth Bomber Pilot

Bill Crawford owns an amazing pizza restaurant named Righteous Slice, which makes some of the best pizza I’ve ever had. When entrepreneurs own a business like the one Bill Crawford owns it is important to have loyal customers. The probability of selling to an existing customer is 60-70%, while the probability of selling to a new prospect is only 5-20% (Source: Markinblog). In this episode, we discuss some of the ways Bill has developed a strong base of loyal customers.

Bill Crawford graduated from Harvard with his MBA. He is a former Air Force fighter pilot and stealth bomber pilot. He’s a professor of entrepreneurship, and he just may be the coolest pizza restaurant owner ever.

How Michelle Dale Grew a Business_Blog
35. How Michelle Dale Grew a Business from No Revenue to $20,000 in a Day with an Online Course

35. How Michelle Dale Grew a Business from No Revenue to $20,000 in a Day with an Online Course

Welcome back to another episode of Monetization Nation with Michelle Dale. Previously, we discussed how Michelle began an online business while working from home, traveling abroad, meeting her husband, and becoming a mother. We also discussed her business model...

How Michell dale_Blog (1)
34. How Michelle Dale Built a Business that Allows Her to Travel the World While Making a Great Living

34. How Michelle Dale Built a Business that Allows Her to Travel the World While Making a Great Living

What would it be like to make a great living while traveling the world? Michelle is a digital nomad who has unlocked the secrets of this lifestyle by balancing work from home and traveling abroad at the same time. She is the founder of Virtual Miss Friday (an...

6 Tips for Adding_Blog
32. 6 Tips for Adding New Revenue Streams with Information Products (with Bailey Richert)

32. 6 Tips for Adding New Revenue Streams with Information Products (with Bailey Richert)

Information products can come in many different formats, such as online courses, virtual summits, ebooks, and coaching programs. At their core, information products must provide guidance and value to our consumers. Bailey Richert is today’s guest. She is a business...

6 Credibility_Blog
29. 6 Credibility Strategies from Curtis Blair, Who Led 5 Companies to Multimillion-Dollar Valuations

29. 6 Credibility Strategies from Curtis Blair, Who Led 5 Companies to Multimillion-Dollar Valuations

Credibility is becoming increasingly important in business. Potential customers don’t trust as easily as they once did, so it is much more important that we do everything we can to build strong relationships of trust, be honest, and be real in those relationships....

How to_Blog
28. How to Generate $100 Million in Annual Recurring Revenue by Giving Away Something for Free

28. How to Generate $100 Million in Annual Recurring Revenue by Giving Away Something for Free

"Startups don’t fail because they lack a product; they fail because they lack customers and a profitable business model." -Steve Blank, Entrepreneur A profitable monetization model is a key aspect of every business. In today’s show, Johnny Hanna discusses some...

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