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The MBA for Entrepreneurs
Section 1: Introduction - Getting Started
1.1 - My Background and Story: How My MBA FAILED Me (8:15)
1.2 - What to Expect From The Course (7:53)
1.3 - Legal Disclaimer. 5% of this course applies to the USA only (1:31)
1.4 - How to Get the Most Out of the Course (8:10)
1.5 - The Importance of Small Business (3:06)
1.6 - A Small Business That Acts Like a Gazelle (5:24)
1.7 - 5 Reasons You Have a Competitive Edge Over The BIG GUYS (13:39)
1.8 - 5 Reasons Businesses Fail (6:20)
Section 2: Business Owner Psychology
2.1 - Know Thyself - Who Starts Their Own Business (6:20)
2.2 - The 4 Motivations for Founding a Company (8:40)
2.3 - The Three-Way Split Personality of Business Owners (14:41)
2.4 - The Entrepreneurial Trap: Why You Should NOT Start a Business (9:30)
2.5 - Why You SHOULD Start a Business (9:07)
2.6 - The Qualities of a Good Entrepreneur (7:28)
2.7 - Are You an Entrepreneur or Operator? There IS a Difference (8:58)
2.8 - Other Peoples Opinions: Your Boss (7:13)
2.9 - Other Peoples Opinions: Your Parents (5:28)
2.10 - Other Peoples Opinions: Your Significant Other (4:59)
2.11 - Other Peoples Opinions: Your Friends (5:08)
2.12 - Alone or With a Partner - WARNING (3:50)
Section 3: The Ideation Phase: Before You Start
3.1 - The 3 Circles to Pick Your Business Venture (10:26)
3.2 - Types of Startup Ideas (6:22)
3.3 - Where 45% of Startup Ideas Come From (4:40)
3.4 - My Personal Startup Idea Generator. STOP HERE (14:22)
3.5 - Factors That Offset the Attractiveness of Your Idea (14:47)
3.6 - The SWOT Analysis (9:37)
3.7 - Franchising 101: Terminology (5:34)
3.8 - Franchising 101: The Pros (8:44)
3.9 - Franchising 101: The Cons (68:06)
3.10 - Reasons to Acquire/Purchase an Existing Business (4:26)
3.11 - Where to Find Deals: Brokered Deals (3:38)
3.12 - Where to Find Deals: Classifieds (3:38)
3.13 - Where to Find Deals: Personal Connections and Social Media (3:03)
3.14 - Finding SCREAMING DEALS: Businesses Without a Moat (5:44)
3.15 - Finding SCREAMING DEALS: How to Negotiate with a Retiree (6:59)
3.16 - Finding SCREAMING DEALS: How to Negotiate for a Struggling Biz (10:49)
3.17 - Before Buying a Business: Ask for Reasons for Sale (5:09)
3.18 - Before Buying a Business: Valuation Factors (12:40)
3.19 - Negotiating and Closing the Deal (16:22)
3.20 - MVP: Creating Your Minimum Viable Product (7:12)
3.21 - Testing the Market and the Curve of Early Adopters (13:39)
3.22 - The Financial Runway (3:18)
3.23 - Your Break Even Analysis (7:36)
3.24 - Part Time Business Owner: Evenings and Weekends (3:16)
3.25 - Your What, How, and WHY (6:17)
3.26 - Creating Your Inner Circle (5:23)
3.27 - Inner Circle: Finding a Good Accountant (7:10)
3.28 - Inner Circle: Bookkeeper VS Accountant: Which One Do You Need? (9:13)
3.29 - Inner Circle: Attorney (6:20)
3.30 - Inner Circle: Bankers (3:45)
3.31 - JUST GO. Paralysis By Analysis (4:40)
3.32 - Social Entrepreneurship (10:46)
3.33 - Family Business: The Three Circle Model of Family Firms (4:55)
3.34 - Family Businesses: Advantages (4:38)
3.35 - Family Businesses: DisAdvantages (7:28)
3.36 - Family Businesses: Sibling Rivalry, Divorce, and Hiring Family (7:21)
3.37 - Preparing for Succession: Responsibilities of the Older Generation (7:42)
3.38 - Preparing for Succession: Responsibilities of the Younger Generation (6:14)
Section 4: Planning for Success
4.1 - My Opinion on Business Plans: Will it Make a Difference? (12:53)
4.2 - The Business Plan: The Cover Page and Table of Contents (3:06)
4.3 - The Business Plan: The Executive Summary (5:40)
4.4 - The Business Plan: Company Description (5:18)
4.5 - The Business Plan: Industry, Target Customer and Competitor Analysis (5:16)
4.6 - The Business Plan: Product/Service Plan (4:41)
4.7 - The Business Plan: Marketing Plan (7:28)
4.8 - The Business Plan: Operations and Development Plan (6:20)
4.9 - The Business Plan: Management Team (4:22)
4.10 - The Business Plan: Critical Risks (5:01)
4.11 - The Business Plan: Offering (4:08)
4.12 - The Business Plan: Exit Strategy (2:56)
4.13 - The Business Plan: Financial Plan (5:13)
4.14 - Questions That Investors or Lenders Might Ask (5:39)
4.15 - My Advice For Writing a Business Plan Pt 1 (6:42)
4.16 - My Advice For Writing a Business Plan Pt 2 (4:50)
4.17 - Should You Create A Marketing Plan? (5:02)
4.18 - The Formal Marketing Plan: Market Analysis Pt 1 (10:18)
4.19 - The Formal Marketing Plan: Market Analysis Pt 2 (5:00)
4.20 - The Formal Marketing Plan: The Competition (6:37)
4.21 - The Formal Marketing Plan: Marketing Strategy - The 4 P’s of Marketing (8:44)
4.22 - The Four P’s: Product (9:43)
4.23 - The Four P’s: Place (11:15)
4.24 - The Four P’s: Price (8:55)
4.25 - The Four P’s: Promotion (4:12)
4.26 - Marketing Research: 4 Steps (9:40)
4.27 - Market Segmentation: Benefit and Demographic Variables (6:43)
4.28 - Market Segmentation: Unsegmented Example (5:22)
4.29 - Market Segmentation: Multi-segment Example (9:45)
4.30 - Market Segmentation: Single Segment Strategy (7:03)
4.31 - Market Potential: Sales Forecasting (7:41)
4.32 - Location, Location, Location: Site Selection for Your Brick and Mortar (9:15)
4.33 - NNN, TI, and Lease Negotiations (14:05)
BONUS: Business Plan Template (Download)
Section 5: Legal and Finance
5.1 - Legal Organization (A Maze of Choice) (3:16)
5.2 - Sole Proprietorships PROS & CONS (9:15)
5.3 - Partnerships - My Advice (5:53)
5.4 - Partnerships - Joint Several Liability and Termination (7:22)
5.5 - C-Corporation Entity Structure (An Artificial Being) (21:24)
5.6 - Comparing Entity Structure: Many Variables (5:36)
5.7 - Comparing Entity Structure: Many Variables (Part 2) (19:10)
5.8 - Comparing Entity Structure: Income Taxes (11:18)
5.9 - LP, S-Corp, LLC’s, (9:23)
5.10 - Professional Corps, Non Profit, B-Corp (6:55)
5.11 - My 2 Cents on LLC and S Corps (Avoiding Self Employment Tax) (7:17)
5.12 - An Alternative to a Board of Directors: The Advisory Board (5:11)
5.13 - Financing: Bootstrapping (Using Profits) (8:11)
5.14 - How SBA and Government Loans Work (3:33)
5.15 - SBA Loans: 7a and 504 (6:25)
5.16 - SBA Loans: 7M Microloan (2:53)
5.17 Interest Rates and Term of the Loan (9:36)
5.18 - Financing: Using a HELOC to Fund Your Business (6:50)
5.19 - Loan or Business Line of Credit (7:08)
5.20 - GREAT Option: (SBA Express) (3:20)
5.21 - Financing: Secured Loans (TRICK Using Your Vehicles) (4:32)
5.22 - Financing: Friends and Family (2:23)
5.23 - My Opinion on Financing the Start (5:17)
5.24 - IMPORTANT Reminder About Business Lines of Credit (3:03)
5.25 - Insurance: 15 Minutes Could Save You… MORE THAN 15% (10:49)
Section 6: Knowing Your Numbers & Financial Statements
6.1 - Numbers Intro/Warning (4:33)
6.2 - Snapshot VS Story (3:35)
6.3 - Lemonade Math: Assets = Debt + OE (8:17)
6.4 - Lemonade Math: The Balance Sheet: Inventory (1:43)
6.5 - Lemonade Math: The Balance Sheet - Opening Day (7:08)
6.6 - Lemonade Math: The Balance Sheet - Accounts Receivable (0:38)
6.7 - Lemonade Math: The Balance Sheet -The Second Day of Business (7:08)
6.8 - The Income Statement: Overview (7:07)
6.9 - The Income Statement: An Example (6:45)
6.10 - The Income Statement: Summary (3:51)
6.11 - The Balance Sheet: Assets = Liabilities (What YOU Really Need to Know) (8:22)
6.12 - The Balance Sheet: Current Assets (4:40)
6.13 - The Balance Sheet: Working Capital Cycle (5:23)
6.14 - The Balance Sheet: Fixed Assets (PPE) (5:01)
6.15 - The Balance Sheet: What is Depreciation? (5:33)
6.16 - The Balance Sheet: Current Debt and Short Term Liabilities (3:35)
6.17 - The Balance Sheet: Long Term Debt (0:41)
6.18 - The Balance Sheet: Retained Earnings & Owners Equity (3:34)
6.19 - Bottom Line: What Questions the Balance Sheet Answers (5:08)
6.20 - The Snapshot VS The Story (The Income Statement / P&L) (3:15)
6.21 - Profit and Loss Statement (0:20)
6.22 - Income Statement VS Statement of Cash Flows: The Difference (2:24)
6.23 - Accrual VS Cash Basis Accounting (6:33)
6.24 - Ways to Reduce Your Cash Flow Problems: Lower Accounts Receivable (6:30)
6.25 - Accrual is Standard But Cash is King! (1:25)
6.26 - Lemonade Math: Example of Cash Flow: 3 Cash Flow Activities (4:49)
6.27 - Financial Statements are the Triage of Your Business (2:42)
6.28 - Evaluating a Business’ Financial Performance: Liquidity (3:58)
6.29 - Evaluating a Business’ Financial Performance: Profitability on Assets (6:31)
6.30 - Evaluating a Business’ Financial Performance: Debt Financing (5:33)
6.31 - Evaluating a Business’ Financial Performance: Return on Owners Equity (7:10)
6.32 - Tax Strategy (3:39)
Section 7: Grow, Finance, and Sell Your Business
7.1 - Should You Grow? (Finances) (6:32)
7.2 - Should You Grow? (Your Why and Personal Life) (6:20)
7.3 - The Product Life Cycle (7:06)
7.4 - How to Extend the Date of Death (3:38)
7.5 - Brand Identity: Brand Image (5:06)
7.6 - Brand Identity: Brand Name (7:32)
7.7 - Brand Identity: Brandmark (6:51)
7.8 - Trademarks (5:46)
7.9 - Patents (7:51)
7.10 - Copyrights (6:10)
7.11 - Channels of Distribution (4:43)
7.12 - Choosing Your Channel (6:34)
7.13 - Trade-Offs Between Debt and Equity (5:21)
7.14 - Example: Trade-Offs Between Debt and Equity (5:02)
7.15 - The Banks Perspective: The 5 C’s for Getting a Loan (3:41)
7.16 - Selecting a Banker? Credit Unions (4:55)
7.17 - Loans: Interest Rate and Prime (3:31)
7.18 - Loans: Warning About Loan Maturity Date
7.19 - Loans: Balloon Payments Could Bite You! (5:06)
7. 20 - Loans: Covenants (5:20)
7.21 - Accounts Payable: Trade Credit (3:28)
7.22 - Equipment Loans and Leases (8:39)
7.23 - Asset Based Lending (4:50)
7.24 - Crowdfunding (6:00)
7.25 - Financing: Angel Investing (6:05)
7.26 - Financing: Venture Capital (4:23)
7.27 - Harvesting The Business (5:07)
7.28 - Selling the Business (4:01)
7.29 - Selling the Business: Strategic Buyer (4:54)
7.30 - Selling the Business: Financial Buyer (5:29)
7.31 - Selling the Business: Employee (5:58)
7.32 - Distributing Cash Flow (7:19)
7.33 - IPO (7:24)
7.34 - Private Equity Recapitalization (3:43)
7.35 - The Harvest Framework (9:56)
7.36 - Strategy: Cost VS Differentiation Based (6:30)
Section 8: Become a Marketing Machine: Customers and Advertising!
8.1 - Focus on the (Existing) Customer: 5 Reasons Why (5:38)
8.2 - Customer Service Leads to Customer Satisfaction (2:57)
8.3 - Customer Satisfaction: Personal Attention (7:40)
8.4 - Customer Satisfaction: Customer Experience Management (9:31)
8.5 - Customer Satisfaction: After the Sale (3:47)
8.6 - Customer Satisfaction: Evaluating Your Business (8:00)
8.7 - Customer Satisfaction: Unhappy Clients (6:56)
8.8 - Customer Satisfaction: The Importance of Surveys as You Grow (2:41)
8.9 - CRM: The Brain of Your Business (3:59)
8.10 - CRM: Customer Intelligence (3:10)
8.11 - CRM: Segmentation and Tagging (7:18)
8.12 - Customer Lifetime Value (4:35)
8.13 - Influences of Consumer Behavior (2:05)
8.14 - The Decision-Making Process (4:13)
8.15 - Setting a Price: Your Greatest Lever (6:38)
8.16 - Setting a Price: Average Pricing Caution (3:49)
8.17 - Setting a Price: Loss Leaders (3:18)
8.18 - Setting a Price: The Freemium Model (3:14)
8.19 - Elasticity of Demand (8:12)
8.20 - Prestige Pricing (3:35)
8.21 - Setting a Price: Whole Foods VS Walmart (3:36)
8.22- Setting a Price: Graphing Break-Even Analysis (7:29)
8.23 - The Importance of Keeping a Handle on Fixed Expenses (Equation) (4:07)
8.24 - Setting a Price: The Sweet Spot for Profitability (3:49)
8.25 Setting a Price: Markup Price (2:24)
8.26 - Creating a Price Strategy (7:32)
8.27 - Creating a Price Strategy - Part 2 (6:01)
8.28 - Price VS Value Balance: Creating Virality! (8:20)
8.29 - Supply and Demand Curve: This Changed My Life (6:48)
8.30 - Promotions (fancy word for marketing) (5:25)
8.31 - 4 Ways to Determine the Promotional Budget (7:16)
8.32 - Your Small Business Website: Design Guide (20:35)
8.33 - Social Media: Connect, Don’t Overpromote (8:02)
8.34 - Social Media: Make Platform-Specific Content (3:45)
8.35 - Social Media: Which Platform is Your Target Market Living On? (3:22)
8.36 - Money OR Time: Which One Do YOU Have? (3:37)
8.37 - Coupons (The Customers Addiction) BedBathBeyond (4:07)
8.38 - Owning Versus Renting Brand Awareness (6:24)
8.39 - Free PR (Public Relations) (6:15)
8.40 - Inbound Content VS Outbound Sales (7:23)
8.41 - Email Marketing: Reducing the Friction of the Sale (One-Click Estimates) (8:43)
8.42 - The Marketing Funnel: CPC, CPL, CAC (10:00)
8.43 - Test the Platform and Timing of Offers (2:38)
8.44 - Should You Hire a Marketing Agency? (6:35)
8.45 - Play the Hot Hand - BUT Do Not Rely on ONE Channel (4:04)
8.46 - Telling a Story: Branding (2:31)
8.47 - Marketing During a Recession (2:32)
8.48 - CAC: Customer Acquisition Cost (5:59)
8.49 - LV: Lifetime Value of the Customer (3:39)
8.50 - LV: Determines Growth and Burn Rate (3:46)
8.51 - Direct Response Marketing VS Branding (6:10)
8.52 - Print, Social, Search? What Resonates with YOUR Customer? (10:06)
8.53 - Warning About Major Advertising Media (8:11)
8.53 - Upselling (11:36)
Section 9: Hiring the Right People
9.1 - The Psychology of an Employee (Risk Adverse) (7:53)
9.2 - The Hiring Process (14:34)
9.3 - Help Wanted: Advertising for Hires (7:34)
9.4 - Job Descriptions (7:45)
9.5 - The Hiring Funnel (4:45)
9.6 - The Phone Screening Interview (4:30)
9.7 - The In-Person Interview (7:34)
9.8 - The One Question to Ask at Every Interview (3:01)
9.9 - Topics You Can’t Legally Breach in an Interview (8:45)
9.10 - The Job Offer: Selling Them on YOU (3:45)
9.11 - Drug, Background and Other Minimum Standard Tests (4:58)
9.12 - Employee Handbooks Are a MUST (6:30)
9.13 - The Job Offer: Compensation Agreements (4:03)
9.14 - Sending the Job Offer (5:47)
9.15 - Orientation Days: Why Do We Celebrate When People LEAVE? (3:24)
9.16 - 0-20 Employees: Orientation Day (8:09)
9.17 - 20+ Employees: Orientation Day (7:28)
9.18 - Why References are 90% of the Decision (7:32)
9.19 - Training and Development: Reviews and 1-on-1’s (8:32)
9.20 - How to Avoid Legal Issues When Hiring/Firing (6:53)
9.21 - How to Tell Your Team That Someone Was Fired (6:39)
9.22 - Explaining P4P to New Hires (7:10)
9.23 - Salaries, Commissions, Hourly (8:05)
9.24 - Profit Sharing for Front Line Staff (8:37)
Section 10: Leadership, Culture, and Management
10.1 - “You Raise Me Up” - This Is What Leadership Is (5:47)
10.2 - Steve Jobs is Not Your Role Model (7:24)
10.3 - Leadership Styles
10.4 - Micromanagement VS Empowerment (8:14)
10.5 - Leading By Example: Culture Drifts Towards the Style of the Founder (2:48)
10.6 - Hiring Based Upon Cultural Fit Not Experience (4:45)
10.7 - The Hardest Step: Entrepreneur to Professional Manager (6:37)
10.8 - 4 Organizational Stages of Small Business Growth (7:35)
10.9 - Cultural Drift (5:12)
10.10 - Working ON The Business, Not In It (6:29)
10.11 - Delegating Authority: My Tips (4:51)
10.12 - Managerial Responsibilities: Strategic Planning (4:59)
10.13 - Managerial Responsibilities: The Chain of Command (5:08)
10.14 - Stages of The Control Process: Fixing Operational Issues (5:05)
10.15 - 2 Ingredients to Get Employee to Think Like Owners (4:30)
10.16 - P4P: What It Is and Why It is Needed (38:05)
10.17 - P4P: Developing Your System (Quality and Quantity Balance) (6:34)
10.18 - P4P: Overtime and Minimum Wage (4:03)
10.19 - P4P: How to Write a Compensation Agreement (2:38)
10.20 - P4P: Example of REAL System (3:23)
10.21 - Paying Managers and Key Employees (Profit Sharing Warning) (7:59)
10.22 - What is Open Book Management? (9:04)
10.23 - Actions as Close as Possible to Incentives: DAILY (3:22)
10.24 - Scoreboard and KPIs: Tracking Progress (5:05)
10.25 - Creating a Culture with a BHAG and WHY (2:33)
10.26 - My Tips on Successful Team Meetings (3:43)
10.27 - Offsite Meetings to Spur Cultural Development (5:00)
10.28 - Offsite Meetings: DO NOT DO (2:34)
10.29 - Peer Reviews (6:15)
10.30 - Firing Sets the Standard for Culture and Expectations (1:38)
10.31 - Investing in the Future of Your Front Line Employees (Education and Upward Mobility) (5:39)
Bellingham Landscape Summit | Bonus Content
Create the Offense, Defense and Special Team for Your Business
Recession: Threats and Opportunities (55:35)
Step Aside Robots (57:52)
The Most Profitable Size for Your Business (78:09)
Expect the Unexpected (49:27)
Everything You Can Learn From Close Ratio (81:47)
Consulting Calls | Bonus Content
Growth Using General Managers and Multi-Locations (64:46)
Laid Off and Needing to Start and GROW FAST (36:34)
Solve This: Spending $20K in Marketing and a $350 CAC (45:04)
Flat Rate Billing, Compensating Your Trainers, and Partner Distributions (56:56)
Cutting Out Low Margin Services at $300K/Yr (64:49)
How to Spend $5,000 Per Month in Marketing (67:41)
The Challenge of Going from $500K to $1M (67:58)
Warning Before Starting a Second Location (52:29)
How to Generate More Leads and Stop Wasting Money on Ads! (43:34)
Double a Plumbing Business With These Tweaks to Google Listing (28:40)
Licensing VS Franchising VS Corporate Expansion (57:17)
Starting a Second Location for Window Washing Company (49:39)
Turning Around a 28 Year Old Landscaping Business (49:16)
Creating a Legacy and 12 Location Empire (53:51)
Coaching Call with $3M Business Owner (44:41)
Louisville Landscape Summit | Bonus Content
How to Create a Bullet Proof Estimate System (27:22)
Follow Up Calls: How to Be Cheaper, Faster, Better than the Competition (36:04)
The Journey from Laborer to CEO (31:17)
How to Blow Up Constraints & Unlock Massive Growth (40:37)
How to Focus When Drinking from a Fire Hose (32:46)
The Problem with Watching Mike Andes Content (34:15)
Live Demo of Upcoming Game-Changer (34:15)
Grade Your Company Scorecard (17:59)
Q&A with Mike Andes (44:39)
Studio Lectures | Bonus Content
60 Days from Employee to Owner
The 5 Levels of Leadership
Capacity-Based Growth: The Most Profitable Revenue Markers in Your Business
KPI’s, Using Leverage/Debt, & Decision Making Frameworks (28:14)
Inflation, Wage Price Spiral, and Recessions
How to Exit Your Company (27:55)
Creating Your Organizational Structure to Optimize for Profit (25:48)
What to FOCUS on at Each Stage of Growth (35:48)
7 Things to Know Before Starting a Second Location (28:15)
10 Things I Wish I New to Triple Profits in My Business (30:42)
Pricing Strategy: Growth VS Profit Mode (25:21)
Marketing Channels and Marketing Offers MUST CHANGE! (24:21)
Roadmap to Build a $10M Business in 20 Years (17:01)
Real Estate Investing: Why I Turned Down this $3M Offer (37:23)
How to Save 4 Hours a Day (My Productivity Hack) (11:46)
Facebook Ads Training (15:22)
Putting it All Together: Build a $1M Business Step by Step with $0 (31:29)
6.32 - Tax Strategy
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