Shows
ProfitSchoolThe Art of Using AI For FeedbackWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is The Art of Using AI For Feedback. The discussion centers on effectively utilizing AI in the feedback process. Jeff and Mercer stress the significance of being open to feedback to facilitate improvement, regardless of where it comes from. AI's capability to provide objective, data-driven feedback is key, as it can aid in better decision-making. The hosts introduce the concept of creating AI-driven "digital twins" of customers or team members to gain valuable feedback and insights.2025-05-0629 minProfitSchoolVisionary Leadership In AI-First BusinessesWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is Visionary Leadership In AI-First Businesses. The insights shared center on the role of visionary leadership in businesses that prioritize AI. Mercer and Jeff emphasize the importance of providing direction in a world where many seek clarity. Their exchange explores the idea that early adoption of AI necessitates a visionary approach to navigate uncertainties. Main points discussed center on the role of visionary leadership in businesses that prioritize AI. They discuss tactical ways to...2025-04-2928 minProfitSchoolGame OVER. Game ON!Welcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is Game OVER. Game ON! The old ways are over. It's time to embrace the new reality of AI and how it's changing the game. AI isn't just a tool, it's your new teammate. Learn how to effectively collaborate with AI to achieve remarkable results. Stop thinking about effort, start thinking about results. AI can handle the heavy lifting, so you can focus on what truly matters. The future of work is independent and exceptional. Discover how AI resha...2025-04-0830 minProfitSchoolHandling Tension On Your TeamWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is Handling Tension On Your Team. Identifying Tension: Mercer and Jeff discuss various signs of tension within a team, such as missed deadlines, unmet expectations, and individuals feeling nervous about their roles. The Importance of Setting Clear Expectations: They emphasize clearly defining results and expectations to reduce tension and ensure everyone is working towards the same goals. Accountability and Commitment: The hosts stress the need for team members to take accountability for their work and commit to achieving resu...2025-03-2530 minProfitSchoolExecutive Assistants - Do You Still Need One?Welcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is Executive Assistants - Do You Still Need One? Executive Assistants (EAs) vs. Systems: The hosts revisit their differing opinions on the necessity of EAs in today's business world, considering the rise of AI and automation. The Changing Role of EAs: They discuss how the traditional tasks of an EA, such as scheduling, email management, and travel booking, are increasingly being automated or replaced by systems. Capability and Capacity: Jeff and Mercer explore matching tasks with team members based on...2025-03-1830 minProfitSchoolThe Power of Buying ModalitiesWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is The Power of Buying Modalities. Discover the definition and significance of buying modalities in the sales process. Learn about the four key buying modalities: competitive, spontaneous, methodical, and humanistic. Understand how each modality influences buyer behavior and decision-making. Find out how to identify and target different buying modalities in your marketing efforts. Explore the importance of tailoring your sales approach to resonate with each modality. Gain practical tips and strategies for optimizing your sale...2025-02-1831 minProfitSchoolMeasureU - The Origin StoryWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is MeasureU - The Origin Story. Jeff and Mercer share how they transformed two successful brands, MeasurementMarketing.io and DataDrivenU, into a unified platform called MeasureU. The merger initially started with cross-selling products between brands, but customer confusion over multiple logins and support systems prompted a need for consolidation. Their experience launching ProfitSchool on the Circle platform served as a testing ground, proving the viability of a unified community-based approach. Instead of forcing one brand to d...2025-02-1131 minProfitSchoolMergers and Partnerships - Our Perspective After 12 MonthsWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is Mergers and Partnerships - Our Perspective After 12 Months. After 12 months of partnership, Jeff and Mercer share honest insights about their business merger, including the importance of pre-partnership relationships and testing compatibility through smaller projects. They emphasize how specialization has been key to their success, with clear divisions of responsibility allowing each partner to lead in their areas of expertise while remaining flexible in overlapping domains. Both partners acknowledge the challenging learning curve of their first year, including...2025-02-0430 minProfitSchoolExtending the Sales WindowWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is Extending the Sales Window. Extending the sales window involves creating multiple opportunities to connect with qualified prospects rather than limiting yourself to a single interaction or offer. Jeff and Mercer discuss how early communication should qualify prospects' interest, intent, and ability before moving to close, treating each step as a mini-sale. When prospects hesitate, successful salespeople step back, address specific objections, and reframe their offering to match the client's needs and comfort level. Strategic follow-up...2025-01-2830 minProfitSchoolHow to Qualify a Sales ProspectWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer. Today's topic is how to Qualify a Sales Prospect. Sales qualification protects both your time and the prospect's time by ensuring you're working with clients who are truly ready and able to benefit from your services. Early-stage businesses may need fewer qualification steps to gain experience, but mature businesses should implement stricter qualification processes to maintain profitability. Effective qualification examines four key areas: the prospect's interest in solving their problem, their intent to move forward, their ability to implement the s...2025-01-2130 minProfitSchoolBuilding DOP SystemsWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is Building DOP Systems. DOP Framework: Jeff and Mercer explain their system framework - Define (strategy), Organize (tactics), and People (management) - as essential components for effective business systems. System Evolution: They share how systems should remain at 90% completion, allowing room for continuous improvement through feedback and adaptation. Team Integration: Rather than relying on dedicated project managers, effective systems become embedded within the entire team's workflow. Self-Correction: Good systems include built-in mechanisms for identifying and correcting...2025-01-1429 minProfitSchoolGoals for 2025Welcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is Goals for 2025. Top of Funnel Focus: Mercer and Jeff outline plans to strengthen their marketing presence through YouTube channels, aiming for 20,000 subscribers for MeasureU and 5,000 for ProfitSchool. Product-Led Marketing: They emphasize creating marketing content directly from their products, ensuring authentic value delivery while maintaining high production standards. Brand Evolution: MeasureU will expand from pure analytics to broader marketing optimization, while ProfitSchool will build out its product catalog and coaching programs. Team Development: Moving from founder-focused...2025-01-0730 minProfitSchoolEnd of Year RecapWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is End of Year Recap. The Original Plan: Jeff and Mercer share their initial 2024 merger strategy: Q1 for internal combination, Q2 for public announcement, Q3 for ProfitSchool focus, and Q4 for expansion. Revenue Reality: Starting with an ambitious $1.8M target, they adjusted expectations to $1.1-1.2M as the year progressed, learning valuable lessons about realistic goal-setting. Quarter Progression: They outline the year's journey: Q1 (combination), Q2 (integration), Q3 (simplification), and Q4 (unlocking new opportunities). Brand Evolution...2024-12-3130 minProfitSchoolHandling Conflict - I to WeWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is Handling Conflict - I to We. From I to We: Jeff and Mercer share how they transformed personal perspectives ("I") into collaborative solutions ("We"), using their experience of merging separate brands into one unified company. Understanding Different Views: They explain how conflict often stems from different but equally valid perspectives, like their contrasting approaches to using "I" versus "We" in business communications. Market Feedback: External customer feedback helped guide internal decisions, showing how market response can help...2024-12-2432 minProfitSchoolHow to Price Your ProductsWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is How to Price Your Products. Supply and Demand: Mercer and Jeff explain how pricing isn't just about charging more - it's about understanding market dynamics and finding the right balance between supply, demand, and profitability. The Profit Formula: They share a practical approach to pricing: calculate your costs, double it for unexpected issues, then multiply by 3-4x to create the necessary margin for marketing, taxes, team bonuses, and business growth. Value Communication: Price is a conversation...2024-12-1730 minProfitSchoolKeeping Great Team MembersWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is Keeping Great Team Members. Beyond Happiness vs. Engagement: Jeff and Mercer discuss how managers shouldn't focus on making employees "happy" (which they can't control) but rather on creating an engaging environment where team members can thrive and grow naturally. The Growth Factor: The key insight is that people stay with companies as long as they learn and grow. Creating an environment of continuous growth and development is crucial for retention, more than just high compensation. The Abundance...2024-12-1030 minProfitSchoolInformation vs. TransformationWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is Information vs. Transformation. Beyond Just Information: Mercer and Jeff explore how information alone has little inherent value - like a battery without a device to power it. True value comes from the transformation that information enables when properly activated and applied. The Sales Perspective: Rather than selling pure information (which is widely available and often free), successful businesses should focus on selling transformation - the practical application and results that come from implementing that information effectively. Small...2024-12-0331 minProfitSchoolSelling MOR OffersWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is Selling MOR Offers. The essential difference between products and offers: even the most basic product (like ketchup!) can be transformed into a compelling offer with the right positioning and belief in its value. A game-changing insight emerges: Products rarely sell themselves - it's always about the offer. Even Apple's legendary success isn't just about their products; it's about how they present them (remember "1000 songs in your pocket" vs. competitors' "256 megabytes of storage"?). The MOR framework breaks down int...2024-11-2631 minProfitSchoolSimple Ways to Effectively DelegateWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is Simple Ways to Effectively Delegate. The 5W Framework: Revolutionize your delegation approach with the Who, What, When, Why, and What to do After framework, ensuring crystal-clear communication and expectations. Mindset Shift: Adopt a high-value mindset by valuing your time at $5,000 an hour, empowering you to delegate tasks more effectively and focus on high-impact activities. Automation is Key: Embrace the power of automation in delegation, using tools like Zapier to handle repetitive tasks and free up your team's...2024-11-1930 minProfitSchoolAI Update - Where are we now?Welcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is AI Update - Where are we now? AI's Rapid Evolution: From chatbots to integrated business tools, AI has transformed from a novelty into an essential part of modern business operations, mirroring the early days of the app store revolution. Seamless Integration: AI is now embedded in everyday tools like Microsoft Copilot and Google Suite, making it more accessible and practical for businesses of all sizes. Supercharging Creativity: AI excels in brainstorming and content creation, allowing for multiple it...2024-11-1231 minProfitSchoolHow to Build a Better BrandWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is: How to Build a Better Brand. Branding is more than Just a Logo: Jeff initially viewed branding as "fluffy" and hard to measure, but he soon realized its vital role in marketing and culture. He and Chris Mercer emphasize that branding is often overlooked in direct-response marketing but is critical for building long-term trust and credibility. Psychological Shortcuts to Credibility: Branding isn't just about awareness; it's about creating psychological shortcuts that associate your brand with trust and credibility. The...2024-11-0530 minProfitSchoolMore stupid things we do as entrepreneursWelcome back to the ProfitSchool podcast Business Unfiltered with Mercer and Jeff Sauer today's topic is: More stupid things we do as Entrepreneurs. Introduction & Defining "Stupid Mistakes": Jeff Sauer and Chris Mercer humorously dive into the concept of “stupid things” entrepreneurs do—decisions that, in hindsight, could have been handled differently. They emphasize the importance of learning from these mistakes to avoid repeating them. Strategies for Avoiding Repeat Mistakes: Jeff shares the importance of seeking second opinions and recognizing emerging patterns. At the same time, Mercer highlights the role that awareness and planning play in stoppin...2024-10-2931 minProfitSchoolGetting the Most Out of MeetingsWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Getting the Most Out of Meetings. Introduction & Personal Experiences with Meetings: Jeff and Mercer kick off the episode by sharing their mixed experiences with meetings. Jeff emphasizes the context-dependent nature of meetings and how team dynamics play a crucial role in their effectiveness. The Purpose of Meetings & Common Pitfalls: Mercer and Jeff discuss the misuse of meetings, such as scheduling sessions without a clear purpose. Mercer introduces the concept of "headline calls," short 15-minute meetings focused on updates and specific support to...2024-10-2231 minProfitSchoolThe No Buy SurveyWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is: The No Buy Survey Understanding No Buy Surveys: Mercer and Jeff introduce the concept of no buy surveys—a tool to gather insights from customers who showed interest but didn’t make a purchase. This method helps businesses understand buyer objections and adjust strategies accordingly. Key Benefits of No Buy Surveys: Mercer explains how asking simple questions, like why someone didn’t buy, provides valuable feedback directly from the market. He shares successful examples, noting that businesses often guess customer needs when they s...2024-10-1531 minProfitSchoolUse the system to improve the systemWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Use the system to improve the system Systems Are Evolving Tools, Not Static: Jeff highlights the breakthrough realization that systems aren't rigid but should always be open to feedback, improvement, and new ideas. Systems should evolve alongside new technologies for maximum efficiency. Day Zero Culture for Constant Improvement: Taking inspiration from Amazon's "Day Zero" approach, Jeff and Mercer stress that systems should never reach a state of stasis. Embracing a Day Zero mindset ensures that systems can continuously improve and support business...2024-10-0833 minProfitSchoolDeveloping Team CultureWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Developing Team Culture. Defining Team Culture: Jeff and Mercer define team culture as the company's character, emphasizing it's a living, breathing entity that evolves and can be influenced by individuals, especially leadership. Strategic Choices in Culture Development: Mercer discusses the importance of making strategic choices in shaping team culture, highlighting the "trust but verify" principle to encourage accountability and process improvement. Allowing Failure for Growth: Jeff shares his journey from perfectionism to allowing planned failures, emphasizing the importance of letting...2024-10-0131 minProfitSchoolBehind the Scenes: Writing Our First BookWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Behind the Scenes: Writing Our First Book: Initial Thoughts and Experiences: Jeff introduces the topic of writing their first book and the initial challenges faced, including rapid industry changes. Mercer recalls Jeff's earlier work on service stacking and is curious about the process. Strategies for Writing a Timeless Book: Mercer and Jeff agree on focusing on strategies and management principles rather than tool-specific content. Jeff highlights his experience with a book accelerator program and acknowledges the effectiveness of a framework-based book. 2024-09-2432 minProfitSchoolCreating RAD ProductsWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Creating RAD Products: Introduction to RAD Products: Jeff and Mercer introduce the concept of "RAD products," emphasizing the importance of focusing on results, actions, and delivery in product creation. They highlight Amazon's strategic approach to defining results before building products, using the Kindle as an example. Defining Results in Product Creation: The hosts discuss the strategic value of focusing on the result for users, which could include saving time or achieving a specific outcome. They stress the significance of benefits for both...2024-09-1730 minProfitSchoolManagement MistakesWelcome back to the ProfitSchool podcast with Mercer and Jeff Sauer today's topic is Management Mistakes. Topics Covered In This Episode Introduction to Management Mistakes: Jeff Sauer and Mercer introduce the topic of management mistakes on "Business Unfiltered," emphasizing the value of learning from errors to aid others in avoiding similar pitfalls. Early Management Experiences: Jeff highlights his journey from a small team to managing 50 people with no formal training, reflecting on the initial challenges of wanting to be the “cool boss” and the importance of providing structured feedback and coaching. Impo...2024-09-1031 minProfitSchoolSales Discovery Calls and Qualifying QuestionsWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Sales Discovery Calls and Qualifying Questions. Topics Covered In This Episode Introduction to Sales Discovery Calls and Qualifying Questions: Jeff Sauer and Mercer explore the distinct yet interconnected roles of sales discovery calls and qualifying questions, focusing on their importance in business-to-business and high-ticket sales. Understanding Sales Discovery Calls: Jeff elaborates on making sales calls conversational rather than interrogative, sharing strategies such as asking prospects about their business or problems. Utilizing Discovery Calls in Measurement Management: Discovery calls...2024-09-0332 minProfitSchoolFeeding Your Sales PipelineWelcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Feeding Your Sales Pipeline. Topics Covered In This Episode Introduction to Pipeline Feeding: Mercer and Jeff delve into the fundamentals of feeding a sales pipeline, emphasizing the importance of nurturing leads across all funnel stages—top, middle, and bottom. Defining Sales Funnel Stages: Jeff introduces the concept of "small data" for small businesses and stresses optimizing the middle funnel. The duo underscores defining marketing qualified leads and the steps in between funnel stages. Nurturing the Pipeline: The conversation hig...2024-08-2730 min
ProfitSchoolSales vs MarketingTopics Covered In This Episode Distinguishing Sales and Marketing: Mercer and Jeff explore the roles of sales and marketing, highlighting how they intersect yet specialize in distinct functions as businesses evolve. Nuances of Sales and Marketing: The discussion covers the differences between one-to-many (marketing) and one-to-one (sales) approaches, with marketing setting the stage for sales activities. Bridging the Gap: Emphasizing the need for sales skills in marketing, Jeff and Mercer discuss how understanding customer objections and beliefs can enhance marketing effectiveness. Challenges in Integration: The hosts address common issues like marketing and sales silos, poor lead quality, and...2024-08-2030 min
ProfitSchoolThe 5 Year ForecastTopics Covered In This Episode Five-Year Forecasting for Business Growth: Jeff and Mercer dive into the aspirational goals of a five-year business forecast, highlighting potential growth and challenges. They discuss the "paper billionaire effect" and the importance of a solid business model and market competition. Financial Projection Tools: Jeff introduces a spreadsheet tool for tracking revenue growth and explains how to project client gains/losses and retention rates over five years. He emphasizes the value of financial projections in making operational adjustments. Overcoming Fear with a Five-Year Vision: The hosts reflect on the importance of having a clear...2024-08-1330 min
ProfitSchoolHow to Price Your ServicesTopics Covered In This Episode First Pricing Experiences: Mercer shares his initial approach to pricing his WordPress training video site, highlighting the pitfalls of undervaluing work by basing prices solely on creation time. Freelance Pricing Tips: Jeff emphasizes the importance of realistic pricing, advising freelancers to divide their annual income by 500 hours instead of 2000, suggesting a rate of $100/hour to reflect the true value of freelance work. Project-Based vs. Hourly Pricing: The hosts discuss the benefits of project-based or retainer models over hourly pricing. Jeff advocates for these models as they offer more sustainable revenue streams and better reflect the...2024-08-0631 min
ProfitSchoolWhen Should An Owner Take Back The Business ReinsTopics Covered In This Episode Jeff shares stories of business owners who had to reassess and retake control after stepping back when things didn’t go as planned. Mercer and Jeff discuss the pitfalls of delegating without proper planning, emphasizing the importance of implementing mature processes for new opportunities. They highlight the challenge of over-engineering early-stage issues and the value of letting teams learn from their mistakes to foster growth. Jeff addresses the risk of hitting growth ceilings due to the founder's involvement, suggesting strategies like reverse sabbaticals to gain fresh perspectives. Both emphasize the need to set teams up fo...2024-07-3031 min
ProfitSchoolWhat To Do With Business ProfitsTopics Covered In This Episode Mercer and Jeff examine business profits, discussing gross, net, and gross margin, and the implications of effectively managing these profits. They emphasize the importance of reinvesting profits for business growth and stability, highlighting the balance between investment and cash optimization. Next Jeff and Mercer explore strategies for building a strong business team, including effective hiring and the benefits of outsourcing to increase productivity. Managing and separating finances is crucial, they share insights on setting aside profits for personal use and separating personal and business accounts. The duo then discuss diversifying investments across various...2024-07-2331 min
ProfitSchoolFavorite Tools We Are Using NowTopics Covered In This Episode Physical and Digital Harmony: Mercer and Jeff discuss the balance between physical tools like calculators and notepads, and digital tools like AI and SAS software for optimal business efficiency. ClickUp's Versatility: ClickUp is a robust productivity management tool, replacing the need for Slack and Asana by streamlining various business processes. Entrepreneurial Essentials: The duo explores essential digital tools like Zapier for automation and Circle for building WordPress sites, emphasizing cost-effectiveness and efficiency. Community Building Tools: The hosts evaluate several tools for community management, with Circle standing out for its versatility in handling live...2024-07-1630 min
ProfitSchoolHow to Maximize Business CoachingTopics Covered In This Episode Understanding the Distinction: Mercer and Jeff clarify the difference between mentorship and coaching, highlighting the unique value each brings to business growth and personal development. Personal Insights and Experiences: Jeff and Mercer share their journeys with both mentors and coaches, discussing the benefits and challenges they've faced. They emphasize the importance of hiring external coaches to foster broader perspectives. Qualities of Effective Coaches: Good coaches provide accountability, support, and tailored advice, while unqualified coaches can mislead and fail to deliver value. Vetting coaching platforms and ensuring coaches' qualifications are crucial. Patterns of Self-Sabotage...2024-07-0931 min
ProfitSchoolChecking in on our 2024 PredictionsTopics Covered In This Episode 2024 Predictions Check-In: Jeff and Mercer revisit their predictions from six months ago, reflecting on unexpected changes in business trends, especially in layoffs and partnerships. Economic Outlook: The hosts discuss predictions for a flat economy with improved revenues and profits, noting a growing wealth gap and consumer spending trends. AI Advancements: They highlight predictions about AI, including personal AI assistants, steady interest rates, and the increasing role of automation in the workplace. Job Market Impact: AI's integration into various sectors is expected to lead to a 20% reduction in staff, with layoffs influenced by company...2024-07-0231 min
ProfitSchoolUsing Social Media - What's working nowTopics Covered In This Episode Paid vs. Organic Strategies: Mercer and Jeff discuss the importance of balancing paid traffic and organic channels like LinkedIn and Facebook groups. They highlight the shift from organic to paid strategies, with Facebook being a prime example. LinkedIn's Professional Growth: The hosts praise LinkedIn for its focused conversations and engagement opportunities. The platform's growth is attributed to content engagement and organic posting, and note an increase in LinkedIn events and webinars. Comparing Social Platforms: LinkedIn is deemed more effective for professional networking and lead generation compared to Twitter and Instagram. They discuss LinkedIn's potential future...2024-06-2531 min
ProfitSchoolThe Myth of Visionary LeadershipTopics Covered In This Episode Debunking Visionary Leadership: Mercer and Jeff question the myth of visionary leadership, often epitomized by figures like Steve Jobs and Elon Musk. They argue that this concept may not be relevant for most companies, especially small teams. Overuse of the Term "Visionary": Mercer believes that the term "visionary leader" is overused and misused, potentially limiting the growth of small teams. He stresses that effective teamwork and shared goals are more crucial than the presence of a single visionary. Visionaries vs. Integrators: The hosts discuss the roles of visionaries and integrators in business. While visionaries...2024-06-1829 min
ProfitSchoolOrg Charts vs. OPS ChartsTopics Covered In This Episode Definitions and Preferences: Mercer and Jeff define "org chart" and "ops chart," with Jeff preferring an "ops chart" for their business over traditional org or accountability charts, organizing the company around offers, products, and systems. Limitations of Traditional Org Charts: Traditional org charts are rooted in the military hierarchy, making them less effective for small businesses that require fluid roles and quick actions. An accountability chart offers an alternative but still has limitations, such as a lack of specific titles and hierarchy complexity. Nimble Organizational Structures: The hosts highlight the need for small...2024-06-1131 min
ProfitSchoolDealing with Market ChangesTopics Covered In This Episode Navigating Market Dynamics: Jeff shares insights into adapting to evolving market landscapes, drawing from his experience in the entrepreneurial industry. Online Learning Evolution: From in-person teaching methods to navigating the complexities of the modern online course industry, Jeff discusses the importance of continuous adaptation to technological and behavioral shifts. Competitive Strategies: Strategies for thriving amidst competition include niche specialization, evolving delivery models, and refining value propositions to stand out in crowded markets. Simplicity in Progress: Mercer’s simplifying complex concepts like Google Analytics for clients fostered progress and growth, highlighting the importance of st...2024-06-0428 min
ProfitSchoolNegative MindsetsTopics Covered In This Episode Introduction to Self-Sabotage: Exploration of self-sabotaging behaviors among entrepreneurs, highlighting patterns of growth and stagnation. Personal Stories: Mercer and Jeff share candid experiences of self-sabotage, offering insights into its cyclical nature and the potential for transformative growth. Business Perspectives: The hosts examine self-sabotage within the entrepreneurial journey, including neglecting core business functions and pursuing new ventures at the expense of existing ones. Overcoming Challenges: Strategies for identifying and addressing self-sabotage, including the role of coaching in providing objective guidance and maintaining an abundance mindset. Business Evolution: Jeff shares his journey of overcoming self-sabotage...2024-05-2832 min
ProfitSchoolAnnouncing ProfitSchoolTopics Covered In This Episode Profit School Introduction: A venture aimed at aiding small businesses with teams of under 15 members to enhance efficiency and profitability. Entrepreneurial Journey: Insights from Mercer’s evolution from freelancing to team-building. Evolving Collaboration: The duo shared their desire to expand collaborative efforts beyond Google Analytics, exploring new avenues for growth and productivity. Team Management Challenges: Jeff and Mercer delve into managing teams under a "wagon wheel" model, highlighting the difficulties of this structure and its impact on productivity. Scaling Strategies: Transitioning from the "wagon wheel" model to a more streamlined "pit crew" approach, fin...2024-05-2131 min
ProfitSchoolThe Shark Tank TestTopics Covered In This Episode Shark Tank Evaluation: Exploring the "Shark Tank test" for businesses, focusing on the crucial elements of elevator pitches and valuation. Assessing Investment Potential: Jeff and Mercer delve into whether their businesses could attract investment on Shark Tank, contemplating the feasibility of garnering bids from multiple sharks. Entrepreneurial Reflection: Evaluating business potential through the lens of Shark Tank's investment process, Jeff reflects on his own entrepreneurial journey and market viability. Balancing Goals: Wrestling with the dilemma between lifestyle preferences and aspirations for growth, Jeff acknowledges the need for mindset adjustments to align with business...2024-05-1431 min
ProfitSchoolLearning More vs Doing MoreTopics Covered In This Episode Foundation of Growth: Mercer and Jeff delve into the crucial balance between learning and doing in business, both agree it is necessary to apply newly acquired skills. They advocate for setting quarterly priorities for both learning and implementation to foster business growth and maintain a competitive edge. Continuous Improvement: Mercer highlights a transformative approach to business learning—shifting from a focus on being right to prioritizing being "less wrong." He discusses the benefits of revisiting and applying knowledge continuously to enhance skills and insights, underscoring the importance of action and feedback in the le...2024-05-0732 min
ProfitSchoolService StackingTopics Covered In This Episode The Essence of Service Stacking: Discover how bundling multiple services can forge stronger client relationships and ensure repeat business. Mercer and Jeff navigate through the concept of starting with low-risk offers and escalating the value, thereby enhancing client engagement and loyalty. Transitioning Beyond Freelancing: Learn how to shift from the unpredictable feast-or-famine freelancing cycle to securing consistent monthly sales. Innovative Pricing Strategies: Jeff demonstrates how introducing low-risk offers can attract potential clients, setting the stage to upsell them on higher-value services. He shares successful tactics, including offering free value bombs and conducting Google A...2024-04-3033 min
ProfitSchoolStupid Things Entrepreneurs Do Topics Covered In This Episode Overcoming Entrepreneurial Pitfalls: Learn from Mercer and Jeff as they discuss their early business ventures, from running an entertainment newspaper and a bar to owning a nightclub and restaurant. They emphasize the critical mistakes of overworking and under-delegating, underscoring the necessity of building a strong team. Learning from Failures: Jeff and Mercer delve into their failures, including flawed assumptions of success and repeated mistakes. Jeff shares candid stories about ventures such as an ill-fated pool and patio website and a losing dropshipping attempt, highlighting the importance of operational knowledge and recognizing the difference b...2024-04-2334 min
ProfitSchoolThe CFO RoleTopics Covered In This Episode CFO Mindset for Entrepreneurs: Learn how small business owners can adopt the strategic perspective of a CFO, exploring alternatives like advisors or CPAs to fill this pivotal role, enabling even those without an accounting background to make informed financial decisions. The Pillars of Financial Management: Jeff emphasizes the indispensability of organizing financial records through bookkeeping and the maturity journey of investing in professional financial management to safeguard and grow your business. Outsourcing for Efficiency: Discover how outsourcing bookkeeping can streamline your financial processes, ensuring accuracy and freeing up your time to focus on...2024-04-1631 min
ProfitSchoolDo You Need Business InsuranceTopics Covered In This Episode Understanding the Importance of Business Insurance: Mercer and Jeff emphasize the necessity of business insurance to shield against financial losses arising from lawsuits or unexpected events, highlighting its affordability compared to potential risks. Hedging Against Risks: The discussion extends to hedging against unforeseen events, stressing the practicality and relevance of various insurance coverage options to provide peace of mind, which is invaluable. Self-Insurance and Cost Management: Exploring self-insurance for specific business costs and the significance of errors and omissions (E&O) insurance, both hosts stressed the importance of understanding policies, negotiating deductibles, and...2024-04-0930 min
ProfitSchoolMerging Between CompaniesTopics Covered In This Episode Understanding Mergers and Partnerships: The episode delves into the distinctions between company mergers and partnerships, clarifying legal and structural aspects. Challenges and Risks for Brands: Jeff and Mercer discuss the potential loss of brand identity in mergers, cautioning against private equity mergers that prioritize asset-stripping over brand protection. Merger Benefits for Small Businesses: Despite risks, mergers can bring significant cost savings and revenue growth, as evidenced by Jeff’s successful merger experience in the digital marketing sector. Embracing Business Growth through Mergers: Both Mercer and Jeff consider mergers as pathways for growth, emphasizing th...2024-04-0233 min
ProfitSchoolPower of Mindset For Growing Sales Topics Covered In This Episode Mindset's Impact on Sales Growth: Mercer and Jeff emphasize mindset as crucial for business growth, shifting focus from making sales to providing value, highlighting personal journeys from anti-capitalist views to customer-centric approaches. Mindset's Role in Growth: Jeff and Mercer stress mindset's pivotal role in business and personal growth, illustrating with anecdotes how mindset shifts lead to different actions and results, emphasizing its significance over language choice. Ethical Sales and Profit Margins: The discussion delves into long-term business strategies, cautioning against "get rich quick" schemes, criticizing self-serving sales mindsets, and advocating for ethical practices t...2024-03-2632 min
ProfitSchoolCreating New OffersTopics Covered In This Episode Understanding Offers: Mercer and Jeff define offers as essential elements in business, encompassing various ways to pitch products or services, keeping them fresh and engaging for the market. Creating Effective Offers: Reflecting on past approaches, Jeff and Mercer emphasize the need to integrate sales and marketing into offers, packing them with techniques to make them irresistible, ultimately prompting action and ensuring profitability. Evolving Sales Strategies: From one-on-one problem-solving to structured online processes, Mercer and Jeff discuss the evolution of their approaches, emphasizing the importance of traffic, optimization, and customer perspective in crafting effective...2024-03-1932 min
ProfitSchoolManaging ExpensesTopics Covered In This Episode Pruning for Profit: Mercer and Jeff redefine expense management as pruning for profit, emphasizing the need for strategic decision-making rather than mere cost-cutting. Balancing Growth and Profitability: The discussion highlights the balance between investing in growth opportunities and managing expenses to ensure sustainable profitability. Investment Strategy: Insights shared include viewing expenses as potential investments with a focus on returns, as well as evaluating tools based on their potential for a significant return on investment. Personal vs. Business Investments: Jeff and Mercer deliberate on investing in personal time-saving measures versus investments directly impacting business...2024-03-1232 min
ProfitSchoolDelivering Pitches to ClientsTopics Covered In This Episode Understanding Pitches: Mercer defines pitches as personalized offers to clients, focusing on presenting solutions tailored to their needs. Strategic Approach: Jeff emphasizes strategic planning for successful pitches to ensure preparedness and profitable relationships with clients. Sales Importance: Pitching is crucial in sales, with a well-crafted pitch deck being essential for overcoming objections and building trust. Pitching Process: Jeff outlines three distinct stages the discovery call, the pitch itself (meetings with decision-makers), and the proposal, he recommends in-person meetings for higher-stakes pitches. Customization: Jeff stresses the importance of customizing pitch decks and proposals based on client...2024-03-0531 min
ProfitSchoolForecasting TechniquesTopics Covered In This Episode Evolution of Forecasting: Jeff and Mercer discuss using spreadsheet data for revenue prediction and the importance of creating actionable plans within organizations. Adjusting Forecasts for Success: Mercer emphasizes adaptability based on feedback and results. Clear plans with measurable objectives and specific steps are crucial. Sales Forecasting Strategies: Jeff encourages weekly sales meetings for accountability and accuracy and a pipeline grading system to prioritize opportunities. Incorporating Probability into Forecasting: Weekly forecasting is key for trackability and flexibility. Mercer highlights the benefits of considering probability in forecasts. Financial Literacy and Forecasting: Anticipating seasonal revenue fluctuations...2024-02-2732 min
ProfitSchoolDealing with Sunk CostsTopics Covered In This Episode Understanding Sunk Costs: Mercer and Jeff delve into the concept of sunk costs and the sunk cost fallacy, sharing personal anecdotes and reflections on reframing mindsets to overcome this cognitive bias. Impact on Decision-making: They explore how sunk costs influence decision-making in both business and personal finance, emphasizing the importance of recognizing when to let go of unproductive ventures or investments. Opportunity Cost and Fresh Perspective: Mercer highlights the tension between persistence and adaptability, emphasizing the importance of embracing fresh perspectives and recognizing new opportunities, even if it means admitting past mistakes. Value...2024-02-2032 min
ProfitSchoolReinventing YourselfTopics Covered In This Episode New Beginnings: Mercer and Jeff kick off February by reflecting on Mercer's New Year's resolutions and the idea of reinventing oneself. Personal Growth Journey: The podcast delves into the concept of reinvention, which involves transforming one's identity, skills, and habits to achieve new goals in both personal and business life. Breaking Free: Mercer shares his insights on reinventing oneself, stressing the importance of breaking away from past versions of oneself to embrace growth. Time Management: Mercer's reinvention journey involves a shift in mentality towards effective time management, leading to fresh ideas and implementation...2024-02-1331 min
ProfitSchoolExpense vs. Investment MentalityTopics Covered In This Episode Mindset Shift: Mercer and Jeff delve into the crucial difference between viewing business expenses as investments rather than mere costs. Sales Perception: They explore how this mindset shift affects how expenses and investments are perceived during the sales process. Business Growth: Shifting from an expense to an investment mentality can drive successful sales and overall business growth. Time Management: Mercer and Jeff discuss the importance of reevaluating productivity, resource allocation, and prioritization to prioritize growth. Abundance Mindset: They emphasize adopting an abundance mindset in business, particularly concerning investments and sales. Real-World Insights: Mercer...2024-02-0632 min
ProfitSchoolFailing vs Being a FailureTopics Covered In This Episode Defining Failure: Mercer and Jeff Sauer distinguish between failing, which is a natural part of life providing feedback, and being a failure, which is a final identity and emotional burden. Impostor Syndrome: Both speakers share their experiences with impostor syndrome, emphasizing the negative impact of comparing oneself to others and the importance of focusing on personal growth. Personal Growth: Jeff discusses his motivation for success and the importance of stepping out of one's comfort zone to reach your goals while emphasizing the role of mindset in defining failure and success. Masterminds for Growth...2024-01-3032 min
ProfitSchoolTeaching Old Dogs New TricksTopics Covered In This Episode Mercer and Jeff discuss the challenge of staying current in business. They highlight the importance of adapting to new technology while preserving old methods Jeff and Mercer explore the decision to embrace new technology (with a focus on automation and AI) or stick with tried-and-true methods. They discuss strategies for evolving business approaches and team management. Mercer emphasizes staying up-to-date in the digital marketing industry through resourcefulness and networking. They touch on the significance of data-driven marketing, analytics, and using feedback to improve decision-making, and conclude with insights on business growth and adapting to...2024-01-2331 min
ProfitSchoolDeveloping a Financial RunwayTopics Covered In This Episode Defining Financial Runway: The podcast kicks off by explaining what financial runway means for businesses, referring to it as the duration a business can function with its existing funds and expenses. Mercer and Jeff Sauer both measure it in terms of time, like months or weeks, to assess the business's resilience in case of zero revenue. Evolution of Financial Runway: Jeff delves into how the concept of financial runway has evolved. The aim is to have enough funds to invest in the business without being overly cautious, emphasizing the importance of calculated risks...2024-01-1631 min
ProfitSchoolHacks for getting your time backTopics Covered In This Episode Mercer and Jeff discuss the importance of time management, with Mercer emphasizing efficiency and Jeff questioning the need for time hacks due to time scarcity. Both agree that time is a precious resource and share strategies for gaining control over it, although Mercer acknowledges complete control is unattainable. They emphasize the need for a "mental reset" by listing tasks, deciding what to continue, stop, or delegate, and finding ways to increase efficiency. They address the shift from a "maker schedule" to a "manager schedule" and the need to rebalance tasks to boost productivity...2024-01-0931 min
ProfitSchoolGoals for 2024Topics Covered In This Episode Mercer and Jeff Sauer embark on a journey to set and execute their 2024 goals. They categorize goals into financial, business, and personal buckets, and plan to share progress throughout the year. They emphasize continuous goal execution and personal growth, breaking the cycle of setting new goals each year. Personal and Business Balance: Jeff strives to promote his brand, improve relationships, and embrace self-reflection. Mercer seeks to relinquish control and enhance personal connections. Strategies for Productivity: Jeff’s 10x idea revolves around "service stacking" with a book and coaching programs. Mercers’ focus is on lower-ticket offers and...2024-01-0230 min
ProfitSchoolPredictions for 2024Topics Covered In This Episode Economic Challenges and Recovery: 2023 presented economic challenges with layoffs and reduced spending. Hope for 2024 as signs of economic recovery emerge, albeit with a potentially slightly weaker economy. Large companies are preparing for potential downturns by stockpiling resources. Optimism for Economic Turnaround: Jeff is optimistic about a turnaround as the 2023 recession did not materialize. He believes in the possibility of the economy returning to pre-2019 levels. Impact of Rising Interest Rates: Jeff shares concerns about rising interest rates negatively affecting businesses and consumers. There is the expectation that businesses may invest if rates stay low or...2023-12-2632 min
ProfitSchoolLeveraging CashTopics Covered In This Episode Leveraging Cash for Operational Improvements: The podcast kicks off by highlighting the power of cash in enhancing business operations, covering investments in systems, advertising, and employee retention as key areas of focus. Strategic Cash Flow Management: Mercer and Jeff delve into the importance of managing cash flow effectively. They stress the need for maintaining cash reserves to address unforeseen challenges, challenging the notion that cash is merely an expense, and emphasizing its role as an investment for long-term growth. Optimizing Cash Flow and Payroll: The podcast advocates prioritizing a 3-month reserve account to...2023-12-1931 min
ProfitSchoolGetting Outside InvestmentTopics Covered In This Episode Defining Outside Investment: Mercer clarifies outside investment as external cash infusion in exchange for equity, setting the discussion's foundation. Equity vs. Non-Equity Investments: Mercer and Jeff delve into various outside investment forms, stressing the preservation of equity for new entrepreneurs and cautioning against premature equity relinquishment. Investing in Private Companies and Non-Traditional Methods: Jeff and Mercer explore the pros and cons of lending to businesses, with an emphasis on early-stage private investments and the recognition of non-cash contributions as valuable. Entrepreneurship, Investment, and Growth Strategies: They advise building a profitable business before seeking...2023-12-1232 min
ProfitSchoolWhen to Hire a Business CoachTopics Covered In This Episode The Ladder of Coaching: From self-education to expert guidance, the speakers discuss the spectrum of coaching, validating that starting with books and courses can be a stepping stone to one-on-one coaching for more personalized business strategies. Personalized vs. Group Coaching: While group coaching offers a community learning experience, the hosts emphasize the unmatched value of personalized one-on-one coaching in addressing unique business challenges. Overcoming Entrepreneurial Roadblocks: A candid exploration of self-sabotage reveals how the right coaching program can realign business actions with goals, featuring insights from Dan Sullivan’s Strategic Coach program. The In...2023-12-0532 min
ProfitSchoolMinimum Viable ResourcesTopics Covered In This Episode The Concept of "Minimum Viable Resource": Mercer introduces a lean approach to testing business ideas with the least resources necessary, prompting a conversation on cost-effective strategies for validating new business concepts. Smart Resource Allocation: Jeff Sauer recommends utilizing affordable platforms like Fiverr for tasks that require less expertise, maximizing profit margins while keeping client charges steady. Profit-Driven Processes: Sauer reveals a key business insight—distinguishing between contractor labor costs and system costs, a strategy that has led to higher profitability in his ventures. The McDonald's Model for Business: Drawing inspiration from the fast-food gi...2023-11-2832 min
ProfitSchoolOne or Multiple Revenue StreamsTopics Covered In This Episode A Balancing Act: While Mercer muses over the concept of businesses as "money trees" and debates the merit of diversifying income, Jeff stresses the importance of scenario analysis in making savvy financial decisions. Lessons Learned: The conversation gets personal as Mercer shares a youthful foray into multiple revenue avenues leading to losses, and Jeff recounts a 600% business growth spurt contrasted with a sobering drop shipping venture flop. Growth Strategies: Mercer discusses the intricate dance of expanding revenue streams, whether through new brands or optimizing existing ones, while Jeff sheds light on the benefits...2023-11-2132 min
ProfitSchoolPower of Saying NoTopics Covered In This Episode Mercer and Jeff delve into the transformative power of "no" in the entrepreneurial journey, underscoring its pivotal role in sharpening focus and conserving resources. Jeff champions the act of declining as a strategic empowerment, turning the cessation of ineffective initiatives into a source of strength rather than a symbol of failure. The dialogue evolves into the art of prioritization, where Sauer introduces the concept of a "no-yes barrier," a selective filter that ensures only the finest opportunities make the cut. As the conversation deepens, the duo addresses the challenges and techniques of refusal...2023-11-1433 min
ProfitSchoolReinvesting In Your BusinessTopics Covered In This Episode Redefining Reinvestment for Growth: Jeff Sauer distinguishes between investing and reinvesting, stressing the necessity of fueling growth by putting profits back into the business. The discussion sheds light on the common struggles entrepreneurs face due to inadequate reinvestment. Balancing Human Resources and Reserves: A candid dialogue uncovers the pitfalls of over-investing in people over reserves. Both Jeff and Mercer emphasize the significance of setting clear expectations, measuring success, and maintaining a balance to avoid unforeseen financial barriers. Strategic Investment and Resource Allocation: Drawing on the Boston Consulting Group matrix, Jeff illustrates the importance...2023-11-0731 min
ProfitSchoolTime Tracking and Team ManagementTopics Covered In This Episode Differing Perspectives on Time Tracking: Mercer advocates for using tools like Time Doctor, while Jeff Sauer emphasizes trust over tracking. Both discuss the importance of balancing trust and oversight for optimal team management. Contractor Autonomy and Time Audits: Sauer stresses respecting contractors’ autonomy and conducting time audits for employees, categorizing tasks into strategic, tactical, and management areas, aiming for a well-optimized work process. Identifying Efficiency and Role Alignment: Regular time audits are highlighted as a tool to uncover potential inefficiencies, ensuring team members focus on energizing activities, and identifying whether A-players may be ri...2023-10-3130 min
ProfitSchoolManaging and Motivating Top Performers Topics Covered In This Episode Defining Top Performers: Mercer and Jeff Sauer delve into what makes an individual a top performer - individuals who yield significant results with minimum stress, generating exponential ROI. Employee Grading: Jeff introduces the concept of grading employees from A to F, asserting that 'A players' are the ones who redefine roles for the better, while 'F players' may not fit in an organization. Tailoring Management Approaches: Emphasizing the importance of tapping into individual strengths and areas of growth, Sauer discusses the power of two-way communication, giving top-performing employees control, and helping them focus o...2023-10-2432 min
ProfitSchoolEmployee Compensation StrategiesTopics Covered In This Episode 360-degree View on Compensation: Mercer and Jeff dive deep into the intricacies of compensation strategies, explaining its pivotal role in the business realm. Lessons from Mistakes: Both speakers share personal anecdotes of compensation plans going awry, emphasizing the necessity for careful strategizing, and recognizing the value an employee brings to the organization. Sales Bonuses and the 'Moving Goalpost' Dilemma: Jeff delves into the challenges of sales bonuses, particularly how escalating targets can demotivate. Mercer chimes in, noting such shifting goalposts are prevalent in commission-based roles. Variations in Sales Compensation Plans: The episode deciphers the many...2023-10-1733 min
ProfitSchoolHiring Top PerformersTopics Covered In This Episode The Nature of Top Performers: Mercer and Jeff delve into the contentious discussion of whether top performers are born or cultivated, emphasizing the role of an organization in nurturing and utilizing the innate capabilities of top talent. The Minneapolis public school district is highlighted as a beacon of top-performance. Identifying a Top Performer: The podcast sheds light on the traits that define a top performer - an individual who elevates your business to unprecedented heights. Mercer and Jeff also share insightful tips on hiring techniques, including the significance of behavioral questions and pre-interview...2023-10-1031 min
ProfitSchoolRoles vs PeopleTopics Covered In This Episode Defining Roles vs Job Descriptions: Mercer advocates for distinguishing between a person's individual talents and the role they fulfill within a company. This approach aids in crafting a business structure that aligns with proven MBA teachings and successful business models. Concept of Minimum Viable Resource: Discusses the "unicorn" employee who can undertake multiple roles efficiently. A thorough understanding of roles vs job descriptions helps in optimizing the organizational chart and achieving business objectives more efficiently. The Significance of an Organizational Chart: Mercer emphasizes a systems-oriented approach to developing a detailed organizational chart. This...2023-10-0331 min
ProfitSchoolAI How are businesses using it?Topics Covered In This Episode Introduction to AI in Business: Mercer and Jeff discuss the advent of AI in businesses. Focus on Generative AI’s role in brainstorming and content creation. Mention of Bart's utilization of chatbot for various tasks including code rewriting. AI Implementation Strategies: Team's positive approach to incorporating AI tools in operations. AI's role in generating ideas which are then refined by humans before going to market. Mention of the initial draft being significant in the process. Utilizing AI for Technical Tasks: AI aids in identifying and filling gaps in technical work. Mention of BigQuery as a to...2023-09-2633 min
ProfitSchoolWorking With a BookkeeperTopics Covered In This Episode Understanding Bookkeepers: Mercer highlights the essential role of bookkeepers, who manage and organize a company's financial records. Mercer's journey from freelancing to managing his business's finances until 2013 is shared. Cost of Running a Company: Discussion revolves around the monthly service costs of companies, and the value of having a bookkeeper to oversee expenses and financial organization. The Importance of Professional Bookkeeping: The risks of self-managing business finances are presented. Bookkeepers play a pivotal role in monitoring and classifying financial transactions, especially for recurring and regular expenses. Managing Company Divisions: The differentiation between various...2023-09-1932 min
ProfitSchoolContracts How and Where Do You Use ThemTopics Covered In This Episode Definition and Importance of Contracts: A contract is a formal agreement between two parties. It's essential as it offers clarity and protection, especially during disagreements when emotions might run high. Contract vs. Proposal: A contract formalizes all initial discussions while differentiating itself from marketing proposals. A pitch proposal is distinct from a contract proposal, with contracts signifying the onset of a more legal relationship. Master Services Agreement: This is an agreement between two companies, acting as an addendum to their existing relationship. Using it with exhibits can improve client retention. Involving Attorneys in...2023-09-1232 min
ProfitSchoolPricing Mistakes and How to Avoid ThemTopics Covered In This Episode Understanding Pricing Mistakes: Jeff and Mercer delve into common pricing errors, emphasizing the clarity in price display and the pitfalls of misaligned product-market fit. Art and Science of Pricing: Pricing incorporates both artistic intuition and analytical thinking, exemplified by measuremarketing.io's 47-hour course strategy and the value-based pricing approach. Differential Pricing for Varied Clients: The nuances of offering similar services at different price points based on client size and the intricacies of client negotiations. Small vs. Major Business Dynamics: While the majority of product offerings remain consistent, there are distinct differences when catering...2023-09-0532 min
ProfitSchoolManaging for ProfitTopics Covered In This Episode Introduction to Managing for Profit: The podcast begins with Mercer and Jeff discussing the concept of profitability and the critical role of the team in ensuring a profitable business. They emphasize the importance of generating a profit surplus through value exchange in the marketplace. Setting Expectations & Expense Management: This section covers how Key Performance Indicators (KPIs) can be used to manage expectations and performance. Jeff and Mercer introduce the 'five-for-one' marketing approach for a 20% profit margin on every $5 in revenue. They also explore ways to reduce expenses, such as eliminating unnecessary recurring subscriptions...2023-08-2933 min
ProfitSchoolWorking With an Executive AssistantTopics Covered In This Episode Defining an Executive Assistant: We begin with a discussion around the role and value of an executive assistant, the differences between a virtual and an executive assistant, and common misconceptions about having an assistant. Exploring how having an assistant could exponentially enhance your life by freeing up time and resources. The Need for an Executive Assistant: Dive into why executives may require an assistant, how it differs from other roles, and the level of trust and vulnerability required to effectively work with an assistant. Onboarding an Executive Assistant: Discussion on the effective onboarding of an...2023-08-2234 min
ProfitSchoolHacking Project ManagementTopics Covered In This Episode: Defining project management: In this episode, the hosts delve into the concept of project management and how it can be defined. Jeff shares his perspective on project management and its importance in achieving business goals. Project management learnings: Mercer and Jeff discuss their own experiences working together and share insights into the idea of the ideal workday. They challenge the notion of completing tasks and offer a hack to change the language around task completion. Creating a virtual desk: The hosts explain how they established a virtual desk system for their team, including...2023-08-1533 min
ProfitSchoolPlanning Your Ideal Work DayTopics Covered In This Episode: Planning out your ideal workday: In this episode, Mercer and Jeff Sauer discuss the importance of planning out your ideal workday to maximize productivity and accomplish your goals. Balancing time and energy: They explore how to evaluate yourself and be productive by balancing your time and energy throughout the day, aiming to end the day with a sense of accomplishment and energy. The importance of planning for the end of the day: Mercer and Jeff emphasize the significance of planning for the end of the day and how it can be a challenge...2023-08-0832 min
ProfitSchoolSocial Media Strategies for SMBsTopics Covered In This Episode Introduction and Defining Social Media Strategies - The episode kicks off with Mercer and Jeff introducing the concept of social media strategies, focusing on how to overcome "shiny object syndrome" and the importance of choosing one social media platform to concentrate on. Choosing the Right Channel - An exploration of how to pick the right social media channel for your business, with a deep dive into the value exchange on YouTube. Jeff and Mercer discuss the importance of research before selecting a channel. The Value Exchange and Consistency on YouTube - This section...2023-08-0133 min
ProfitSchoolBuying Your Time Back as a Business OwnerTopics Covered In This Episode Discussion on the idea of "buying your time back" as a business owner, with hosts Mercer and Jeff Sauer elaborating on various strategies, including hiring a generalist to balance business operations and how to effectively delegate day-to-day activities. A Practical Use Case: Invoicing - An exploration of invoicing as a perfect example of a task that can be outsourced. This section delves into the mental energy required for such tasks, and the surprising fact that many business owners still handle invoicing themselves. Offloading Tasks: Video Editing and Bookkeeping - Analysis of cost-effective strategies...2023-07-2532 min
ProfitSchoolKeeping SOPs Up To DateTopics Covered In This Episode: In this episode we started with a discussion on Standard Operating Procedures (SOPs), the operating manuals for businesses, highlighting the need for their constant update and distinguishing them from project plans. Jeff and Mercer debated whether SOPs should be attached to every task in a project and explored the balance between trust in an individual's capabilities and following SOPs. The "broken windows theory" with subway cars was brought up as an analogy. They discussed the frequency of keeping SOPs updated, emphasizing the importance of building SOP maintenance into a company's culture. It also b...2023-07-1832 min
ProfitSchoolHow to do Cold Outreach Without being SPAMTopics Covered In This Episode: In this episode we began with a discussion on when and how to generate leads using cold outreach, distinguishing between spam and cold outreach and highlighting the importance of building relationships rather than simply sending messages. The conversation moved to the topic of hiring for cold calling, suggesting a shift from cold calling to account-based marketing. The latter was compared and contrasted with cold outreach. We then delved into how to identify a good copywriter, emphasizing the significance of working with one or two clients at a time and operating on a referral...2023-07-1133 min
ProfitSchoolWhat is the minimum level of team members you need?Topics covered in this Episode: We discussed the significance of defining and sizing a team, as well as strategies to shorten the business runway by hiring outside of comfort zones. We touched on the importance of financial faith in business, mentioning that there is usually money coming in and how this influences decisions primarily related to the founder. The topic of hiring was tackled from an innovative perspective, arguing that hiring employees should be viewed as an opportunity rather than an expense. This concept was further expanded upon with the idea of leveraging a line of credit for...2023-07-0431 min
ProfitSchoolIs Your Business Profitable?Topics Covered in this Episode We discussed strategies for maximizing business profit, emphasizing the importance of margins and differentiating between agency and training business models. The cost of goods sold is mentioned as an ideal 25% to 35% for healthy margins. We emphasized the importance of reinvesting in the business to prevent burnout, suggesting taking 25% of leftover money for reinvestment. We discussed the three ways to get paid: salary, profit, and book value. We also highlighted the distinction between a startup and an agency business model. The conversation moved towards expenses, stating that they are the major expense in the...2023-06-2737 min
ProfitSchoolWhat To Do When Referrals Dry UpTopics Covered In This Episode The episode explores the concept of referrals and differentiates it from word of mouth, emphasizing that successful referrals rely on top-of-mind awareness rather than a standalone strategy. It discusses the role of strategic funnel management and clarifies the inefficiencies of top-of-mind marketing in the early stages, yet shows its importance in generating leads and awareness. We dive into the mechanics of running a referral system, noting that it can be more cost-effective than anticipated and suggesting strategies for tracking referrals and fine-tuning marketing efforts. The discussion covers ways to leverage social media for referral generation an...2023-06-2030 min
ProfitSchoolRemote vs In-Person Teams - Pros & ConsTopics Covered In This Episode Evaluate the Pros and Cons of Remote vs. In-person Employees: Assess your business's needs and resources to decide which work model is the best fit. Consider factors such as flexibility, cost-effectiveness, and team dynamics. Build a Permanent Business by Hiring the Right Talent: Initially, subcontractors might be the way to bootstrap your business, but transitioning to permanent roles will add stability and growth potential. Remote work can offer a higher ROI if managed effectively. Organize Regular Team Meetings: Both remote and in-person teams benefit from consistent, structured meetings. Consider implementing quarterly meetings with team leaders...2023-06-1332 min
ProfitSchoolManaging Team Members With SOPsTopics Covered In This Episode Create a Feedback Culture: Establish an environment that encourages feedback and continuous improvement. This encourages employees to constantly make processes better and promotes a culture of shared ownership and responsibility. Find Your 'Diamond in the Rough': Aim to hire individuals with the potential for growth, those who come in at one level but have the capacity to quickly adapt and excel. This can help you build a capable and dedicated team that will drive your business forward. Empower Your Team: Enable your team to make decisions and improve processes. This not only enhances efficiency and...2023-06-0633 min
ProfitSchoolCreating Proposals For ServicesTopics Covered In This Episode Master the art of proposal writing: Proposals are fundamental tools for business growth. Keep them simple and make sure they succinctly convey the value you're providing. Use sales language instead of contract language and consider a risk assessment for situations when things don't go as planned. Use simple communication tools: Instead of relying on fancy communication tools, focus on clear and straightforward methods. It's important not to skip steps and to follow up consistently. Reinforce value with proposals: Proposals can be a tool to reinforce the value of your business. Whether it's a detailed quote...2023-06-0634 min
ProfitSchoolHow To Get ReferralsTopics Covered In this Episode Implement a referral system that eliminates friction. Lack of one can lead to missed opportunities. Referrals > ads. Referrals often come with higher trust and credibility than ads. Focus efforts on earning referrals by providing excellent service and maintaining good client relationships. Handle departing clients strategically: When a client leaves your company, use these instances as opportunities to ask for referrals, and be mindful of timing when making the request. Leverage super connectors and personal traits: Recognize the role of 'super connectors' in your network and use your personal traits (whether introverted or extroverted) to form...2023-06-0632 min
ProfitSchoolWhen To Create SOPsTopics Covered In This Episode: How to know when is the right time to create SOPs for your business processes (Don't do it too early or too late. Find the Goldilocks moment when you have a proven process and enough people to benefit from standardized procedures.) Keep your documentation simple. Adopt a minimum viable approach to SOPs. Focus on essential task lists or checklists rather than overly detailed plans. Tailor your documentation to different roles and use videos or screen recordings to transfer knowledge effectively. Balance risk and reward: Delegate tasks while considering the potential risks. Foster a culture of t...2023-06-0633 min
ProfitSchoolHiring Remote EmployeesTopics Covered in this Episode: Finding the right job boards and creating a clearly defined job role to find remote contractors who can handle specific tasks or projects. How to test the waters and assess their performance before making a long-term commitment. What you need to know about hiring based on skills and performance (instead of hiring someone who can do the job, focus on hiring someone who is already doing the job or possesses the necessary skills using related tests or assignments.) How you can develop a hiring funnel that filters out candidates so you can interview t...2023-06-0620 min
The Wisconsin PodcastJeff Sauer’s hockey and humanitarian legacy — Bill Brophy — #22Hockey broadcaster and former newspaperman Bill Brophy, a longtime friend of former Wisconsin Badgers Hockey Coach Jeff Sauer, discusses the coach’s career and human impact. Brophy is the president of the Coach Sauer Foundation, which strives to continue the late coach’s passion for providing access to the game.2018-03-0556 min