TIM411: Can A Referral-Only Business Make $1 Million?

    Today on TIM411, Tim answers the question, "Can a referral-based business reach $1 million in revenue?" He also answers the second part of the question, "Is it sustainable?" Referral-only businesses need solid systems for getting referrals. Your referral network will be your only source of income so you must increase the reach of that network. That's why Tim recommends that you don't rely solely on referrals. You should have multiple sources of customers…

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TIM411: The Truth About Passive Income Gurus Don’t Want You To Know

    Everything you know about passive income is wrong. Today on TIM411, Tim tackles the holy grail of Internet business -- passive income. The people telling you that you can earn passive income while managing a business are either ignorant of what it takes to run a company or they are lying to you to sell you something. In this episode, Tim will share how to actually gain passive income from a business. To…

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TIM411: Management Theory Vs Operational Leadership

    Today on TIM411, Tim rails against management and leadership books. It's hard to know how you should lead when everything you study gives you contradictory advice. Tim focuses on operational leadership -- testing management theory to see if it functions in the field. If a management theory helps you then use it. If it doesn't give you the results you're after then understand, you don't suck, the management theory just isn't right for…

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TIM411: Experimenting With New Ideas

    Today on TIM411, Tim brings up how to get more ideas out into the market quickly. Many entrepreneurs have lots of ideas, but procrastinate because they want to release something perfect. But the best way to learn what the market wants is to test things they may want. If there is traction on the idea then you invest more time and money into improving it. Sometimes testing an idea is as simple as…

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Does Your Mastermind Suck? Here’s How To Tell…

I had a great call with an entrepreneur this morning who is having some trouble with his business and being motivated enough to fix it. I had him focus on business fundamentals -- do the math. If the math works and you've got the energy then stick with it. However, if the math doesn't work then cut your losses. The thing is he told me his mastermind is great. Why didn't this group of people…

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The Ultimate Guide to Making More Money with Fewer Clients (Part 1)

Over the years, I've developed a very good way to make an excellent living delivering high-end B2B services. My goal when I started nearly 18 years ago was to make at least $100,000 with as few clients as possible. I wanted to take at least 12 weeks off and to travel as much as I wanted each year. While my number is significantly more than that these days, the system continues to work. I work…

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TIM411: The 5 Flag Theory To Freedom

    Today on TIM411, Tim shares one of his favorite books, PT by WG Hill. It has helped Tim design a life of freedom -- being able to live, work and play anywhere in the world. This book shared philosophical concepts that opened his eyes to what was possible. Tim always believed since childhood that the world was a beautiful and magical place and he wanted to be able to see it all. Check…

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TIM411: Is A Digital Marketing Agency A Viable Business Model?

    Today on TIM411, Tim answers a question from Caleb, "Is owning a digital marketing/web design agency still a viable business model?" Actually Caleb asked three questions and Tim dives right into them as the questions are close to Tim's heart. Tim's got a lot of experience in running a digital marketing agency, but also shares some of the lessons from his clients in building a successful business. To get more entrepreneurship fundamentals, join…

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How To Spin The Right Plates At The Right Time

STAGE 1: THE BEGINNING $0 TO $1 MILLION I gave a talk at DCxAustin last week called Spinning Plates: How To Scale By Fixing Operations. I covered the first two early stages of growth. In this post I'll cover Stage 1 -- Getting to $1Million. The biggest problems of a Stage 1 business are getting the marketing and sales plates spinning. You've got a product or service, right? But who wants to buy it? You're…

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TIM411: The 22 Immutable Laws of Marketing

    Tim is back with another book recommendation and this one is a classic marketing book that is a must read -- The 22 Immutable Laws of Marketing: Violate Them At Your Own Risk! by Al Ries and Jack Trout. Tim shares the Law of Candor which lowers your prospects defenses. They realize that if you're willing to share a negative about your product/service or company then you're probably telling the truth on the…

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