Tara Newman is the Founder and CEO of the Bold Profit Academy and host of the Bold Money Revolution. She joins the show today for a conversation about the importance of remembering why most of us start businesses and seek out entrepreneurship, how common growth strategies can lead to a lack of resiliency, and how service providers can avoid the mindset of selling themselves. This is a great episode for those wanting to make their business work for them and their life, rather than having their life be working for their business.
Key Takeaways:
[3:58] Many of us come to entrepreneurship out of necessity. Tara talks about her diagnosis of Lyme Disease, and how getting COVID-19 also flared up her EB Virus. To heal, she needed proper time and space to focus on her health journey, which having your own business can allow.
[8:00] The pandemic cycle introduced new layers that we hadn’t had to consider before.
This resulted in many of us having to re-engineer our businesses.
[15:26] Why it’s detrimental to condition your reward system to seek likes, followers, and comments rather than true value.
[19:32] Tara explains how the online business model is the most costly thing she has ever seen.
[23:03] Tara is a big believer that you can be a millionaire without having a million-dollar business.
[24:49] There is no regulation for digital advertising and research shows that up to 88% of ad clicks are fraudulent.
[27:45] Publicly held companies are cutting their ad revenue and marketing because they know they can make sales without them.
[38:07] The biggest benefits to having a profit-first framework as a method.
[48:05] What has Tara learned as a wartime leader?
Mentioned in This Episode:
Tara Newman: Why You Don’t Have to Spend a Million To Make It As An Entrepreneur (Episode 243)