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Government Contracts with Kevin Jans

Stick Like Glue Radio #158 On this special episode of Stick Like Glue Radio, I interview Kevin Jans who spent 16 years awarding government contracts to small business owners. According to Kevin, this may – or may not – be another possible revenue stream to pursue. Start by listening to this show!!

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Stick Like Glue Radio www.getjimpalmer.com

On this special episode of Stick Like Glue Radio, I interview Kevin Jans, who spent 16 years working as a government contracting officer. This is a great call on the pros and cons of selling to the government– don’t miss it!

 

Main Questions Asked:

  • What are government contracts, and why would a small business owner consider this as a possible revenue stream?
  • What is a contracting officer?
  • What are some of the unique and cool things you bought during your 16 years as a contracting officer?
  • How does the government market work?
  • Do you shepherd people through the process or take it over for them?
  • What are the pros and cons of selling to the government?
  • If someone is awarded a contract, is this something that is likely to get repeated, or are you always looking for your next contract?

 

Key Lessons Learned:

  • Kevin’s overall mission is to help companies understand how the government market is different.
  • A contracting officer is someone who is authorized to spend our tax dollars and sign a US government contract.

 

Commercial vs. Government

  • The 80/20 rule denotes that, on the commercial side, 80% of the sales are from relationships and 20% from the process.
  • On the government side, the 80/20 rule denotes that 20% of the sales are from relationships and 80% from the process.

 

USA Spending Website

  • The USA Spending website lists the money that businesses can compete for.
  • Figure out the codes for the type of work that you do, and search for opportunities and see who is winning work.
  • Millions of transactions less than $150K go to small contracts.
  • As a small business, you have the opportunities to access small contracts and compete for things that can be easily scaled.
  • If you can figure out what not to chase, then you can figure out what to spend your time chasing.

 

Government Contracts

  • The Federal Acquisition runs government contracts.
  • Don’t think of the government as one ‘giant checkbook’ but rather as 182 agencies that make purchases.
  • Once you understand the nuance of how it works, how you get paid, and how to compete, then you understand the entire federal process.
  • Once you master one sector, then you can replicate your success in others.
  • Government acquisition tends to run counter to the overall economy.
  • You need to understand the risks you are taking in the financial and time investment and decide accordingly.

 

Skyways Acquisitions

  • Skyways Acquisitions is a service provider for government contractors.
  • The organization shepherds people through the process and helps companies find, compete, and win government contracts.
  • The Skyway Connection Community is a place to ask questions, and there is an ‘ask a contracting officer’ forum and training webinars.

 

Pros and Cons of Selling to the Government

Pros:

  • Size and scalability.
  • The fact that it goes counter to the commercial market.

Cons:

  • The application process is a big investment and time commitment.
  • If your business is built on relationships. the 80/20 rule.

 

Repeat Business

  • Once you build your relationship with a government agency and have performed well, then you have credibility within the government space.
  • You will most likely need to re-compete for contracts every 5 years.
  • It is common for companies to win the same contract 3 or 4 times in a row and maintain the contract for decades.
  • Once you are in, you can scale and expand quickly if you act quickly and can adapt.

 

Links to Resources Mentioned

 

Skyway Acquisition Solutions

Save Your Time (book)

The Contracting Officer Podcast

USA Spending

 

Click to Tweet

 

Interested in securing a government contract for your business? Find out how w/ @SkywayAcq @newsletterguru http://www.getjimpalmer.com

 

What are the pros and cons of selling to the government? Find out how w/ @SkywayAcq @newsletterguru http://www.getjimpalmer.com

 

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!



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Be Happy Now!

In this episode of Newsletter Guru TV from my floating office in Maryland, I talk about a powerful interview with Dr. Kenford Nedd, author of his bestselling book; The Time to Be Happy is Now! A great book and I highlight a few of the important messages.



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The Automatic Customer with John Warillow

Stick Like Glue Radio #157 On this special episode of Stick Like Glue Radio, I interview the serial entrepreneur and bestselling author John Warillow on his “Automatic Customer” strategy. A powerful ‘extending call’ with lots of nuggets – don’t miss it!

Visit John at www.BuiltToSell.com

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Stick Like Glue Radio www.getjimpalmer.com

On this special episode of Stick Like Glue Radio, I interview the serial entrepreneur and bestselling author, John Warillow, on his “Automatic Customer” strategy. This is a powerful ‘extended call’ with lots of nuggets – don’t miss it!

 

Main Questions Asked:

  • What led you to write Automatic Customer?
  • Talk about the 5 trends driving the subscription economy?
  • How do companies like Dollar Shave Club and BirchBox make money?
  • Talk about the 9 subscription models.
  • What is the psychology behind selling a subscription?
  • How do you help people get their businesses ready for sale?

 

Key Lessons Learned:

  • Lack of recurring revenue is a factor that can drive down companies.
  • Most people think subscription models are for software or media companies, but John has developed 9 subscription models regardless of the industry.

 

The Subscription Economy

  • Many businesses are moving from the transaction economy to the subscription economy.
  • Examples of businesses that have introduced subscriptions are Starbucks, AMC, and Adobe.
  • Young people want ‘access’ as opposed to ‘assets.’
  • The subscription model locks in customer loyalty as subscribers have already paid up front and won’t be tempted to shop elsewhere.
  • When people subscribe, they want to get their money’s worth and tend to use the service more.

 

Successful Subscription Companies

  • Often the subscription is somewhat of a Trojan horse for a larger sale the company wants to make.
  • Recurring relationships with customers creates loyalty and familiarity.
  • Subscription companies are the platform that other products are bought and sold to that customer group.

 

Dollar Shave Club

  • This company uses the ‘consumables’ model.
  • The concept is that we buy things that run out. Replenishing the items offer no inherent value.
  • This model offers taking an item off your ‘to-do’ list.
  • The consumables model also applies to B2B models such as HP printer cartridges.

 

BirchBox

  • BirchBox sends cosmetic samples every month.
  • This company uses the ‘surprise box’ model and takes a category that people feel passionate about.
  • BirchBox makes money as they get free samples and charge subscribers $10 per month.
  • The business model is getting customers to buy full-size versions of the samples online.
  • Half of the BirchBox subscribers have purchased full-size items on the BirchBox website.

 

Amazon Prime

  • Amazon Prime is the biggest success story when it comes to subscription services as it’s a $4B business.
  • Amazon Prime masks the fact that the subscription causes people to buy more from Amazon.
  • Non-Prime customers spend an average of $500 per year.
  • Prime customers spend $1,500 per year.
  • The act of subscribing causes a behavior that makes customers buy more.

 

Psychology Behind Selling a Subscription

  • Companies approach this model with a 10x mindset. This means that the subscriber gets ten times the value than if they were just buying a la carte.
  • Think about your value proposition and create a subscription offering.

 

Membership Websites

  • Take your expertise and put it behind a pay wall.
  • What do you do better that 99% of people?
  • This model works well for providing advice, council, worksheets, templates, and advisory services.

 

Built To Sell

  • The premise is creating a business that would be attractive to an acquirer whether you want to sell in a year’s time or in twenty-five years.
  • How your business is viewed by an acquirer gives you the ultimate freedom to run your business.
  • Buyers are attracted by financial performance, quality of bookkeeping, growth potential, and monopoly control.
  • The normalization process means you recast your profit and loss so that it appears as though the business is operating under normal circumstances.
  • Structuring your business so it doesn’t rely on you can take years.

 

Links to Resources Mentioned

Built to Sell

Value Builder System

The Automatic Customer

9 Subscription Models (Free E-book)

 

Click to Tweet

What trends are driving the subscription economy? Find out w/ @johnwarrilow & @newsletterguru http://www.getjimpalmer.com

What is the psychology behind subscription models? Find out w/ @johnwarrilow & @newsletterguru http://www.getjimpalmer.com  

 

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!



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Days Off and Multiple Streams of Revenue!

In this episode of Newsletter Guru TV from my boat on the Chesapeake Bay in Maryland I’m chatting with Mike Schnitzius about his businesses and how he’s added multiple streams of revenue to his business. Don’t miss this –pre-birthday weekend video!



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The Retirement Answer Man with Roger Whitney

Stick Like Glue Radio #156 On this special episode of Stick Like Glue Radio, I interview the Retirement Answer Man, Roger Whitney. We talk about getting ready for those ‘golden years’ and how being an entrepreneur has both challenges and opportunities!

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Stick Like Glue Radio www.getjimpalmer.com

On this special episode of Stick Like Glue Radio, I interview The Retirement Answer Man, Roger Whitney. We talk about getting ready for those ‘golden years’ and how being an entrepreneur has both challenges and opportunities!

 

Main Questions Asked:

  • How long have you been known as the ‘Retirement Answer Man?’
  • Is there a different strategy for self-employed people when it comes to retirement?
  • Do you work with entrepreneurs to help them ready their business for sale?
  • When someone is getting their business ready for sale, is there a certain time frame?
  • What are the biggest challenges people face when it comes to retirement planning?
  • Do you have a personal opinion on social security?
  • Are there any special laws or circumstances that pertain to entrepreneurs and retirement?

 

Key Lessons Learned:

  • Roger believes that entrepreneurs are told to think about retirement in a wrong way.
  • If you have forethought, you have a lot more control over a life you never want to retire from.
  • Structure life to where it is more of an enjoyable journey than it is about building up a nest egg and hope it lasts until you die.
  • If you can build a business rather than a job, i.e. a business that can operate without you and has enterprise value, you can create a life of having something of an annuity for the rest of your life.

 

Readying Your Business For Sale

  • From a business owner’s perspective, the steps you would take to sell the business or have it operate on its own are pretty much the same.
  • The steps you take to have your business be an enterprise rather than a sole proprietor not only increases the value of the business but increases the likelihood that you can step away.
  • As a small business owner, there are things you do to minimize your tax bill, but at some point, in order to make your business attractive, you need to do things differently to make your profit and loss look healthy.
  • Roger suggests getting the businesses books in order 3-5 years before the sale.

 

Entrepreneurs Thinking About Retirement

 

  • Think about yourself separately from your business.
  • Entrepreneurs don’t have a lot of ‘don’t go broke’ money as they are used to making bets on themselves.

 

Challenges of Retirement Planning

  • People don’t necessarily understand how much money they need in order to maintain their lifestyle into old age.
  • Decide how you will manage the risks of challenges in the market and uncertainties in your health and inflation.

 

Personal Financial Planning

  • Figure out your 1, 3, and 5-year priorities as a person.
  • Identify your current and future revenue sources.
  • Assess your lifestyle expenses and overheads.
  • Figure out where to invest excess cash flow.
  • Roger uses the ages of 90 for men and 92 for females as the life expectancy point from which to calculate.
  • As you age, plans will need to be adjusted in order to maximize quality of life.
  • The biggest planning opportunity for small business owners with few employees and consistent cash flow is to create a personal pension plan.

 

Social Security

  • Anyone born before 1960 probably won’t have a problem with benefiting from social security.
  • There are ways of solving the social security crisis that aren’t as dramatic as some of the published articles have you believe.

 

Links to Resources Mentioned

Roger Whitney

Dream Biz Academy

Text  ‘LIBRARY’ to 33444 to access Roger’s free resources

 

Click to Tweet

Are you prepared for retirement? Find out everything you need to know w/ @roger_whitney @newsletterguru http://www.getjimpalmer.com 

Entrepreneurs think about retirement the wrong way. Find out why/ @roger_whitney @newsletterguru http://www.getjimpalmer.com    

 

 

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!



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Video

Speaking Tips

In this episode of Newsletter Guru TV from Dallas Texas I share a couple powerful tips for speakers and want-to-be speakers! This one tip will help to make sure you never forget your opening line! Don’t miss this powerful episode.



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More on the Digital Age with Michael Sallander

Stick Like Glue Radio #154 On this special episode of Stick Like Glue Radio, I interview serial entrepreneur and the co-founder of Chicago Digital, Michael Sallander. Michael and his team help entrepreneurs and small business owners build and maximize their online presence. Do not miss this powerful show!

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Stick Like Glue Radio www.getjimpalmer.com

On this special episode of Stick Like Glue Radio, I interview serial entrepreneur and the co-founder of Chicago Digital, Michael Sallander. Michael and his team help entrepreneurs and small business owners build and maximize their online presence. Do not miss this powerful show!

Main Questions Asked:

  • How did you get started being an entrepreneur?
  • Was starting Chicago Digital your first foray into owning a business?
  • What is the most important change an entrepreneur can make to their website?
  • Did you use FrontPage? Was that the precursor for you learning how to do websites?
  • What is Adobe Business Catalyst, and why are businesses using it today?
  • Is Adobe Business Catalyst a high level program or something entrepreneurs can run themselves?
  • Talk about branding, making money, and building lists with websites.
  • How do you advice new clients on how to market, grow, and use their list?

Key Lessons Learned:

  • Michael is a 27 year old entrepreneur who has been working in the web space for 14 years. 
  • Michael started soliciting business in his local area and offering to build small business websites.

Website Must-Haves

  • Have your contact information and a strong call to action above the fold. Any visitor should easily be able to find that information.
  • The intake process for websites comes down to understanding the business and purpose of the website.
  • Some people go in from a designer or developer’s perspective, but you have to look at how it works for your business, sales process, driving new leads, and supporting clients.
  • Clients will go to Michael with what they think they want, but need to realize that they are not the experts within the space and understand the end result. 

Adobe Business Catalyst

  • This is a content management system that is a competitor to WordPress.
  • The audience started out as designers, but today is more a developers’ platform.
  • This is not a DIY solution as you need to have front-end skills.
  • Adobe Business Catalyst is a software as a service model, so you don’t have to set up the servers or back end database.
  • From a developer’s perspective, you can take the front end HTML and CSS skills to build complex websites with great functionality on a secure back end.
  • Businesses like using it because a lot of the features are already plugged in such as CRN, email marketing, hosting a blog, ecommerce, and customer service tickets.
  • The integration saves businesses the cost of having data separate.

Branding, Making Money, and Building Lists with Websites

  • Many things go into building a website such as design, UI, development, marketing, social media, SEO, PPC, and remarketing.
  • Look at what you need to accomplish, then piece together the objectives on and off the website to accomplish it.

Use of Images

  • Having good high-quality images is important, but the size of the image often gets overlooked.
  • The load time of websites affects SEO.
  • More than 60% of load times for websites are images.
  • So much bandwidth and space is being taken up by optimized images. This is a good sign for business owners as this is something they can control.

Links to Resources Mentioned

Chicago Digital
Business Catalyst App Store 
Dream Biz Academy

Click to Tweet

What is the most important change you can make to your website? Find out w/ @chicagodigital & @newsletterguru http://www.getjimpalmer.com   

How can you optimize your website images for the best results?  Find out w/ @chicagodigital & @newsletterguru http://www.getjimpalmer.com  

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!



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Video

Break The Chains Holding You Back!

In this episode of Newsletter Guru TV I talk about how nearly every entrepreneur at one time is chained to their current circumstance and not facing and dealing with this issue will most definitely hold you back ! Don’t miss this powerful episode.



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Beating Fatigue Naturally with Dr. Carri Drzyzga

Stick Like Glue Radio #155 On this special episode of Stick Like Glue Radio, I interview the Functional Medicine Doc, Dr. Carri Drzyzga and we discuss natural ways to beat fatigue and power up so you can grow your Dream Business! Do not miss this powerful show!

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Stick Like Glue Radio www.getjimpalmer.com



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Wealth Rewards Risk – Push The Chips In!

In this episode of Newsletter Guru TV I talk about how highly successful entrepreneurs have a high tolerance for risk, and are more often than not, willing to ‘push their chips’ in to the middle and bet on themselves to win big! Don’t miss this powerful episode.



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