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I love Paying Taxes and You Should Too...
17th April 2024 • Small Business Mornings with Pat Miller • Idea Coach Media, LLC
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What's on Today's Show:

Tax Day Reflections: It’s that time of the year again – April 15, the due date for federal taxes in the US. While writing those checks to Uncle Sam is nobody’s idea of fun, I find a deep sense of pride in it. It’s a tangible reminder that my business is growing, and that’s worth celebrating.

Book Recommendations from the Community: We’ve reached out to our community to find out which books have truly transformed their approach to business. This question underlines the importance of gaining multiple perspectives. Whether it's understanding complex tax obligations or exploring new growth strategies through recommended reads, listening to diverse voices can significantly broaden our understanding and enhance our approach to business challenges.

Exciting News – Small Business Owners Community Digital Summit: Mark your calendars for May 1st! We're hosting a digital summit that's all about expanding your audience, speeding up sales, and boosting efficiency. This event is a must for any entrepreneur looking to take their business to the next level. Plus, we have an incredible BOGO offer this week – buy one ticket and bring a friend for free! Don’t miss this chance to grow together.

New Hotline in the Small Business Owners Community: Latest enhancements in the Small Business Owners Community that you won't want to miss.

Thank you for tuning in to Small Business Mornings.

Click here for your 2 week free trial into the community: https://info.smallbusinesscommunity.com/try

Mentioned in this episode:

2 week free trial to SBOC

Transcripts

Speaker:

Good morning.

2

:

It's April 15th, known

as tax day in the U.

3

:

S.

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:

and you know what?

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:

I'm celebrating.

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:

And as a business owner,

you should be too.

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:

Welcome to Small Business Mornings.

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:

I'm your host, Pat Miller, the founder

of the Small Business Owners Community.

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:

Let's talk about what's going

on so we can kick off the week

10

:

with a smile and some confidence.

11

:

Here's what we have on today's show.

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:

Closed captions.

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:

You know, the words on

your TV, they're preferred.

14

:

Like, people would rather

have that than not.

15

:

What?

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:

The Small Business Summit is

getting like momentum big time.

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May 1st is the start of this event

and we have a big ticket offer that

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:

expires probably by noon today.

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So we'll talk about

what's happening there.

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:

Our question of the week, what

is one book You would recommend

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to another entrepreneur.

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We'll need some feedback from

you on that and a recap on the

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latest upgrades inside the SBOC.

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But before we get started, good

morning, Patty, before we get started.

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If you see me leap directly

in the air, like you see cats.

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When they get scared, they jump straight

in the air on top of the refrigerator.

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You've seen that before?

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Nicholas, good morning.

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Great to see you, pal.

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If you see me jump directly, straight up

into the air, it's because this weekend

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was warm, and I work in the basement.

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And suddenly, everything that,

like, crawls, has, like, crawled

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out of its hole all at once.

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This weekend was a

symphony of squishin stuff.

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Spiders, millipedes, falcons,

I have no idea what happened,

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but everything, like, emerged.

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Including mice.

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There were three, but now there's

one that's still hangin around.

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And I feel like Elmer Fudd down here.

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I've spent the GDP of Norway of mouse

traps and bait and mouse stuff to try and

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get rid of this one mouse that's left.

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I've got practically nuclear tipped

missiles floating around in the

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basement here to get rid of this mouse.

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So if you hear me go, ah, and like leap

directly into the air, or you hear Abby,

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like yell, like squeal from the top

of the steps, you'll know that we've

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spotted Chester, the idea mouse running

around someplace here in the basement.

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So that's what to expect in

today's show, unless we hear a

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sudden snap and then rip Chester.

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Thanks for joining.

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Okay, one more thing before we get

started, uh, with the warmer weather.

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I also cranked up the

barbecue this weekend

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That first cheeseburger off the

grill in the spring Man yesterday was

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good a burger a beer Master sundae.

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Oh, man Oh, so good All right.

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Where was I?

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Oh, yeah Mice, right?

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Okay, got it.

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Let's talk about tax day, shall we?

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Let's talk about tax day.

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Because today's the day, April 15th,

the due date for your federal taxes.

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Now, do you like paying taxes?

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No.

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Do I like paying taxes?

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No.

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Do you hate withholding all

year from your income as a small

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business owner to pay your quarterly

estimates or the annual tax?

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No, but I love tax day.

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How does that work?

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Here's why.

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By stroking that check, right?

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Normally cursing while I'll do it.

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I'm going to be real here, but by stroking

that check and paying the feds and the

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state what I owe, I'm reminded that

I'm building a business that's growing.

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I mean, we pay quarterly estimates,

but we still had to pay a little

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bit at the end of the year.

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So in a way we beat

our projections, right?

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And here's the other

thing about paying taxes.

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If I had income specificity, if I

knew exactly how much I was going to

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make, in other words, If I was paid

a salary from someone else, hell no.

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There's, I could not go back.

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I could not go back.

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I think I joined the army before I

would go back and work for someone else.

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No way.

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No way.

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So it can feel really frustrating

to send off that money.

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And yes, no one likes paying taxes,

but to me today, There's just a

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little bit of liberation and a

little bit of celebration to be had.

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So find it.

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Because what's the alternative?

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You gotta pay it anyway.

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So we might as well try and enjoy it

while you watch the show to see if a

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mouse, like, pops up on the desk here and

I freak out like an eight year old girl.

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So, uh, we'll find out together.

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Also a huge shout out to the

bookkeepers of the world and the

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CPAs and our friends in the tax game.

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After today you finally get a break.

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Everyone in the network that I

know that's in this area have,

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they've been working non stop.

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They've been tracking down all of

the paperwork and, I mean, seeing as

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it's just you and me talking here,

paperwork wasn't really good this year.

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I mean, when they had to pull

together all of my paperwork.

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It's basically that one folder

that we all have that we get

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something in the mail Well that

looks taxi Stuff it in the thing.

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I don't even um Oh, wait,

i'm reading it upside down.

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Yeah Yeah, put that in the folder Let

them come on, you know that you do

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it right the file folder gets so big.

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It's got a rubber band around it

Yeah, our poor tax friends have been

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looking through all of our bs for

the last however long You It's like

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52 card pickup for smart people.

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That's what's been going on for our

tax friends for the last few months.

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So as of tomorrow, some of our

tax pro friends are getting on a

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plane and some of the others are

readying for a three day bender.

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I don't know what a tax person would do

for a bender, like a box of wine and some

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unsupervised, not safe for work Microsoft

Excel time, like Is that what they do?

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Whatever floats their boat.

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Thank you for your service.

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Uh, and speaking of that, I was

thinking about this this morning.

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Don't you think the tax preparers

should be included on that essential

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workers list along with military

doctors, nurses, fire, and police?

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I think they, I might put a petition,

a petition together for this because

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their jobs are pretty similar.

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I mean, they are essential workers.

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You gotta file your taxes and

they need many years of training.

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And their work is so important that

if they don't do it right, people go

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to jail and they do something that

you and I would never dream of doing.

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There's no way I could do my taxes.

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There's no way.

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If I had to do my own taxes for the

businesses, it would just be basically

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here, government, just fill it out.

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I don't, I don't know.

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Just tell me how much do I have to give

you so I don't go to jail just here.

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So I think they should

be added to that group.

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Of essential workers.

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So tax preparers.

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Thank you for your service.

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Enjoy your time off doing

whatever it is that you do.

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If you're just joining us, this

is small business mornings.

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I'm Pat Miller founder of the

small business owners community.

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We're having a laugh.

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We're looking forward.

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We're going through the news and we're

getting the week started together.

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So thanks for tuning in.

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And if you're not subscribed to our

YouTube channel, do it because that

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way we'll pop up in your feed and you

won't miss an episode of the show.

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I hate the news.

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And I'll explain why.

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News coverage is not

primarily about informing you.

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News coverage is about

building an audience.

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I'm going to say that again.

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News coverage is not about informing

you, it's about building an audience.

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It's the reason why some of our

news stations blatantly target one

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side of the aisle or the other.

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They're sharing the news, but they're

also trying to build an audience.

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They got to build an audience

to sell ads, to stay on the air.

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It's really the thing we've kind

of known that forever, but here's

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where it really cuts through when you

try and read news on the internet,

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I'm getting ready for today's show.

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And I saw a headline like,

Whoa, how did I miss this?

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You wanna see the headline that I saw?

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I saw this headline.

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Americans will receive a new

500 monthly stimulus check.

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Here are the requirements to receive it.

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Good morning, Emily.

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Oh, hot damn, I better read this article.

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I gotta be prepared for today's show.

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Stimulus checks?

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Really?

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What are the requirements to receive it?

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When you look into the details, you start

to see the story quickly fall apart.

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It literally is just

a clickbaity headline.

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The 500 a month stimulus checks

will be in Evanston, a city

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in Cook County, Illinois only.

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So not the whole country.

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And the program is for one tract of

land, Monty Python joke, in the County.

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And on that tract of land,

only 5, 000 people live there.

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And of those 5, 000 people, you

must have a child under 5 years old.

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And of those children, of those families,

you must have an income below 1.

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84 times the federal poverty line.

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So in the story, it actually

says, well, this is only going to

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have an effect on 140 households.

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Bro, 140 households, Americans

will receive a new 500, blah,

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blah blah, 140 households.

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I hate the news.

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Here's what I'd like to invent.

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Like is there anyone smart on the

call that can invent something?

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'cause I want you to

invent something for me.

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I want to invent a browser that has

a pending click, a pending click.

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Because when you see this kind of story,

and you fall for the headline, and it's

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on some crappy website just so they can

serve me an ad, I want a pending click

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so I can remove my page view from them.

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Nope!

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BS!

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Nope!

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Not taking my click!

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I'm undoing my click.

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Give me it back!

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I think that would really improve

the quality of news coverage.

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Like, you could be de clicked.

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140!

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De click.

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Nope!

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Dope!

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De click.

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Wouldn't that be awesome?

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And here's the thing.

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I didn't find this article in

some dark corner of the internet.

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I found this article on Google

news, which is an aggregator.

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So I guess it does me.

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Like it's my own dumb fault for

looking at it, but this story is so BS.

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I want to de click it I want a

pending click so smart people Maybe

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our tax preparers because they're

smart when they're done preparing

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the taxes and then they drink their

case of white wine Then they can

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go on and invent a de click for me.

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Can you do that?

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I hate the news and it turns out I'm not

alone by the way in hating the news So

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there was a big debacle last night You

If you watched CBS all day yesterday,

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you watched the Masters Golf Tournament,

and then last night, Billy Joel had this

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big special for Madison Square Garden.

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And Abby and I watched it,

and it was really well done.

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It's Billy Joel, we just

don't play enough Billy Joel.

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It's Billy Joel.

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It was great, but I went to bed

early, old, and it turns out that at

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the end of the show he's doing Piano

Man, like the highlight of the show!

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And because the Masters ran long,

Billy Joel ran long, and 10 o'clock

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comes and a lot of the stations on

the East Coast and some in the Central

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Time Zone, they went to the news at

10 o'clock in the middle of Piano Man.

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Oh!

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Oh!

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And now, the internet has changed.

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Angry Billy Joel fans blowing

up angry Billy Joel fans.

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Billy Joel fans, though, are so old

that they actually still watch the news.

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It's like, Hey, you turned off the Oh,

well, what do we have in the news tonight?

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Like we were kind of

waiting for the news anyway.

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But yeah, I'm not alone in

hating the news this morning.

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It's me and Billy Joel fans united

to hate the news this morning.

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If you're just joining us at Small

Business Mornings, I'm Pat Miller, founder

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of the Small Business Owners Community.

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It is a big day for the Small

Business Owners Community because

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we are inching closer to our digital

summit that's coming up on May 1st.

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Now, before I go any further, I

just want to give you a pop quiz.

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On May 1st, we're

hosting a digital summit.

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I had more than one person last

week ask me, is that online?

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Yes, it's on Zoom.

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Digital summit.

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It's on Zoom.

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Okay, so May 1st, Digital Summit.

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Those are our guests and we are

talking about growing your audience

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online, increasing your sales

and having them close faster.

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And we're getting a full blown

AI demo of Microsoft Copilot.

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Good morning, Jennifer.

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So this is going to be a great

show online, May 1st, 9 a.

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m.

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to noon central.

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All of our.

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SBOC members get to go for free.

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Membership has its privileges.

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So if you're not an SBOC member,

hit up smallbusinesscommunity.

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com right now and start

your two week free trial.

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But if you are not a member and you don't

want to join just yet, it's 47 to attend.

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And by like noon today, We are

ending our launch week promo.

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Our launch week promo

was don't go it alone.

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So you buy one, you get one.

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So 47, you and a friend get

to attend the digital summit

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on May 1st, from 9am to noon.

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This event is going to be great because

we're going to do some networking

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and we're going to hear from these

three experts, including Rand Fishkin.

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Now Rand Fishkin falls into the

category of So those of you that have

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been around this mission for a while

where we're connecting small business

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owners, a couple of years ago I brought

a guy to the Idea Collective, uh,

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was, that's what it was called at the

time, conference named Jesse Cole.

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No one knew who he was, the founder

of the Savannah Bananas baseball team.

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He's now Jesse Cole, the founder of

the Savannah Bananas baseball team.

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Well, Rand Fishkin is already a big deal,

but a lot of our folks don't know him yet.

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The founder of Moz and Spark

Toro, an incredible presenter,

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uh, and a really good dude.

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So I'm really excited to learn from him.

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He's going to do his talk.

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On growing your audience online.

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That's what he's done

forever for giant companies.

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And we're going to unlock that opportunity

For small business owners as well and dr.

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Donna smith bellinger on the left there

I've been thinking about her all week

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because i've been working on sponsorships

and programs for the conference in

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october And her talk is sales is not

about wait and see It's about how to

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follow up and how to make sure that

you're being persistent and proactive

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to try and close more sales deals.

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You don't just pitch your sales stuff

and sit back because we've done that.

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Right.

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We do that.

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Where we throw out an offer and then,

well, I don't want to bother them.

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I, I, they'll get back to me

if they want the deal, right?

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Dr.

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Donna Smith Bellinger is going to

teach us on how to be more persistent

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and proactive to get our money.

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And we all know and love JB, Jennifer

Buchholz certified Microsoft trainer.

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She's going to do a full blown demo.

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on Microsoft's Copilot, and what

she did, and this is so smart, JB's

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gonna train us on Copilot with the

free version and the paid version.

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So if you're like me and don't have the

paid version of Copilot, but it auto

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loaded into my ribbon on my computer,

there still are features and benefits

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that you can use Microsoft's AI

Copilot, even if you don't pay for it.

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So she's gonna show us how to get

some value out of that, and then what

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exists behind the paywall, and how

it will pretty much bake us chocolate

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chip cookies or whatever it will do.

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So JB, Dr.

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Donna, and Rand, all together,

May 1st, Digital Summit on Zoom.

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Get your tickets now.

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It is going to be great.

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How about I put up the link so

you can kind of see the tickets.

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There they are.

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So nab that QR code and we'd love

to have you join us at the Digital

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Summit coming up on May 1st.

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I think that QR code is going to stay up.

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Nope, it's not.

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Let's put it back up there while

we talk about the next thing.

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It's gonna be awesome.

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Alright, so what's next?

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Let's talk about recommending books.

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Do you like to recommend books to others?

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I think every great book that I've

read recently Was a referral from

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someone else someone that just said,

you know, hey, uh, have you read blank?

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No, I haven't in fact on my to do list

I've got a list of books that have been

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recommended to me from other entrepreneurs

and it's kind of my reading list So let's

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talk about recommending books to one

another So what book would you recommend

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put it into the chat and I will share

with you The books that were recommended

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to me because I went to my linkedin page

and said, hey friends, uh, what book would

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you recommend to other entrepreneurs?

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And here's what they said.

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Michaela Taylor, great name

by the way, Michaela Taylor.

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I highly recommend reading Fahrenheit 451.

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Didn't expect that one.

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This novel profoundly influenced

my perspective on conformity

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during my final year of high school

and my freshman year in college.

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It elucidates.

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The importance of steadfastly advocating

for one's convictions, regardless of

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societal norms or personal conveniences,

in many ways it parallels the

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entrepreneurial spirit, emphasizing

the necessity of understanding

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risks that may seem unconventional

initially, but ultimately foster

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positive change within communities.

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She used elucidates.

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John Barlow said the E myth revisited

why most small businesses don't work and

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what to do about it by Michael Gerber.

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Great book.

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He said, I have found this book to be a

great read with some pretty solid advice.

344

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It mainly focuses on how most people

starting a business, try to act

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as the entrepreneur, the manager,

and the technician all at once,

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even when their skillset is not.

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May only be in one of these three areas

and it eventually becomes overwhelming.

348

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Nikki Timberlake recommended Atomic

Habits by James Clear, great book.

349

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It outlines how step by step we can change

our mindset to overcome obstacles that

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prevent us from accomplishing our goals.

351

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Shirley Miller, not related, recommended

The Ant and the Elephant by Vince Pacente.

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It's about how we act.

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Our conscious and our subconscious

minds are not working together.

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Vince teaches us how we can

make them work together.

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He's a wonderful speaker

and an awesome person.

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Thank you for that.

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Trevor Kovach, he recommended a classic.

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Dale Carnegie, How to Win

Friends and Influence People.

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You've read that, right?

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Have you read that book?

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No, not, I've, no.

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Have you read that book?

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Should be on your list.

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Uh, he says it teaches anyone

proper listening skills

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:

and to educate themselves.

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:

Very very good recommendation.

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Austin Myers, start with why, of

course that's got to be on the list.

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:

How great leaders inspire everyone

to take action, absolutely.

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One of my go to reads as an entrepreneur.

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Absolutely that is a good one.

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And Christine Ball, The Psychology

of Money by Morgan Housel.

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So what would you recommend?

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What do we have here in the chat?

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Abby.

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Yeah.

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She loves never lose a customer again.

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That was a great, great book.

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And it's one of those books where Abby and

I've been saying off and on for months.

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Yeah.

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We got to install that.

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Yeah.

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We got to install that.

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:

And we haven't installed that yet.

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:

That is a really good book.

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:

Emily's blue ocean strategy.

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:

That's also a good one.

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:

Basically finding opportunity

that's untapped and how to identify

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:

it and what to do about it.

389

:

That's a really good one too.

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:

Emily, thank you for the recommendation.

391

:

So conversations like this,

they, um, get you thinking.

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:

And if you're not reading right

now, it should get you thinking

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:

of, Hey, I'm not reading right now.

394

:

You should be reading right now.

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:

A couple of the things that I recommend.

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:

These are the classics and they all

have to do with delegation and workload.

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:

Who not how by Dan Sullivan.

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:

I go on and on about that book.

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:

Great book.

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:

And buy back your time by Dan Martell.

401

:

Tremendous book.

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:

Both of them about delegation.

403

:

And the last one that I

read really got me thinking.

404

:

The Courage to be Disliked by

Ichiro Kishimi and Fumitaki Koga.

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:

It was man.

406

:

It was really, really good.

407

:

And The Big Leap by Gay Hendricks,

another really great book too.

408

:

So whatever it is that you recommend,

put it in the chat because then

409

:

everyone that watches this show in the

future or catches up with it on social

410

:

media, they'll see your name next to

a recommendation and that'll make them

411

:

go, wow, that Emily, she's pretty smart.

412

:

She recommended a really good book.

413

:

Okay.

414

:

A couple of things to do before

we get out of here, including our

415

:

meme of the But I do want to share

something that I couldn't believe.

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:

And that was watching TV with subtitles.

417

:

Do you watch TV with subtitles?

418

:

Closed captioning?

419

:

Never.

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:

Well, not never.

421

:

Almost never.

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:

There was a survey of 1, 200 Americans

done by a website called Preply.

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:

Asking about subtitles on

TV, not on your phone, on TV.

424

:

50 percent of Americans watch content

with subtitles on most of the time.

425

:

Meaning more than half the time.

426

:

And 74 percent of Gen Z

watches with subtitles.

427

:

What?

428

:

What?

429

:

So I started thinking about it.

430

:

I'm like, okay.

431

:

I know that when I'm Primarily

consuming content on my phone.

432

:

I watch with subtitles because

I don't turn the sound on.

433

:

Cause I don't have my headphones in and

I don't want to hear what they're saying.

434

:

I just want to know what

they're talking about.

435

:

That makes sense.

436

:

But TV and I asked my

kids, one is 21 to 17.

437

:

Is this for real?

438

:

And they're both like, duh, duh.

439

:

I just felt so out of touch.

440

:

Am I the only one that's

surprised by that?

441

:

That.

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:

The majority of people watch TV

with subtitles the majority of

443

:

the time I couldn't believe it.

444

:

Here's where my mind was completely

blown 26 of those surveyed Said subtitles

445

:

wait for it 26 of those surveyed You're

gonna throw something at the screen.

446

:

I'm Okay, before I even tell you

this you're going to throw something

447

:

at the screen Are you ready?

448

:

Grab something here.

449

:

Here are my deep thought glasses.

450

:

I'm gonna throw these at the screen

I you got do you have something in

451

:

your hand to throw at the screen?

452

:

I'm gonna wait I can see you.

453

:

You didn't know I can see you.

454

:

I can see you Okay Do you have something?

455

:

26 percent of the people surveyed

said that subtitles should be

456

:

the default in movie theaters

457

:

Everyone can do what they want,

but subtitles in a movie theater?

458

:

No.

459

:

That's, that's not a thing.

460

:

How about we do our meme of

the week, and then we will,

461

:

uh, get out of here, shall we?

462

:

Meme of the week from our

director of meme, Abby Miller.

463

:

Let's do it.

464

:

This has to do with us raising our rates.

465

:

And this is something I deeply felt.

466

:

Oh, go away, Digital Summit.

467

:

There's your freelancer.

468

:

Oh, I'd like better rates.

469

:

But then you have the worry,

But what if they say no?

470

:

And I never work again?

471

:

Isn't that the truth?

472

:

Oh, I'd like better and, Oh,

but what if I never work again?

473

:

Oh God, it's so true.

474

:

It's so true.

475

:

Thank you, Abby.

476

:

That's a winner.

477

:

Jennifer Andiston recommending Never

Split the Difference by Chris Voss.

478

:

Great book.

479

:

Co author with Ariel Kovach.

480

:

Like a boss.

481

:

Thank you, Jennifer.

482

:

Appreciate it.

483

:

Alright, well let's get out of

here and go business, shall we?

484

:

Uh, I want to drop a few reminders

about the small business owners

485

:

community because we've been sprucing

up the place here for a while.

486

:

Inside the SBOC, uh, we have been

really getting active by adding

487

:

some new features for our members.

488

:

We now have a legal hotline for

our small business owners included

489

:

with their monthly membership.

490

:

We have an IT tech support hotline as

a part of the membership and breaking

491

:

news, we're going to add a third hotline.

492

:

We're getting it set up.

493

:

It's gonna be another big value

add for our members, but a third

494

:

hotline is coming soon to the

SBOC We're talking tech support.

495

:

We're talking legal And one other

big area, HR, one other big area

496

:

that would really serve people where

a lot of questions pop up and you

497

:

don't know if in your hot, if you're

in hot water or not, this third

498

:

hotline is going to be a big deal.

499

:

Add into that our idea slams we're

doing twice a week, every week, our

500

:

Friday finish lines, our interactive

message board, coaches club, AI

501

:

club, speakers club, you name it.

502

:

And we're getting together today.

503

:

So if you're not in the SBOC yet,

Come check us out this afternoon,

504

:

because if you're in the Milwaukee

area, our monthly meetup is happening

505

:

today between four and six at Stories

Frame Photography in Brookfield.

506

:

And if you don't have the

contact information or

507

:

anything like that, hit me up.

508

:

I'll get you the information, but the

SBOC monthly meetup, which is free,

509

:

uh, as a service of the SBOC to connect

small business owners everywhere.

510

:

It's going to be great

this afternoon, 4 till 6.

511

:

Digital Summit on May 1st.

512

:

I need to go hunt Chester the mouse.

513

:

That's my job today.

514

:

I have a mission, and

that mission is Chester.

515

:

At this time next week, I'll let you know

if I actually got the, the, the devil.

516

:

Uh, until then, I will be, uh,

working with my feet not on the

517

:

ground in my basement office.

518

:

I'm Pat Miller, founder of the

Small Business Owners Community.

519

:

Uh, great talking with you this morning.

520

:

Thank you for stopping by.

521

:

Make it a great week as the weather

turns and hopefully we'll see you

522

:

real soon inside the community.

523

:

Take care.

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