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31 December 2019

The Two Biggest Mistakes Business Owners Make (And How To Avoid Them!)

3Frameworks
6Insights

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Frameworks in this episode

Insights & moments

The myth-busts, hot takes, explainers, and tools worth keeping.

Hot Take· 2

Hot Take06:25

Indecision Is More Dangerous Than a Recoverable Mistake

Jasmine challenges the idea that cautious entrepreneurs can avoid wrong decisions through extended thought. Her view is that action creates lessons and forward motion, while refusing to decide leaves the business stationary and prevents learning.

  • A disappointing decision can still produce useful information.
  • Fear often disguises itself as caution.
  • Learning speed can become a competitive advantage.
  • A short deadline converts an old idea into a real commitment.

“There's no such thing as the wrong decision.”

Jasmine Star · 06:43

“when you don't make a decision, you don't go anywhere.”

Jasmine Star · 07:30
#decision-making#fear#action#entrepreneurship
Hot Take14:49

Your Educational Information Is Googleable—People Still Pay for You

Jasmine argues that educational businesses rarely possess information unavailable elsewhere. Customers pay because they trust a particular teacher, expect that person to shorten the path, and value the teacher's distinctive judgment and delivery.

  • Information scarcity is not the educator's primary advantage.
  • Trust and perceived speed influence the buying decision.
  • Generous public teaching can demonstrate competence.
  • Paid education should offer greater depth and support.

“Everything that you want to sell from an educational perspective is Google-able.”

Jasmine Star · 14:55

“The reason why somebody would pay you for that is because of you.”

Jasmine Star · 15:09
#education#trust#personal-brand#expertise

Explainer· 1

Explainer38:54

Talent Costs Money Now or Training Time Later

Jasmine explains the trade-off between hiring experienced people and developing less experienced ones. Senior knowledge commands more money, while a lower-cost developing hire requires patience because tasks initially take much longer during training.

  • Experience reduces the founder's teaching burden.
  • Lower-cost hires require a larger time investment.
  • Training can temporarily reduce productivity.
  • The long-term return comes from delegated capacity.

“Pay for knowledge. If you ain't got money, you got to pay for it in time.”

Jasmine Star · 39:02

“I'm losing time now to gain five times the amount in the future.”

Jasmine Star · 39:26
#delegation#training#hiring#time

Story· 1

Story03:22

The Question Everyone Wanted to Ask but Didn't

At an investor meetup, Jasmine nearly stayed silent when unfamiliar acronyms and networking advice left her confused. She asked an elementary question anyway and discovered that many other attendees wanted the same clarification.

  • Fear of looking uninformed blocks useful questions.
  • Other people may share the same uncertainty.
  • Questions reveal the field before action is chosen.
  • Social confidence can grow through deliberate practice.

“I can't move on in this conversation if I don't ask.”

Jasmine Star · 04:23

“the quality of your life is determined by the quality of the questions you ask.”

Jasmine Star · 05:04
#questions#networking#confidence#learning

Q&A· 1

Q&A11:57

Should a Multi-Offer Business Split Its Instagram Accounts?

Jasmine advises Leanne to keep services and education together because the current content mix supports her preferred revenue mix. Client work supplies proof that she remains active in the field, while personality and educational content attract the students responsible for most revenue.

  • Start with the current and desired revenue percentages.
  • Let client work function as social validation.
  • Aim most positioning at the largest desired revenue stream.
  • Show personality and expertise instead of merely listing offers.

“The 30% of the content that you're putting out from your client side work just acts as like social validation that you're still in the…”

Jasmine Star · 13:36

“If anything be more of you, if anything, share more of your content.”

Jasmine Star · 15:33
#instagram#revenue#positioning#education

Takeaway· 1

Takeaway01:53

Self-Investment Can Buy Education, Connections, and Access

Jasmine identifies delayed self-investment as one of her largest business mistakes. She argues that owners willing to accept outside investment should also consider directing business funds toward education, capability, and relationships that can accelerate growth.

  • Treat the business as worthy of investment.
  • Buy education and capabilities that can produce future value.
  • Paid access can create relationships unavailable through existing networks.
  • Use performance to turn paid access into earned invitations.

“every time that I have made a considerable investment in my education in myself and in my business, it paid off in dividends.”

Jasmine Star · 01:58

“after you get in that room, be so dang good that they invite you to other rooms that you don't have to pay in.”

Jasmine Star · 03:02
#investment#education#networking#growth