Tara Newman: Why You Don’t Have to Spend a Million To Make It As An Entrepreneur (Episode 243)

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: