MBA2390 Q&A Wednesday: Should I do a Black Friday Sale?

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 15 November 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Black Friday is undoubtedly one of the biggest opportunities to make a sale and offer jaw-dropping deals to entice potential customers. However, it's crucial to remember that amidst all the noise and countless offers, standing out can be a challenge.

In today’s episode, Omar will be diving into a question from Andrew, who runs a basketball training business and is wondering if he should do a Black Friday sale this year. Omar will discuss the pros and cons of participating in Black Friday sales, especially for businesses in their early stages.

Omar shares valuable insights on how to stand out amidst the noise and clutter, ensuring that your Black Friday deals make a significant impact on your sales and customer relationships. So, if you're considering a Black Friday sale for your own business, click play.

Transcript

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0:00.0	Heyo! Welcome to the $100 MBA show, the place to be to build a business you want with our practical business lessons.
0:16.0	I'm your host, your coach, your teacher Omar Zenhome.
0:19.0	I'm also the co-founder of Webinar Ninja and In a Minute Software Company I started back at 2014.
0:23.8	And today's episode is Q&A Wednesday.
0:25.7	On Q&A Wednesdays we answer a question from one of you, one of our listeners.
0:29.2	If you got a question you want to ask, go ahead and email me over at omar at 100 MBA.net.
0:35.0	Today's question is from Andrew and Andrew asks,
0:37.0	Hey omar, I run a basketball training business.
0:41.0	I sell online courses and materials on helping young and old basketball players.
0:46.8	My question is, should I do a Black Friday sale?
0:49.5	This is my first year of business, so I'm not sure if this is something I have to do and if I
0:55.1	don't do it I'd be missing out on a big opportunity to make some sales.
0:58.9	Appreciate any advice Andrew. Well it's that time of year Black Friday is almost upon us a few weeks from now a couple
1:05.2	weeks from now actually and all the businesses around the world are asking should I do a
1:10.6	Black Friday or Cyber Monday sale well in today's episode we're going to discuss the pros and cons as well as what I recommend,
1:16.4	especially for your first year or two in business.
1:19.2	For some businesses, this is a no-brainer.
1:20.8	Hell yeah, do a Black Friday deal, some businesses not so much.
1:25.0	I'm going to explain which one so you can know which one you fall into, as well as the fact
1:29.0	that how do you actually pull one off that's successful?
1:32.0	Because you can really discount your products and still have a pretty
1:34.9	lousy Black Friday result. So let's get into it, let's get down to business. Black Friday is basically
	...

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