Tropical MBA: Entrepreneurship &amp; Founder Lifestyle

The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients

#783 “It’s easier to 10X than to 2X” + 8 Lessons from CEO Bootcamp Nov 28, 2024

Dan and Ian traveled to Barcelona with 12 other CEOs and founders to spend the week with Scaling Up author Verne Harnish. These are the 8 biggest takeaways from the week that you can apply to your own business.

Chapters:

(00:00:21) Introduction
(00:00:34) Insights from the Barcelona CEO Boot Camp
(00:07:52) The Job to Be Done Framework
(00:12:04) Using the Q4 Method for Customer Insights
(00:14:08) Finding a 10X Cost Advantage
(00:16:51) The Importance of Understanding Your Solution
(00:17:27) Thinking Big: The 10x Mindset
(00:23:27) Wealth Through Transactions
(00:24:54) The CEO's Role in Increasing Valuation
(00:27:29) Defining the Soul of the Company
(00:30:55) Triage for Overwhelmed Companies
(00:34:51) The Power of Scoreboards

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients

#782 Building ‘Brick by Brick’: Goals, Plans, Scorecards, Cadence Nov 21, 2024

Does your business feel stuck in 'idea mode,' constantly jumping from project to project? If you’re ready to get on track and build a more focused, scalable strategy for 2025, this episode is for you.
Dan breaks down his proven 4-step framework for driving your next $1 million in revenue. These actionable steps can be implemented in just a few days, with results you’ll notice almost immediately.
Want to get in the company of other entrepreneurs to help you kickstart your 2025 goals? Submit your application to join Dynamite Circle at https://dynamitecircle.com/

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters
● (00:00:25) Introduction
● (00:03:35) Financially grounded goals
● (00:06:46) Measured plans
● (00:12:52) Intentional cadence
● (00:14:46) Team alignment

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients

#781 “Build It Like You’re Gonna Sell It” Nov 14, 2024

Dan revives his Re-Readables series with a discussion inspired by Frank Slootman's business book Amp It Up. He delves into the book's core arguments, such as the idea that execution trumps strategy, faster execution can drive better decision-making and growth, and the importance of building for investability.

Plus, how exactly to improve your execution and boost your business’s performance.

Amp It Up by Frank Slootman

Want to get in the company of other entrepreneurs to help you kickstart your 2025 goals? Submit your application to join Dynamite Circle at https://dynamitecircle.com/

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters
(00:00:33) Introduction to 'Amp It Up'
(00:04:07) Building a High-Performance Team
(00:11:02) The Case for Fast Growth
(00:15:14) Building for Investability

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients

“The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients”

#780 How do you grow from 7 to 8 figures? Nov 07, 2024

Dan & Ian talk to Lucas Peters, founder of Journey Beyond Travel, about his plans to get to $10M in 5 years.

They break down the business and shift thinking from a project-oriented mindset to an approach rooted in financial analysis: What are your gross margins? What does it take to aquire a customer? What is your rebuy rate and LTV?

They consider the highest leverage paths to growth.

Want to get in the company of other entrepreneurs to help you kickstart your 2025 goals? Submit your application to join Dynamite Circle at https://dynamitecircle.com/

Chapters
(00:03:08) Business Growth and COVID Impact
(00:04:08) Unique Business Model and Market Positioning
(00:04:47) Sales Process and Customer Engagement
(00:09:04) Revenue Model and Pricing Strategy
(00:13:02) Customer Retention and Repeat Business
(00:13:55) Expansion Plans and Market Opportunities
(00:14:43) Product Development and Cost Analysis
(00:14:56) Maximizing Customer Lifetime Value
(00:23:08) Strategizing Location Development
(00:25:32) Market Potential and Capacity Constraints
(00:31:23) Building a Supportive Team
(00:32:38) Testing New Product Offerings
(00:35:31) Driving Down Product Development Costs
(00:37:53) Final Thoughts and Future Directions

Useful links:
Access our free business resources
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“You’re Gonna Mess It Up The Way Everybody Messes It Up”

“When is my LTV good enough?” + Founder Mode for Bootstrappers

#779 The 3 hats of bootstrapping + Insights from DCBKK 2024 Oct 31, 2024

Dan and Ian discuss the importance of three key executive roles—CEO, COO, and CFO—within bootstrapped businesses, emphasizing the need for founders to embrace responsibilities beyond visionary tasks.
They share insights from this year’s DCBKK and a sneak peek into the upcoming DC Black event in New York.

(00:00:22) Welcome and Introduction
(00:01:03) The Three Hats of Bootstrapping
(00:09:51) Trends from DCBKK Event
(00:12:34) The Importance of Financial Planning
(00:19:30) LinkedIn as a Top Funnel Tool
(00:22:50) Reflections and Future Events

Useful links:
Access our free business resources
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“You’re Gonna Mess It Up The Way Everybody Messes It Up”

“When is my LTV good enough?” + Founder Mode for Bootstrappers

“The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients”

#778 - Agencies vs. Products + What Happened in the Amazon Aggregator Space? Oct 24, 2024

This week’s episode is for the business finance and idea nerds.

We’re joined this week in a business breakdown session with Alexej Pikovsky of Alphawellbrands.com. Alexej raised 4MIL to build a CBD marketplace. They were forced to pivot and have currently acquired an Amazon FBA brand and started up a success agency in the process, the combined revenue of both is on track to be over 4MIL this year.

We’ll dig into the Peter Paul problem– how to choose where to focus your energy when you have multiple businesses?

We’ll also cover his perspective on what happened in the Amazon aggregator space. How did so much capital implode so quickly? (Thrasio raised 3 Billion dollars and provided exits to many TMBA listeners). Is there room for smaller roll-ups that work in 2024?

Takeaways
●
● Transition from a CBD marketplace to an SEO agency and FBA brand.
● The aggregator model faced significant challenges post-COVID.
● Many D2C brands are struggling with profitability and valuation.
● Acquiring the scented candles brand was a strategic move in a declining market.
● The agency provides valuable insights but distracts from brand focus.
● Investor relations are crucial for long-term success and exit strategies.
● The e-commerce landscape is evolving, requiring new strategies for success.
● The agency's role in the overall business strategy is under review.
● Future growth may depend on focusing solely on the brand.

Useful links:
Access our free business resources
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“You’re Gonna Mess It Up The Way Everybody Messes It Up”

“When is my LTV good enough?” + Founder Mode for Bootstrappers

“The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients”

#777 Create and Communicate an Offer (That Doesn’t Suck) in 30 Minutes Oct 17, 2024

Selling your product or service requires using words to convey what you offer. But words alone don’t convert on-the-fence prospects into paying customers. Great conversion copy is a mix of persuasion, UX, and decision-making psychology. Sound hard? We promise it isn’t.

Chris, the founder of Conversion Alchemy, takes us for a deep dive into all things copywriting and how the power of your messaging can impact your business growth, for better or worse.

Plus, he shares a simple five-step copy audit process that transforms agency websites into lead generation machines, with principles you can apply to improve your own marketing collateral.

Tune in for writing tips, principles, and examples you can copy. Newsletter subscribers will get the 5-step worksheet to help you create your own offer in 30 minutes.

Takeaways

Empathizing with the client's problem, understanding your audience's language, and identifying audience awareness levels is crucial for effective messaging.
A clear value proposition resonates with prospects’' goals and increases engagement.
Clarifying what you do and how, backed with empathy, builds trust with potential clients.
Contextual proof enhances credibility and addresses objections, creating a smoother client experience.
Shielding clients from risk reassures them during the decision-making process.
The “coffee table test” helps tailor messaging to the audience.
AI can assist in drafting copy but should not replace personal insights.
Tripwire products can effectively lower barriers to entry for clients.
Analyzing successful agency websites can provide valuable insights.
Dynamic frameworks for copywriting are more effective than rigid formulas.
Leveraging testimonials can significantly boost credibility.

Useful links:
Access our free business resources
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“You’re Gonna Mess It Up The Way Everybody Messes It Up”

“When is my LTV good enough?” + Founder Mode for Bootstrappers

#776 The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients Oct 10, 2024

Dan and Ian talk to 100s of listeners a year via 1:1 coaching. In this episode they distill those calls into 4 breakthrough ideas that can change your quarter for the better.

Newsletter subscribers will get our GPS (Goals/Plans/Systems) worksheet. Sign up for the newsletter.

Takeaways
● Be sure you pack enough underwear for your next trip abroad.
● Getting aligned on goals is easy, but aligning on plans is hard.
● Hiring should be based on unique business needs, not generic roles.
● Confidence is essential for entrepreneurs, especially in challenging times.
● Discipline in financial management is crucial for sustainable growth.
● Regularly reviewing financials helps maintain business health.
● Accountability in coaching can drive significant progress.
● Sacrifices are often necessary to achieve business goals.
● Effective hiring requires a clear understanding of ROI.
● Facing reality and challenges can build confidence.
● Entrepreneurship allows for a lifestyle designed by personal choice.

In honor of traveling to DCBKK this week, here’s Dan’s original packing list from 2010. And an updated list in 2015. Is it time for a new list?

Chapters

(00:00:59) Dan’s Packing List Ahead of DCBKK
(00:02:28) 4 Breakthroughs From Our Coaching Calls
(00:05:20) The Importance of Goal Alignment
(00:09:54) Hiring for Unique Situations
(00:16:36) Good Confidence vs Bad Confidence
(00:21:03) Discipline in Entrepreneurship

Useful links:
Access our free business resources
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“You’re Gonna Mess It Up The Way Everybody Messes It Up”

“When is my LTV good enough?” + Founder Mode for Bootstrappers

#775 A Business Idea That Might Actually Work Oct 03, 2024

Dan considers why many of us are resistant to a certain type of business idea even when it’s been proved time and time again.

He’ll also explore that often what stands between your business and positive change is some structured thinking.

Lastly, we’ll hear from a listener who’s working to take his lifestyle brand to $1M and what his plans are to get there.

Featured in this episode:
Founder Robby McClung of the McClumsy lifestyle brand.

This week’s episode brought to you by Smash Digital. They’ll build you a scalable SEO growth strategy to earn the juiciest high-authority backlinks on earth. No, really.

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“You’re Gonna Mess It Up The Way Everybody Messes It Up”

“When is my LTV good enough?” + Founder Mode for Bootstrappers

#774 “You’re Gonna Mess It Up The Way Everybody Messes It Up” Sep 26, 2024

Dan paid big money for a business coach who only gave him one piece of advice. Listen to the episode to find out what it was and if it worked.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters

(00:00:22) The Perfect Storm for Entrepreneurs
(00:03:41) Introducing the System
(00:05:37) Implementing the System in Your Business
(00:06:50) Defining Roles and Outcomes
(00:09:51) The Hiring Process Revolutionized
(00:11:01) Performance Conversations and Team Dynamics
(00:12:53) Leveraging the System for Business Growth
(00:16:37) Recap and Final Thoughts

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

#773 6 Keys to a Successful Bootstrapped Business Sep 19, 2024

Dan & Ian get real about what it takes to create and maintain a successful business. They’ll walk you through their Goals/Plans/Systems (GPS) worksheet that’s specifically designed to help you plan for business growth. They use it with their coaching clients on a weekly basis.

Newsletter subscribers can download and complete their very own GPS worksheet.

Through completing this worksheet, you will:

Discover key insights about the state of your business that you probably didn’t realize before
Define clear goals for your business moving forward
Develop a plan based on your historical data and a cadence for tracking your progress regularly Plus:
Ian talks about his cool and expensive hobby.
We talk about a founder who doesn’t take meetings and still has a profitable business.
We share some insight on how we managed our business during a crucial operational tipping point.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

#772 “When is my LTV good enough?” + Founder Mode for Bootstrappers Sep 12, 2024

“Manager mode is so tempting…” Dan & Ian discuss Paul Graham’s most recent essay titled “Founder Mode”, and how lifestyle bootsrappers can harness the power of founder mode to grow their businesses.

They’ll also address a question they get asked all the time: “But when is my LTV good enough?” How to figure out your LTV to CAC ratio and more in this week’s episode.

Subscribe to the newsletter to access Dan & Ian’s business resources used with their coaching clients. Subscribe to the TMBA newsletter.

This week’s episode brought to you by Remote First Recruiting. Hire your next team member in 30 days or less.

From the episode:
Paul Graham’s Founder Mode.
‘Old Man River’ reference from The 5 Approaches for Getting Rich + Budgeting for Wealth

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

#770 You Don’t Have an Operations Problem. You Have a Sales & Marketing Problem. Sep 05, 2024

Many founders think they have an operations problem - delivery, trust, staffing, leadership. But Dan thinks you might actually have a sales & marketing problem.

Dan & Ian also talk about becoming better leaders and how to fight against the erge to control your team.

Last but not least, Dan shares the invaluable relationship advice he learned from President Barack Obama and reflects on the benefits of owning a lifestyle business when it comes to parenting.

Want to work through your current challenges with Dan & Ian? TMBA listeners can apply to get business coaching from Dan & Ian live on the pod (it’s free). Apply here.

Get access to Dan & Ian’s business resources that they use with their coaching clients when you sign up for the newsletter. Subscribe to the TMBA newsletter.

This week’s episode brought to you by Remote First Recruiting. Hire your next team member in 30 days or less.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

#770 $30K a Month on Upwork in Less Than 2 Years Aug 29, 2024

This founder started an Upwork agency less than 2 years ago and is making $30K a month… JUST on Upwork alone. We talk about how to take it to $80K a month and beyond in the next year.

In this week’s newsletter, we include our ICP exercise. Your next breakthrough in under 30 minutes.

TMBA email subscribers can also apply to get business coaching from Dan & Ian live on the pod (it’s free).

“1,000 Customers from One Channel”

Today’s guest is Phil Kuehnen, founder of Rev Gravy.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters

(00:00:00) Introduction and Overview
(00:00:35) Current Revenue and Pricing
(00:05:11) Financial Goals and Challenges
(00:05:32) Strategies for Revenue Growth
(00:05:40) Acquiring and Retaining Customers
(00:07:11) Key Value Proposition and Benefits
(00:07:33) Identifying Obvious Growth Opportunities
(00:10:50) Creating a High-Ticket Front-End Offer
(00:12:37) Focusing on the Business Model
(00:19:33) The Importance of Sales Calls
(00:21:12) Building a Machine for Growth

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

#769 - $100K MRR in 12 Months… Can They Do It? Aug 22, 2024

These co-founders want to more than triple their revenue in the next 12 months. Despite stagnation the past few years, they believe they can get there.

Dan & Ian dissect their plans to achieve this goal and offer some counterintuitive advice.

They cover repackaging a product for a higher cost, focusing on your premium customers, and how to lead a sales call.

In this week’s newsletter, we include our favorite resources for getting started with sales calls.

TMBA email subscribers can also apply to get business coaching from Dan & Ian live on the pod (it’s free).

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

Today’s guests are Elburz Sorkhabi and Colin Gibson, founders of The Interactive & Immersive HQ.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters

(00:00:00) Introduction and Overview
(00:04:40) Financial Goals and Challenges
(00:06:07) Current Revenue and Pricing
(00:07:51) Strategies for Revenue Growth
(00:10:13) Acquiring and Retaining Customers
(00:12:45) Key Value Proposition and Benefits
(00:14:36) Identifying Obvious Growth Opportunities
(00:16:06) Repositioning the Product for Customer Goals
(00:18:32) Repositioning and Repackaging for Revenue Generation
(00:24:17) Creating a High-Ticket Front-End Offer
(00:34:02) Focusing on the Business Model
(00:39:40) The Importance of Sales Calls
(00:44:00) Building a Machine for Growth

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

#768 “Lifestyle Business” vs “Real Business” Aug 15, 2024

Go from being trapped in the job you’ve built for yourself to building a wealth-generating machine.

Dan & Ian challenge service businesses to determine their LTV to CAC ratio so they can improve their cashflow and run a “real” business that gives them the lifestyle they want.

Calculating the LTV to CAC ratio may sound hard (and boring), but it’s no harder than solving all those other things you’re struggling with in your business.

Also, Dan’s hot take on the digital nomad ratio and being “relatively” wealthy.

Plus, one lucky listener (and email subscriber) will win a free ticket to this year’s DCBKK (over $1,000 value) in October. Details on how to enter in this week’s newsletter.

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters:

(00:01:00) Free Ticket to Our Next Event
(00:04:49) Business Breakdown Series
(00:06:50) Understanding the LTV to CAC Ratio
(00:08:08) Scaling a Service Business
(00:18:33) Lifestyle Business vs Real Business
(00:20:40) Easier to Run a Real Business
(00:26:00) Understanding Key Metrics
(00:29:47) High Fidelity Problem-Solving
(00:35:03) The Digital Nomad Ratio
(00:36:10) Living Like the Wealthy

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The Anti-Agency Agency + High ROI Customer Acquisition

#767 “1,000 Customers from One Channel” Aug 08, 2024

Dan & Ian talk to a listener who’s running a SaaS business that within one year got to $8K MRR. The business is full of potential and opportunities, but the risks involved with having all of your customers come from one channel looms heavily in the background.

They discuss topics like how to build relationships with customers, increase average cart value, how to grow your business when you’re not a sales and marketing expert, and more.

Dan & Ian brainstorm ideas about how this founder can future-proof his business while still maintaining his ideal lifestyle.

TMBA email subscribers can submit their business to be reviewed with Dan & Ian on the pod.

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

Today’s guest is Pavel Schoffer, founder of Beaver Codes.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters:

(00:00:13) Introduction and Background
(00:08:23) Building a Successful Lifestyle Business with Beaver Codes
(00:09:50) Navigating Platform Risk and Diversification
(00:11:04) Expanding the Business: Leveraging the Passionate Customer Base
(00:13:34) Reaching Out to Customers and Gathering Insights
(00:23:49) Managing Online Reviews and Filtering Options
(00:25:50) Automating Review Responses and AI Integration
(00:33:59) Balancing Platform Risk and Diversification
(00:35:41) Upselling Premium Features to Existing Customers
(00:37:39) Identifying Personal Passion and Building Relationships
(00:42:02) Recognizing Expertise and Hiring for Growth
(00:42:52) Bringing in Talent and Sharing Wisdom
(00:44:28) Maximizing Personal and Business Potential

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The Anti-Agency Agency + High ROI Customer Acquisition

#766 “I’m Scared to Raise the Price” Aug 01, 2024

Dan & Ian talk to a listener who’s running a $1M D2C e-commerce business about the challenges and opportunities he faces as he plans for future growth and a potential exit down the road.

They discuss topics like decreasing customer acquisition costs, increasing profit margins, the absolutely essential role of a CFO, and not letting your passion for the product get in the way of your growth.

At the end of the call, Dan & Ian will recommend key next steps this founder should take in order to scale their business effectively and aggressively.

TMBA email subscribers can submit their business to be reviewed with Dan & Ian on the pod.

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

Check out the fluora plant we discuss on today’s show.

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters:

(00:00:27) Introduction and Business Overview
(00:02:18) Transitioning to D2C E-commerce
(00:05:59) Scaling and Future Plans
(00:13:11) Becoming a Software Company
(00:14:17) Challenges and Future Growth
(00:18:06) The Role of a CFO in Financial Management
(00:28:28) Developing an Expensive Product for Customers
(00:32:48) Improving Profit Margins and Considering Tax Implications

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The Anti-Agency Agency + High ROI Customer Acquisition

#765 Only 3 Ways to Grow…What Would Plato Do Jul 25, 2024

Tackling one of the biggest problems entrepreneurs struggle with: separating their business from their own narrative and looking at it with fresh eyes.

This episode will uncover the simple but hard truths to every business and reveal the three (and only three) ways to grow any business.

We talk about customer acquisition, order value, retention, risk-free offers, and more.

TMBA email subscribers will get access to the platonic business calculator discussed on today’s show.

Winning and losing Millions with Nathaniel Eliason

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com

Chapters:

(00:00:45) Introduction
(00:02:24) The Platonic Ideal of a Business
(00:04:18) Simplify, Focus, Execute
(00:10:27) The 3 Essential Ways to Grow a Business
(00:12:47) Understanding the Numbers
(00:29:07) Better-Than-Risk-Free Offers
(00:32:53) Conclusion

Useful links:
Connect with other entrepreneurs
Coaching for $250K+ founders
Community for 1M+ founders
Hire remote talent
Find a remote job
Listen on YouTube
Follow us on Instagram

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Less Than 5% of Businesses Get to 1MIL+ - A Process to Reach the Goal

Sign up for our newsletter to receive TMBA-exclusive business-building resources weekly.

#764 The 5 Approaches for Getting Rich + Budgeting for Wealth Jul 18, 2024

We speak to hundreds of entrepreneurs every year through one-on-one coaching and live events.

Many of those entrepreneurs have gone on to become very wealthy, and throughout our conversations with those people, we have found some common threads to the ways that wealthy people behave.

This was one of our most popular episodes of 2019 so we’re bringing it back with updated thoughts.

This week, newsletter subscribers will get Dan’s personal monthly budget template.

Chapters
● (00:02:20) Every Dollar Has a Job
● (00:09:30) Deals. People. Energy. Luck.
● (00:14:42) Strategic Identity Creation
● (00:21:22) Comprehensive Arbitrage
● (00:29:03) Old Man River
● (00:33:15) Shovel Stamper

Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or [ian@tropicalmba.com](ian@tropicalmba.com)

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Winning and losing Millions with Nathaniel Eliason

Less Than 5% of Businesses Get to 1MIL+ - A Process to Reach the Goal

The 7 Most Common Money Mistakes for Bootstrappers

#763 10 ideas for businesses seeking $1 Mil in Revenue Jul 11, 2024

In this week's conversation, Dan and Ian discuss 10 ideas that provide valuable insights and strategies for entrepreneurs looking to grow their revenue to $1 Million and beyond.

From years of experience and countless coaching calls, Dan and Ian cover topics such as finding a product with a tailwind, getting out of delivery, hiring a key badass, understanding your business model, optimizing your marketing funnel, and much more…

These strategies can provide a roadmap for entrepreneurs to focus on the most impactful areas of their business and make informed decisions to drive growth.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters:

(00:00:49) Introduction and Setting
(00:02:02) 10 Ideas for Reaching $1 Million in Revenue
(00:03:46) Finding a Product with a Tailwind
(00:11:11) Getting Out of Delivery
(00:17:57) Hiring a Key Badass
(00:23:48) Knowing Your Numbers
(00:25:05) Understanding Your Numbers
(00:29:27) Creating a Resident Offer
(00:32:46) Optimizing Your Marketing Funnel
(00:38:50) Identifying Key Metrics
(00:40:51) Patching the Leaky Boat

Links:

Diagnostic & Goals | Plans | Systems Work sheet

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Winning and losing Millions with Nathaniel Eliason
Less Than 5% of Businesses Get to 1MIL+ - A Process to Reach the Goal
The 7 Most Common Money Mistakes for Bootstrappers

#762 Winning and Losing Millions with Nathaniel Eliason Jul 04, 2024

This week’s conversation revolves around the book 'Crypto Confidential' and explores author Nathaniel Eliason’s experience during the crypto mania.

From the moment he decided to go all-in on crypto and the impact it had on their personal life, Nathaniel delves into the mechanics of farming and the process of launching decentralized exchanges.

Enjoy insights deep insights from the crypto world including off-ramping, the risks and challenges of early wallets, the mindset of crypto whales, the experience of losing and making millions, the rise and fall of the Titan project, and the author's biggest win in developing a crypto game.

Dan & Ian’s Stuff:

Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters:

(00:16:41) Going All-In on Crypto
(00:20:53) Exploring the Mechanics of Farming and Decentralized Exchanges
(00:26:35) The Role of Social Media in Spreading Information and Attracting Investors
(00:34:37) The Influx of Money into Crypto: Motivations of Investors
(00:35:22) Challenges of Off-Ramping Crypto and Early Wallets
(00:36:01) The Mindset of Crypto Whales
(00:41:13) Lessons from Losing Money in the Crypto World
(00:42:59) The Rise and Fall of the Titan Project
(00:52:42) The Author's Biggest Win: Developing a Crypto Game
(00:59:50) Choosing Fulfillment over Financial Success: The Decision to Focus on Writing

Links:
Crypto Confidential: Winning and Losing Millions in the New Frontier of Finance

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Less Than 5% of Businesses Get to 1MIL+ - A Process to Reach the Goal

The 7 Most Common Money Mistakes for Bootstrappers

Unlock Wealth Through Financial Fluency

#761 - Less Than 5% of Businesses Get to 1MIL+ - A Process to Reach the Goal Jun 27, 2024

Dan and Ian discuss the fundamental principles of change and how they apply to both weight loss and entrepreneurship.

The conversation explores the three key components of successful change: knowledge, accountability, and identity.

Listen in for how these principles are practical and applicable to your business growth, cause ass we know breakthroughs in our business don’t happen through epiphanies, they happen through small and consistent accumulations of change.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:54) Introduction and Catching Up
● (00:02:42) The Need for Change in Business
● (00:04:40) The Pyramid of Change
● (00:10:34) The Three Components of Successful Change
● (00:10:53) The Power of Accountability
● (00:12:31) Changing Practices and Relationships
● (00:14:23) The Importance of Accountability
● (00:17:27) The Role of Knowledge in Change
● (00:18:01) Different Types of Knowledge
● (00:22:16) The Power of Identity
● (00:28:57) The Priority of Change
● (00:29:45) The Promise of Change

Links:
Dr. Layne Norton’s YouTube Channel

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The 7 Most Common Money Mistakes for Bootstrappers

Unlock Wealth Through Financial Fluency

The Secret Weapon for Pricing Power

#760 - The 7 Most Common Money Mistakes for Bootstrappers Jun 20, 2024

Dan and Ian discuss the biggest money problems they’ve seen in their own business and hundreds of other bootstrapped businesses.

Learn how to craft a sustainable financial model, the importance of owner compensation, how to avoid being under-invested, and more.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:45) Introduction and Setting the Stage
● (00:01:13) The Importance of Money Attitudes and Metaphors
● (00:16:08) The Startup Spending Mindset in Bootstrapped Businesses
● (00:29:39) Focusing on the Wrong Problems
● (00:31:25) Strategies for Affording to Start a Business
● (00:34:28) Starting Early and Investing in Yourself
● (00:38:18) The Importance of Owner Compensation
● (00:41:15) Setting a Salary Cap
● (00:45:12) Avoiding Being Under-Invested

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Unlock Wealth Through Financial Fluency

The Secret Weapon for Pricing Power

How Healthy is Your Business?

#759 - Unlock Wealth Through Financial Fluency Jun 13, 2024

In this episode, Dan and Ian discuss the credible and reliable ways to build wealth through your business, based on the work of author Keith Cunningham.

The conversation emphasizes building a financially sound foundation for your business by understanding and applying financial principles, planning effectively, managing risks, and maintaining financial discipline.

As Cunningham says, "Building a business without mastering the financial statements is like building a house on the beach. It’s not if the tide will come in, it’s when. And the tide always comes in."

Enjoy this week's episode as you consider how to build a durable business for long-term success!

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:44) Introduction: Credible and Reliable Ways to Build Wealth Through Your Business
● (00:04:09) Building a Durable Business for Long-Term Wealth
● (00:04:54) Mitigating Risks: Excess Capacity, Client Concentration, and Key People Dependency
● (00:11:49) Understanding the Language of Finance for Business Success
● (00:19:01) Sustaining a Business for the Long Term: Commitment and Adaptability
● (00:20:53) Understanding Finance and Starting a Business
● (00:33:50) The Role of Culture in a Company
● (00:35:29) The Responsibilities of a CEO
● (00:37:42) Growth Priorities for Business Success
● (00:39:09) Capital-Efficient Strategies for Wealth Generation

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The Secret Weapon for Pricing Power

How Healthy is Your Business?

The Million Dollar Service Business Playbook

#758 - The Secret Weapon to Pricing Power Jun 06, 2024

Dan and Ian explore the concept of power in business and how businesses can transition from being a grind for the owner to having sustainable pricing power.

Derived from the book 'Seven Powers' by Hamilton Helmer, they delve into the idea of cornered resources as a source of power and discuss examples of cornered resources such as patents, unique brain trust, and exclusive partnerships.

You’ll be challenged to consider how you can identify and leverage counter positioning, networked effects, distribution, and brand to sustain margins and pricing power over time.

This is an essential conversation for building and maintaining a competitive advantage in any industry.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:01:07) Understanding Business Power and Transitioning Camps
● (00:09:44) The Importance of Cornered Resources in Business
● (00:19:59) Leveraging Distribution as a Source of Power
● (00:36:03) Unleashing the Power of Brand

Links:

The 7 Powers: The Foundation of Business Strategy

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

How Healthy is Your Business?

The Million Dollar Service Business Playbook

Run Any Business with Just Two Simple Things

#757 - How Healthy is Your Business? May 30, 2024

Dan and Ian challenge listeners to answer five questions about your business that will help you evaluate how healthy your operations are.

They cover everything from doubling down on what’s working best to effective resource allocation and working “on” your business instead of “in” your business.

You’ll also be challenged to ask yourself: “What would a skilled entrepreneur do with my business?”

Take out your pens and notepad (very important), and consider this episode a free coaching session and a little taste of DC Accelerator.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:33) Working on Your Business vs. in Your Business
● (00:02:32) Evaluating Your Team's Value Creation
● (00:17:17) Doubling Down on What's Working Best
● (00:19:35) Maximizing Return on Investment
● (00:21:53) Effective Resource Allocation
● (00:27:22) Unprecedented Growth: What Would a Skilled Entrepreneur Do?
● (00:36:24) Evaluating and Refining Your Business with Diagnostic Questions

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The Million Dollar Service Business Playbook

Run Any Business with Just Two Simple Things

Mastering Consistency with Adam Gilbert

#756 - The Million Dollar Service Business Playbook May 23, 2024

In this week's episode Dan and Ian discuss the importance of the concept of Labor Efficiency Ratio (LER), to scale your business to a million dollars in revenue.

They highlight the challenge of transitioning from being a craftsperson to a CEO and the importance of building a profitable business model that can operate without the founder's constant involvement.

They continue this concept by focusing on the importance of financial planning and analysis (FP&A) in growing a business.
Having someone to provide structure and make data-driven decisions can lead to some shocking discoveries and help you identify areas for improvement and optimize your business performance.
The conversation concludes with a recap of the DC Mexico event and a call for referrals for future events!

Dan & Ian’s Stuff:

Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:42) Introduction and Catching Up
● (00:01:40) DC Accelerator and Financial Planning and Analysis (FP&A)
● (00:07:28) Using Labor Efficiency Ratio (LER) to Scale
● (00:14:49) The Challenge of Transitioning from Craftsperson to CEO
● (00:21:50) The Importance of Profitability and Compensation
● (00:25:06) Building a Profitable Business Model
● (00:28:19) The Role of Hiring and Financial Planning and Analysis
● (00:29:20) Differentiating Financial Planning and Analysis from Bookkeeping and CPA
● (00:40:05) Recap of the DC Mexico Event

Links:

Books by Greg Crabtree

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Run Any Business with Just Two Simple Things

Mastering Consistency with Adam Gilbert

Lessons From an 18-Month Trip Around the World on $100 a Day

#755 - Run Any Business With Just Two Simple Things May 16, 2024

Dan reflects on his trip to Mexico last week where he hung out with 200 founders and listeners of the pod.
Vulnerability, lessons from exiting a business, and a secretive membership called “being parents” were common themes.
Another major topic was the launch of our new coaching program, DC Accelerator. Dan talks about how getting to $1M and beyond takes not just willpower or desire, but most importantly, it takes discipline.
He shares the two tools required to run a business of any size. Whether you’re a 1-person operation of have 1000’s of employees, these two tools remain the same.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:48) Introduction and Simplifying Operations
● (00:04:54) The Transformative Journey of Parenthood
● (00:07:09) Vulnerability and Exiting a Business
● (00:15:37) The Nuts and Bolts of Our Coaching Program
● (00:22:35) Every Business Needs a Cashflow Forecast and a Plan

Links:
DC Accelerator

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo
Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam,
James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin
Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian
Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Mastering Consistency with Adam Gilbert
Lessons From an 18-Month Trip Around the World on $100 a Day
The 1 Million Dollar Question

#754 - Mastering Consistency with Adam Gilbert May 09, 2024

Health and wellness is the ultimate productivity hack, impacting every aspect of life.

Adam Gilbert, founder of My Body Tutor, discovered that consistency is key, and accountability, mindset, and personalized plans help clients stay on track. It’s also what sets his business apart.

My Body Tutor has been generating demand for their service for 17 years, having a flawless reputation, and obsessively focusing on getting clients results.

In this episode Adam shares his strategies for pricing demand, how to handle client churn, and balancing family life with his passion.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:06:29) The Impact of Health and Wellness
● (00:12:10) The Importance of Consistency
● (00:16:57) Evolving Pricing Based on Value
● (00:28:39) Recruiting, Training, and Retaining Coaches
● (00:33:10) The Importance of Regular Meetings
● (00:44:17) Caring and Mission-Driven Approach
● (00:45:30) Starting Small in Entrepreneurship

Links:

https://www.mybodytutor.com/

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Lessons From an 18-Month Trip Around the World on $100 a Day

The 1 Million Dollar Question

“The Death of the follower” + Make 250k in 3 Days a Week

Lessons From an 18-Month Trip Around the World on $100 a Day May 02, 2024

This week we had the pleasure of sitting down with Barry O'Brien, a global traveler, as he shares his 18-month journey to 15 countries on just $100 a day or less.

Barry tells us stories about his experience in Vietnam, the most surprisingly underwhelming destination he visited, the most expensive and inexpensive destinations, how he saved, prepared, and what he learned in the end.

He discusses his journey from following Dave Ramsey's steps to discovering the FIRE movement and combining the principles of both to pay off $51,000 of debt, and give him the financial freedom to pursue his dream trip.

He talks about the importance of passive income, his philosophy of focusing on one thing that you can do well, the process of obtaining US citizenship, and the challenges and opportunities it presents.

Dan & Ian’s Stuff:

Our book: Before the Exit
The Newsletter
“The DC”
DC Accelerator
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters:

(00:03:21) Your Ticket to One Million - DC Accelerator
(00:14:59) Exploring Western Europe on a Budget
(00:26:13) Indulging in Peru's Food and Culture
(00:30:15) Managing Travel Costs to Extend the Trip
(00:34:41) Finding Peace and Financial Independence
(00:39:10) The Competitive Landscape of US Citizenship

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

The 1 Million Dollar Question

“The Death of the follower” + Make 250k in 3 Days a Week

What is the Most Simple OS for <$5M?

#752 The 1 Million Dollar Question Apr 25, 2024

Crafting your value proposition into an irresistible offer is not an easy task. Andrew Jacoby, entrepreneur and visionary behind Growth Era, a thriving outbound sales company, knows this all too well.
Andrew shares his journey, highlighting the pivotal role of Sales Development Representatives (SDRs) in driving business success.
Discover the power of focusing on what you know best and building a business around recurring services as Andrew unveils the concept of risk reversal and its impact on skyrocketing conversion rates.
From navigating the challenges of educating a market to the transition from CEO to operator, Andrew offers practical strategies for building a robust team and fostering deep community connections amidst a nomadic lifestyle.
Tune in as Andrew delves into the core values of moral fiber and virtue in business, underscoring the true essence of freedom and happiness.
Whether you're an aspiring entrepreneur or seasoned business leader, this episode promises a wealth of wisdom to elevate your sales game.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:47) Introduction and Background
● (00:04:19) Growth Era: Company Overview
● (00:04:47) Andrew's Sales Background
● (00:07:29) Challenges and Successes in Outbound Sales
● (00:10:29) Understanding SDRs and Their Role
● (00:12:14) Types of Businesses that Benefit from SDRs
● (00:16:59) Developing an Attractive Offer
● (00:18:15) Growth Era's Business Model
● (00:19:37) Finding Success in Familiar Territory
● (00:23:55) The Importance of Serving People
● (00:25:04) Pricing and Confidence
● (00:25:44) Choosing Between Being an Operator and a CEO
● (00:26:43) Knowing When a Company is Ready for Adults
● (00:29:45) Deep Work and Problem Solving
● (00:32:49) The Nomad Lifestyle
● (00:35:34) The Importance of Community
● (00:38:18) The Pursuit of Virtue and Love
● (00:39:42) The True Meaning of Freedom and Happiness

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“The Death of the follower” + Make 250k in 3 Days a Week

What is the Most Simple OS for <$5M?

Do Things That Don’t Scale

#751 “The Death of the Follower” + How I’d Make $250K in 3 Days a Week Apr 18, 2024

Is it possible to bootstrap a high-level business if you’re broke? Listen to Dan & Ian’s take on what kinds of businesses are best to start when you’re starting with basically nothing.

Also, what the hell does a visionary do? Dan suggests that the best visionaries have integrator tendencies.

They’ll consider how Kevin Kelly’s “100 True Fans” can lead to sustainable revenue through a concept called “The Death of the Follower”.

Lastly, Dan pitches a business idea that requires zero startup cost, 3 days a week of effort, and could easily net you $250K.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:39) Introduction and companies over title’ing
● (00:04:00) Starting a Bootstrap Business When You're Broke
● (00:08:29) The Role of Visionaries in Company Success
● (00:14:55) The Death of the Follower & Engaging with Social Media Algorithms
● (00:19:54) The Future of Search: AI and Personalization

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

What is the Most Simple OS for <$5M?

Do Things That Don’t Scale

Three Phases to 1 Million in Revenue

#750 What is the Most Simple OS for <$5M? Apr 11, 2024

The hard part shouldn’t be how to implement an OS in your organization. The hard part is answering the question: Are the right people in the right roles at your company?

In this episode, Dan and Ian share their own OS that’s extremely simple. It’s called GPS. They’ll explain how GPS helps you put a plan in place to meet your goals, and deliver on that plan. That’s it.

Also, hiring for specific tasks, the impact of remote work on hiring, and more.

Dan & Ian’s Stuff:
Our book: Before the Exit
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:41) Introduction and 'Meaty Shorts' Format
● (00:06:48) Hiring for Specific Tasks in a Business
● (00:15:55) Minimum Viable EOS (GPS) Implementation
● (00:16:27) Implementing the EOS System: The GPS Framework
● (00:18:54) Using Scorecards for Clarity and Accountability
● (00:25:06) The Importance of Regular Check-ins and Standing Meetings

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Do Things That Don’t Scale

Three Phases to 1 Million in Revenue

Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

#749 Do Things That Don’t Scale Apr 04, 2024

In this episode, Ian and Dan discuss the concept of doing things that don't scale, inspired by Paul Graham's influential article 'Do Things That Don't Scale.' They explore the idea of taking risks and gambling in entrepreneurship, and how it relates to increasing one's locus of control. The conversation covers various strategies for founders, including recruiting users manually, building something fragile, delighting users, focusing on experience, and niche marketing. In this conversation, Ian and Dan discuss Paul Graham's article 'Do Things That Don't Scale' and explore the principal themes and takeaways. They cover topics such as the idea of scaling, fabricating products yourself, consulting and acting as an anchor client, going manual and doing unscalable laborious tasks, the illusion of big launches and partnerships, vectors vs. scalars (ideas and execution), and the temptation to gamble and the importance of locus of control.

Our book: Before the Exit
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters
● (00:00:47) Introduction and Waking Up Early
● (00:01:58) The Concept of Taking Risks and Gambling
● (00:03:52) Introduction to Paul Graham and Y Combinator
● (00:05:37) The Importance of Doing Things That Don't Scale
● (00:10:00) Recruiting Users Manually
● (00:12:48) Building Something Fragile
● (00:20:48) Niche Marketing
● (00:23:02) The Facebook and the Idea of Scaling
● (00:24:53) Consulting and Acting as an Anchor Client
● (00:27:17) Going Manual and Doing Unscalable Laborious Tasks
● (00:30:08) The Illusion of Big Launches and Partnerships
● (00:34:54) Vectors vs. Scalars: Ideas and Execution
● (00:38:36) The Temptation to Gamble and the Importance of Locus of Control

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Three Phases to 1 Million in Revenue

Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

#748 Three Phases to 1 Million Mar 28, 2024

Dan and Ian discuss the different phases of bootstrapping a business and the common challenges that arise at each stage. They walk through three phases: Zero to $250k “Mindset”; $250k to 1 million "We're seeking a reliable/repeatable source of new customers"; and $1 million + "We need to hire, fire, improve/change team members more effectively”. They explore everything from adjusting the offer to the marketplace and developing a strong customer base to making a rule that the founder should be responsible for growth up to $5M.

They also explore the crucial role that team composition plays in the professionalization of the company. Finally, they discuss the decision between maximizing profitability and scaling the business.

Dan & Ian’s Stuff:

Our book: Before the Exit
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Chapters

● (00:00:43) Introduction and Era Change
● (00:04:28) Mindset for Early Stage Bootstrapping
● (00:08:35) Running a Shit Ton of Experiments
● (00:19:34) Customer Development and Adjusting the Offer
● (00:23:37) Founder's Responsibility for Growth
● (00:24:28) Founder's Role in Growth Until $5 Million
● (00:25:29) Following Strategies That Work for the Majority
● (00:26:41) Celebrating the Achievement of $1 Million in Revenue
● (00:29:18) Transitioning from $1 Million to $5 Million
● (00:34:07) The Importance of Team Composition
● (00:34:22) Shifting Focus to Managing a Team
● (00:39:19) Maximizing Profitability vs. Scaling

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

#747 Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal Mar 21, 2024

Dan talks to Jordan Gal, founder of Rally and co-host of the Bootsrapped Web podcast about challenges in the ecommerce space, product-market fit and demand, partnerships and veto power, the quietness of crypto, risking other people’s money, and more…

There’s one thing that founders tend to really struggle with when it comes to growing their business and that’s getting the right team in place. Listen as Jordan shows Dan how and why he fires unfit team members.

Dan & Ian’s Stuff:

Chapters

(00:04:22) News Update
(00:05:58) From Player to Coach
(00:06:50) Jack Welch
(00:12:10) Bootstrapping vs Raising Money
(00:15:52) Product-Market Fit and Adjustments
(00:18:57) Partnerships and Veto Power
(00:20:42) Deciding When to Pivot
(00:36:27) Firing and Personnel Decisions
(00:43:30) The Quietness of Crypto
(00:48:05) Challenges in E-commerce
(00:57:30) Impact of Having a Family

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

A Shopify Software Business Success Story (Jordan Gal)

How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

#746 “Full-Service Agencies Are Out” & Other Productized-Service Ideas Mar 14, 2024

Dan & Ian talk to John Doherty, the founder of Editor Ninja, former owner of Credo, and cohost of the Working Sessions podcast about three major trends he’s seeing in the agency space that could impact your strategy and profitability for the year and beyond.

John talks about the challenges of running a full-service agency, a shift towards specialization in productized services, the need for outsourced strategic layers, focusing on profitability, and more.

Stick around for the guys to reveal six productized-service business ideas.

Dan & Ian’s Stuff:

Chapters

(00:02:04) News with Dan & Ian
(00:05:20) Introducing John Doherty
(00:06:46) Starting Credo and EditorNinja
(00:09:30) Trends in the Agency Space
(00:11:27) Building a Strategic Program
(00:28:10) Focus on Profitability
(00:30:40) Importance of Work Quality
(00:31:55) Categories for Business Opportunities
(00:32:42) Software Quality Assurance as a Service
(00:35:57) TikTok Titan: Leveraging TikTok for Business
(00:38:54) SAAAS: Systems Automation as a Service
(00:40:28) Managed VA Service for Social Media
(00:43:57) Fractional Business Strategist
(00:45:23) Financial Dashboard as a Service
(00:50:44) Workbooks for Business Metrics

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree

Additional episodes you might enjoy:

“3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree

How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

#745 “3 Million in Revenue is a Death Zone" - Financial Strategy with Greg Crabtree Mar 07, 2024

Transitioning through the death zone requires careful execution and a focus on profitability. The $3 million dollar mark is a critical milestone for businesses, and many struggle to push through it.

In this episode, Dan talks to Greg Crabtree, author of Simple Numbers, Straight Talk, Big Profits! about how founders can push through the death zone (otherwise known as the messy middle) and grow their profit far beyond that $3M mark.

Some of the common mistakes made by founders include not understanding profit truth, not investing in finance and accounting, and not effectively managing labor efficiency.

Dan & Ian’s Stuff:

Chapters

(00:00:39) Introduction and the Death Zone
(00:05:26) The Impact of Paying a Market-Based Wage
(00:06:53) Behavioral Economics and Profit Truth
(00:10:34) The Definition of a Fully Capitalized Business
(00:12:39) Transitioning through the Death Zone
(00:13:16) The Three Steps to Business Success
(00:15:04) Remaining Profitable in the Death Zone
(00:15:50) Different Capital Profiles and Cashflow
(00:16:53) The Emotional Challenge of Spending in the Death Zone
(00:19:52) The Executional Problem of Growth
(00:20:27) Getting Through the Black Hole
(00:21:51) The $3 Million Mark
(00:23:15) The Worth of Going Through the Zone
(00:26:22) Managing a Marketing Agency Past $5 Million
(00:31:16) Common Mistakes Made by Founders
(00:33:25) Understanding Profit Truth
(00:40:23) Investing in Finance and Accounting

Links:

- Apply to win a free ticket to DC Mexico!

Simple Numbers, Straight Talk. Big Profits!

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz

Additional episodes you might enjoy:

How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway

Spotting Taboo Business Ideas Through the Overton Window

#744 How Transparent Should You Be? Thoughts on Queen Bee Roles & a Ticket Giveaway Feb 29, 2024

This week Dan & Ian share a few thought experiments you can do to improve your business and reach your next breakthrough.

They cover the value of a writing-first culture, the Queen Bee Role & how transparent should you be with your team?

Plus, a ticket giveaway to one qualified founder.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:41) Intro
(00:01:33) Business-changing events for founders
(00:10:54) Writing is more important than you think
(00:14:57) Writing culture vs meeting culture
(00:20:49) The Queen Bee Role exercise
(00:32:37) Thoughts about sharing revenue with team members

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz

Additional episodes you might enjoy:

The Anti-Agency Agency + High ROI Customer Acquisition

Spotting Taboo Business Ideas Through the Overton Window

#743 Spotting Taboo Business Ideas Through the Overton Window Feb 22, 2024

Going deeper on shiny object syndrome, Dan & Ian open the mailbag to read responses to last week’s episode. A listener shares his success story with shiny object syndrome, revealing how he pursues his entrepreneurial impulses without growing crazy. The listener emphasizes the value of muscle memory when it comes to going from zero to one successfully.

Dan & Ian will also discuss how to use societal and scene shifts to gain traction on an idea and even build a successful business out of an idea that might seem a little stupid (to everyone else) at the time.

Plus, we’re looking for our next TMBA team member! If you love reading and writing about business topics and think working alongside Dan & Ian might seem like fun (or a little stupid!), let's talk.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:54) Intro
(00:01:13) If you love reading and writing about business, come work with us at the TMBA.
(00:09:17) The two most popular roles that bootstrapped companies are hiring for right now and how much they're paying.
(00:14:55) How founders get derailed by the Gell-Mann Amnesia Effect
(00:19:50) Why even your heroes’ businesses are shit shows
(00:20:33) How one listener channels his shiny object syndrome to grow his million-dollar business
(00:26:27) What founders often regret about selling their business
(00:30:30) Identifying societal disruptions can be a way for bootstrappers to be disruptive and successful
(00:30:42) What Mark Manson, Patt Flynn, and Muhammad Ali have in common
(00:39:54) Having a strong perspective could be what you’re missing

Links:

Sign up for a DC Black Q&A virtual meeting (open to all)
Join us in Playa del Carmen, Mexico this May
The Anti-Agency Agency + High ROI Customer Acquisition
Working Backwards: Insights, Stories, and Secrets from Inside Amazon
The score takes care of itself (Bill Walsh)
You can have two Big Things, but not three

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz

Additional episodes you might enjoy:

Business Basics: Revenue Durability, “Small” Goals, & High-Leverage Meetings

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#742 A Podcast About Shiny Object Syndrome Feb 15, 2024

Dan & Ian delve into the complexities of combating shiny object syndrome, a challenge that plagues all entrepreneurs at one time or another (or all the time).

They’ll talk about six strategies for tackling “the syndrome” and how to harness your skill of going zero-to-one to grow your business to the next level.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes:

(00:00:33) Intro
(00:03:05) How to connect with other founders by the beach (come to DC Mexico in May)
(00:11:08) DC Black is now accepting new members year-round
(00:17:54) Can shiny object syndrome be cured? Or am I doomed?
(00:20:31) Why entrepreneurs are great at the 0 to 1, and how to apply that skill set towards the next phase of your goals
(00:26:27) Six approaches to solving and harnessing your shiny object syndrome

Links:

Podcast producer job post
Sign up for a DC Black Q&A virtual meeting (open to all)
Join us in Playa del Carmen, Mexico this May
The Anti-Agency Agency + High ROI Customer Acquisition
Working Backwards: Insights, Stories, and Secrets from Inside Amazon
The score takes care of itself (Bill Walsh)
You can have two Big Things, but not three

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz

Additional episodes you might enjoy:

Business Basics: Revenue Durability, “Small” Goals, & High-Leverage Meetings

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#741 The Roadmap for Turning a Skill Into a 1M+ Productized Service Feb 08, 2024

In this episode Dan uncovers The Ultimate TMBA Business: a productized service business built on a skill set.

Tom Kent started his business based on a very specific skill set of his: he was good at getting jobs. Now Tom is the founder and CEO of Career Nerds, a 7-figure productized service that he’s doubling every year because of his precise lead generation strategies and very clear goals.

In this episode, Tom gives us a roadmap for turning a skill into a powerful productized service business. Plus, how he avoids the distraction of other target markets and opportunities and stays focused on his goal.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:55) Intro
(04:39:02) How to turn a skill into a business
(06:16:09) Personal branding and networking strategies on LinkedIn
(15:24:08) Scaling LinkedIn lead generation with a focus on targeting and outsourcing
(19:12:00) Sales process and lead generation for high-dollar products
(24:19:04) Sales strategies and conversion rates
(30:27:09) Building a sales team and identifying a niche market
(44:09:05) Influential books, networking, and travel

Links:

Career Nerds

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz

Additional episodes you might enjoy:

Business Basics: Revenue Durability, “Small” Goals, & High-Leverage Meetings

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#740 The Anti-Agency Agency + High ROI Customer Acquisition Feb 01, 2024

Vince Nguyen joins Dan to share how he resurrected his agency from semi-retirement and in the first month resumed making 5+ figures per client. He runs his agency solo and shares some of his biggest hacks for success. Vince essentially delivers a masterclass in running a successful solo-agency as well as how to improve Facebook Ads for your business (hint: it’s pretty simple!).

But first, Dan & Ian have some fun catching up about some big company news and how to operate on a profit-first system from day one and why that’s actually critical for scale.

They also talk about two trending ways for finding and connecting with customers that are leading to more sales, that you can implement as early as today.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:45) Intro
(00:03:16) Profit first and financial modeling for businesses
(00:07:53) Scaling your business with financial rigor
(00:14:05) Hiring a full-time producer for the Tropical MBA podcast
(00:15:33) The new DC Black coaches
(00:19:10) Masterminds, business growth, and clarity of goals
(00:25:46) Sold out an event in under an hour using WhatsApp
(00:27:04) Why aren’t more businesses talking to their clients on WhatsApp?
(00:32:32) Outsourcing SDRs in LatAm is what SEO was 10 years ago
(00:49:04) Why more isn’t better when it comes to your agency’s skillset
(01:02:58) How to get premium clients for your agency
(01:20:55) Advice for running profitable Facebook Ads from an expert

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Dana Lindahl, Anthony Fasano, Adam Palmeter, Carrie & Dave McKeegan, Mike Michalowicz, Vince Nguyen

Additional episodes you might enjoy:

Business Basics: Revenue Durability, “Small” Goals, & High-Leverage Meetings

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#739 The Three Horsemen Holding Your Business Back from Breakthrough with Mike Michalowicz Jan 25, 2024

Dan interviews business author and entrepreneur Mike Michalowicz, delving into the transformative concepts from Mike's books — "Profit First," "The Pumpkin Plan," Clockwork", and more.

They explore the power of prioritizing profit and why most small businesses are often “crushed” by the owner. Mike discusses his concept of the Queen Bee Role and advocates for specialization to scale effectively.

Stick around as Mike reveals the three horsemen that keep businesses right on the brink of success, often never finding breakthrough.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:49) Intro
(00:07:10) Take profit first and hide it from the business to force it to run within expenses
(00:13:35) Profit First case study: What happened to the Savannah Bananas
(00:17:44) The most important function in a business is the one that supports the brand promise
(00:23:53) Owners try to be the “superhero” instead of stepping back and building structure
(00:29:33) A minority of customers represent the majority of profitability
(00:30:20) Focus on becoming a specialist in your market
(00:35:50) Each stage of growth requres different levels of management and leadership
(00:38:03) Over-selling can lead to organizational death
(00:41:50) Three common causes of businesses not achieving success

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Dana Lindahl, Anthony Fasano, Adam Palmeter, Carrie & Dave McKeegan, Mike Michalowicz

Additional episodes you might enjoy:

Business Basics: Revenue Durability, “Small” Goals, & High-Leverage Meetings

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#738 Under the Hood of an 8-Figure Business + Million Dollar Weekend with Noah Kagan Jan 18, 2024

“Noah’s new book Million Dollar Weekend has so many nuggets for aspiring and mature entrepreneurs alike. Specifically, if you’re launching a new product, starting a new business, or you want to keep things simple for your team, you’ll find tangible guidance in this book.” - Dan

In this episode, TMBA host Dan Andrews sits down with Noah Kagan to talk about operating an 8-figure company at scale, something Noah does every day as the CEO of AppSumo.

Noah dives into specific processes around leadership, managing team members, setting achievable goals, making room for creativity, personal growth habits, and a whole lot more.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:33) Intro
(00:02:47) Setting goals and managing expectations for a successful business.
(00:07:43) Setting and achieving business goals with room for experimentation.
(00:08:51) Tracking progress on goals and regularly reviewing progress to avoid anxiety and stay motivated
(00:13:46) The importance of personal inputs relative to the company's top priorities, with each leader in the company having their own top three priorities to focus on.
(00:15:02) Everybody can see everybody’s scorecards
(00:17:34) Leadership means setting clear priorities and empowering others to choose their own destinations.
(00:20:09) Motivating employees through optimism, rather than demotivating them with criticism.
(00:22:03) The importance of consistency in personal and professional settings
(00:25:15) Monthly leadership survey to gather feedback and improve as a leader, with a focus on providing solutions rather than complaining.
(00:28:31) Core operational documents and processes needed to run a business
(00:30:11) Find your own “AppSumo” way

Links:

Million Dollar Weekend

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber

Additional episodes you might enjoy:

Business Basics: Revenue Durability, “Small” Goals, & High-Leverage Meetings

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#737 Business Basics: Revenue Durability, “Small” Goals, & High-Leverage Meetings Jan 11, 2024

Today Dan & Ian challenge you to consider: How durable is your revenue?

They’ll explore the concepts of profit now vs profit later, investing profits to build durability, network effects, marginal profitability calculation, and more.

But first, in some lighter conversation, Dan argues that setting smaller goals and reconfiguring your team meetings can lead to higher productivity and higher yield in your business.

Plus, the 6 principles to a high-leverage meeting learned from running millionaire masterminds.

Dan & Ian’s Stuff:
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:43) Intro
(00:02:15) A strategy for higher productivity and higher yield in 2024
(00:03:29) Focus on three things: Who, what, and when.
(00:04:15) Make your meetings so good you could sell them
(00:10:08) 6 principles we learned from running millionaire masterminds
(00:11:34) Common blind spots for founders
(00:13:34) “I don’t know how to set goals”
(00:15:26) Specific, measurable, attainable, relevant, timely
(00:24:59) Are boring businesses as durable as they seem?
(00:25:54) Investing profits to build durability & adapt fast
(00:29:45) Profit now vs profit later

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Dana Lindahl, Anthony Fasano, Adam Palmeter, Carrie & Dave McKeegan.

Additional episodes you might enjoy:

How to Have Your Best Year $$$Wise Ever

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#736 How to Have Your Best Year $$$Wise Ever Jan 04, 2024

This week, Dan reveals a strategic approach to decision-making intervals for achieving top-line revenue and personal income goals. Join him as he explores how this decision-making cadence serves as a compass in navigating the challenging 'messy middle' of entrepreneurship.

What’s the messy middle? You’ve found some type of product-market fit, customers are buying, and you've set revenue and profit goals. Yet, you lack an exit strategy, millions in your bank account, and an executive team running your company.

In this episode, Dan invites you into his end-of-year meeting with co-founder Ian Schoen, unveiling the inner workings of their quarterly reviews. Discover the three key questions they always address and learn how this framework can guide you out of the messy middle, ensuring this is your best year money-wise ever.

Dan & Ian’s Stuff:
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:01:16) 14 years of the Tropical MBA
(00:01:38) Setting and achieving business goals in the messy middle
(00:05:01) The framework for 90-day quarterly reviews
(00:07:30) Does your business make financial sense?
(00:11:36) Do you have the right people in the right chairs?
(00:21:55) Are you performing well in the business?
(00:24:08) How to focus on the one thing you’re best at

Links:

Public Quarterly Review Framework

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Dana Lindahl, Anthony Fasano, Adam Palmeter, Carrie & Dave McKeegan.

Additional episodes you might enjoy:

An 8-figure exit and revisiting the 1,000-day principle

Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#735 An 8-figure exit and revisiting the 1,000-day principle Dec 28, 2023

Can you make a life-changing decision based on assumptions you pulled off the internet?

This question and many others are answered in today’s fascinating interview with two of Dan’s mentors and longtime friends.

They recently exited one of their businesses (they’re still running the other!) for 8-figures, and they share the details of their process from deciding to sell, preparing for the sale, vetting acquirers, and what happens after. Hear how they spun up another business on the side and are maintaining the cash flow from that as they sit on the cash pile from the sale.

But perhaps their biggest accomplishment is raising three thoughtful, curious kids while running their two incredible businesses and living all over the world in places like Bali, Costa Rica, Spain, and more.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:42) Intro
(00:03:03) Revisiting the 1,000 day principle and questioning the 3,000 day principle
(00:03:52) Career milestones in entrepreneurship
(00:09:18) Maintaining pricing power in a productized service
(00:10:24) Setting financial goals and getting real with personal expenses
(00:16:36) Retirement planning with financial planners
(00:19:05) Selling a business: approach to sales process
(00:21:48) Selling a business: acquisition process and unexpected offer
(00:28:59) Selling a business: legal and financial aspects
(00:34:46) Selling a business: emotions and negotiation process
(00:37:10) Scaling a new business and selling a golden egg
(00:44:05) Parenting, wealth, and financial priorities
(00:46:06) Raising entrepreneurial children

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Dana Lindahl, Anthony Fasano, Adam Palmeter, Carrie & Dave McKeegan.

Additional episodes you might enjoy:

#733 End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

#618 Exploring Alternative Education Options for Nomadic Families

#565 The Origins of the 1,000 Day Principle

#734 Non-Obvious Ways to Grow Your Business + Favorite Moments of 2023 Dec 21, 2023

As 2023 comes to a close, Dan & Ian reflect on how their business did in 2023 and share some of their favorite moments from the year.

They’ll also talk about what makes a compelling offer, the “non-obvious ways” to grow your business in 2024, and why you should dream bigger than the numbers when goal setting.

But first, Dan shares the top business books and podcast episodes that inspired him this year just in time for your holiday travels.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes:

(00:00:50) Intro
(00:01:57) Dan’s favorite business books in 2023
(00:08:37) The podcast episodes that inspired business decisions this year
(00:13:15) Gift list for entrepreneurs
(00:19:36) An undervalued business-improving idea that anyone can do
(00:31:09) Why did our tweet go viral? Our search for speakers and facilitators is turning into quite the contest
(00:40:22) Our new product and how you can copy it
(00:44:31) 2023 business updates
(00:47:41) Favorite moments from the year

Links:

- DC Mexico tickets
- DC Black Facilitator position
- DC conversation cards

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber

Additional episodes you might enjoy:

End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown

Insights from DCBKK 2023: The UI vs API of a Location, How Bootstrappers Are Getting Wealthy, 2024 Business Strategy, and More

#733 End-of-Year Brainstorming, Goal-Setting, and a Mexico Meltdown Dec 14, 2023

Dan & Ian offer up some end-of-year thought experiments for founders, including how to re-visualize your business, capitalize on strategy, and ensure that you are in the right role in your business.

Most founders assume they are the “executive” in the business, but more often than not, their daily behaviors are that of a director or manager. Understanding where you sit in your organization can make a huge difference in your ability to scale.

Plus, explore the business diagnostic: what would a PE firm do with your business? A helpful exercise to get you thinking objectively about the decisions that need to be made in your business.

Lastly, the guys relive the Mexico Meltdown, otherwise known as the DC Mexico launch. Tune in to hear what went down.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes

(00:00:52) Intro
(00:01:22) We’re hiring mastermind facilitators
(00:02:20) DC Mexico meltdown
(00:08:10) What would a PE firm do with your business?
(00:15:32) Using org charts to change your business
(00:26:47) New trends and a business idea
(00:30:13) 3-year goal setting for year-end

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Dana Lindahl, Anthony Fasano, Adam Palmeter

Additional episodes you might enjoy:

Can Org Charts Be Sexy? + NYC Drinking Stories

Dissecting the American Dream & Business Lessons from the Elon Musk Bio

#732 Can Org Charts Be Sexy? + NYC Drinking Stories Dec 07, 2023

Dan & Ian unravel the complexities of job titles and organizational frustrations post-DC Black event, offering solutions through org chart brainstorming, a new business idea, and how much you should be investing into networking strategies based on your income.

Plus, see what UI and API score they give NYC after spending the weekend there.

Dan & Ian’s Stuff:

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show Notes:

(00:00:59) Intro
(00:08:05) UI & API score for NYC
(00:11:01) The danger of inaccurate titles for employees
(00:18:55) How to use org charts as a brainstorming tool
(00:25:47) New business idea: Be the money person
(00:28:46) How much $$ to invest in your network
(00:37:21) Meet us in Mexico in May

Links:

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Dana Lindahl, Anthony Fasano, Adam Palmeter

Additional episodes you might enjoy:

Insights from DCBKK 2023: The UI vs API of a Location, How Bootstrappers Are Getting Wealthy, 2024 Business Strategy, and More

The Freedom Line, 7+ Figure Founders, and Extended DCBKK Recap

The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

#731 Special Edition Pod: Meet us in Mexico Dec 05, 2023

In this special Tuesday edition of the pod, Dan & Ian make the hard sell for listeners to meet them in Mexico.

If you’re into five-star resorts, good food, frosty drinks, and nerding out about your business, consider this your official invite.

Dan & Ian’s Stuff:

Show notes:

(00:00:00) Intro
(00:00:57) Meet us in Mexico

Links:

Get your tickets to DC MEXICO 2024

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber

Additional episodes you might enjoy:

Insights from DCBKK 2023: The UI vs API of a Location, How Bootstrappers Are Getting Wealthy, 2024 Business Strategy, and More

The Freedom Line, 7+ Figure Founders, and Extended DCBKK Recap

#730 Cash Flowing Your Early Retirement (10K/mo+) Nov 30, 2023

This week, Dan continues delving into the world of coaching with a story about one company that provides highly paid professionals with a low-stress way to earn a living in the sunset phase of their careers.

Dan also interviews Sarah Weaver, a real estate investor and entrepreneur, who has achieved an impressive monthly cash flow of over $10,000 from her real estate portfolio in under five years.

Join us to glean insights from Sarah's journey, as she shares strategies for cash-flowing retirement through smart real estate investments. Sarah talks about how she bought 19 properties, the six metrics she evaluates before investing in a specific city, building a brand around her experience, and more.

Dan & Ian’s Stuff:
The Newsletter
“The DC”
DC Black
Global events
Hire remote talent
Find a remote job
Listen on YouTube
Follow on Instagram
@TropicalMBA
@AnythingIan

Show notes:
(00:00:56) Intro
(00:01:14) The DC Black event is happening now
(00:01:44) A new Mexico event
(00:02:30) Loom use cases for async companies
(00:07:13) Ways to generate cash flow
(00:10:15) The steps to 10K+ cash flow per month from rental properties
(00:11:59) Cash flow investing vs appreciation investing
(00:14:17) What metrics to look at before you invest in property
(00:25:30) Don’t meet your heroes, get paid by them
(00:28:43) House hacking from abroad
(00:29:38) Building a brand around your personal experience
(00:37:49) How to skip right past imposter syndrome
(00:39:44) Mistakes people often make in real estate investing
(00:41:53) The no-brainer bucket list experience you should go on

Links:

- Dcbkk recap
- The Upwork Hustle w/ Sam Hill
- CEO Coaching International
- www.sarahdweaver.com
- 30 Day Stay. Use SARAH for 10% off.

Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber

Additional episodes you might enjoy: