Tropical MBA: Entrepreneurship & Founder Lifestyle

Latest Episodes:

#726 Insights from DCBKK 2023: The UI vs API of a Location, How Bootstrappers Are Getting Wealthy, 2024 Business Strategy, and More Nov 02, 2023

Show notes

Dan & Ian are back in Austin and have fully recovered from what was the biggest event in DC history: DCBKK 2023.

Over 400 entrepreneurs gathered in the world-class city of Bangkok to swap stories, participate in masterminds, and fuel each other to reach new business heights in 2024.

In the episode, they covered many topics, including a framework for analyzing locations by their UI versus API, why Thailand's UI beats America, and what’s next for DC Black, a community for 7 & 8-figure founders.

Dan & Ian also share their biggest conference takeaways, some of their business strategy for 2024, and three trends happening in the community and the industry at large.

Stick around for some of their favorite stories from DCBKK 2023.

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:

(00:01:42) Intro
(00:02:32) The UI vs API of a location
(00:15:06) DC Black re-opens
(00:19:09) Conference woes and funny stories
(00:24:14) Pulling the CEO card backfires
(00:32:39) We have a branding problem
(00:35:27) We had the horsepower to run an epic event
(00:36:40) The space is more competitive than ever
(00:39:35) Increased financialization in the bootstrapping space
(00:43:58) It’s time for the 3,000 day principle
(00:48:15) Favorite DCBKK stories

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

Additional episodes you might enjoy:

4 types of business coaches for 7+ figure founders and reflecting on our 15-year partnership

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

Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits

#725 How One Entrepreneur Built a 7-Figure Brand Around a Very Niche Audience Oct 26, 2023

Show notes

This week, Dan is joined by a listener who wrote in with some compelling insights on community, camaraderie, and what it takes to be a successful entrepreneur.

Anthony Fosano, founder of Engineering Management Institute, built a 7-figure brand with a coaching business and a YouTube and podcast network that has garnered over 3 million downloads.

They cover many topics like how to leverage skills and resources from your full-time job to start your own business, how to build a business around a very niche audience, and why many entrepreneurs might find themselves coming “full circle” in search of community.

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

(00:01:07) Intro
(00:03:43) Start a business using your existing skills
(00:08:18) Start the hustle before you quit your day job
(00:11:51) Build for scale from the get-go
(00:14:41) Playing the podcast long game
(00:16:52) Make sure your brand represents the right audience
(00:23:00) What playing sports says about us as entrepreneurs
(00:33:02) What it takes to be successful

Links:

Additional episodes you might enjoy:

Hyper Niche Business Ideas with Big End Game Potential
Dissecting the American Dream & Business Lessons from the Elon Musk Bio
Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits

#724 Hyper Niche Business Ideas with Big End Game Potential Oct 19, 2023

Show notes

This week Dan invites Dana Lindahl, founder of Legendary Podcasts, as a special guest on the pod.

They’ll discuss how you can generate cash flow and demand for your product immediately using cold email and identify high-earning potential business ideas by seeking out hyper niches.

They’ll also talk about the difficulties of running service businesses, plus the opportunities and the end games, including a strategy called the “Split and Sale.”

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

(00:01:09) Intro
(00:03:22) How to get on a podcast
(00:07:18) Stumbling into a business idea
(00:11:05) What is the arbitrage window
(00:21:55) Cold email as a profitable skillset
(00:22:20) The new wave of cold email pitches
(00:23:56) The best marketing channel for service businesses
(00:26:27) How not to suck at email personalization
(00:35:04) New business idea
(00:44:59) The split and sell method
(00:47:35) TMBA is on the blacklist

Links:

Legendary Podcasts

Additional episodes you might enjoy:

When Your Lifestyle Business Can No Longer Support You

The Problems Of Being Both An Arsonist And A Firefighter As A Business Owner

4 types of business coaches for 7+ figure founders and reflecting on our 15-year partnership

#723 4 types of business coaches for 7+ figure founders and reflecting on our 15-year partnership Oct 12, 2023

Show notes

Ian and Dan agree that partnerships can create polarized outcomes, either leading to a successful collaboration or a complete failure, depending on a few essential factors they’ve learned over the years.

Find out whether they think business partnerships are a net positive or negative amongst the most successful businesses we've seen, and why every partnership would benefit from a business coach.

Stick around for a free business idea ripe for the taking.

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
(00:02:09) Who speaks at DCBKK?
(00:02:31) Why getting in the right room can be the best thing you ever do
(00:06:36) The highs and lows of business partnerships and if it’s right for you
(00:07:29) Pros and cons of 50/50 partnerships
(00:07:41) Questions to ask yourself before you get a business partner
(00:21:19) Dan’s experience with business coaches takes a positive turn
(00:25:46) How business coaches can help your business partnership
(00:26:08) Types of business coaches and their roles
(00:30:56) Here’s a free business idea
(00:31:47) Tell us how you did it on the TMBA podcast
(00:32:17) Shout out to DCBKK sponsors

Links:

Mark Zhang
Einar Vollset
Lucy Simkins
Patt Flynn
Internet Business Mastery

DCBKK is happening next week
DC Black reopens in November

Additional episodes you might enjoy:

Business Partnerships and 6-Figure Launches: A Conversation with Mark Webster
TMBA 693: 5 Things We’ve Learnt From Speaking With 50 Business Owners
Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits

#722 Revisiting the History of Digital Nomadism, AI For Connecting Founders, and the Big Focus Problem Oct 05, 2023

Show notes

This week, Dan & Ian talk about the early days of digital nomadism, what it says about the future, and how to spot new opportunities in life and business.

They'll also explore new topics like compound startup theory, why focus can steer you in the wrong direction, and whether TikTok is the blue ocean Amazon was in 2014.

Stay tuned to learn about the new AI feature, enabling founders to make connections more swiftly than ever.

All this and more in today's fully booked episode, so buckle up and charge your earbuds.

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:

(00:00:53) Intro
(00:02:58) Childhood lessons that helped us succeed in business
(00:08:35) The biggest DCBKK in history
(00:10:55) Dan & Ian’s travel tips & never agains
(00:13:22) The new AI feature that helps you connect with relevant founders instantly
(00:16:04) Is TikTok what Amazon was in 2014?
(00:20:39) The problem with limiting definitions and the theory of the compound startup
(00:28:20) Reacting to Steph Smith’s take on the history of digital nomadism
(00:30:20) A brief history of digital nomadism from our perspective
(00:45:54) What does the future look like for digital nomadism?
(00:48:40) Why understanding key trends ahead of their time can make for a highly successful business

Links:

Additional episodes you might enjoy:

The History of Digital Nomadism

Digital Nomad Cities for 2023 and Choosing Between ‘Scaling Up’ And ‘Traction’

Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits

#721 Dissecting the American Dream & Business Lessons from the Elon Musk Bio Sep 28, 2023

Show notes

Dan & Ian react to a viral article that asks the question: Does the American Dream still make sense in 2023? They point to the internationality of the concept, and muse about how the American Dream is changing and how it’s particularly relevant to digital nomads and founders.

Dan also gives a rundown of the Elon Musk bio and extracts the business lessons he gleaned from the book. Lastly, with DCBKK less than a month away, Dan & Ian reminisce about why they started this event in Bangkok over 10 years ago, and why it’s still worth the trip.

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:

(00:03:12) You can find community in different places - hobbies, church, work, or the DC
(00:08:04) The reason we went to Asia and not Silicon Valley back in the day
(00:10:20) Is Asia the land of opportunity?
(00:14:47) Choosing the prestigious career track or the DIY track
(00:16:22) What’s going on with DC Black? Our community for 7 & 8-figure founders.
(00:21:20) Breakdown of the Elon Musk bio and The Algorithm
(00:33:32) Does the American Dream still make sense?

Links:

Additional episodes you might enjoy:

Moving Back to America… Was it Worth It?
Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits
Millions for Podcasts and Jay Clouse on Memberships

#720 Brian Balfour’s $33M Growth Insights: Product-Market Fit, Durability, & Knowing Your Natural Limits Sep 21, 2023

Show notes

Join Dan for a wide-ranging conversation with Brian, the Founder and CEO of Reforge, as they dive into critical points in his remarkable journey and gained insights from his experience as the former VP of Growth at Hubspot. Brian has started multiple VC-backed companies and shares his wisdom through detailed essays on growth and user acquisition and in a new podcast, Unsolicited Feedback.

In this episode, they discuss the factors contributing to growth, what it feels like to have product-market fit, and the keys to building a durable business. They also address the unique challenges bootstrapers face when scaling their revenue to the next phase. Brian's valuable insights are essential for any business founder seeking business growth.

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:

(00:04:38) Do podcast appearances drive business value?
(00:07:38) People follow people, not companies.
(00:09:39) What is distribution, and why is it important?
(00:10:15) The new distribution playbook
(00:17:46) Explaining how the loop concept leads to compounding growth
(00:19:36) Know when the buying moments happen and ensure you’re engaging until they do.
(00:23:13) How important is founder talent in terms of business success?
(00:24:31) Founders need to focus on the 0-1 phase.
(00:27:23) “Data can mislead you from customer energy”
(00:28:34) Mistakes when trying to unlock the next level of growth0:26:25 Critical customer feedback vs. nice-to-have ideas
(00:30:25) That feeling when you find product-market fit
(00:38:47) Do you stay or do you grow?
(00:39:11) How to build a durable business
(00:41:05) Retooling after raising capital
(00:42:48) Taking calculated bets on the quest for growth
(00:49:46) How to get the most out of on-the-job experience
(00:51:28) The best content Brian’s consumed lately

Links:

Additional episodes you might enjoy:

What Got You Here Won't Get You There
Millions for Podcasts and Jay Clouse on Memberships
3 Simple Ways to Improve Your Business

#719 The Nomads Dilemma, Anti-Traction Debate, and Summer Highlights Sep 14, 2023

Show notes

Dan and Ian host a dynamic summer roundup episode, sharing business highlights, dissecting the "nomad's dilemma," and offering their top picks for books and podcasts of the season. Stick around for the latest community news.

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:

(00:01:54) How to have relationships back home and abroad
(00:03:56) Co-locating makes everything better
(00:09:51) The anti-Traction manifesto
(00:12:12) How to work ON not IN your business
(00:16:57) Having goals is crucial at any size
(00:23:24) Why you should get serious about meetings
(00:30:51) Having an audience is underpriced
(00:34:12) Serendipity is underrated
(00:35:21) Creating value for your customers in the long term
(00:41:03) A true story about entrepreneurship
(00:44:59) Our first DC Black exclusive event has launched
(00:45:32) Other Community News

Links:

Additional episodes you might enjoy:

Moving Back to America... Was it Worth It?
Mailbag: What Can Scorecards Do For You? Equity Split Dilemmas
The Money Theory of Location And Why Employee Scorecards Are So Helpful
Deceptively simple ways to have a better business

#718 Lucy Bella Simkins Built a YouTube Channel with 10,000,000 Subscribers Sep 07, 2023

Show notes

YouTube creator, English teacher, and CEO Lucy Bella Simkins joins Dan on the pod to share some of the behind-the-scenes challenges, strategies, and reflections on turning a passion project into one of the world’s largest language learning YouTube channels and a thriving 7-figure+ business. She also shares the challenges and pitfalls of building an operation of 15 team members capable of turning viewers into customers.

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:

(00:00:00) Intro
(00:06:32) Nurturing your audience
(00:08:02) Growing a course business
(00:16:06) The turning point
(00:22:44) Maker vs manager
(00:43:07) The spreadsheet experiment

Links:

Additional episodes you might enjoy:

What Got You Here Won't Get You There
Millions for Podcasts and Jay Clouse on Memberships
3 Simple Ways to Improve Your Business

#717 A Game of Would You Rather ft. Noah Kagan Aug 31, 2023

Show notes

Summer in Barcelona comes to a close with a game of Would You Rather featuring the CEO of AppSumo, Noah Kagan. Dan challenges him to choose between distributing equity to employees or advisors, investing in “boring” businesses or tech, owning or renting a primary residence, and more.

Dan also poses a question to listeners that’s been on his mind: how long should summer vacations be?

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:

(00:00:00) Intro
(00:02:23) Sports over 40
(00:03:59) Vacation poll
(00:08:26) Would You Rather
(00:32:37) Community news

Links:

Additional episodes you might enjoy:

What Got You Here Won't Get You There
Overrated and Underrated Business Concepts with Noah Kagan
Millions for Podcasts and Jay Clouse on Memberships
The Europe Question