Tropical MBA: Entrepreneurship & Founder Lifestyle
#751 “The Death of the Follower” + How I’d Make $250K in 3 Days a Week
Apr 18, 2024
Learn how to bootstrap a business when broke, the role of visionaries in success, and how '100 True Fans' can lead to revenue. Discover a zero-startup cost business idea to earn $250K in 3 days a week.
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Quick takeaways
- Avoid inflating titles to accurately reflect responsibilities in business.
- Consistent cash flow is crucial for bootstrap businesses facing financial constraints.
Deep dives
The Pitfalls of Title Inflation in Early-stage Businesses
In the early stages of a business, it is common to want to reward loyal employees with titles that may not be reflective of their actual responsibilities. The podcast cautions against inflating titles, such as calling a project manager a COO or an executive assistant a chief of staff. Jason Cohen suggests using titles that accurately describe the responsibilities without formal terms like CMO, until the business actually requires such roles.
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